PUNE, India, December 22, 2016 /PRNewswire/ --
According to the new market research report on the "Access Control as a Service Market by Service (Hosted, Managed), Deployment (Public Cloud, Private Cloud), End-Use Application (Commercial, Manufacturing & Industrial, Government Bodies, Utilities), Region - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 1,678.3 Million by 2022, at a CAGR of 26.82% during the forecast period.
Browse 66 market data Tables and 54 Figures spread through 146 Pages and in-depth TOC on "Access Control as a Service Market"
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The increased demand for ACaaS from businesses with multiple locations to centralize their operations, security risks raised in the IT industry by bringing your own device policy, and large-scale adoption of Internet of Things (IoT) and increased usage of advance virtualization and cloud computing platforms are some of the major drivers for the ACaaS market.
Hosted services expected to lead the global ACaaS market between 2016 and 2022
The hosted services segment held a major share of the ACaaS market in 2015. As the hosted service is web-based, the clients need not to look after the maintenance of the server. This has been the key driving factor for the hosted service market. However, the managed services market is expected to grow at the highest rate during the forecast period.
The ACaaS market for manufacturing & industrial application expected to grow at the highest rate between 2016 and 2022
There would be a significant rise in Access Control as a Service Market for manufacturing and industrial application between 2016 and 2022; The growth of the is attributed to the growing demand for access control system for protecting employees and properties across the manufacturing and industrial sites such as oil and gas, chemicals, pharmaceuticals, metal and mining, power, automotive, water treatment, cement, and textile industries.
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The ACaaS market in the North America expected to capture the largest market share during the forecast period
The ACaaS market in the North American region is expected to hold the largest market share between 2016 and 2022. The stabilized constructions in North America and convergence of mechanical and electronic security products for the same has been the key driving factor for the North American market. The European market is expected to capture the second-largest share during the forecast period. The commercial, government bodies, and manufacturing and industrial applications expected to be the leading segments in the European ACaaS market.
Currently, the ACaaS market is dominated by the players such as Brivo Inc. (U.S.), Cloudastructure Inc. (U.S.), Tyco Security Products (Ireland), Assa Abloy AB (Sweden), and Dorma + Kaba Holding AG (Switzerland), among many others.
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