Facts and Factors Market Research has published a new report titled “Visitor Management Software Market By Type (Provisioning Software, Physical Identity & Access Management, and Physical Security Information Management), By Service Type (Professional Services, Deployment & Integration, and Managed Services), By Application Type (Critical Infrastructure Protection, Port Security, Public Safety & Security, and Energy Security), and By Vertical (BFSI, Education, Healthcare & Lifesciences, Retail, Aerospace & Defense, IT & Telecom, and Government & Public Sector): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global Visitor Management Software market is predicted to be valued at approximately USD 2,075 million in 2018 and is expected to reach a value of around USD 8,709 million by 2027, at a CAGR of around 17.3% between 2019 and 2027.
Visitor management software is developed to serve firms and startups. Moreover, it helps in capturing, monitoring, recording, and recovering visitor data for effectively handling the visitor traffic in the office or building premises. The software also provides a watch list, pre-registration, registration management, visitor tracking, and ID scan.
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Furthermore, visitor management software possesses various features like fingerprint scanning, automatic pre-registration of estimated registers, and auto-identification of repeated visitors. Apart from this, visitor management software created access cards providing authorization to access as well as restriction facility as per the kind of visitor. The software annihilates manual errors and guarantees enhanced performance & security of the office or building premises.
Growing preference for paperless administrative functions to steer the market growth
The growth of the market during the forecast timeline is owing to many of the registrations and documentations performed in a paperless manner. Additionally, firms prefer saving, maintaining, and managing visitor data in an electronic form. Additionally, strict government rules pertaining to maintaining the registers of visitor data will favorably leverage the expansion of the visitor management software industry during the forecast period.
Furthermore, huge reliance on the software-based security services for addressing the compliance issues will embellish the growth of the business during the forecast timeline. Apparently, the visitor management software is deployed in myriad industries, hotels, schools, corporate offices, and banks. Additionally, the growing popularity of software-based security solutions is projected to enlarge the scope of the business during the forecast period. Nevertheless, low consumer adoption of visitor management software can put brakes on the growth of the market during the forecast timeline. However, high-security issues along with a rise in the number of industries as well as visitors to these industries will create lucrative opportunities for the market over the forecast period.
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Physical security information management to lead the type segment by 2027
The growth of the segment during the period from 2019 to 2027 is due to a rise in the use of physical security information management services in a myriad number of business verticals.
BFSI segment to register highest CAGR during the forecast period
The segment is predicted to record the highest growth rate of more than 18% during the forecast timeline. The growth of the segment during the forecast timeline is due to high-security issues occurring at the time of financial transactions as well as financial activities.
North America to account for the major market revenue share by 2027
The regional market growth during the forecast timeline is owing to the huge presence of leading industry players in countries like the U.S. and the escalating popularity of the visitor management software in North America.
Some of the key participants in the business include Alert Enterprise, AppGear Ltd., BALANCE & UNIQUE Co., Ltd., Building Intelligence Inc., Envoy Inc., Genetec Inc., HID Global Corporation/ASSA ABLOY AB, Honeywell International Inc., InVentry Limited, Jolly Technologies Inc., Parabit Systems, Proxyclick, Quantum Secure Inc., SMG Infosolutions Pvt Ltd., Track force, and WhosOnLocation.
This report segments the Visitor Management Software market as follows:
Visitor Management Software Market: By Type Analysis
- Provisioning Software
- Physical Identity & Access Management
- Physical Security Information Management
Visitor Management Software Market: By Service Type Analysis
- Professional Services
- Deployment & Integration
- Managed Services
Visitor Management Software Market: By Application Type Analysis
- Critical Infrastructure Protection
- Port Security
- Public Safety & Security
- Energy Security
Visitor Management Software Market: By Vertical Analysis
- Healthcare & Lifesciences
- Aerospace & Defense
- IT & Telecom
- Government & Public Sector
Visitor Management Software Market: By Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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