Global Visitor Management System Market By Component (Software and Services) By Application (Security Management, Parking Management, Compliance Management & Fraud Detection, Historical Visitor Tracking and Others) By Deployment Type (On-premise and Cloud) By Organization Size (Large Enterprises and Small & Medium Enterprises) By End User (BFSI, Retail, Government & Defense, Travel & Hospitality, Healthcare & Life Sciences, Telecom & IT and Others) By Region, Industry Analysis and Forecast, 2020 - 2026
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The Global Visitor Management System Market size is expected to reach $2 billion by 2026, rising at a market growth of 16.3% CAGR during the forecast period. Visitor management systems track the flow of visitors within an organization, provide visual identification to visitors and access control for visitors. Visitor management systems make it easy to capture and track entities inside a building or network. Using the automation mechanism eliminates manual labor dramatically, such as registration and recording. Manual paperwork is also minimized with a wide range of electronic data transfers and sharing. Visitor management is an innovative approach that allows organizations to achieve greater control of the visitor behavior at their locations. It is a software-based solution that records, captures, recovers and monitors visitor information in order to manage visitor traffic within the building/office.
Global Visitor Management System Market Size
Security is a key concern for businesses, as a threat to business data can lead to a loss of integrity, availability and confidentiality of data. It also guarantees the end-to - end encryption of data and the protection of data from interference by an unauthorized party. Compliance management and fraud prevention are projected to have the highest CAGR over the forecast period. The need to ensure consistency with regulatory standards and to simplify enforcement and fraud prevention is driving the growth of compliance management and fraud detection in the market for visitor management systems.
The BFSI industry is a dynamic industry that relies on visitor data to make effective business decisions. Using Visitor Management System solutions in the vertical banking sector is important as there is a need to take security measures to help reduce and prevent potential threats and to track and identify actual clients. Installing Visitor Management System Software in the BFSI industry eliminates the expense of maintaining various programs and personalities across organizations.
Visitor Management System Market Share
The increasing importance of monitoring visitor movements through various organizations is a key factor leading to the growth of the global market for visitor management systems. The visitor management system is an innovative tool that allows companies achieve greater control over the movement of visitors in their facilities. Visitor management system is a software-based program that collects, tracks, documents and restores visitor information in order to handle visitor activity inside the office/building.
Based on Component, the market is segmented into Software and Services. Based on Application, the market is segmented into Security Management, Parking Management, Compliance Management & Fraud Detection, Historical Visitor Tracking and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail, Government & Defense, Travel & Hospitality, Healthcare & Life Sciences, Telecom & IT and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Visitor Management System Market to reach a market size of $2 billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Assa Abloy AB (Quantum Secure, Inc.), SmartSpace Software PLC, Vuetura Corporation, VersionX Innovations Pvt. Ltd., Asiatact (Singapore) Pte Ltd., Jolly Technologies, Inc., Genetec, Inc., AlertEnterprise, Inc., and Parabit Systems, Inc.
Recent Strategies Deployed in Visitor Management System Market
- Mar-2020: HID Global, a subsidiary of Assa Abloy launched HID Signo, its signature line of readers. The new readers aim to simplify system deployment and management, fulfilling the advanced security requirements of dynamic environments and enabling the organizations up for smarter and more connected access control.
- Feb-2020: SmartSpace Software announced partnership with Evoko and launched Naso, a new meeting room panel for the sale of its software on a SaaS basis. This solution would be offered as subscription-based integrated software that would enable users to manage bookings through Microsoft Outlook.
- Oct-2019: SmartSpace Software signed an agreement to acquire Space Connect Pty Limited. The acquisition would help the company in many ways. The acquisition would provide cloud-based software, fast to deploy platform; room booking, desk management, visitor management, catering, and workspace analytics; software integrations with Microsoft Exchange, Google, Skype, Uber, Zoom, and many more.
- Aug-2019: Genetec introduced Genetec ClearID, a self-service physical identity and access management (PIAM) system. The system is focused on standardizing and enforcing security policies to help make organizations more efficient, compliant, and secure.
- Apr-2019: Genetec came into partnership with NtechLab, a company engaged in developing and implementing artificial intelligence algorithms. The partnership enabled Genetec Security Center users to have access to NtechLab’s FindFace facial recognition algorithm. FindFace Security creates greater situational awareness and increases the efficiency of control operations by turning video streams gathered by Genetec surveillance technologies into valuable insights with the use of AI-driven face recognition.
- Oct-2018: SmartSpace acquired SwipedOn, a software-as-a-service company, which developed an innovative worksite visitor management solution. The acquisition broadened the company's revenues and strengthened its business in enterprise levels business.
- May-2017: Jolly released version 8 of its product line including Lobbytrack, ID Flow, Eventleaf Desktop, Asset Track, and Label Flow. The new products enabled the company to better match consumer needs as the market evolves. The version 8 lineup also includes Jolly's newest version of Lobbytrack Online Registration. Lobbytrack Online Registration delivers a powerful, local network-based module which allows employees to register visitors from the comfort of their desk.
- Jan-2017: HID Global, a part of Assa Abloy introduced the EasyLobby Solo, a visitor management system. The system is a highly efficient, easy, and affordable way to transition to digital visitor registration and eliminated the need for traditional paper-and-pen visitor logs.
Scope of the Visitor Management System Market Analysis
- Security Management
- Parking Management
- Compliance Management & Fraud Detection
- Historical Visitor Tracking
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Government & Defense
- Travel & Hospitality
- Healthcare & Life Sciences
- Telecom & IT
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Honeywell International, Inc.
- Assa Abloy AB (Quantum Secure, Inc.)
- SmartSpace Software PLC
- Vuetura Corporation
- VersionX Innovations Pvt. Ltd.
- Asiatact (Singapore) Pte Ltd.
- Jolly Technologies, Inc.
- Genetec, Inc.
- AlertEnterprise, Inc.
- Parabit Systems, Inc.
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