Access Control and Authentication Market Worth $22.7 Billion by 2027- Pre and Post COVID-19 Estimates by Meticulous Research®

London, May 21, 2020 (GLOBE NEWSWIRE) — According to a new market research report titled, “Access Control and Authentication Market by Technology (Biometrics, Smart Card, Electronic Locks), Component, Application (Residential/Commercial, IT Telecom, BFSI, Retail, Defense, Healthcare, Manufacturing, Hospitality) – Global Forecast to 2027”. The access control and authentication market is expected to grow at a CAGR of 11.2% from 2020 to 2027 to reach $22.7 billion by 2027.Factors such as increasing government focus towards improving public infrastructure with the incorporation of latest technologies; growing demand for high-level security technologies, largely amongst BFSI consumers; increasing need for an effective security system; and consistent technological developments are driving the growth of the access control and authentication (ACA) market. Moreover, the increasing strategic partnerships among advanced technology providers and access control devices manufacturers to strengthen the product portfolio and their position in the global market is encouraging the growth of the access control and authentication market in the forecast period. However, the high initial cost of deploying biometric access control system may restrict the growth of this market in the coming years to some extent.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5097