Sep 16, 2020 3:38 PM ET
iCrowd Newswire – Sep 16, 2020
Mobile-based access control apps offer secured access to rooms, buildings and different areas to users via mobile access control, with just a few clicks on their mobile devices, such as smartphones, tablets, and wearable devices. Increase in penetration of smartphones, implementation of the Internet of things (IoT), and rise in concern related to security and privacy are boosting the adoption of mobile access control solutions. Rising consumer awareness regarding advantages of advanced security solutions is anticipated to positively influence the demand for mobile-based access control platforms worldwide.
According to our latest market study on “Mobile Access Control Platform Market Forecast to 2027 – COVID-19 Impact and Global Analysis –by Technology (NFC and Bluetooth), Application (Commercial, Automotive, and Others), and Geography,” the market was valued at US$ 122.1 million in 2019 and is projected to reach US$ 782.0 million by 2027; it is expected to grow at a CAGR of 27.1% from 2019 to 2027.
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Technologies used in mobile access control platforms include Bluetooth and Near Field Communications (NFC). The use of contactless applications and technologies, such as Bluetooth and NFC, is continuously surging across the world. Companies are progressively concerned about the security and protection of their physical environment. Thus, various commercial buildings and automotive manufacturers are highly engaged in implementing such technologies in their systems. These factors lead to the growth of the mobile access control platform market since these technologies are employed for mobile access.
Impact of COVID-19 Pandemic on Mobile Access Control Platform Market
According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are some of the worst affected countries due to COVID-19 outbreak. The outbreak first began in Wuhan, China during December 2019, and since then, it has spread at a fast pace across the globe. As of August 26, 2020, there were ~23,697,273 confirmed COVID-19 cases globally, with ~814,438total deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020, which is likely to continue in 2021 as well. The pandemic has disturbed mobile access control platform businesses and suppliers around the globe. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted the mobile access control platform market.
Product developmentis themost commonly adopted strategyby companies to expand their product portfolio. Kisi Inc.; Remotelock; Openpath, Inc.; Salto System; and Proxy Inc. are among the key market players. They areimplementingstrategiesto enlarge the customer base and gain significant share in the mobile access control platform market, which, in turn, permits themto maintain their brand name in the global market.
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