Global Access Control as a Service Market Segments and Key Trends 2020-2023

Market Research Future (MRFR) reports that the global access control as a service (ACaaS) market is expected to surge to USD 1 billion by 2022 from its value of USD 0.50 billion in 2016, registering a phenomenal CAGR of 17%. Access control service is a cloud-based service that provides authenticating and authorizing users to gain access to web applications and services facilitating application development, authorization claims, and lower number of authentication.
Growth Drivers
MRFR’s market study acknowledges that the increasing awareness about sophisticated data security thefts is one of the main growth factors for the access control as a service market. Owing to rapid technological advances, there are rising instances of threats to data security and privacy. These threats result in increased costs for legal suits and cyber insurance claims. However, a number of organizations are ill-equipped with reference to technical and infrastructural expertise to handle the growing complex nature of cyber threats, which fuels the need for cyber risk management capabilities of ACaaS. Hence, the growing demand for superior risk management across several industries will trigger the growth of the ACaaS market.
Market Restraints
On the flip side, the time-consuming process of setting rules & duties for an organization is one of the restraining factors undermining the market growth.
The industry experts ascertain that the market is on its way to expand at a significant rate on account of the benefits offered by ACaaS, for example, enabling the user to eliminate initial investment in access control-related devices and architecture.
Market Segmentation
The global access control as a service market is segmented on the basis of service, deployment, devices, type, application, and verticals.
By service, the market is segmented into managed, hosted and hybrid services. The managed ACaaS solutions service segment accounts for major shares of the global market. In this setup, enterprises actively maintain the server and other infrastructure, with no interference from the buyer.
Deployment-wise, the market is segmented into on-cloud and on-premise. On-cloud solutions save organizations the cost of servers and other equipment.
By device, the market of ACaaS is segmented into biometric, smart card access and identity management solution among others. Primary factors driving the growth of biometric market are the growing number of government initiatives to adopt biometrics and increasing need for surveillance and security due to the threats of terrorist attacks.
The types of applications include network access control and data access control. Network access solutions are adopted to develop safe and secure network infrastructure to ensure business continuity. Thus the segment is witnessing major growth on account of these features.

By type, the market is segmented into discretionary and non-discretionary.
The verticals in the global market are social media, manufacturing, utilities, government bodies, commercial and cooling & lighting among others. There would be a tremendous rise in ACaaS market for manufacturing application over the forecast period owing to the growing demand for access control system for protecting employees and properties across the manufacturing sites. These sites include oil and gas, chemicals, pharmaceuticals, metal and mining, power, automotive, water treatment, cement, and textile industries.
Regional Outlook
The regional analysis of access control as a service (ACaaS) market has been studied for regions namely Asia Pacific (APAC), North America, Europe and rest of the world.
Globally, North America is expected to lead the market due to growing adoption by suppliers, end users, and monitoring organizations in the region. The market growth is also due to unified pricing offered by dealers of ACaaS, which appeals to the consumers.
The market in Europe is projected to grow rapidly in the review period on account of increasing number of companies providing access control solutions to small and medium organizations and also to residential users.
The report also sheds light on the Asia-pacific market, which is expected to be the fastest growing region. This phenomenal growth is due to increasing use of smartphones in small & medium size industries particularly in Japan, Singapore, and India, thereby increasing demand for access control system in the region.
Key Companies
The key companies in the global ACaaS market include Centrify Corporation (U.S.), IBM Corporation (U.S.) and Symantec Corporation (U.S.), Jhonson controls Inc. (U.S.), M3T Corporation (U.S.), Microsoft Corporation (U.S.), Datawatch Systems Inc. (U.S.), AIT Ltd. (U.K.), Cisco Systems Inc. (U.S.), Cloudastructure Inc. (U.S.), and others.
Browse Complete Report "Access Control as a Service (ACaaS) Market Research Report- Global Forecast 2023" @ https://www.marketresearchfuture.com/reports/access-control-as-a-service-market-2011 

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