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Vehicle Access Control Market Trends

Report ID: GMI9886
Published Date: Jun 2024
Report Format: PDF

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Vehicle Access Control Market Trends

Access control systems are becoming integral to smart city initiatives, facilitating seamless vehicle management and traffic flow optimization. As the government investment in smart city increases it increases the adoption of vehicle access control systems. Companies are forming strategic partnerships to support AI-powered smart cities. For instance, in March 2024, Thales Group, a provider of software monetization and licensing partnered with Neural Labs, a company that provides video analysis for Smart Cites and AI-based Intelligent Transportation Systems (ITS) to enabled secure, efficient and practical solutions for vehicle access control and logistical planning.

Companies operating in the market are offering customizable access control solutions that can be tailored to meet the specific needs of different areas, such as parking lots, gated communities, and industrial facilities. Companies are providing scalable solutions that can grow with the requirements of the area, accommodating increasing traffic and evolving security needs. Furthermore, various buildings are using data collected from access control systems to make informed decisions regarding traffic management, security enhancements, and operational improvements.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of vehicle access control reached USD 10.7 billion in 2023 and is set to witness over 9% CAGR between 2024 and 2032, owing to the growing demand for enhanced security measures at gated facilities.

The non-biometric segment in the vehicle access control industry held over 55% share in 2023 and is poised to cross USD 12.5 billion by 2032, attributed to its cost effectiveness and convenience.

North America market held over 37% share in 2023, due to significant number of vehicle thefts, which has heightened the need for advanced vehicle access control systems to protect against unauthorized access.

Allegion plc, Avigilon Corporation (Motorola Solutions Inc), Axis Communications AB, Bosch GmbH, Dormakaba Holding AG, HID Global, Honeywell Corporation, Identiv Inc., Johnson Controls, Nedap Identification Systems, and Siemens AG.