Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The "Access Control as a Service (ACaaS) Market by Hosted, Managed, Hybrid, Card-based, Biometric Reader, Electronic Lock, Mobile Access, Public & Private Cloud, Single-factor, Two-factor, Multi-factor Authentication, Passwordless - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Access Control as a Service (ACaaS) market is projected to grow from USD 1.34 billion in 2024 and is projected to reach USD 3.06 billion by 2029; it is expected to grow at a CAGR of 17.9% from 2024 to 2029 by Adoption of ACaaS for centralized operations by businesses that operate at multiple locations.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall access control as a service market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
While the implementation of ACaaS remains limited in other regions, North America is at the forefront of adoption. It was by far the most forward region in implementing ACaaS in improving safety measures and security. Various concerns that are rising from data security are driving the demand for ACaaS in this region. Inherent cyber-risk management capabilities propel organizations to use ACaaS.
This helps the organizations pay more attention to their core business objectives while reducing unnecessary expenses in managing the risks associated, while ACaaS solutions manage all risk management responsibilities. Countries such as the US, Canada, and Mexico are developing their capability in AcaaaS to drive technology innovations. This will help them have a better competitive edge to increase their market share in the Agas market in the region. With ACaaS, growth in the region is due to increasing construction and demand for security products across the region.
Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Thales (France), ASSA ABLOY Group (Sweden), dormakaba Group (Switzerland), Identiv, Inc. (US), HID Global Corporation, part of ASSA ABLOY (US), Kastle Systems (US), AMAG (US), Brivo Systems, LLC. (US), Cloudastructure Inc. (US) are some of the key players in the Access Control as a Service Market.
Growing need to boost security for high-value assets to fuel market growth of managed segment
The managed segment market was valued at USD 0.5 billion in 2023 and is estimated to reach USD 1.3 billion by 2029, registering a CAGR of 19.9% during the forecast period. Managed access control services give users the ability to monitor and control their access systems at any given time and any place by allowing them access to a remote server connected via the internet. Information sent from access controllers about who has accessed a system is received on these servers.
Users can log in through a web platform or an app on their smartphone to manage their system. The third party providers take care of adding or removing access rights, scheduling adjustments, credential printing, and monitoring doors with managed access control. The business operations are made convenient and efficient as its remote management is handled by security professionals. These solutions, for instance, are offered by the main players in the ecosystem, such as Johnson Controls, Honeywell Security, Thales, and Kastle Systems, and are mainly implemented to manage multiple sites, align access with staff schedules, improve integration, address vulnerabilities, and protect high-value assets.
Market for public cloud segment is projected to hold for largest share during the forecast timeline.
The public cloud deployment model is based on shared infrastructures, thus allowing hosting an access control service that could be operated by third-party providers, enabling businesses to scale it up with ease, reduce costs, and even offer easy accessibility. The public cloud segment holds the majority market share mainly because it is very affordable, flexible, and can be scaled up or down depending on the business requirements, which makes it highly attractive to companies of all sizes. Indeed, businesses love reducing capital expenditures while getting fast deployment and seamless integration into other systems. Its ability to host increased demands for data and allowing operations to be remotely conducted makes it lead the dominance in the ACaaS market.
Market for Commercial vertical holds for largest market share during the forecast period.
The commercial vertical holds the largest market share in the Access Control as a Service (ACaaS) market due to the growing demand for advanced security solutions in office buildings, retail spaces, and corporate facilities. Businesses in the commercial sector prioritize protecting assets, employees, and sensitive data, driving the adoption of ACaaS for centralized security management, real-time monitoring, and remote access. Additionally, the rise of multi-site operations and smart infrastructure boosts ACaaS demand in this segment.
Key benefits of buying the report:
- Analysis of key drivers (Increased adoption of lot-based security systems and cloud computing platforms; Rising number of smart infrastructure and smart city projects; Adoption of ACaaS for centralized operations by businesses that operate at multiple locations; Shift towards subscription-based business models), restraints (Security and privacy concerns related to unauthorized access and data breach in access control environment; Concerns about long-term cost-effectiveness for large enterprises), opportunities (Rapid urbanization in emerging countries; Adoption of ACaaS as cost-effective and flexible solution; Integration with employee management and HR systems) and challenges (Availability of free access control services; Adapting to varying international data protection regulations) influencing the growth of the access control as a service market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Access Control as a Service (ACaaS) market.
- Market Development: Comprehensive information about lucrative markets - the report analysis the Access Control as a Service (ACaaS) market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Access Control as a Service (ACaaS) market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Thales (France), ASSA ABLOY Group (Sweden), and dormakaba Group (Switzerland), among others in the Access Control as a Service (ACaaS) market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 227 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.34 Billion |
| Forecasted Market Value (USD) by 2029 | $3.06 Billion |
| Compound Annual Growth Rate | 17.9% |
| Regions Covered | Global |
Companies Featured
- Johnson Controls Inc.
- Honeywell International Inc.
- Thales
- Assa Abloy
- Dormaka Group
- Identiv, Inc.
- Hid Global Corporation, Part of Assa Abloy
- Kastle Systems
- Amag
- Brivo Systems, LLC.
- Couldastructure Inc.
- Securitas Technology
- Datawatch Systems
- Telcred
- Forcefield Systems
- Vanderbilt Industries
- Kisi Inc.
- Acre Security
- Servsys
- Spectra Technovision (India) Pvt. Ltd.
- M3T Corporation
- Vector Security Networks
- Delinea
- Gallagher Group Limited
- Dsx Access Systems Inc.
- Zkteco Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/g7te1k
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