TechNavio is predicting “immense growth” for the global Access Control as a Service (ACaaS) market over the next few years. In a new report, the market research firm forecasts a CAGR of 24 percent between 2016 and 2020.
In a report synopsis, TechNavio credits much of the market’s expansion to “the growing need for high-level data and identity security in corporate firms.” The forecast also calls for increasing consolidation as bigger firms such as IBM, Cisco, and Microsoft seek to acquire smaller vendors specializing in niche technologies and markets, with TechNavio IT security analyst Amrita Choudhury suggesting that the market is currently “highly fragmented”, offering “a wide scope for M&A.”
Looking to regional trends, TechNavio notes that while the Americas dominated the ACaaS market last year with a 47 percent share of its revenues, market saturation is expected to bring about a decline over the forecast period, while APAC’s market share rises from last year’s 23.3 percent thanks in large part to the enterprise sector’s growing embrace of mobile devices.
All told, it’s a positive picture for the ACaaS market, and that should offer some corollary benefits to organizations specializing in sophisticated digital security technologies such as biometrics as those kinds of solutions are increasingly sought for ACaaS platforms.
February 1, 2016 – by Alex Perala