[FURL=https://www.industryarc.com/Research/Access-Control-As-A-Service-Market-Research-505270?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Access Control as a Service Market[/FURL] is expected to reach $2.42 billion by 2025 at a CAGR of 16.0% during the forecast period 2020-2025. Owing to adoption of bring your own device (BYOD) in IT enterprises, concerns regarding security has attributed to the growth of access control as a service market. Additionally, increasing use of cloud computing platforms along with the adoption of IoT is fueling the market growth. In addition technological shift from traditional systems to the advanced security system and an increase in the use of personal devices by the employees of an organization is the primary factor driving the growth of the market. Moreover government sectors adopting cloud technology in different areas such as defense and railway has also propelled the demand for this industry in the forecast period 2020-2025.Key Takeaways
Increasing adoption of electronic security products among end users, coupled with availability of advanced technological security solutions are factors propelling growth of the target market in North America.
Hosted Services are growing at a highest CAGR of 20.2% in the forecast period as this service offers higher level of security to the end user.
Hybrid cloud platform has been gaining popularity as it not only offers flexibility, scalability, and multi-cloud space, but also provides security assurance to organizations. In addition, the step toward hybrid cloud makes the integrity of data and services a major priority for organizations.
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Access Control as a Service Market Drivers
Increase in adoption of cloud-based services among SMEs
SMEs are continuously focusing on streamlining their business models for achieving business efficiency. The SMEs across verticals do not have stringent security measures for safeguarding their data, networks, endpoints, and applications.Cyber-attackers widely target them. These enterprises still do not have advanced cybersecurity solutions to combat the evolving threat landscape. Sophisticated cyber-attacks bypass traditional security systems easily.The cloud deployment mode provides flexibility, scalability, and cost-effectiveness to streamline business operations. The cloud deployment mode provides flexibility, scalability, and cost-effectiveness to streamline business operations. With SMEs shifting their focus to cloud solutions, cloud-based data protection solution and service providers are expected to witness massive growth opportunities, such as safeguarding the data of SMEs from security breaches and vulnerabilities.
Access Control As A Service top 10 companies include ADS Security, AIT Ltd., ASSA Abloy AB, Brivo Inc., Centrify Corporation, Cloudastructure Inc., Dorma+Kaba Holding AG, Gemalto NV, Honeywell Security, Kisi Inc.
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