Description

For decades, access control systems have been the linchpin in many organizations’ physical security strategies, enabling them to secure all entry and exit points around their perimeters and protect their employees, customers, and assets from potential threats. Because of these systems’ longevity, solutions really have not changed significantly in the last few decades despite ongoing digitalization throughout the security industry, with still required to present some kind of physical token, be it an ID badge, card, or key in some reader or lock, in order to verify that they have permission to enter a facility. However, the security lapses linked to these tokens have exponentially raised their vulnerability.

While digital solutions including biometric readers and scanners and improved integration of access control data with other physical security system data have begun appearing, the transition was occurring slowly when compared with other physical security technologies. However, the COVID-19 pandemic and the rapid transition to hybrid workforces proved to be the seismic shift needed to reinvigorate the access control solutions industry. Suddenly, organizations were seeking solutions that could better enable remote monitoring and provide integrated views of multiple work sites, digital onboarding, biometric credentials for identity verification, and multiple other functions.

The global access control solutions market includes a tight group of legacy vendors that have continued to offer hardware as well as additional software as digitalization slowly began to take hold. Now though, the requirements for physical access systems have enabled new vendors to enter the market and spurred additional innovation by competitors looking to preserve their advantage in the long term. This benefit customers through more choice, additional functionality, and a more rapid pace of technical development that had been missing in this industry.

This Frost Radar™ benchmarking analysis evaluates leading vendors in terms of overall revenue growth, product and solution offerings, growth strategy, commitment to innovation, and understanding of current and future market trends.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned.

Author: Danielle VanZandt