(MENAFN- EIN Presswire)
CHICAGO, UNITED STATES, December 1, 2022 /einpresswire.com / -- indonesia access control solutions market revenue was US$ 181.7 Mn in 2021 and the market is forecast to reach US$ 320.1 Mn by 2027, growing at a CAGR of 9.6% over the forecast period 2022-2027.
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Access control is the basis of data, network, and information security because it lowers the danger of unwanted access to physical locations and computer systems. Access control systems approve and authenticate users by assessing credentials such as passwords, security tokens, PINs, and biometric scans, among others. Multi-factor authentication, which needs two or more authentication factors, is frequently used in these systems. Physical and logical access controls fall under two broad categories. The function of logical access control is to restrict access to databases, system files, and computer networks according to a set of rules. There has never been a more crucial requirement for superior security. The proper access control systems are necessary to secure physical and informational assets, save labor costs, and protect staff and employees as a result of the constant evolution of physical and virtual dangers.
Factors Influencing Market Growth
Increased technology adoption in Indonesia, rising consumer awareness of home security systems, and expanding use of cloud-based solutions are some of the main factors driving the market. Indonesia is the top spender on information technology in South East Asia nation. Internet usage accounted for 3.6% of the country's GDP in 2019. Additionally, Indonesia is the fourth largest mobile market in the world with a mobile penetration rate of 112% and a total of 266 million members. As a result, the increasing technology adoption will fuel market expansion.
Additionally, an increase in fraud, cyberattacks, and regulatory demands for authentication have raised awareness of security systems at homes and businesses. Integrating several technologies, including electric locks, door sensors, video intercom panels, video surveillance, readers, access control panels, etc., access control management systems boost convenience and dependability. Additionally, access control systems use cloud-based software to store logs, data, credentials, and other information on a distant server. Thus, the expanding use of cloud-based sensors in the country is fueling market expansion.
Additionally, the widespread use of contactless biometric technology is creating a profitable prospect for market growth. Millions of government employees in Indonesia are already receiving smart card IDs, paving the door for future closed systems that provide identification and payment authentication.
However, the hefty initial setup costs may restrict the overall market growth.
Impact Analysis of COVID-19
Due to buildings being closed, the pandemic caused a pause in security and integration initiatives in Indonesia. However, when businesses started to reopen following the pandemic, the sector rapidly noticed a demand for access control solutions. The use of biometric techniques, including hand signals, iris scans, and facial recognition readers is likely to rise. Additionally, the growing popularity of working from home has boosted cyberattacks and fraud, fueling the necessity for sophisticated authentication and technology. Demand for identity management and verification systems will increase with the shift to digital identity management and verification. Thus, these factors drive market growth.
Segmentation Summary
In 2021, in terms of components, the hardware segment dominated the Indonesia access control solutions industry and is forecast to maintain its position over the forecast years. In addition, in the hardware segment, the biometric reader segment accounted for a significant market share. The biometric reader segment divides into palm recognition, voice recognition, iris recognition, fingerprint recognition, and facial recognition. Owing to the increased demand for surveillance and security in the business sectors.
In 2021, on the basis of application, the commercial segment acquired a significant share in the Indonesia access control services industry. In addition, within the commercial segment, the corporate segment led the market. Enterprises can protect multiple locations simultaneously using cloud-based access control solutions due to their flexibility and scalability. Additionally, as IT positions become more mobile and adaptable, their departments need flexible, remote access control solutions. The access control system can keep server room access restricted to IT staff only. On the other hand, the others (military & defense, education, etc.) segment will exhibit the highest annual growth rate over the analysis period.
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Leading Competitors
The leading companies in the Indonesia access control solution market are:
Golden Solution Indonesia
Avematic Security
HIT Corporation
Thano Technologies,
Mandiri Citikom Indonesia
Thales Group
Other Prominent Players
Segmentation Outline
The Indonesia access control solution market segmentation focuses on Components and Applications.
By Component Segment
Hardware
Card-Based Readers
Magnetic Stripe Readers
Proximity Card Readers
Smart Card Readers
Biometric Readers
Fingerprint Recognition
Palm Recognition
Iris Recognition
Facial Recognition
Voice Recognition
Multi-Technology Readers
Electronic Locks
Electromagnetic Locks
Electric Strike Locks
Smart Locks
Controllers
Serial Access Controllers
IP Access Controllers
Others
Software
•On-premises
•Cloud-based
Services
Installation and Integration
Maintenance and Support
Access Control as a Service (ACaaS)
Hosted ACaaS
Managed ACaaS
Hybrid ACaaS
By Application Segment
Commercial
oRetail stores and malls
oHospitality
o Corporate
o Healthcare
oOthers (BFSI, Personal Spaces, etc.)
Industrial
o Manufacturing
oOil & gas
oEnergy & power
oTransportation
oLogistics
oOthers (F&B, Packaging, Chemical, Consumer Goods, etc.)
Residential
Condominium
Individual houses
• Government Institution
• Others (Military & Defense, Education, etc.)
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