South Korea Access Control Market Share

Market Share of South Korea Access Control Industry

The South Korean access control market is fragmented highly competitive and comprised of both global and regional players striving for a larger share in a fiercely contested space. Despite the high barriers to entry, several new entrants have successfully made a mark in the market. Some of the notable players in the industry are Hikvision, Schneider Electric SE, Allegion PLC, NEC Corporation, Panasonic Corporation, Thales Group, Bosch Security System Inc., and Suprema Inc.

• February 2024: Suprema Inc. developed an on-device biometric authentication process that incorporates businesses’ physical access control systems. The new Template on Mobile (ToM) has been developed to allow access authentication with facial biometrics and secure customers' privacy from data breaches.
• March 2024: Allegion PLC launched a new electronic lock portfolio, the Schlage XE360 Series Wireless Locks. The XE360 Series is an affordable and versatile solution to build secure and safe communities for residents and increase the multifamily living experience.

South Korea Access Control Market Leaders

1. Thales Group

2. Bosch Security System Inc.

3. Honeywell International Inc

4. Tyco International PLC (Johnson Controls)

5. Allegion PLC

*Disclaimer: Major Players sorted in no particular order