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The global access control as a service market is subject to witness a substantial growth due to the growing need centralize organizational-level operations, security risks associated with latest industry trend such as Bringing Your Own Device (BYOD) policy, and increasing adoption of Internet of Things (IoT) technology.
In addition, implementation of advance virtualization and cloud computing platforms are expected to amplify the growth of access control as a service (ACaaS) market over the forecast period. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the access control as a service market.
Growing demand for access control as a service (ACaaS) for large-scale as well as SMEs (small & medium-sized enterprises) that are operating from multiple locations are expected to foster the growth of access control as a service (ACaaS) market over the upcoming years. Access control as a service (ACaaS) helps organization to centralize their operations and constraints security risks that are raised due to Bring Your Own Device (BYOD) policy. Access control as a service (ACaaS) also offers detailed information in regards to the restraints, opportunities, and challenges in the ACaaS market. These factors are expected to fuel market demand for access control as a service (ACaaS) solution, in the recent years.
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The access control as a service (ACaaS) is directly related to Software as a Service (SaaS) technology, therefore also identified as cloud-based service. Most of the available access control hardware is located within the organizational premises while software and servers are relocated and stored at powerful data-centers. This brings about necessary flexibility and cost-effectiveness for organizational-level security. These factors are expected to favor industry expansion in the upcoming years.
The market is broadly categorized into five major segments based on the application type such as industrial sector, government sector, education sector, public transportation sector, and military & defense. The industrial sector is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies IT sector, increase in the number of research & development activities in the region and existence of well-established IT infrastructure.
Asia-Pacific region is predicted to hold major market share in the access control as a service market with massive growth in forecast period. Countries such as Japan, China and Singapore are leading the Asia-Pacific market with strong economic growth in the region, growing demand form commercial, government bodies, and manufacturing & industrial sector, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the access control as a service market are Brivo, Inc., Cloudastructure Inc., Tyco Security Products Ltd., Assa Abloy AB, and Dorma + Kaba Holding AG.
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