MONTRÉAL, Nov. 19, 2024 (GLOBE NEWSWIRE) -- According to the 2024 Access Control report by Omdia, Genetec Inc. (“Genetec”), the global leader in enterprise physical security software, has consistently gained market share over the last six years, solidifying its position as a worldwide market leader and building upon its #2 global position for access control software.
In the Americas market, access control software has evolved beyond the physical security department to become an essential component of business operations. According to the Omdia report, this broader adoption has increased demand for unified security platforms that allow organizations to manage systems - such as access control, video surveillance, and intrusion detection - through a single interface. By anticipating market needs for access control innovation, Genetec continues to expand its market share, growing at a 28% CAGR over the past six years.
“While many legacy access control vendors rely on acquisitions to expand their market share, Genetec has achieved rapid organic growth through innovation and investment in new technologies,” said Christian Morin, Vice President of Product Engineering, Genetec Inc. “Over the last year, we introduced Security Center SaaS, HID Mercury Security MP controllers, Axis Powered by Genetec, and an I/O module in partnership with STid as part of our European high assurance access control system offering. This demonstrates our commitment to expanding our access control portfolio through innovation and partnerships, paving the way for future growth.”
In a highly fragmented EMEA market, Genetec remains among the top 10 access control software providers by focusing on open architecture systems that allow users to integrate components from different vendors. Omdia also reports that end users in the region prefer open systems that offer flexibility and customization. This further supports the company’s strategy to provide adaptable solutions tailored to the region, as evidenced by its partnership with STid.
In the Asia-Pacific region (excluding China), Genetec continues to rapidly expand its market share, reaching #6 position (up from #10 in 2021). As enterprise users and multinational corporations modernize their access control infrastructure, they seek feature-rich, cyber-secure systems with strong integration capabilities. An open-architecture solution, such as the Genetec access control solution, allows organizations to secure assets and people, enhance business operations, and easily upgrade technology at their own pace.
The Omdia report also indicates that the access control market is increasingly adopting hybrid cloud deployments. Genetec is at the forefront of this change. Security Center SaaS is a physical security solution that brings the power of Genetec access control and video management to the cloud. Security Center SaaS supports hybrid or full cloud deployments, allowing organizations to move components and sites to the cloud based on their needs and requirements at their own pace. Because Genetec solutions are based on an open platform architecture, users choose the access control devices that best suit their needs while also preserving their existing investments.
In addition to its success in access control, Genetec has retained its #1 global position in the VMS market while also ranking #1 in the combined Video Management Software (VMS) and Video Surveillance as a Service (VSaaS) market, according to Omdia’s recently released 2024 Video Surveillance & Analytics Database Report.
For more information about Genetec, visit www.genetec.com.
About Genetec
Genetec Inc. is a global technology company that has been transforming the physical security industry for over 25 years. The company’s portfolio of solutions enables enterprises, governments, and communities around the world to secure people and assets while improving operational efficiency and respecting individual privacy.
Genetec delivers the world's leading products for video management, access control, and ALPR, all built on an open architecture and designed with cybersecurity at their core. The company’s portfolio also includes intrusion detection, intercom, and digital evidence management solutions.
Headquartered in Montreal, Canada, Genetec serves its 42,500+ customers via an extensive network of accredited channel partners and consultants in over 159 countries.
For more information about Genetec, visit: https://www.genetec.com
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