Global Vehicle Access Control Market Forecast and Trends

The global Vehicle Access Control Market is worth USD 9,317 million and anticipated to grow nearly at a CAGR of 11.6 % to reach US$ 21,928 Million by 2026. The key driver of the market for vehicle access control systems is the increase in demand for robust security and safety controls, which has driven companies around the world to introduce innovative safety solutions based on technology. Vehicles have become a critical and vulnerable part of the day-to-day operations of any business, and it has become essential to track and track the movement of cars in and out of locations. Besides, rising crime rates are another factor that fuels the global market for vehicle access control systems.

The growing concern for vehicle safety, the rising production of PCs and LCVs, and the increasing demand for electric vehicles have led to a rise in the market. Premium car models would provide another viable and competitive revenue stream for vehicle access based biometric systems in the automotive industry in the future. The implementation of advanced vehicle access control technologies, such as keyless entry, monitoring, and fingerprint-enabled ignition switches, to enhance driver experience is expected to drive market growth.

Global Vehicle Access Control Market Overview:

Vehicle Access Control System (VAC) is an electronic system designed to control the movement of vehicles through a facility or environment. The system automatically handles all vehicle entry decisions, i.e., vehicle image capture, vehicle list management, access decisions, and barrier monitor. The Vehicle Access Control System manages a maximum of 400 licenses, which may include access cards, license plates, PIN/keypads, and mobile access cards. The system can send an email notification, stream video, and record video to the Secure Digital card when unauthorized vehicles are detected.

Growth drivers

Advancement in the Technology

The advent of the cloud and the Internet of Things (IoT) have had a significant impact on the entire security industry as a whole, and this certainly involves the market for access control. Such digital innovations have opened up new possibilities for conventional access control systems in the past, such as remote monitoring, less complicated increments, and central reporting/management.

Increasing Threats due to rising crime rates

The rising instances of car thefts worldwide are particularly necessitating the installation of vehicle access control systems. In particular, the improved safety features provided by modern vehicle access control systems enable car owners to outfit their vehicles with these devices. Growing concerns about the safety and security of vehicles in both developing and developed countries are expected to drive demand for vehicle access control systems over the forecast period.

Restraints

Higher Maintenance Cost and the complexity in operating Vehicle Access Control Market

However, the high maintenance costs associated with these systems are expected to hinder the market growth of Vehicle Access Control Market in the forthcoming years. Integrating biometric access control systems into a vehicle may be a challenging task for car companies, end-users may also find it challenging to get to know the latest and creative vehicle access control systems, which may also deter the growth of Vehicle Access Control Market.

Global Vehicle Access Control Market: Type

Based on Type, the Vehicle Access Control Market segmented into Biometric System, and Non-Biometric System. The non-biometric system segment is projected to be the largest and fastest-growing market since the system uses automotive sensors, which are a robust and less costly technology. Such sensors are relatively simple and are used in applications such as keyless entry, making it easy for OEMs to implement these features in almost all premium models. The trend for safety features with durability is expected to boost the market.

Global Vehicle Access Control Market: Vehicle Type

Based on Vehicle Type, the Vehicle Access Control Market segregated into PC, LCV, and HCV. The light commercial vehicle (LCV) segment is expected to be the fastest-growing market during the forecast period due to the safety features such as alarms, immobilizers, and central locking now being added as a standard attribute by OEMs in developed countries. In addition, sales of LCV are steadily increasing in many countries, which will fuel the demand for light commercial vehicles.

Global Vehicle Access Control Market: Technology

Based on Technology, the Vehicle Access Control Market segregated into Bluetooth, NFC, RFID, and Wi-Fi. The RFID system segment is expected to augment at a very high CAGR during the forecast period due to the increasing acceptability and knowledge of these systems, which are contributing to a gradual reduction in the entry of unauthorized vehicles in commercial and residential buildings. The RFID system is used to enable the entry of vehicles on toll roads and highways. Such devices can help manage traffic on different toll roads that are vulnerable to congestion.

Global Vehicle Access Control Market: Application

Based on Application, the Vehicle Access Control Market segregated into Traffic management, Sensitive sites, Toll ways, Commercial buildings, Residential buildings, and Others. The residential segment is expected to augment at a substantial CAGR during the forecast period due to rising crime rates and continuous technological advances. Commercial vertical holdings are projected to have a dominant market share and are expected to remain dominant throughout the forecast years, due to the high demand for protection of people and properties from unofficial access, the need for security solutions has increased the market for vehicle access control systems.

Global Vehicle Access Control Market: Regional insights

By geography, the global Vehicle Access Control Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is projected to expand at a significant CAGR during the forecast period due to the growing industrialization, commercialization, and high demand for safety systems that are boosting the market for vehicle access control systems in the region. North America is expected to hold a majority share of the global market for vehicle access administration systems and is expected to maintain its dominant position during the forecast period due to the trend towards early adoption of technology.

Vehicle Access Control Market: Competitive Landscape

The major market players in the Global Vehicle Access Control are •     Denso Corporation, Valeo, Continental AG, Robert Bosch, Nuance Communication, Automatic Systems, T3 Security Integration Pte Ltd., Securax Tech Solutions Pvt. Ltd., Kambar Technologies, Nedap N.V., Avon Barrier Corporation Ltd, Guangzhou COMA Electronics Co.Ltd., Nasatka Security, Vehicle Access Systems Ltd., and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.

The objective of the Study:

To analyze and forecast the global Vehicle Access Control Market size of the market, in terms of value.

To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Vehicle Access Control Market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.

To outline, categorized and forecast the global Vehicle Access Control Market based on the Type, Vehicle Type, Technology, and Application.

To examine competitive developments like technological advancement, services, and regulative framework within the global Vehicle Access Control Market.

To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

By Type

·         Biometric System

·         Non-Biometric System

By Vehicle Type

·         Passenger Car

·         Light Commercial Vehicle

·         Heavy Commercial Vehicle

By Technology

·         Bluetooth

·         NFC

·         RFID

·         Wi-Fi

By Application

·         Traffic management

·         Sensitive sites

·         Toll ways

·         Commercial buildings

·         Residential buildings

·         Others

By Region:

·         Asia Pacific (APAC)

·         North America

·         Europe

·         Middle East & Africa

·         Latin America

Business Questions answer by the report

·         How will the market drivers, restraints and opportunities affect the market dynamics?

·         What will be the market size in terms of value and volume and market statistics with a detailed classification?

·         Which segment dominates the market or region and one will be the fastest growing and why?

·         A comprehensive survey of the competitive landscape and the market participant players

·         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

·         With five additional company detail analysis

·         Additional country analysis

·         Detailed segment analysis