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According to a new report, published by KBV research, The Global Access Control as a Service (ACaaS) Market size is expected to reach $2.3 billion by 2028, rising at a market growth of 15.0% CAGR during the forecast period.
The Hybrid segment is showcasing a CAGR of 16.1% during (2022 - 2028). In this model, neither the qualities nor the roles are directly linked to the permissions. These attributes are used for authentication and for dynamic role assignment, which assigns roles to users based on the attributes they supply. An efficient solution to reduce cyber security risk and guarantee compliance with the most recent legislation and standards is to use a hybrid access controls service, which helps to increase threat visibility and help quickly respond to attacks.
The Public segment acquired maximum revenue share in the Global Access Control as a Service (ACaaS) Market by Cloud Deployment Model in 2021 thereby, achieving a market value of $1.7 billion by 2028. The main driver behind the adoption of public clouds in ACaaS has been their capacity to store data and make it accessible to users from any location. Cloud service providers provide public cloud-based access control services accessible online. Public clouds and their services are typically preferred by businesses that use web servers or application systems, wherein security and compliance requirements are less stringent.
The Retail & Others segment has shown the growth rate of 15.6% during (2022 - 2028). It is essential to protect safe working conditions, avoid business interruption, and reduce financial loss in the retail sector. Within the past few years, there has been a significant rise in the number of malls and retail establishments in urban regions. Access control as a service offers a number of long-term advantages, including a decrease in retail losses, an increase in shop earnings, and, most crucially, a reduction in threats.
The North America market dominated the Global Access Control as a Service (ACaaS) Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028. The Europe market is exhibiting a CAGR of 15.3% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 16.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson Controls International PLC, Thales Group S.A., Assa Abloy AB, Dormakaba Holding AG, Identiv, Inc., Microsoft Corporation, Cisco Systems, Inc., Honeywell International, Inc. (Honeywell Commercial Security), AMAG Technology, Inc. (G4S PLC), and Brivo Systems LLC.
By Service Type
By Cloud Deployment Model