by Brianna Crandall — January 23, 2017 — For facilities managers and owners interested in learning about access control as a service (ACaaS) and its recommended uses, MarketsandMarkets recently published a market research report covering ACaaS service types, deployment and applications. According to the report, the market is expected to reach USD 1,678.3 million by 2022, at a compound annual growth rate (CAGR) of 26.82% during the forecast period.
The increased demand for access control as a service from businesses with multiple locations to centralize their operations, security risks raised in the information technology (IT) industry by “bring your own device” policies, the large-scale adoption of the Internet of Things (IoT), and the increased usage of advanced virtualization and cloud computing platforms are some of the major drivers for the ACaaS market.
According to the report, the hosted services segment held a major share of the ACaaS market in 2015. As the hosted service is Web-based, clients do not need to look after the maintenance of the server. This has been the key driving factor for the hosted service market. However, the managed services market is expected to grow at the highest rate during the forecast period.
A significant rise in the access control as a service market for the manufacturing and industrial application is expected between 2016 and 2022. The growth is attributed to the growing demand for access control systems for protecting employees and properties across manufacturing and industrial sites such as the oil and gas, chemicals, pharmaceuticals, metal and mining, power, automotive, water treatment, cement, and textile industries.
The ACaaS market in the North American region is expected to hold the largest market share between 2016 and 2022. The stabilized constructions in North America and the convergence of mechanical and electronic security products for the same has been the key driving factor for the North American market. The European market is expected to capture the second-largest share during the forecast period. The commercial, government bodies, and manufacturing and industrial applications are expected to be the leading segments in the European ACaaS market.
Currently, the ACaaS market is dominated by such players as Brivo Inc. (USA), Cloudastructure Inc. (USA), Tyco Security Products (Ireland), Assa Abloy AB (Sweden), and Dorma + Kaba Holding AG (Switzerland), among many others.
The 146-page Access Control as a Service Market by Service (Hosted, Managed), Deployment (Public Cloud, Private Cloud), End-Use Application (Commercial, Manufacturing & Industrial, Government Bodies, Utilities), Region – Global Forecast to 2022 report is available for purchase from the MarketsandMarkets Web site. Early buyers will receive 10% customization on reports, says the company.