From GlobeNewswire: 2024-03-29 08:00:00

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, with a CAGR of 16.4%. Johnson Controls, Honeywell, Thales, and ASSA Abloy are key players in the market. Increased demand is driven by businesses seeking centralized operations.

Johnson Controls is a global leader in building products and services, offering technical services and smart building solutions powered by its OpenBlue software platform. The company caters to residential and commercial HVAC, industrial refrigeration, security, and fire protection needs under various brands.

Honeywell International focuses on technology solutions to enhance efficiency, safety, and productivity in various industries. Their products blend physical items with software to serve aerospace, energy, and safety needs globally. They address critical challenges in energy, security, air travel, and urbanization.

Thales is known for advanced digital technologies in aerospace, defense, transportation, and security markets, with a global presence. Their access control services under the Digital Identity & Security segment offer solutions for identity verification, access authorization, data analysis, and encryption.

ASSA Abloy AB specializes in door-opening solutions, access control, locking systems, and security technology, with operations in 70 countries. The company organizes its business into regional and global divisions to cater to a wide range of markets and customers.

dormakaba Holding AG is a global security company formed by merging Kaba Group and Dorma Group. They offer access solutions, security systems, and services under different segments based on regions. The company operates in over 50 countries with multiple brands under its umbrella.

Cloud computing and IoT are driving factors in the market, enhancing data analysis, storage, and accessibility. However, security and privacy concerns related to unauthorized access and data breaches remain a significant restraint in access control environments.

The adoption of Access Control as a Service (ACaaS) offers a cost-effective solution for end-user privacy and flexibility in cloud services. Organizations can utilize cloud-based ACaaS to enhance security mechanisms and adapt to dynamic business needs with ease.

The availability of free access control services poses a challenge in the market, as they may open up organizations to risks such as data loss, insecure interfaces, and technology vulnerabilities. Despite the benefits, the presence of free services inhibits the growth of the access control as a service market.



Read more at GlobeNewswire: Access Control as a Service Companies