Global Access Control as a Service Market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during forecast period.
Market Definition Access control as a service (ACaaS) is a sub segment of software as a service. ACaaS is a cloud-based solution, which controls access remotely and stores backup and data securely. ACaaS provides permanent records of who accessed controlled areas or systems. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Market Dynamics The objectives of the global access control as a service market research report includes forecast of ACaaS market, detailed information about drivers, restraints, challenges and opportunities of the market. Increasing adoption of cloud based services is the major driving factor behind the growth of market. ACaaS offers some benefits such as easy implementation, scalability, flexibility, reliability, high availability and resiliency, increased efficiency and easy access from mobile are improving the growth of market. Furthermore, rising demand for ACaaS from various businesses to centralize their operations, growing security breaches in IT industry, trends of mobility and BYOD (Bring your own device) and rapid adoption of cloud computing platforms are driving the growth of market. However, there are some downsides of ACaaS such as security concerns of unauthorized access to resources over cloud based services could hamper the growth of market. Also lack of technical skilled personnel, slow-going adoption of latest technologies by small and medium sized business and lack of awareness about ACaaS amongst end users are the factors that could obstruct the growth of market. Global Access Control as a Service Market: Segmentation Analysis By services, hosted service segment dominated the market in 2017. It is web based service in that the user doesn’t need to look after the maintenance of the server. It is an application, IT infrastructure component and function that organizations access from external service providers through an internet connection. Common examples of hosted services are e-mail, website hosting, file hosting, security and virtual server hosting. Additionally, managed services segment is witnessing the fastest growth and is expected to grow at CAGR of XX% during forecast period. Managed services are very effective for a business that relies on their IT infrastructure to properly support their daily business processes. Furthermore, it offers some benefits such as better cost control, improved risk management, high availability, efficiency, productivity and future proofing IT services, which are driving the growth of market. By deployment, public cloud segment dominated the market in 2018 and is expected to keep its dominance over forecast period. A public cloud is a cloud service that shares computing services among different consumers, even though each consumer’s data and applications running in the cloud remain hidden from other cloud users. It offers benefits such as cost efficiency, less server management, low maintenance and security. Microsoft Azure is an example of a public cloud. Global Access Control as a Service Market: Regional Analysis Region wise, North America held the largest market share in 2018 and is expected to maintain its dominance during forecast period. The US and Canada are dominated the market. This is owing to the large scale adoption of cloud computing technology among the IT companies across the region. Emergence of mechanical and electronic security products across the region is driving the growth of market. Furthermore, increasing security concerns among businesses, large scale adoption of IoT and increased use of advance virtualization platform are improving the growth of ACaaS market in region. The objective of the report is to present a comprehensive analysis of the Global Access Control as a Service Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Access Control as a Service Market dynamics, structure by analyzing the market segments and projects the Global Access Control as a Service Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Access Control as a Service Market make the report investor’s guide.