Visitor Management System Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033

"The new report published by The Business Research Company, titled ""Visitor Management System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the visitor management system market size has grown rapidly in recent years. It will grow from $1.61 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The visitor management system market size is expected to see rapid growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%.

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IoT And AI Fuel Growth In Visitor Management Systems Market
The acceleration in IoT and AI adoption is expected to propel the growth of the visitor management system market going forward. The Internet of Things (IoT) refers to a network of interconnected devices communicating and sharing data, enabling them to work together seamlessly. Artificial intelligence (AI) encompasses creating computer systems capable of executing tasks that typically demand human intelligence. The increasing demand for real-time data analysis and connectivity accelerates IoT and AI adoption across industries. The integration of IoT in visitor management systems allows for enhanced connectivity and communication between various devices and sensors. Smart sensors can be deployed at entry points, providing real-time data on visitor movements, occupancy levels, and other relevant information. This connectivity improves the overall efficiency and accuracy of the visitor management process. For instance, according to the GSM Association, a UK-based non-profit industry organization, the global IoT connections are expected to surge to 23.3 billion by 2025, an increase from the 15.1 billion connections recorded in 2021. Moreover, according to the International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) in 2022, an increase of 4% from 2021. Therefore, the acceleration of IoT and AI is driving the growth of the visitor management system market.

Integration Of Biometric Identification In Visitor Management Systems
Major companies operating in the visitor management system market are developing advanced solutions, such as NCheck Visitor Management System (VMS), to gain a competitive edge in the market. NCheck Visitor Management System (VMS) is the automated recognition and authentication of individuals based on unique biological traits or behavioral characteristics, such as fingerprints, facial features, iris patterns, voice, or gait, often used for security, access control, or identification purposes. Implementing biometric identification enhances security and efficiency in visitor management systems. For instance, in November 2022, Neurotechnology, a Lithuania-based software company, launched the NCheck Visitor Management System (VMS), offering seamless integration of biometric identification from live video feeds. It promises heightened security and efficiency for managing appointments and access in various settings, including public and private buildings, healthcare facilities, campuses, and more. With its touchless check-in process and robust features such as support for multiple biometric modalities and presentation attack detection, NCheck VMS caters to the demands of modern visitor management, ensuring both safety and convenience.

The visitor management system market covered in this report is segmented -

1) By Offering: Software, Services
2) By Enterprise Size: Large enterprise, Small And Medium-sized Enterprises (SMEs)
3) By Application: Security Management, Historical Visitor Tracking, Compliance Management And Fraud Detection, Parking Management, Meeting Room Management, Contact Tracing, Other Applications
4) By End User: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Defense And Aerospace, Government, Education, Retail, Other End-Users

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Major companies operating in the visitor management system market are Honeywell International Inc., Pitney Bowes Inc., MRI Software LLC, Verkada Inc., Parabit Systems Inc., Raptor Technologies LLC, SmartSpace Software PLC, Modern Receptionist, Qminder Inc., Tactic, piLOBI, Eptura Ltd., AlertEnterprise Inc., Proxyclick NV, OfficeSpace Software Inc., iLobby Inc., SwipedOn, Veristream LLC, Veris, Mantra SoftechIndia Pvt. Ltd., Building Intelligence Inc., Carson Living Inc., ALICE Receptionist

Contents of the report:
1. Executive Summary
2. Visitor Management System Market Report Structure
3. Visitor Management System Market Trends And Strategies
4. Visitor Management System Market - Macro Economic Scenario
5. Visitor Management System Market Size And Growth
…..
27. Visitor Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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