The mobile access control credentials market is experiencing significant growth, set to reach over $750 million by 2028 with a compound annual growth rate of about 17%. Why? Mobile credentials, using NFC or Bluetooth technology, offer more convenience, robust security and money savings compared to traditional methods. The adoption of mobile credentials is particularly prominent in higher education, where universities leverage the technology to meet the demands of today’s mobile-driven world, improving security and operational efficiency.
Additionally, the multifamily residential market is ripe for disruption, with mobile credentials transforming access control in managed residential properties and multi-dwelling units for the benefit of convenience and security. The combination of mobile credentials and wireless locks is shaping a new era of access control, making property management more efficient and meeting the evolving expectations of tenants. The integration of mobile credentials with property management systems and building automation further streamlines processes, contributing to a more seamless and secure experience.
Looking ahead to 2024, trends in the mobile credentials space include the development of reader hardware with features like auto-presentment, enabling seamless integration with Apple and Android wallets. Advances in distributed identity management aim to enhance the security and reusability of mobile credentials, further driving their adoption across various verticals. Despite some challenges, there is a clear consensus that mobile credentials are a key part of the future of access control. Exciting things await—read the SJA article to learn more.
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