Posted On: 2019-07-02
Mobile Credential market is expected to witness prominent growth over the coming years owing to mounting technology sector and growing commercialization across the globe. In 2018, Americas and the European regions captured majority of the market revenues due to rise in security and surveillance spending among organizations and institutions. However, Middle East and Africa are expected to record key growth over the coming years due to growing security concerns and rising awareness of access control solutions across the region.
According to 6Wresearch, Global Mobile Credential Reader Market is expected to grow at a CAGR of 29.2% during 2019-25. The global mobile credential reader market is anticipated to register substantial growth primarily due to improving economic performance as a result of increasing Foreign Direct Investment (FDI) and government spending.
Globally, Near Field Communication (NFC) enabled mobile credential reader market is expected to cross $150 million by 2025. Flourishing tourism sector in countries, rising security concerns, and increased IT spending are expected to further propel the demand for mobile credential readers during the forecast period. Meanwhile, NFC supported credential solution is majorly dominated in Americas as consumer adoption is leaned towards NFC enabled smartphones in the territory.
According to Anuj Mehrotra, Assistant Manager, Research and Consulting, 6Wresearch, In Communication type, Near Field Communication (NFC) acquired majority of the market revenues in 2018 due to its easy compatibility with smartphones. However, over the coming years, combination of NFC and Bluetooth Low Energy (BLE) enabled mobile credential reader devices are expected to capture majority of the market revenues, covering ideal attributes of both communication types and low ownership cost when compared to installation of stand-alone devices.
According to Richa Sood, Research Associate, Research and Consulting, 6Wresearch, Globally, the commercial sector and education sector are expected to capture majority of the market revenues over the coming years on the back of government spending in education sector along with growing commercialization. Meanwhile, higher number of smartphone users in the Asia Pacific region is likely to emerge as a major growth driver of mobile credential readers in the region.
Some of the key players in Global mobile credential reader market include: HID Global Corporation, Suprema Inc, Amag Technology Inc, Allegion plc, Identiv Inc, Honeywell Security Group, Stid, Dormakaba Holding AG, Keri systems Inc. and TDSi.
"Global Mobile Credential Reader Market (2019-2025)" report thoroughly covers the market by communication type, verticals and regions including Americas, Asia Pacific, Europe and Middle East Africa. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.