According to Market Research Future (MRFR), The global access control as a service market had a valuation of USD 764.8 million in 2017 and is expected to reach USD 1,953.1 million with a staggering CAGR of 17.18% from 2017 to 2023 (forecast period). The report provides a complete and accurate review of the effects of the Covid-19 pandemic on the global access control as a service market.
Access control systems are used to control and administer all operations (including identification, authentication, and authorization of users) at the premises of any facility. These systems are effective in vertical industries such as BFSI, government, education, healthcare, retail, energy & utilities, and transport, among others.
However, this process of monitoring and overseeing all operations around the premises results in increased costs being incurred by companies. This encouraged service providers to develop cloud-based access control solutions for both commercial and industrial purposes.
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With the advent of bring your own device (BYOD) in IT companies, security issues have been linked to the growth of access control as a service market. In addition, the growing usage of cloud computing platforms, along with the adoption of IoT, is accelerating market growth.
On the other hand, the lack of knowledge among system integrators hinders the growth of the market. Furthermore, the implementation of access control as a service from third-party providers can result in vulnerabilities and data breaches.
Top Key Players
Key players
The prominent players operating in the access control as a service market are — Brivo Inc. (US), Assa Abloy AB (Sweden), Cloudastructure Inc. (US), Tyco International PLC (Ireland), Honeywell International (US), Microsoft Corporation (US), Symantec Corporation (US), Datawatch Systems Inc. (US), Cisco Systems Inc. (US), and Centrify Corporation (US). These players concentrate on expanding their current product portfolio by investing heavily in research and development, thereby allowing them to remain competitive in access control as a service market.
Other players operating in the ACaaS Market include AIT Ltd. (UK), Gemalto NV (The Netherlands), ADS Security (US), Vanderbilt Industries (Germany), M3T Corporation (US), KISI Inc. (US), Feenics (Canada), Protection1 Security Solutions (US), Ping Identity Corporation (US), dormakaba Holding AG (Switzerland), and Stanley Access Technologies (US). These players mainly focus on extending their market presence in emerging geographies by partnering with locally-operated companies in the region.
