ID: MRFR/SEM/1479-HCR | 100 Pages | Author: Shubham Munde | June 2023
Access Control as a Service Market size is projected to reach over USD 22.3 Billion by 2030 with 15.30% CAGR as per the review period between 2022–2030
The access control as a service market is projected to register a CAGR of 15.30% from 2022 to 2030. Organizations utilize security as a service extensively because it offers several advantages over traditional approaches, including speedier operations, ongoing virus updates, cost-effective solutions, and faster operations. The use of cloud technology has grown dramatically over time, necessitating the development of more secure and cost-effective security solutions. demand for security solutions is also growing due to rising digitization and the use of cloud-based services across various industries. The access control as a service market size is anticipated to reach approximately USD 22.03 billion by 2030. Many companies have adopted business apps, bring your device (BYOD) guidelines, choose your device (CYOD) trends, and other technology in recent years. The adoption of these policies offers flexible work arrangements and higher employee output. Concern over the integrity and confidentiality of organizational data has grown due to these. Demand for security as a service has significantly increased to ensure the safety of corporate data.
According to access control as a service market research, COVID-19 had a favorable effect on the security service market. The COVID-19 epidemic has consequences for security service providers in the immediate and long term. Due to the enforcement of lockdown due to the pandemic, numerous enterprises, manufacturing facilities, and retail businesses suffered. The pandemic, however, has caused a shift toward remote working environments. Adopting a work-from-home policy has raised awareness among enterprises about data security and cyber-attacks and increased demand for cloud-based security solutions. Additionally, many major and small businesses have raised their spending on cybersecurity-related products. Thus, it is determined that the COVID-19 pandemic has changed how a company's management approaches cybersecurity and has favorably affected the market for security as a service.
Compared to the preceding decade, the security and controls market has changed due to the quick development of cloud computing and access control. Web- and cloud-based solutions for cost-effectiveness, real-time analytics, simple data access, integration with other systems and software, sharing of data both internally and externally, scalability, and flexibility are provided by emerging cloud-based technologies.
SMEs are constantly working to simplify their business models to increase business efficiency. SMEs in all industries lack rigorous security controls to protect their data, networks, endpoints, and applications. Widespread cyberattackers target them. These businesses still need cutting-edge cybersecurity tools to handle the changing threat environment. Complex cyberattacks easily get through conventional security measures. To secure their web and mobile applications and network infrastructure, SMEs must switch from traditional cybersecurity solutions to cloud-based cybersecurity solutions throughout the development, production, and implementation phases. Thus, the increase in SMEs' use of cloud-based services is projected to fuel access control as a service market growth.
Some clinical studies suggested that lens wearers might experience side effects based on the utilization pattern. These side effects can vary from vision disability, resulting in permanent visual damage or loss of eyesight. Side effects include corneal edema, infection, red eye, superficial keratitis, excess mucus production, infiltrates, giant papillary conjunctivitis (GPC), epithelial microcysts, and corneal vascularization, which are related to lens utilization. These side effects are mainly responsible for limiting the adoption of such lenses. According to the data released by Harvard Health Publishing in 2021, keratitis that can lead to blindness impacts up to 20 per 10,000 access control as service users.
Enhancing end-user privacy, doing away with the need to create intricate implementation protocols, and giving data owners the freedom to choose between cloud providers or utilize several cloud providers at once are all benefits of access control as a service. It allows businesses to deploy their unique access control mechanisms while relieving cloud providers of the effort of deploying sophisticated security systems. The adoption of cloud-based ACaaS by several firms results from the growth of businesses, employees, and gadgets. Transitioning from comprehensive security solutions to cloud-based ACaaS has been very successful for many enterprises. A recent study by Cynet released in January 2021 indicates that the cloud is the most popular method for deploying security solutions.
Access control as a service market segmentation, based on services, is managed, hosted, and hybrid. The market growth was prominently high under the hybrid category in 2021. The Hosted, Access control system connects numerous employees, points of entry, and locations to a centralized hosting and monitoring center as a managed and hosted service. Software upgrades and IT maintenance are eliminated by hosted access control, which uses secure Internet or two-way radio transmission to interact between each site and the host server.
The access control as a service market segmentation, based on deployment, is public, private, and hybrid cloud. In 2021, hybrid cloud accounted for the largest market share of the market due to the growing popularity of hybrid cloud platforms, which give enterprises security assurance in addition to flexibility, scalability, and multi-cloud space. However, the public cloud category is estimated to register the highest growth rate during the forecast period. The most prevalent form of cloud computing deployment is public clouds.
Based on end user, the market is divided into BFSI, government, education, healthcare, retail, energy & utilities, and transportation. The retail category dominated the market for access control as a service in 2021. Protecting workplace safety, preventing business interruption, and reducing financial loss in the retail sector is essential. There has been a significant increase in malls and retail establishments in urban regions. Access control as a service offers several long-term advantages, including decreased retail losses, increased shop earnings, and, most crucially, reduced threats.
By region, the access control as a service market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.
North America Analysis
North America dominated the market share in 2021. Because big economies like the US and Canada are nearby. The target market in this region is growing due to end users adopting more electronic security goods and the availability of sophisticated technological security solutions.
Asia-Pacific accounted for the second-largest market share in 2021 due to the economy's enormous growth. Government initiatives to promote foreign direct investment (FDI) in the pharmaceutical sector in China and India are among the other external factors that are advantageous for the business and have played a vital role in boosting the personal care sector in the Asia-Pacific region.
The market includes tier-1, tier-2, and local players. Players in this industry use various main strategies, including technology launches, acquisitions, partnerships, and R&D initiatives. For instance, in August 2022, Alcea, a supplier of security monitoring software and related access control hardware that offers comprehensive access management solutions in partnership with system partners, was bought by ASSA ABLOY. The alliance aims to improve its vital infrastructure services while presenting complementary development opportunities.
Prominent players in the market include ASSA ABLOY AB (Sweden), dorma+kaba Holding AG (Switzerland), Honeywell Security Group (US), Bosch Security Systems Inc. (Germany), Johnson Controls International PLC (Ireland), Allegion plc (Ireland), NEC Corporation (Japan), Identiv Inc. (US) Company among others.
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the access control as a service market report segmented by service, deployment, and end users by value (in US dollars). Also, to understand the consumption/ demand created by consumers in access control as a service market forecast between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges in the access control as a service market growth
To find out the factors which are affecting the access control as a service market size among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 22.3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Services, Deployment, and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||ASSA ABLOY AB (Sweden), dorma+kaba Holding AG (Switzerland), Honeywell Security Group (US), Bosch Security Systems Inc. (Germany), Johnson Controls International PLC (Ireland), Allegion plc (Ireland), NEC Corporation (Japan), Identiv Inc. (US)|
|Key Market Opportunities||Adoption of ACaaS as a flexible, affordable solution|
|Key Market Drivers||An increase in SMEs' use of cloud-based services|
The access control as a service market forecast period is 2022 - 2030
The market is expected to register a CAGR of ~15.30% over the next 10 years, according to access control as a service market research.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
The market size is expected to be USD 22.03 billion by 2030.
ASSA ABLOY AB (Sweden), dorma+kaba Holding AG (Switzerland), Honeywell Security Group (US), and Bosch and Security Systems Inc. (Germany) are the major companies operating in the market.
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