North America Pin-based Access Control Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.79 Billion |
| Market Size (2029) | USD 1.02 Billion |
| CAGR (2024 - 2029) | 5.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Pin-based Access Control Market Analysis
The North America Pin-based Access Control Market size is estimated at USD 0.79 billion in 2024, and is expected to reach USD 1.02 billion by 2029, growing at a CAGR of 5.30% during the forecast period (2024-2029).
- The increasing privacy and security concerns and the increasing theft of crucial data and information contribute to the market's growth. The number of terrorist activity and rising crime rates have increased in the region in the past few years. This has heightened concerns about the safety of people, assets, and processes, resulting in severe damage to infrastructure and the loss of multiple lives.
- Furthermore, pin-based access controls are easily scalable, making them suitable for SMEs who want to secure their data without spending extra money. Several pin-based access control systems can track who accessed a particular area along with time. These systems are often compatible with the existing infrastructure, making them a convenient choice to integrate into older security systems.
- The number of burglaries and crimes has increased worldwide in the past few years. This has heightened concerns about the safety of people, assets, and processes, resulting in severe damage to infrastructure and the loss of multiple lives. According to The Council on Criminal Justice (CCJ), motor vehicle theft, a crime that began surging in the summer of 2020, maintained its upward trend through 2023, with a 29% increase in reported thefts compared to 2022 in the United States.
- Meanwhile, residential burglary rates across cities in the United States were 26% lower in 2023 compared to 2019, and they saw a 3% decline in 2022, marking a reduction of 1,052 incidents. Residential burglary dropped by 4% in the first half of 2023 and by 1% in the latter half compared to the same periods in 2022. There are many technologies that can help in decreasing the crime rate. One of them is pin-based access control.
- The necessity for strict identity verification due to the accelerating adoption of transactional technologies is increasing the demand for biometrics access controls, which consumers prefer over traditional pin-based access control, hindering the market's growth. The integration of other access control systems, such as biometrics and facial recognition, is expected to restrict the market's growth. The ongoing development in technology and growing preferences for contactless access control are expected to hinder the market's growth.
- Rising inflation rates have increased the cost of goods and services, including pin-based access control systems. Higher costs lead to reduced purchasing power for consumers and businesses, slowing down the market's growth. Further, the ongoing war between Russia and Ukraine has disrupted the global supply chain, particularly affecting the availability and cost of electronic components and raw materials used in pin-based access control systems. This is leading to delays in production and increased costs for manufacturers.
North America Pin-based Access Control Market Trends
The Large Enterprises Segment is Expected to Hold a Significant Share in the Market
- Access control systems are now the go-to choice for regulating entry into commercial buildings, offices, and businesses. These systems can be tailored to limit access to IT rooms housing sensitive data. The market for access control systems is poised for growth, driven by a rising emphasis on safety, a surging demand for advanced access control, and the uptake of these systems by large enterprises.
- Given that commercial door lock systems with keypads offer heightened security by eliminating the need for physical keys, many property owners and senior managers regularly change the PIN codes. This practice ensures that only authorized personnel can enter the premises.
- Capitalizing on technological progress, numerous firms are now fusing keypad access control with mobile credentials, leveraging Wi-Fi, Bluetooth, and near-field communication. By pairing an IP-capable keypad reader with a mobile app, users can directly input a unique PIN from their smartphones, enabling touchless entry management.
- As smartphone sales surge in the region, the demand for pin-based access control integrated with mobile applications is set to rise. In 2023, the US Census Bureau reported smartphone sales reaching a value of USD 74.7 billion. These systems offer cost-effective means for building and office managers to handle identification credentials.
- While the traditional time and attendance tracking method was straightforward, it often led to costly errors and inefficiencies. Employees had to manually fill out timesheets, a process prone to mistakes, and businesses are transitioning to advanced pin-based attendance systems to address this. These not only bolster security but also help prevent theft and data breaches. Moreover, they enable companies to monitor employees closely, restricting lower-level access to safeguard organizational privacy.
The United States is Expected to Hold a Significant Share in the Market
- The United States is an early adopter of access control systems owing to the presence of several larger market players. Commercial verticals, such as financial centers and banks, enterprises, hotels, malls, and retail stores, have adopted pin-based access control systems in the United States. Furthermore, several offices have made it mandatory for their employees to use pin-based access control to enter the IT premises and use the systems that are assigned to them.
- Financial institutions are using sophisticated technology and monitoring techniques to ensure user safety while offering the convenience of online banking. With increasing thefts, banks have integrated multi-factor authentication, such as PINs, passwords, and biometric authentication. The substantial increase in data breaches in the country is increasing, and pin-based access provides users with another layer of security to secure themselves.
- Companies in the country are making strategic moves to expand their products and strengthen their market presence. For instance, in February 2024, Hikvision unveiled its second-generation professional access control products. These new offerings mark a substantial advancement in access management, introducing innovations in web management, flexible authentication, professional access applications, and unified security solutions.
- In 2023, a recent report, cosponsored by AARP, revealed that American adults collectively fell victim to identity fraud, resulting in a loss of USD 43 billion, and of this, USD 23 billion was attributed to traditional identity fraud. The increasing number of identity thefts is increasing the opportunity for the usage of pin-based access control authentication.
- As the popularity of physical and cyber security systems continues to increase, several industries are implementing multi-factor authentication policies to reduce severe security breaches. According to Avilgilon's research, multi-factor authentication can prevent up to 90% of attacks that cause property access passwords to be compromised.
