The global access control as a service (ACaaS) market is expected to be growing at a compound annual growth rate of approximately 26.8% during the forecast period to cross USD 1.7 billion by 2022. Access control systems help in restricting the unauthorized access of individuals in a company and provide admission based on their position. These access controls are implemented in warehouse complexes, parking lots, garages, hotels, educational institutions or business centres, and other areas, which includes turnstiles, alarms, video intercoms, and swipe cards.
The increasing digitalization has led to the introduction of Access Control as a Service (ACaaS), which is entirely based on the cloud and uses the technology of Software as a Service (SaaS). Moving all the software and servers to data centres, the access control hardware will remain on-premise. The cloud transition increases the efficiency by providing remote access at affordable costs compared to the legacy systems. The collection of information from different sources and storing them on a single page improves the secured access and support.
Several factors are supplementing the growth of the access control as a service market such as increasing concerns of data loss and security breaches, advancements in the technology, threats related to data confidentiality, growing cyber-attacks, reduction in the infrastructural costs, reliability and scalability of the cloud services, and increasing adoption of the Internet of Things (IoT), virtualization and cloud computing in optimizing the business performance. However, the expenses involved in the setup and maintenance are restricting the market expansion.
Geographically, North America holds the largest portion of the global access control as a service market and will continue its domination in the forecast period owing to the increasing constructions and demand for security products across the region. At the same time, the applications of ACaaS in the commercial, industrial, government and manufacturing areas will favour the market growth in the European region.
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Some of the key players in the market are Brivo Inc. (U.S.), Cloudastructure Inc. (U.S.), Tyco Security Products (Ireland), Assa Abloy AB (Sweden), Dorma + Kaba Holding AG (Switzerland), Honeywell Security (U.S.), Microsoft Corporation (U.S.), Cisco Systems Inc. (U.S.), Datawatch Systems Inc. (U.S.), Centrify Corporation (U.S.), AIT Ltd. (U.K.), Gemalto N.V. (Netherlands), Vanderbilt Industries (U.S.), M3T Corporation (U.S.), ADS Security (U.S.), KISI Inc. (U.S.), and Feenics (Canada).
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