$3.7bn
$XXX.Xm
22,173
262
$XXX.Xm
The Electronic Access Control System Manufacturing industry produces smart cards, fingerprint scanners, biometric systems, and other access control systems, including keypads. The industry has recently been affected by volatile downstream markets, the effects of import penetration and the outbreak of the pandemic. As a result, industry revenue has been declining at an annualized rate of 4.4% over the past five years and is expected to reach $3.7 billion in 2023, although this conceals significant year-to-year volatility. Industry profit has similarly fallen due to lower demand and high competition from foreign manufacturers, with profitability overall waning to 5.6%. Industry revenue is poised to undergo course correction in 2023, inclining 1.2% as macroeconomic conditions improve.The COVID-19 pandemic significantly reduced demand for industry products through lower corporate profit, decreased international trade and a decline in the size of the commercial market. With significant budget constraints, organizations were pressured to justify the benefits of upgrading to new systems. The industry also experienced a plummet in demand from foreign clients. Exports were significantly depressed amid the pandemic. Domestically, industry enterprises experienced declining demand due to reduced nonresidential construction. At the same time, the pandemic accelerated some technology trends, such as the adoption of mobile access and contactless access systems, supporting the industry to some extent.Looking ahead, commercial and government customers are both slated to invest more in the security market. Mounting levels of corporate profit will likely in turn result in a recovery in the the value of nonresidential construction. Restored commercial markets along with an expansion of local and state government spending is expected to benefit industry enterprises. A slowdown in import consumption, as a result of increased trade tensions between the US and China, should help bolster domestic demand for industry products and drive future growth. Manufacturers are poised to increasingly invest in biometric technology due to the higher security and larger profit potential of biometric access control systems. Industry revenue is projected to climb at an annualized rate of 1.2% to $3.9 billion over the five years to 2028, as profit stabilizes at 5.5%.
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated $3.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Honeywell International Inc. | 567.7 | 120.8 | 21.3 | |
Identiv, Inc. | 30.2 | 4.4 | 14.5 | |
Carrier Global Corporation | 0.0 | 0.0 | 23.3 |
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Industry revenue is measured across several distinct product and services lines, including Card-based systems, Biometric systems and Keypad, audio and other systems. Card-based systems is the largest segment of the Electronic Access Control System Manufacturing in the US.
Card-based systems make up the lion's share of industry revenue
Companies in this industry manufacture electronic access control systems, including card-based (proximity cards and smart cards), audio-based (intercom and telephone), video-based and keypad-based systems.
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NAICS 33429 - Electronic Access Control System Manufacturing in the US
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The pandemic siphoned demand from commercial markets due to office vacancies and work stoppages depleting new private nonresidential construction. While growth in use of elec...
Learn about an industry's products and services, markets and trends in international trade.
Commercial markets were depleted by pandemic-induced closures. As commercial markets make up a significant portion of industry revenue, this loss was in part offset by a grow...
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Establishments in the industry are typically located near large populations due to the presence of commercial and residential customers. Moreover, the industry's focus on res...
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Growing external competition from low-cost imports continues to threaten domestic markets. This dynamic has led to intensified price competition even between domestic manufac...
Learn about the performance of the top companies in the industry.
After being accused of exporting secret drawings of F-35 fighter jet parts and other weapons to other countries, Honeywell has reached a $13.0 million settlement with the US S...
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The COVID-19 pandemic resulted in work stoppages and office vacancies that by extension led to a dramatic plunge in the value of private nonresidential construction. Due to t...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Industry profitability has waned in correlation with falling revenue, as much of the demand for electronic access control system manufacturing was siphoned by depleted commerc...
Including values and annual change:
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The market size of the Electronic Access Control System Manufacturing in the US industry in United States is $3.7bn in 2024.
There are 262 businesses in the Electronic Access Control System Manufacturing in the US industry in United States, which has grown at a CAGR of 0.9 % between 2019 and 2024.
The market size of the Electronic Access Control System Manufacturing in the US industry in United States has been declining at a CAGR of 4.4 % between 2019 and 2024.
Over the next five years, the Electronic Access Control System Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Electronic Access Control System Manufacturing market in United States are Honeywell International Inc., Identiv, Inc. and Carrier Global Corporation
Manufacturing card-based systems and Manufacturing keypad, audio and other systems are part of the Electronic Access Control System Manufacturing in the US industry.
The company holding the most market share in United States is Honeywell International Inc..
The level of competition is moderate and increasing in the Electronic Access Control System Manufacturing in the US industry in United States.