According to Market Research Future (MRFR), the global access control as a service market had a valuation of USD 764.8 million in 2017 and is expected to reach USD 1,953.1 million with a staggering CAGR of 17.18% from 2017 to 2023 (forecast period). The report provides a complete and accurate review of the effects of the Covid-19 pandemic on the global access control as a service market.
Access control systems are used to control and administer all operations (including identification, authentication, and authorization of users) at the premises of any facility. These systems are effective in vertical industries such as BFSI, government, education, healthcare, retail, energy & utilities, and transport, among others. However, this process of monitoring and overseeing all operations around the premises results in increased costs being incurred by companies. This encouraged service providers to develop cloud-based access control solutions for both commercial and industrial purposes.
The global market for access control as a service has been segmented into service, deployment, and end-user.
- By service, the global market for access control as a service has been segmented into managed services, hybrid services, hosted services, and other services.
- By deployment, the global market for access control as a service has been segmented into public cloud, private cloud, and hybrid cloud.
- By the end-user, the global market for access control as a service has been segmented into BFSI, government, education, transportation, healthcare, retail, energy & utilities, and others.
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The prominent players operating in the access control as a service market are — Brivo Inc. (US), Assa Abloy AB (Sweden), Cloudastructure Inc. (US), Tyco International PLC (Ireland), Honeywell International (US), Microsoft Corporation (US), Symantec Corporation (US), Datawatch Systems Inc. (US), Cisco Systems Inc. (US), and Centrify Corporation (US). These players concentrate on expanding their current product portfolio by investing heavily in research and development, thereby allowing them to remain competitive in access control as a service market.
Other players operating in the ACaaS Market include AIT Ltd. (UK), Gemalto NV (The Netherlands), ADS Security (US), Vanderbilt Industries (Germany), M3T Corporation (US), KISI Inc. (US), Feenics (Canada), Protection1 Security Solutions (US), Ping Identity Corporation (US), dormakaba Holding AG (Switzerland), and Stanley Access Technologies (US).
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By region, the global access control as a service market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
North America dominates the ACaaS market due to increasing concerns about the security of companies. Throughout the North American region, most of the market is dominated by countries like the US and Canada due to continuous developments throughout cloud-based technology.
The Asia Pacific region is estimated to be the fastest-growing area in the ACaaS market due to significant investment by foreign IT companies in the region. Countries like India, Indonesia, and the Philippines are a major investment hub due to low infrastructure costs and flexible government regulations.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Access Control as a Service Market, By Segments
- Competitive Analysis
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