According to SDM’s 2023 Industry Forecast, more than 1 in 2 (56 percent) security professionals expect revenue from access control systems (on-premise and cloud-based) to increase in 2023, marking a healthy 10-point jump from the previous year.

Pull back the view on the electronic access control (EAC) market and the rise in revenue among Industry Forecast respondents would seem consistent with various market research reports that generally have the North America region growing at a compound annual growth (CAGR) of around 9.5 percent. EAC sales revenue totaled around $4.4 billion in 2022, according to Future Market Insights. The region’s market size is projected to surge from $4.7 billion in 2023 to around $12.1 billion by 2033.