Chicago, March 29, 2024 (GLOBE NEWSWIRE) -- The global access control as a service market Size was valued at USD 0.9 billion in 2021 and is projected to reach USD 2.2 billion by 2027, registering a CAGR of 16.4% during the forecast period. The rise in demand for ACaaS is also attributed it increase in adoption of ACaaS from businesses at multiple locations for centralized operations.
- Johnson Controls;
- Honeywell Security;
- Thales; ASSA Abloy AB;
- dormakaba Holding AG;
- Identiv, Inc.;
- Kastle Systems;
- AMAG Technology, Inc.;
- Brivo Inc.;
- Cloudastructure Inc.;
- STANLEY Security (Securitas Technology);
- Datawatch Systems;
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Johnson Controls
Johnson Controls is a worldwide leader in the engineering, manufacturing, and commissioning of building goods and systems such as residential and commercial heating, ventilation, and air conditioning (HVAC) equipment, industrial refrigeration systems, controls, security systems, and fire detection and suppression solutions. Customers are also offered the company's technical services, which include equipment maintenance, management, repair, retrofit, and replacement (in the HVAC, industrial refrigeration, security, and fire-protection space), energy-management consulting, and data-driven smart building services and solutions powered by its OpenBlue software platform and capabilities. The diversified products of the company are sold under the YORK, Hitachi Air Conditioning, Metasys, Ansul, Ruskin, Titus, Frick, PENN, Sabroe, Silent-Aire, Simplex, and Grinnell brands.
Honeywell International Inc.
Honeywell International Inc. is a leading software company committed to introducing state-of-the-art technology solutions to improve efficiency, productivity, sustainability, and safety in high-growth businesses in broad-based, attractive industrial end markets. They commercialize technologies that address some of the most critical challenges around energy, safety, security, air travel, productivity, and global urbanization. The company offers diversified technologies, they blend physical products with software to serve customers worldwide with aerospace products and services, energy-efficient products and solutions for businesses, process technology for refining petrochemicals, and safety and security technology for buildings and industries.
Thales
Thales is a global leader in advanced technologies, investing in digital innovation of connectivity, big data, artificial intelligence, cybersecurity, and quantum technologies. The company designs and builds electrical systems and provides services for the aerospace, defense, transportation, and security markets, with its presence across the Americas, APAC, the Middle East, and Europe. The company operates through four different segments: Aerospace, Defense & Security, Digital Identity & Security, and Other. The company sells its access control as a service under the Digital Identity & Security segment which includes Digital Identity & Security (DIS) solutions to verify the identities of people and objects, authorize access to digital services, analyze vast quantities of data, and encrypt the data. The segment offers cloud protection and software licenses, such as access management, data encryption, and software license distribution solutions.
ASSA Abloy AB
Assa Abloy AB manufactures and sells door-opening solutions, such as access control, mechanical and electromechanical locking, identification technology, entrance automation, security doors, hotel security, and mobile access systems. It has a presence in 70 countries across Europe, North and South America, and Asia and Oceania. The company classifies its business operations into three regional divisions – EMEA, the Americas, and APAC, and two global divisions – Global Technologies and Entrance Systems.
dormakaba Holding AG
dormakaba Holding AG is a global security formed through the merger of Kaba Group (Switzerland) and Dorma Group (Germany). The company has a presence in over 50 countries (production sites and distribution and service offices) and has many brands such as Keyscan, Best, Dorma, Dormakaba, and Legic. dormakaba Holding AG has separated the business sectors in which it operates internationally into five categories. Access Solutions (AS) is structured in four segments by region: AS AMER (North and South America), AS APAC (Asia Pacific), AS DACH (Germany, Austria, and Switzerland), and AS EMEA (Europe, Middle East, and Africa). Another global segment is Key & Wall Solutions.
Market Dynamics:
Driver: Increased adoption of IoT-based security systems and cloud computing platforms
Cloud computing technology analyzes and stores data efficiently. This computing technology has servers that are connected to cloud platforms. This enables sharing of resources, which can be accessed at any place and time using the internet. Cloud Computing is an essential part of IoT which analyzes information obtained from the sensors, increases processing power, unites the servers, and provides good storage capacity. Cloud computing is integrated with smart objects which use many sensors and helps IoT for large-scale development. IoT depends on cloud computing and both computing technologies face security threats.
Restraint: Security and privacy concerns related to unauthorized access and data breach in access control environment
An inadequate access control causes intruders to gain unauthorized access to organizational data. Intruder breaching can be attributed directly to a lack of proper access control service. This breaching can be a cause of poor monitoring of the admin privileges within an organization. Also, the third-party applications used inside the organization can introduce vulnerabilities and security breaches. An attacker can easily utilize these loopholes to breach critical organizational data. In most industries, physical and logical security are separate departments as their requirements and approaches are different. An access control service is always prone to threats from anyone with an intention to breach either physical or logical security. Even in the case of integrated IT and security systems, cyberattacks are common.
Opportunity: Adoption of ACaaS as a cost-effective and flexible solution
Access control as a service enhances end-user privacy, eliminates the need for developing complex implementation protocols, and offers data owners flexibility to switch among cloud providers or use multiple cloud providers concurrently. It relieves cloud providers from the burden of implementing complex security solutions and enables enterprises to deploy their specific access control mechanisms. Various organizations have adopted cloud-based ACaaS as there is an increase in businesses, staff, and devices. The shift from full security systems to cloud-based ACaaS has been highly successful for many organizations. According to a recent study published in January 2021 by Cynet, the cloud is the number one preferred security technology deployment strategy.
Challenge: Availability of free Access Control Services
Cloud service providers offer security as a service to organizations for managing their infrastructure and resources, helping them in cutting costs, and delivering services quickly and efficiently. A wide range of cloud services are offered by various vendors at discount prices and sometimes as bundled services for free. Additionally, free access control services are open to risks such as account or service hijacking, data loss or theft, insecure interfaces & APIs, and technology vulnerabilities, especially in shared environments. Owing to this, the availability of free access control services hampers the growth rate in access control as a service market.
