Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Global Visitor Management System Market Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global visitor management system market size to grow from USD 1.1 billion in 2021 to USD 2.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.7%
Various factors such as increased awareness regarding the growing security threats, the need for a paperless administration, increasing need to store the gathered visitor data as per regulatory compliances are driving the growth of visitor management system market.
There has been a significant impact of the COVID-19 outbreak on countries, organizations, and the medical community. Companies have been adopting collaborative applications to grow at a rapid pace after the outbreak of COVID-19. 2020 has been a year of significant change for the security and technology world due to the COVID-19 pandemic.
Most organizations have gone remote. Throughout 2020, effectively managing and monitoring third-party guests became a priority for businesses worldwide. The COVID-19 pandemic meant that all organizations now need to rethink the secure processes they had previously put in place for all personnel entering and exiting each facility, not just their visitors.
2021 has brought new and exciting opportunities for the security and digital visitor management industry with further enhanced features and solutions, particularly with the strengthened protection of digital workplace solutions. Digital visitor management solutions have become a necessity for global organizations. It has now become the line of defense for all organizations. Investing in digital security systems will now become a priority for businesses to protect their daily operations and ensure employee safety.
Hence, a visitor management system allows organizations to quickly adapt to undesirable situations such as a disease outbreak. It helps empower the security managers to control the people entering the premises and minimize the COVID-19 spread.
The cloud segment to have the largest market size during the forecast period
By deployment mode, the visitor management system market has been segmented into on-premises and cloud. The market size of the cloud deployment mode is estimated to be the largest and projected to have the highest CAGR during the forecast period. The cloud-based segment is expected to grow during the forecast period because of increased digital transition among sectors and the high penetration of smart and hand-held devices.
The SMEs segment to hold higher CAGR during the forecast period
The visitor management system market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period. The need to detect the intruders in facilities and screen and monitor the visitors is expected to drive the adoption of visitor management systems by SMEs.
Among regions, APAC to hold higher CAGR during the forecast period
APAC has witnessed advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. The commercialization of AI and IoT technologies and the need for further advancements to leverage these technologies are expected to drive the adoption of visitor management software and services in the region.
Some major players in the visitor management market include Honeywell (US), SmartSpace Software (UK), Envoy (US), Proxyclick (Belgium), MRI Software (US), iLobby (Canada), Envoy (US), Veristream (US), Proxyclick (Belgium), AlertEnterprise (US), Qminder (UK), Honeywell (US), HID Global (US), Genetec (Canada), Jolly Technologies (US), MRI Software (US), and SmartSpace Software (UK).
Premium Insights
- The Increasing Demand for Software-Based Security Systems to Reduce Paper-Based Administrative Work Would Drive the Growth of the Market
- BFSI Segment to Hold the Largest Market Share During the Forecast Period
- North America to Hold the Largest Market Share in 2021
- Security Management and Banking, Financial Services, and Insurance Industry to Account for the Largest Shares in the Visitor Management System Market in 2021
Market Dynamics
Drivers
- Growing Adoption of Software-Based Security Solutions
- The Growing Need to Ensure Regulatory Compliance
- Increasing Adoption of Paper-Less Administrative Activities
- Rising Need for an Enhanced Visitor Experience
Restraints
- Deploying a Single Solution for Multiple Locations and Database Management
- Challenges in Solution Deployment and Visitor Policies
Opportunities
- Advent of Advanced Technologies Such as Iot, Ai, and Big Data
- COVID-19 Paved the Way for an Automated, Digital, and No-Touch Workplace
Challenges
- Data Safety and Security Issues
Case Study Analysis
- Manage People On-Site at Oceania Dairy
- Enhance Visitor and Customer Experience
- Reduce Administrative Complications Across Visitor Data
- Improve the Security and Efficiency of Technicolor
- Detect the Entry of Intruders
Patent Analysis
- Methodology
- Document Type
- Innovation and Patent Applications
- Top Applicants
Pricing Model Analysis
Technology Analysis
- Visitor Management System and Artificial Intelligence
- Visitor Management System and Blockchain
- Visitor Management System and Internet of Things
- Visitor Management System and Big Data and Analytics
Regulatory Implications
- General Data Protection Regulation
- The International Organization for Standardization 27001
- California Consumer Privacy Act
- Health Insurance Portability and Accountability Act of 1996
- Health Information Technology for Economic and Clinical Health Act
- Sarbanes-Oxley Act of 2002
- Personal Data Protection Act
Companies Mentioned
- Alertenterprise
- Asiatact
- Carson Living
- Envoy
- Genetec
- Greetly
- Heptagon Technologies
- Hid Global
- Honeywell
- Ilobby
- Inventry
- Jolly Technologies
- Mri Software
- Parabit Systems
- Pilobi
- Pitney Bowes
- Proxyclick
- Qminder
- Smartspace Software
- Splan
- Traction Guest
- Veris
- Veristream
- Versionx
- Visitly
- Visitorz.Io
- Vizmo
- Vuetura
- Wellcome.Me
For more information about this report visit https://www.researchandmarkets.com/r/14ujcb
