According to a report by MarketsandMarkets, the global pedestrian access control market size, which includes speed gates, was valued at USD 1.8 billion in 2020 and is projected to reach USD 3.6 billion by 2025, growing at a CAGR of 14.4% during the forecast period.
The demand for speed gates is increasing due to the growing need for security and access control in high-traffic areas such as airports, government buildings, and corporate offices. The demand for speed gates is also growing in the hospitality industry, including hotels and resorts, as well as in public transportation facilities such as metro stations and bus terminals.
In terms of the type of speed gate, optical turnstiles (such as Slide, Sweeper, Speedblade) are expected to hold the largest market share due to their high accuracy, reliability, and ease of use.
Full-height turnstiles (such as Sesame, Highway, GlassGo) are also expected to grow at a significant rate due to their high level of security and durability.
Geographically, the Asia Pacific region is expected to hold the largest market share in the speed gate market due to the increasing urbanization and infrastructure development in the region.
Overall, the speed gate market is expected to continue to grow in the coming years due to the increasing demand for security and access control solutions in high-traffic areas, as well as the development of advanced technologies such as biometrics and artificial intelligence in the security industry.