Market Trends of Middle East And Africa Pin-based Access Control Industry
Commercial To Hold Significant Market Share
- Organizations are ensuring the necessary safety control processes. Well-organized and controlled access to company sites, offices, and facilities provides security and enhances trust in staff, customers, and suppliers. The market for pin-based access control systems is expected to grow due to increasing safety consciousness, the growing demand for high-level access control systems, and the adoption of access control devices in commercial organizations.
- Several companies offer access control services in the security field, which different businesses can install. Other access control systems come with various identification protocols. Various international businesses are opening new offices in Middle Eastern countries, such as the United Arab Emirates, Saudi Arabia, and others, to expand their business in the region. For instance, in March 2024, Cyril Amarchand Mangaldas, a prominent legal firm in India, established its second international office at the Abu Dhabi Global Market (ADGM) in the United Arab Emirates, a renowned international finance hub. Such new offices and commercial spaces will boost the demand for pin-based access control systems to maintain security.
- While smart office technology is growing in popularity, pin-based access control systems can be a crucial piece of this technology, and security will likely prioritize making access control system decisions. With the advancement in wireless technology, components are enhanced to cater to the growing demand for physical security, such as mobile applications wherein the employee enters the security pin on the smartphone.
- The increased number of commercial buildings in the leading countries of Middle East creates new market opportunities for pin-based access control systems. Commercial buildings accounted for around 18% of the total buildings in Abu Dhabi, which numbered approximately 282,000 during the period. Commercial door lock systems with keypads provide enhanced security, eliminating the need for physical access keys ,several property owners and senior management professionals alternate the PIN code from time to time to ensure that only authorized personnel can access the space.
Understand The Key Trends Shaping This Market
Download PDF
United Arab Emirates To Hold Significant Market Share
- Urbanization in the country is driving the need for access controls in residential and commercial areas owing to security concerns. Technological advancements and digitalization drive the demand for solutions across organizations. Furthermore, the cumulative adoption of smartphones and mobile computing devices will drive the adoption of the pin-based access control market across the country.
- Financial institutions are using sophisticated technology and monitoring techniques to ensure user safety while offering the convenience of online banking. With increasing thefts, banks have integrated multi-factor authentication, such as PINs or passwords, and biometric authentication. The substantial increase in data breaches in the country is increasing, pin-based access provides users with another layer of security to secure themselves.
- With the increasing revenue of financial and banking institutions, there is a growing need to secure transactions with multi-factor authentications. QNB (Qatar National Bank) reported a current revenue of $10.79 billion in the trailing twelve months (TTM) as per their latest financial reports. In 2023, the bank's revenue rose to USD 10.30 billion, marking an increase from the USD 9.39 billion recorded in 2022. This is expected to boost the pin-based access control market in the country.
- As the popularity of physical and cyber security systems continues to increase, several industries are implementing multi-factor authentication policies to reduce severe security breaches. According to Avilgilon's research multi-factor authentication can prevent up to 90% of attacks that cause property access passwords to be compromised.
Get Analysis on Important Geographic Markets
Download PDF
