Monday, October 2, 2023

Speed Gate Market Set for Steady Growth: Anticipated 6.2% CAGR with Revenue Surpassing US$ 3,497.46 million by 2033 | Future Market Insights, Inc.

Last updated Thursday, September 14, 2023 20:45 ET , Source: Future Market Insights, Inc.

Newark, United States, 09/14/2023 / Future Market Insights, Inc. /

The speed gate market is predicted to be worth US$ 1,620 million in 2023 and rise to US$ 3,497.46 million by 2033. Demand initially expanded at a market CAGR of 6.2% between 2023 and 2033.

Building managers have been pushed to reconsider security precautions due to active shooter situations in North America and terrorist strikes in Europe. These incidents have led to a rise in the use of building access control in the office sector.

Speed gate adoption was initially limited to prominent office buildings, but today, corporate campuses and other multi-building sites are now in demand for speed gate installation. Internet of Things (IoT) connectivity and artificial intelligence (AI) integration into speed gates is the profitable trend prevailing in the market.

Manufacturers now have a far better grasp of providing customized solutions. As a result, speed gates and turnstiles that complement their vision and architectural purpose have been chosen by designers and architects. To achieve seamless integration, customization choices vary in shape, size, materials, and finishes.

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Speed gate makers aim to achieve a compromise between the necessity to maintain security and the goal to preserve the overall aesthetic appeal. They also focus on maintaining the architectural harmony of the surrounding area by addressing aesthetic issues during the design and production processes.

“Speed gates are cutting-edge security solutions,” emphasizes the lead analyst, “These high-tech access control systems offer swift and secure entry for authorized individuals, making them a valuable asset in enhancing physical security across various environments, from corporate offices to transportation hubs.”

Key Takeaways

  • By 2033, the speed gate market in the United Kingdom will likely expand due to emerging automation technologies.
  • The United States is a market leader due to ongoing research and development efforts and an innovative product lineup.
  • The speed gate market was significantly expanding, with a size of US$ 1,500 million in 2022.
  • China’s speed gate sector is anticipated to increase significantly due to the government’s activities regarding rail planning and security.
  • The speed gate sector is expected to develop at a US$ 2,040.73 million valuation by 2026, with rising demand in the military and defense sector.
  • India now has the fourth-leading metro system in the world, which increases the need for crowd control and management. For market participants in India, this presents new potential opportunities.
  • The commercial sector held a top spot in the market with a subsequent share. It is anticipated to control the speed gate industry by 2033 in terms of end-use.
  • Based on the product type, the tripod turnstiles segment will likely grow significantly during the forecast period.

Adapting the Changing Competitive Landscape

Businesses specializing in speed gates usually distinguish themselves through innovative product offerings and specialist knowledge. As the need for speed gates increases, manufacturers are considering new technologies and features to differentiate themselves from competitors.

Top 05 Key Players of Speed Gate Market

  • Boon Edam
  • ZKTEco
  • FAAC Group
  • Kaba Group
  • CAME S.p.A

Recent Developments

  • In June 2020, FAAC Group successfully purchased the ASSA ABLOY business segments for automatic pedestrian doors (APD) and high-speed doors (HSD). With ASSA ABLOY’s technological know-how and strategic purchase, FAAC Group expanded its research and development division activities and established itself as a leading provider.
  • In December 2020, Somfy, a company that develops and manufactures opening and shutting automation systems for residential and commercial infrastructure, announced that it had successfully acquired 60% of the shares in Repar’s stores. The purchase assisted the business in opening up the large market potential for Somfy in the repair and services industry.

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Key Segments

By Product Type:

  • Full-height Turnstiles
  • Tripod turnstiles
  • Flap Barriers

By Component:

  • Hardware
  • Software
  • Services

By End Use:

  • Transportation
  • Residential
  • Commercial
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Industrial Automation Division at Future Market Insights

The industrial automation division of FMI offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial and special purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established and budding industry stakeholders and channel partners when sustaining, growing, and identifying new revenue prospects.

Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape.

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