FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Pool: 33512
Companies: 98 – Players covered include Brivo Inc.; Centrify Corporation; Cloudastructure Inc.; Datawatch Systems Inc.; Digital Hands; dormakaba Holding AG; Feenics Inc.; Fleming Companies, Inc.; Forcefield Systems Inc.; Honeywell International Inc.; IBM Corporation; Johnson Controls International plc; Kastle Systems; Kisi Inc.; M3T Corporation; Microsoft Corporation; Oracle Corporation; Spica International d.o.o.; Vanderbilt Industries GmbH and Others.
Coverage: All major geographies and key segments
Segments: Service Type (Managed, Hosted), Application (Commercial, Manufacturing & Industrial, Residential, Government, Transportation, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Access Control as a Service (ACaaS) Market to Reach $2.9 Billion by 2026
Access control technologies are virtually indispensable in modern life and the urgent need to create safe environments at home and at commercial, business and public spaces cannot be undermined. This is especially so against the backdrop of rising crime rates all over the world. Crime has and will continue to be an integral part of human societies and communities with the causes for the same being as diverse as poor parenting and instillation of moral values; unwillingness of immigrants to conform to local societal norms; rising incidence of psychological diseases that lead to anti-social behavior; haphazard urbanization, growing wealth gap, increase in poverty and structural flaws in the economy and society that create fractures in ideologies and psychology.
Amid the COVID-19 crisis, the global market for Access Control as a Service (ACaaS) estimated at US$789.6 Million in the year 2020, is projected to reach a revised size of US$2.9 Billion by 2026, growing at a CAGR of 24.2% over the analysis period. Managed, one of the segments analyzed in the report, is projected to grow at a 20.7% CAGR to reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hosted segment is readjusted to a revised 27.5% CAGR for the next 7-year period. This segment currently accounts for a 46.9% share of the global Access Control as a Service (ACaaS) market.
The U.S. Market is Estimated at $465.9 Million in 2021, While China is Forecast to Reach $334.1 Million by 2026
The Access Control as a Service (ACaaS) market in the U.S. is estimated at US$465.9 Million in the year 2021. The country currently accounts for a 49.26% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$334.1 Million in the year 2026 trailing a CAGR of 32.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 24.1% and 21.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.1% CAGR while Rest of European market (as defined in the study) will reach US$429 Million by the close of the analysis period.
The traditional model of on-premise card-reader-panel-server is still predominant, but other architectures are finding more appeal. The use of mobile access or mobile apps is expected to emerge as the top trend in the access control industry in the near future. The adoption of mobile solutions continues to rise with several organizations in the process of partially or fully deploying a mobile solution. The technology promises speed, convenience; advanced security features such as built-in biometric screening on the device itself; and flexibility. Activating and deactivating a credential can happen in real-time, over the air. In addition to mobile credentials, cloud/managed or hosted systems and wireless locks are the other trends expected to shape physical access control solutions. Aging access control systems present opportunities for upgrades that allow organizations to embrace new technology. More
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SOURCE Global Industry Analysts, Inc.
This is not a CAPTIS article. Originally, it was published here.