Middle East And Africa Pin-based Access Control Market Size

Middle East And Africa Pin-based Access Control Market Analysis

The Middle East And Africa Pin-based Access Control Market size is estimated at USD 52.10 million in 2024, and is expected to reach USD 64 million by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).

• Pin-based access controls are easily scalable, making them suitable for SMEs who want to secure their data without having to spend extra money. Several pin-based access control systems can track who accessed a particular area along with time. These systems are often compatible with the existing infrastructure, making them a convenient choice to integrate into older security systems.
• The increasing privacy and security concerns and the growing theft activities pertaining to crucial data and information are contributing to the growth of the market. The increasing crime rates in the Middle East and Africa accelerated the adoption of access control systems, which are becoming a crucial part of managing access at commercial offices, buildings, businesses, and residential buildings. These systems offer enhanced property security for tenants and staff, who can quickly enter with credentials while denying access to unauthorized individuals.
• According to Numbeo, in 2024, Abu Dhabi clinched the world's safest city title, boasting an impressive safety index of 86.8 and a remarkably low crime rate of 13.1. Not far behind, Dubai, Ajman, and Ras Al Khaimah in the United Arab Emirates secured the fourth, fifth, and sixth positions in the global safety rankings. Whereas, South Africa crime rate stood at 74.8, which is very high. Similarly, other african countries are having high crime rates which creates huge demand for the safety systems such as pin-based access control.
• Despite facing challenges like persistent inflation, high interest rates, and geopolitical tensions, the UAE's residential projects market continues to show resilience. in Q1 this year, residential projects are forecast to make up USD 125 billion (21% of the total), with mixed-use projects leading at USD 232 billion (39%). Such factors are expected to boost the demand for pin-based access control systems in residential sector of the region.
• Biometric authentication is gaining traction in multiple industries, bolstering identity verification. This technology leverages physical traits such as facial features, fingerprints, voice, and retinas for user authentication. With the rising adoption of transactional technologies, the need for robust identity verification is surging. Consequently, demand for biometric access controls is on the rise, with consumers favoring them over traditional pin-based systems, thereby impeding market growth.
• The ongoing geopolitical concerns in the Middle East hinder the market growth in this region as countries are mainly investing in defense and military expenditure. Further, increased inflation and economic slowdown restrict the consumer purchasing power in the region, which is expected to impact the market growth negatively. For instance, in MENA, Iran led with the highest inflation rate increased by 41.5% last year compared to the year before. Following it, Egypt, Algeria, Tunisia, and Morrocco recorded a significant increase in the inflation rate last year.