According to a new market research report published by Credence Research “Vehicle Entrance Control Systems Market (By Component – Equipment: Access Credentials, Readers, Cameras, Intercoms, Traffic Lights and Sensors: By Identification Technology: ANPR, Proximity Technology and Microwave Technology: By End-use – Residential, Commercial, Industrial, Government and Defense) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global vehicle entrance control systems market stood at US$ 2.4 Bn in 2016 and is estimated to expand with a CAGR of 8.6% from 2017 to 2025.
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The vehicle entrance control systems market has been majorly driven by increasing need to secure various organizational buildings and facilities across the world. In addition, rising instances of terror attacks in major cities across the world have made it imperative for various organizations and government bodies to deploy advanced physical security solutions to ensure public safety. Vehicle entrance control systems have offered a viable solution for organizations to deploy accurate and efficient authorization and validation systems for vehicles and personnel. Furthermore, technological advancements in identification technologies such as microwave and ultra-high frequency (UHF) have led to the growing adoption of vehicle access control systems across the world.
Vehicle entrance control systems have witnessed immense adoption in the residential sector in the recent years. These systems have enabled building managers to control and monitor vehicle entrance effectively and efficiently with limited human intervention. Furthermore, rise of high-tech and modern residential complexes in several regions such as North America, Europe and Asia Pacific is expected to further fuel the market growth. Thereby, the vehicle entrance control systems market in the residential sector is expected to witness a significant growth during the forecast period.
Vehicle entrance control systems have also gained immense popularity in various industrial applications. For instance, industries such as oil and gas, mining, storage and warehousing have been making use of these systems to control and assess vehicle traffic within critical locations. With the use of vehicle entrance control systems, such organizations have been able to secure and protect work sites against any vehicular damage or attack
The global vehicle entrance control systems market is fairly fragmented with numerous providers catering to various regions in the world. Some of the leading players which have prominent presence all across the world include Nedap N.V., TAKE Solutions, Control Systems, Inc., ATEC Security Ltd., STid, Synel MLL PayWay LTD, Cardzme, TagMaster North America, Inc., FAAC Group and TIBA LLC. And Signature Control Systems. among others. Apart from these global players, there are numerous companies operating in various regions and have dominant presence their local markets. Thereby, the vehicle entrance control systems market is highly competitive all across the world.
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Increasing integration of vehicle access control systems with the overall physical security systems in the facility
Rising adoption of advanced technologies such as automatic number plate recognition (ANPR) and vehicle scanners
Shift towards using pedestrian and vehicle identification simultaneously
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