Northbrook, IL 60062 -- (SBWIRE) -- 12/20/2022 -- The global access control as a service market was valued at USD 0.9 billion in 2021 and is projected to reach USD 2.2 billion by 2027, registering a CAGR of 16.4% during the forecast period. Increase in adoption of ACaaS from businesses at multiple locations use ACaaS for centralized operations and growing number of smart infrastructure drives adoption & deployment of Access Control Services
Managed services are expected to witness the highest CAGR in the access control as a service market from 2022 to 2027. Managed access control services connect the owner at any particular site to the remote server via the internet. All information from the controllers is sent via a secure connection to these remote servers and when logged into your account online, or via an app on smartphone the user can see what is happening with your access control system in real time. In managed access control services, the third party is paid by the end user to manage the access control platform. The third party manages the services such as adding and deleting access rights, changing/ assigning schedules, printing badges and credentials, door ajar/ propped monitoring, and many other services. All the above third-party services are managed from servers located at the third-party location.
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The private cloud deployment model is the exact opposite of the public cloud deployment model. It's a one-on-one environment for a single user. There is no need to share the hardware with anyone else. The private cloud infrastructure for ACaaS is completely owned by a single company. It is a single-tenant environment comprising hardware, storage, and network dedicated to a single client or company. The private cloud can be physically located at the organization's on-site datacentre, or it can be hosted by a third-party service provider, and it might be located either on-premises or off-premises. Here, the IT department of the company or third party is in charge for looking after the monitoring and security configurations. This infrastructure has the highest number of security parameters and security is handled by an in-house or a third-party security provider.
Residential vertical segment to witness the highest CAGR in the access control as a service market from 2022 to 2027. An ACaaS controlled access to enter the property and gates will keep unknown parties out and send the alerts to security personnel. ACaaS are installed at entrances, gates, interior doors, and elevators throughout the building. With ACaas, all the entrance are secured and managed centrally, saving the end user the need to monitor everything onsite and invest in related devices and equipment. Owing to these factors, ACaaS is seeing deployment in various sectors, including residential.
Asia Pacific region to witness the highest CAGR in the access control as a service market from 2022 to 2027. Security systems would be adopted at a higher rate in Asia Pacific with a growing number of manufacturing units. There is also a constant risk of terror threats in the region. Asia Pacific has a high potential for the growth of the ACaaS market due to increased security concerns, especially in India and China; the governments in these countries have started investing heavily in security measures. Similarly, other emerging economies are focusing on improving their infrastructure, which is expected to impel the growth of the ACaaS market. The rising adoption of access control systems by small- and medium-sized enterprises, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places is expected to drive the growth of the ACaaS market.