Market Trends of Proximity Access Control Industry
Biometric Scanners to Hold Significant Market Share
• Biometric scanners, such as facial, fingerprint, and iris recognition, offer a high degree of security due to their reliance on distinct psychological or behavioral traits that are difficult to imitate or falsify. Godrej Security Solutions is expected to significantly impact the upcoming Central Vista Avenue in India in August 2023, with estimates suggesting that the security measures for the project could cost up to INR 100 crore (USD 12.0 million). The company has provided locks and digital security solutions for various historical landmarks, including the Taj Mahal (Taj Mahal Locks and Locks), financial institutions such as Punjab National Bank, State Bank of India, and Muthoot.
• Biometric scanners enhance visitor verification, guaranteeing that only authorized personnel can enter restricted areas. As more organizations become aware of biometric identification and access controls, security professionals educating them will benefit from the advantages. The commercial adoption of biometric identifiers in access controls and identification is currently at a critical juncture. Major corporations, airlines, retailers, government departments, and law enforcement agencies are all utilizing some biometric technology, increasing recognition of the potential benefits to end users in terms of operational efficiency, increased security, and cost savings.
• The implementation of contactless solutions has become increasingly important as biometric smart locks offer a touchless approach to entry, which is in line with health and safety regulations. In addition, several biometric smart locks are available for remote control via mobile applications, allowing users to authorize access to guests or service providers without being physically present.
• The biometric smart locks enable users to access the properties by utilizing the physiological characteristics, thus ensuring that only authorized individuals can open the door. Smart door locks have become increasingly in demand in the United States. While most residential door locks in the United States are mechanical, an increasing proportion of exterior locks are now replaced by smart door locks as connectivity becomes critical in staying competitive. As a result, value creation is shifting to new features and applications.
Asia-Pacific to Witness Significant Growth
• Access control systems protect against the infiltration of confidential information, fraud, and theft by guaranteeing that only authorized personnel can access specified areas. The emergence of the Internet of Things has led to the proliferation of intelligent systems, such as access control, in the context of connected devices and environments.
• For instance, in May 2023, Nidec Instruments announced the development of a multi-purpose card reader. This new product is primarily intended for slot machines and payment terminals in amusement facilities in both domestic and foreign countries. This card reader can process magnetic data, utilize NFC and Bluetooth technology for communication, and read QR codes.
• Access control systems like digital locks in South Korea are witnessing a surge in growth due to various factors. The country's high penetration rate of the internet and its technologically savvy population have contributed to the development of digital locks. With the ease of use of smartphones and the advent of widespread internet access, digital locks can be accessed and controlled remotely, which aligns with the convenience and adaptability customers desire. Rapid technological progress, such as biometric identification, wireless integration, and enhanced battery life, has enabled digital locks to become more efficient and effective, thus stimulating consumer demand and adoption.
• The retail landscape has been significantly altered by the development of contactless payment technology, driven by technological advancements and changing consumer preferences. The widespread use of mobile phones and the accessibility of Internet services have contributed to the growth of digital payments.
• Contactless technology offers a rapid and efficient payment option, becoming increasingly common in today's rapidly changing world. For instance, in January 2023, the Delhi government introduced smart mobility cards, allowing commuters to electronically pay their fare on the city's DTC buses as part of the NCMC. Passengers from all over India can now use their RuPay debit cards compliant with the NCMC for a smooth journey.
• The attention to the need for solid access control systems has been heightened in the wake of significant data breaches and incidents. Following a data breach, attackers may gain access to confidential information about an individual's access credentials or authentication techniques. These measures can result in unauthorized access to secure areas, thus compromising physical security.
