New York, United States , May 31, 2023 (GLOBE NEWSWIRE) -- The Global Access Control as a Service (ACaaS) Market Size is to Grow from USD 1075.9 million in 2022 to USD 4310.8 million by 2032, at a Compound Annual Growth Rate (CAGR) of 7.04% during the projected period. The rising adoption of cloud-based services in several industries including commercial, residential, manufacturing & industrial, government, retail, utilities, and others is expected to boost the demand for access control as a service market during the forecast period.
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Access Control as a Service (ACaaS) combines the benefits of SaaS with on-premises access control hardware. Furthermore, these cloud-based solutions limit access autonomously and securely backup and preserve data, providing long-term documentation of who accessed controlled regions or systems. ACaaS is a low-cost, scalable, and easy-to-implement and administer solution. The increasing prevalence of connected facilities encourages the acceptance and implementation of access control services, and one of the drivers driving the development of the access control as a service market is the increased use of IoT-based security systems in conjunction with cloud computing platforms. Furthermore, as small and midsize enterprises shift their focus to cloud solutions, cloud-based data security solutions and service providers are expected to find significant growth opportunities, such as protecting SMEs' data from data theft and risk factors. The switch from comprehensive security systems to cloud-based ACaaS has proven quite successful for many businesses.
Browse key industry insights spread across 200 pages with 125 market data tables and figures & charts from the report on "Global Access Control as a Service (ACaaS) Market Size, Share, and COVID-19 Impact Analysis, By Service Type (Hosted, Managed, Hybrid), By Deployment Type (Public Cloud, Private Cloud, Hybrid Cloud), By End-use Industry (Commercial, Residential, Manufacturing & Industrial, Government, Retail, Utilities, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The hybrid segment is dominating the market with the largest revenue share over the forecast period.
On the basis of service type, the global access control as a service (ACaaS) market is segmented into the hosted, managed, and hybrid. Among these, the hybrid segment is dominating the market with the largest revenue share of 46.2% over the forecast period. Neither the attributes nor the responsibilities are directly linked to the permissions in this architecture. These attributes are used for identification and flexible role assignment, which allocates roles to individuals based on their specified qualities.
The hybrid cloud segment is witnessing significant CAGR growth over the forecast period.
On the basis of deployment type, the global access control as a service (ACaaS) market is segmented into public cloud, private cloud, and hybrid cloud. Among these, capacitive is witnessing significant CAGR growth over the forecast period. This rise can be attributed to the growing use of hybrid cloud platforms, which provide companies benefits such as scalability, adaptability, multi-cloud computing space, and security assurance. Furthermore, the hybrid cloud allows businesses to benefit from both public and private cloud systems.
The retail segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of the end-use industry, the global access control as a service (ACaaS) market is segmented into commercial, residential, manufacturing & industrial, government, retail, utilities, and others. Among these, discrete industries are dominating the market with the largest revenue share of 37.2% over the forecast period. It is crucial in the retail industry for ensuring staff safety, minimizing business disruptions, and minimizing monetary losses.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 48.3% market share over the forecast period. This dominance can be ascribed to the presence of big economies like the United States and Canada, as well as emerging economies like Mexico. Furthermore, rising end-user adoption of electronic security products, as well as the availability of advanced technological security solutions, are driving expansion in this region's primary market. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Access Control as a Service (ACaaS) Market include Thales, Microsoft Corporation, Cisco Systems, M3T Corporation, Assa Abloy, Cloudastructure Inc., Brivo Inc., Identiv, Inc., Honeywell Security, Gemalto NV, Bosch Security Systems Inc., Datawatch Systems Inc., Johnson Controls, Kisi Inc., Dorma+Kaba Holding AG, AMAG Technology, Inc., Centrify Corporation, and among others.
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Recent Developments
On April 2022, Johnson Controls announced the acquisition of Security Enhancement Systems LLC (SES), a developer of mobile-based, keyless access control solutions for critical infrastructure, such as telecommunications towers for major providers. SES will complement Johnson Controls' existing portfolio of security and access control technologies, which includes security and access controls, video management, security as a service, IP cameras, door controllers, and card readers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Access Control as a Service (ACaaS) Market based on the below-mentioned segments:
Access Control as a Service (ACaaS) Market, Service Type Analysis
- Hosted
- Managed
- Hybrid
Access Control as a Service (ACaaS) Market, Deployment Type Analysis
- Public Cloud
- Private Cloud
- Hybrid Cloud
Access Control as a Service (ACaaS) Market, End-use Industry Analysis
- Commercial
- Residential
- Manufacturing & Industrial
- Government
- Retail
- Utilities
- Others
Access Control as a Service (ACaaS) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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