Access Control as a Service market | Sales, Industry Trends &...

Access Control as a Service market | Sales, Industry Trends & Analysis | MRFR Report.

Posted 2023-02-08 06:54:01

Access Control as a Service Market

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.

Access control as a service is a cloud-based solution that is deployed to authenticate and thus allow users to improve the physical security of the facility, as well as to optimize business processes and end-user experience across the network. This allows users to gain access to web applications and services from anywhere. For example, PopSockets LLC has deployed the Pure IP access control system of ISONAS across its Colorado premises to limit employees' access. The Pure Access Cloud of ISONAS is a cloud-based software that can be conveniently deployed around the facility. This provided PopSockets with greater scalability, reduced infrastructure costs, and operating costs.

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Market Dynamics

With the advent of bring your own device (BYOD) in IT companies, security issues have been linked to the growth of access control as a service market. In addition, the growing usage of cloud computing platforms, along with the adoption of IoT, is accelerating market growth. On the other hand, the lack of knowledge among system integrators hinders the growth of the market. Furthermore, the implementation of access control as a service from third-party providers can result in vulnerabilities and data breaches.

Market Segmentation

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.

Regional Analysis

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. Nonetheless, there is a lack of infrastructure provided by these countries to promote adequate security and data protection solutions. This reinforces the need for access control as a service in the Asia Pacific region.

Key players

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). These players mainly focus on extending their market presence in emerging geographies by partnering with locally-operated companies in the region.

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