Access Control as a Service Market Size To Worth USD $ 2.2 billion by 2027 | CAGR of 16.4%

The global access control as a service market is estimated 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. Rising adoption of IoT-based security systems with cloud computing platforms, Growing number of smart infrastructure drives adoption & deployment of Access Control Services, and increase in adoption of ACaaS from businesses at multiple locations use ACaaS for centralized operations.

Johnson Controls (Ireland), Honeywell Security (US), Thales (France), Assa Abloy AB (Sweden), and dormakaba Holding AG (Switzerland) are some of the key players in the access control as a service market.

Browse 129 market data Tables and 49 Figures spread through 190 Pages and in-depth TOC on "Access Control as a Service Market (ACaaS)"

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Market Dynamics:

Driver: Increased adoption of IoT-based security systems and cloud computing platforms

Cloud computing technology analyzes and stores data efficiently. This computing technology has servers that are connected to cloud platforms. This enables sharing of resources, which can be accessed at any place and time using the internet. Cloud Computing is an essential part of IoT which analyzes information obtained from the sensors, increases processing power, unites the servers, and provides good storage capacity. Cloud computing is integrated with smart objects which use many sensors and helps IoT for large-scale development. IoT depends on cloud computing and both computing technologies face security threats.

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Restraint: Security and privacy concerns related to unauthorized access and data breach in access control environment

An inadequate access control causes intruders to gain unauthorized access to organizational data. Intruder breaching can be attributed directly to a lack of proper access control service. This breaching can be a cause of poor monitoring of the admin privileges within an organization. Also, the third-party applications used inside the organization can introduce vulnerabilities and security breaches. An attacker can easily utilize these loopholes to breach critical organizational data. In most industries, physical and logical security are separate departments as their requirements and approaches are different. An access control service is always prone to threats from anyone with an intention to breach either physical or logical security.

Opportunity: Adoption of ACaaS as a cost-effective and flexible solution

Access control as a service enhances end-user privacy, eliminates the need for developing complex implementation protocols, and offers data owners flexibility to switch among cloud providers or use multiple cloud providers concurrently. It relieves cloud providers from the burden of implementing complex security solutions and enables enterprises to deploy their specific access control mechanisms. Various organizations have adopted cloud-based ACaaS as there is an increase in businesses, staff, and devices. The shift from full security systems to cloud-based ACaaS has been highly successful for many organizations. According to a recent study published in January 2021 by Cynet, the cloud is the number one preferred security technology deployment strategy.

Challenge: Availability of free Access Control Services

Cloud service providers offer security as a service to organizations for managing their infrastructure and resources, helping them in cutting costs, and delivering services quickly and efficiently. A wide range of cloud services are offered by various vendors at discount prices and sometimes as bundled services for free. Additionally, free access control services are open to risks such as account or service hijacking, data loss or theft, insecure interfaces & APIs, and technology vulnerabilities, especially in shared environments. Owing to this, the availability of free access control services hampers the growth rate in access control as a service market.

Johnson Controls is a worldwide leader in the engineering, manufacturing, and commissioning of building goods and systems such as residential and commercial heating, ventilation, and air conditioning (HVAC) equipment, industrial refrigeration systems, controls, security systems, and fire detection and suppression solutions. Customers are also offered the company's technical services, which include equipment maintenance, management, repair, retrofit, and replacement (in the HVAC, industrial refrigeration, security, and fire-protection space), energy-management consulting, and data-driven smart building services and solutions powered by its OpenBlue software platform and capabilities. The diversified products of the company are sold under the YORK, Hitachi Air Conditioning, Metasys, Ansul, Ruskin, Titus, Frick, PENN, Sabroe, Silent-Aire, Simplex, and Grinnell brands.

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North America held the largest share of ~60% in the ACaaS market in 2021 and the same trend is expected in the near future. The market growth in this region is predominantly rising due to the strong presence of key ACaaS provider such as Honeywell International Inc., Identiv, Inc., Kastle Systems, AMAG Technology, Inc., Brivo Inc., and Cloudastructure, Inc. The growth is also attributed to early adoption of security solutions due to the increased safety and security concern in people. For instance, in May 2020, US faced vandalism during the Black Life Matter protests, owing to this, various cases of burglary happened in commercial luxury shopping centers. Which has heightened the need of more secure access solutions to prevent mishaps in the future.

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