Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Visitor Management System Market by Offering (Software (Mobile-based & Web-based), Services), Application (Compliance Management & Fraud Detection, Security Management, Historical Visitor Tracking), End User and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Visitor Management System (VMS) market shows a robust trajectory, with the global market value expected to reach USD 3.0 billion by 2028 from its current value of USD 1.6 billion in 2023, flourishing at a CAGR of 13.7% during the forecast period. The market's expansion signifies a critical evolution from conventional security protocols to sophisticated systems that provide stringent safety measures and real-time tracking of visitor movements.
Presenting these findings, the latest industry research report elucidates that key drivers such as an increased focus on security and the demand for efficient visitor experiences are predominantly influencing market growth. Companies are progressively implementing advanced VMS solutions embedding technologies such as facial recognition and real-time background checks for enhanced safety and compliance management.
An in-depth analysis indicates that the software segment holds a predominant share in the visitor management system market. Mobile-based visitor management system software is projected as the leading contributor due to its instant setup process and the increasing reliance on mobile devices in corporate settings.
Compliance Management and Fraud Detection applications of the VMS are poised for the highest growth rate during the forecast period. This surge is attributed to the vital role of VMS systems in maintaining compliance with regulatory standards and in preventing fraudulent activities through rigorous visitor data analysis.
Regionally, the Asia Pacific market is expected to experience the highest CAGR. Factors such as rapid technological advancements, the adoption of AI for visitor-related tasks, and a growing trend towards 5G technology are propelling the VMS market forward in this region.
Key Market Insights
- Advanced Technology Integration: The market is witnessing integration with technologies like facial recognition and biometric verification for superior security management.
- Digital Platform Adoption: The transition from manual sign-in sheets to digital platforms offers better data analytics and real-time notifications for host upon visitor arrival.
- Innovative Software Solutions: Mobile-based software solutions are increasingly preferred due to their ease of setup and user-friendly operation.
- Strategic Market Analysis: The report provides exhaustive market analysis across various segments, enabling stakeholders to harness growth opportunities effectively.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 299 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $3 Billion |
| Compound Annual Growth Rate | 13.7% |
| Regions Covered | Global |
Companies Mentioned
- Alertenterprise
- Building Intelligence
- Carson Living
- Digicred Technologies Private Limited
- Eptura
- Envoy
- Eden Software Solutions
- Genetec
- Honeywell
- Hid Global
- Ilobby
- Jolly Technologies
- Mri Software
- Officespace Software
- Pitney Bowes
- Qminder
- Raptor Technologies
- Smartspace Software plc
- Sign in Solutions
- Splan
- Swiftlane
- Transmission
- Tactic
- Vams Global
- Verkada
- Versionx
- Vizmo
- Visitly
- Vizitor
- Visitorz.Io
For more information about this report visit https://www.researchandmarkets.com/r/bms9ws
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