Visitor Management Software Market To Register Lucrative Growth, Revenue To Surge To US$ 6300.0 Million By 2025
With the presence of a large pool of participants, the global visitor management software market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Alert Enterprise, AppGear Ltd, BALANCE & UNIQUE Incorporation, Building Intelligence Incorporation, and Envoy Genetec Incorporation are some of the key vendors of visitor management software across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the visitor management software market study.
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Citing an instance, on September 25th 2018, Vanderbilt- a worldwide provider of state-of-the-art access control, video, and intrusion security systems – declared that it integrated its Vanderbilt Security Management System (SMS) software with Allegion’s Von Duprin Remote Undogging (RU) and Remote Monitoring (RM) tools. The former claimed that the integration will help in enhancing the functionalities of its Vanderbilt Security Management System software as well as its operational efficiency along with strengthening mutual product offerings for the customers.
As estimated in this report, the global visitor management software market stood at US$ 1200.0 million in the year 2015. Witnessing a tremendous rise during the period from 2017 to 2025, the revenue in this visitor management software market is expected to reach US$ 6300.0 million by the end of the forecast period. The main product types available in this visitor management software market are provisioning software, physical security information management, and physical identity and access management. Among them, the demand for physical security information management is relatively higher and the trend is anticipated to remain so over the next few years, notes the visitor management software market research report.
High Preference For Paperless Administrative Operations To Uplift Growth
“Extensive implementation of paperless administrative operations is one of the key factors that are favorably influencing the growth map of visitor management software market,” says the author of this study. Apart from this, visitor management software has garnered massive popularity across BFSI, IT & Telecom, Aerospace & Defense, Healthcare & Life Sciences, Retail, Education, and Government & Public sectors. In addition, visitor management software market is rapidly gaining traction owing to its prominent demand for energy security, critical infrastructure protection, energy security, and public safety & security.
Low level of awareness pertaining to benefits of visitor management software usage and slow rate of acceptance of the software in emerging economies is expected to further contribute towards visitor management software market revenue within the specified timeframe.
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Extensive Need For Maintaining Workplace Safety To Succor Regional Growth
Regionally, North America has been leading the worldwide visitor management software market and is anticipated to continue on the dominant position in the years to come, states the visitor management software market study. Immense requirement of visitor management software for ensuring sound workplace safety & security solutions along with need for supporting current security infrastructure are the key factors behind the dominance of the North America visitor management software market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional visitor management software market.
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