North America Pin-based Access Control Industry Overview
The North American pin-based access control market is fragmented and consists of several players. Companies in the market continuously try to increase their market presence by introducing new products, expanding their operations, or entering into strategic mergers and acquisitions, partnerships, and collaborations. Some of the major players are Johnson Controls, Salto Systems SL, HID Global Corporation, Hangzhou Hikvision Digital Technology Co. Ltd, and Thales Group.
- June 2024: Salto Systems launched its latest innovation: the Design XS Keypad Wall Reader series. This cutting-edge product has a sleek design suitable for any environment, with a significant advancement in access control technology. Crafted for seamless operation with physical credentials and mobile access, the reader features a robust, long-lasting keypad.
- February 2024: Hikvision introduced its latest line of professional access control solutions, marking a notable advancement in access management. These innovations encompass enhanced web management, a range of authentication methods, specialized access applications, and integrated security solutions. Notable products in this release include the DS-K1T805 and 502 series, known for their vandal-proof design, and they offer a variety of authentication options: PIN codes, fingerprints, and mobile credentials.
North America Pin-based Access Control Market Leaders
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Johnson Controls
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Bosch Security and Safety Systems
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HID Global Corporation
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Hangzhou Hikvision Digital Technology Co., Ltd.
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
North America Pin-based Access Control Market News
- March 2024: Yubico unveiled an extension to its YubiKey Bio Series, introducing multi-protocol keys that bolster biometric authentication for FIDO and Smart Card/PIV protocols. These new keys, like their predecessors, feature a fingerprint sensor, facilitating secure and hassle-free biometric and PIN-based logins on various devices and platforms. Notably, the multi-protocol keys provide enhanced adaptability for enterprises, particularly when integrated with the HYPR platform.
- June 2024: Salto Systems launched its latest innovation: the Design XS Keypad Wall Reader series. This cutting-edge product has a sleek design suitable for any environment, with a significant advancement in access control technology. Crafted for seamless operation with physical credentials and mobile access, the reader features a robust, long-lasting keypad.
North America Pin-based Access Control Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 The Impact of the Aftereffects of the COVID-19 Pandemic and Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Smart Door Locks
5.1.2 Growing Adoption of Access Control Systems owing to Rising Crime Rates and Threats
5.1.3 Rising Demand for Advanced Security Solutions in Residential Buildings
5.2 Market Challenges
5.2.1 Integration of Biometrics
5.2.2 Easy Hacking of PINs
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Software
6.2 By Organization Size
6.2.1 SMEs
6.2.2 Large Enterprises
6.3 By End-user Industry
6.3.1 Banking and Financial Services
6.3.2 Government Services
6.3.3 Retail
6.3.4 IT and Telecommunications
6.3.5 Healthcare
6.3.6 Power and Utilities
6.3.7 Residential
6.3.8 Other End-user Industries
6.4 By Country
6.4.1 United States
6.4.2 Canada
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Johnson Controls
7.1.2 Honeywell International Inc.
7.1.3 Bosch Security and Safety Systems
7.1.4 HID Global Corporation
7.1.5 Hangzhou Hikvision Digital Technology Co. Ltd
7.1.6 Axis Communications AB
7.1.7 Avigilon Corporation
7.1.8 Napco Security Technologies Inc.
7.1.9 Thales Group
7.1.10 dormakaba Group
7.1.11 Dahua Technology Co. Ltd
7.1.12 Anviz Global Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
North America Pin-based Access Control Industry Segmentation
Access control systems are an essential element of security that governs who is allowed access to specific information, applications, and data sources. It safeguards sensitive information, such as information of customers and intellectual property, from being stolen by malicious actors or unauthorized users. Pin-based access control is a popular method of authenticating consumer identity more efficiently.
The study tracks the revenue acquired through the sale of pin-based access control by various players in North America. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates during the forecast period. The study further analyses the overall impact of aftereffects of the COVID-19 pandemic and other macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.
The North American pin-based access control market is segmented by component (hardware and software), organization size (SMEs and large enterprises), end-user industry (banking and financial services, government services, retail, IT and telecommunications, healthcare, power and utilities, residential, and other end-user industries), and country (United States and Canada). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Component | |
| Hardware | |
| Software |
| By Organization Size | |
| SMEs | |
| Large Enterprises |
| By End-user Industry | |
| Banking and Financial Services | |
| Government Services | |
| Retail | |
| IT and Telecommunications | |
| Healthcare | |
| Power and Utilities | |
| Residential | |
| Other End-user Industries |
| By Country | |
| United States | |
| Canada |
North America Pin-based Access Control Market Research FAQs
How big is the North America Pin-based Access Control Market?
The North America Pin-based Access Control Market size is expected to reach USD 0.79 billion in 2024 and grow at a CAGR of 5.30% to reach USD 1.02 billion by 2029.
What is the current North America Pin-based Access Control Market size?
In 2024, the North America Pin-based Access Control Market size is expected to reach USD 0.79 billion.
Who are the key players in North America Pin-based Access Control Market?
Johnson Controls, Bosch Security and Safety Systems, HID Global Corporation, Hangzhou Hikvision Digital Technology Co., Ltd. and Honeywell International Inc. are the major companies operating in the North America Pin-based Access Control Market.
What years does this North America Pin-based Access Control Market cover, and what was the market size in 2023?
In 2023, the North America Pin-based Access Control Market size was estimated at USD 0.75 billion. The report covers the North America Pin-based Access Control Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Pin-based Access Control Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Pin-based Access Control Industry Report
Statistics for the 2024 North America Pin-based Access Control market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Pin-based Access Control analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
