Market Trends of South Korea Access Control Industry
Biometric Readers is Expected to Witness Remarkable Growth
- The increasing number of airport passengers further accelerates the adoption of access control systems at airports. For instance, in July 2023, Incheon Airport started using pre-registered facial information to modernize the departure process for passengers. The new facial recognition smart pass service allows passengers to instantly pass through the identification process at boarding and departure gates without showing their boarding passes or passports to security personnel.
- Facial recognition attendance system provides accurate data with little human intervention and can prevent activities such as buddy punching by providing security features such as Anti-spoofing, which detects and prevents attempts to circumvent the system using photos or masks, which is one of the most popular ways of stealing employee time. A facial-based attendance management system is used by employees, staff, or workers in the following industries: automotive, manufacturing, software development companies, small offices, school colleges, and malls. High-speed Facial recognition and the ability to handle a large number of users make it suitable for large organizations with multiple employees or residents.
- Biometrics plays an increasingly significant role in preventing identity theft and safeguarding healthcare information by providing secure, centralized access to medical records. Biometric access control systems are used to monitor the attendance of doctors and staff to check their presence in the hospitals. Instant access to medical rooms or equipment might be crucial in a hospital or clinic environment. The authentication procedure must be quick and precise to restrict access points without slowing workflow. Clinicians can easily regulate admission using an access control system with contactless identification, which drives the segment's growth.
- The increasing requirement for high-quality access systems, reduced costs, and the increasing functionality of biometric systems are driving their growth in the market. It also offers other key benefits, which include increased productivity and elimination of system inaccuracies, tracking excessive overtime, enabling multifactor authentication, and multi-nodal authentication (i.e., use of multiple data enrollments).
Understand The Key Trends Shaping This Market
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The Residential Segment Holds a Significant Share in the Market
- The South Korean residential sector holds a significant share in the access control market owing to the large number of residential buildings in the country and government support and investment to construct new homes. For instance, South Korea’s Ministry of Land announced that the Yoon administration will provide 2.7 million new homes in South Korea from 2023 through 2027.
- Seoul, the capital city of South Korea, is focusing on redevelopment. According to the Ministry of Land, Infrastructure, and Transport of South Korea, Seoul will be supplied with around 1.6 million homes. Around 520,000 homes will be provided under the reconstruction, redevelopment, and downtown development projects, and 880,000 homes will be available to the general public. Private developers will construct the remaining 1.3 million houses. Such infrastructure development plans and projects in the country will create immense opportunities in the coming years.
- Residential building investment in the private sector is anticipated to improve in the coming years due to the commencement of the third phase of new cities, a revitalized remodeling market, and the deregulation of maintenance projects. The increased number of residential buildings is expected to boost the demand for access control solutions such as electronic locks, biometric readers, card readers, and access control software.
- With the growing digitalization and adoption of the cloud, the 5G network is expected to accelerate the demand for access control software in the country. Similarly, with the growing crime and robbery activities in buildings and social places, access control systems are expected to gain momentum in the coming years. For instance, according to the South Korean Police, the country has been seeing more than three random attacks on strangers every day, with 925 cases of assault, murder, or bodily harm recorded during the first half of 2023.
