Speed Gate Market Size, Share, Growth, and Industry Analysis, By Type (Swing Doors, and Rectractable Doors), By Application (Station, Airport, The Mall, Bank, Hotel, and Others) Regional Forecast to 2027

Updated On: 15 April 2024

REPORT OVERVIEW

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The speed gate market size was in USD 420.0 million 2021. As per our research, the speed gate market is expected to reach USD 620.0 million by 2027, exhibiting a CAGR of 6.71% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The speed gates represent a widely employed access control and security system found in diverse environments, including office complexes, airports, public transit hubs, stadiums, and other areas with high pedestrian traffic. Their purpose is to bolster security measures, optimize access procedures, and offer an effective mechanism for supervising and regulating the movement of individuals.

COVID-19 Impact: Increased Demand for Contactless Access Control among Population to Fuel Market Growth

The pandemic expedited the acceptance of contactless access control solutions like speed gates, as these systems mitigate physical contact and lower the potential for virus transmission, rendering them increasingly attractive in a post-pandemic environment.

The pandemic's economic repercussions prompted numerous businesses and organizations to implement budget reductions. Some opted to defer or cancel investments in security infrastructure, including speed gates, as a means of resource preservation

LATEST TRENDS

"Contactless Technology, and Enhanced Security Features to Fuel Market Growth "

Contactless Technology pertains to the utilization of access control techniques and verification procedures that eliminate the need for physical contact between users and the security system. In the speed gate market, the trends associated with contactless technology revolve around the adoption and advancement of access control systems designed to minimize or entirely remove the necessity for individuals to touch surfaces or devices in order to access a facility or specific area. Radio-Frequency Identification (RFID) technology is extensively employed in contactless access control systems. Users are equipped with RFID cards, key fobs, or tokens containing embedded chips or tags. To gain entry, users simply need to hold or wave their RFID cards near a reader integrated into the speed gate. This action prompts the speed gate to open without any requirement for physical contact. This method offers not only convenience but also helps in reducing the wear and tear on the gate's components. Facial recognition technology has emerged as a prominent feature within contactless access control systems. The speed gates equipped with facial recognition cameras are capable of identifying individuals based on their facial characteristics. Users can gain access by merely approaching the speed gate, as it identifies them without necessitating any physical interaction.

SEGMENTATION

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• By Type

Based on Type speed gate market is classified as Swing Doors, and Rectractable Doors.

• By Application

Based on Application speed gate market is classified as Station, Airport, The Mall, Bank, Hotel, and Others.

DRIVING FACTORS

"Security Concerns to Fuel Market Growth "

The speed gates market growth due to heightened security concerns, especially in critical infrastructure, government facilities, transportation hubs, and corporate offices, where there is a growing demand to prevent unauthorized access.

"Urbanization and Smart Cities to Stimulate Market Progress"

The expansion of urban populations and the emergence of smart cities have spurred the demand for effective access control solutions in urban settings, including public transportation terminals, commercial complexes, and other metropolitan areas, to oversee crowd movement and enhance security.

RESTRAINING FACTORS

"Cost of Implementation to Harm Market Growth "

The initial investment in speed gates, covering hardware, software, installation, and integration with existing systems, can be substantial. This cost may act as a deterrent for certain prospective buyers, particularly smaller businesses and organizations operating within constrained budgets.

REGIONAL INSIGHTS

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"North America has Contactless technology adoption accelerated due to hygiene concerns to Drive Market Share  "

In North America, the speed gate market share is driven by heightened security concerns in critical infrastructure, transportation hubs, and commercial buildings. The rapid adoption of contactless technology, spurred by hygiene concerns amid the COVID-19 pandemic, played a pivotal role in expanding market share. Additionally, market growth was influenced by stringent regulatory compliance requirements, notably in government facilities and airports. Moreover, the rising integration of speed gates with smart building systems and IoT technologies further solidified the market's share by enhancing overall security and operational efficiency.

KEY INDUSTRY PLAYERS

"Multitude of companies that played a pivotal role in expansion of speed gate"

The speed gate market featured several prominent industry leaders known for manufacturing and supplying a diverse array of access control solutions, encompassing turnstiles and security gates. Among these, Boon Edam stood out as a global frontrunner in the manufacture of security entrances, offering an extensive portfolio that includes speed gates, turnstiles, and a wide range of access control solutions tailored to meet the needs of various industries and applications.

List of Market Players Profiled

• Cominfo Security (Pune)
• Screen Check Middle East (Dubai)
• GSG Cova Security Gates (U.K.)
• TiSO (U.K.)
• EA Group (U.K.)

REPORT COVERAGE

The future demand for the speed gate market is covered in this study. The Research report includes the Increased Demand for Contactless Access Control due to the Covid-19 Impact. The report covers the latest trends in Contactless Technology. The paper includes a segmentation of the speed gate market. The research paper includes the driving factors that are Urbanization and Smart Cities to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for speed gate.