LONDON, May 22, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the access control as a service global market forecasts the market to grow at a compound annual growth rate (CAGR) of more than 15%, increasing from $1 billion in 2022 to $ 1.2 billion in 2023. Further, the access control as a service market share is expected to reach $2.1 billion in 2027 at a CAGR of more than 15%. North America was the largest region in the market in 2022.
The rise in security concerns is one of the key factors driving market growth. Data breaches and cyberattacks have become increasingly common, with the USA being the target of 46% of cyberattacks in 2020. As a result, access control rules that determine who can access and utilize corporate resources and information have become more important than ever.
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Major access control as a service company includes Digital Hands, Microsoft Corporation, Brivo Inc., Centrify Corporation, Oracle Corporation, Spica International d.o.o., Vanderbilt Industries GmbH, dormakaba Holding AG, Feenics Inc., Fleming Companies Inc.
Major companies, such as PlainID and Johnson Controls, are developing innovative technologies to improve their position in the market. For instance, in December 2022, PlainID, a US-based provider of authorization and policy-based access control, launched its PlainID Technology Network. Developed with PlainID partners, the Network delivers PlainID's cutting-edge technology worldwide to help organizations securely transform authorization and access control.
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The global access control as a service market is segmented as -
1) By Services: Managed Services, Hosted Service, Hybrid Service, Other Services
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By End-Users: Pharmaceuticals And Healthcare, Government, Education, Health Care, Retail, Transportation, Other End-Users.
The access control as a service report analyses the market's growth potential, emerging trends, and growth drivers. The report offers insights on major players and their market shares and help players spot investment opportunities. This report is a pivotal resource to understand the access control as a service industry helping players make well informed decisions.
Access Control As A Service Global Market Report 2023 by The Business Research Company provides insights on the access control as a service global market size, access control as a service global market segments, access control as a service global market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 4,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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