The Latin America, Middle East and Africa Access Control Market would witness market growth of 13.0% CAGR during the forecast period (2023-2029).
Industrial users now embrace and are more aware of biometric technology than they were a few years ago. Mobile biometrics are available in the industrial sector due to the growing ubiquity of biometric authentication employing various identifying methods. Also, using facial recognition technology, businesses now identify their personnel as soon as they walk into the building. Due to their improved accessibility, mobile access control systems are becoming increasingly popular, boosting market growth.
Furthermore, mobile access control systems' rising flexibility is driving a surge in demand for them in commercial settings, fueling the market's expansion. In addition, smartphones are increasingly considered an alternative to RFID key cards since they may be used as security badges for access control due to Near Field Communication (NFC) developments. Moreover, smartphones provide increased security and hinder access to fake goods. Therefore, they are used in high-security applications, which is expected to drive market expansion in the years to come.
The Ministry of Interior (MOI), in charge of preserving the nation's border security, has been ahead of the curve by implementing iris biometric technology for almost two decades. The world's first multi-biometric e-Borders initiative was started at Abu Dhabi Airport in 2011 by MOI and IDEMIA through their joint venture, EIMASS, to enhance border security while enhancing passenger convenience and passenger convenience throughput. The first comprehensive border management system with a multi-biometric entry/exit technology to be deployed by a sovereign nation was the UAE's e-Borders project. Thus, the use of biometric technology in the region is continuously increasing, which would further support market growth.
The Brazil market dominated the LAMEA Access Control Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $361.6 Million by 2029. The Argentina market is experiencing a CAGR of 13.6% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 12.7% during (2023 - 2029).
Based on Offering, the market is segmented into Hardware (Card-based Readers, Biometric Readers, Multi-technology Readers, Electronic Locks, Access Controllers and Others), Software and Services. Based on Vertical, the market is segmented into Commercial, Military & Defense, Residential, Transportation, Manufacturing & Industrial, Healthcare, Government and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Access Control Market is Projected to reach USD 16.2 Billion by 2029, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International plc, Assa Abloy AB, Dormakaba Holding AG, Allegion Plc, Honeywell International, Inc. (Honeywell Commercial Security), Identiv, Inc., Nedap N.V., Suprema, Inc., Bosch Sicherheitssysteme GmbH (Robert Bosch GmbH) and Thales Group S.A.
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