Lucintel Forecasts Access Control as a Service Market to Reach $1.1 Billion by 2025

According to the recent study the access control as a service market is projected to reach an estimated $1.1 billion by 2025 from $0.6 billion in 2019, at a CAGR of 11% from 2020 to 2025. Growth in this market is primarily driven by increasing uses of cloud computing platforms and IoT technology, growing demand for cloud based hosted and managed services, and rising adoption of electronic security products in access control as a services market.

Browse 80 figures / charts and 74 tables in this 150-page report to understand trends, opportunities and forecast in access control as a service market end use industry (commercial, manufacturing and industrial, government bodies, residential, transportation, healthcare, education, and utilities), service (hosted, managed, and hybrid), deployment (public cloud, private cloud, and hybrid cloud), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Commercial market is expected to remain the largest segment during the forecast period.”

Based on end use industry, the access control as a service market is segmented into commercial, manufacturing and industrial, government bodies, residential, transportation, healthcare, education, and utilities. Lucintel forecasts that the commercial market is expected to remain the largest segment due to increasing adoption of AcaaS particularly in small- to medium-sized businesses (SMBs) as it provide cost savings and continued support and scalability benefits.

“Within the access control as a service market, the managed service is expected to remain the largest service type”

Based on service type the managed service is expected to witness the highest growth over the forecast period as it is managed by third party service providers, which helps organizations to manage the access rights.

“North America will dominate the access control as a service market in near future”

North America is expected to be the largest region over the forecast period due to growing demand for security solutions and advancement in cloud-based technologies. APAC is expected to witness the highest growth over the forecast period supported by increasing adoption of ACaaS system in commercial, government bodies, and manufacturing and industrial applications.

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Major players of access control as a service market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Dormakaba, Assa Aboly AB, Honeywell Security, Microsoft Corporation, Brivo Inc, Cisco Systems, Inc., and Digital Hands are among the major access control as a service providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/access-control-as-a-service-market.aspx or helpdesk@lucintel.com