The visitor management system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Visitor Management System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The visitor management system market size has grown rapidly in recent years. It will grow from $1.61 billion in 2023 to $1.87 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to heightened security needs, regulatory compliance requirements, changing business practices, industry-specific adoption patterns, demand for efficiency and cost reduction.
The visitor management system market size is expected to see rapid growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to advancements in artificial intelligence (AI) and machine learning (ML), integration with internet of things (IoT) devices, increasing emphasis on touchless solutions due to the COVID-19 pandemic, growing demand for data analytics and actionable insights, expansion of remote work and hybrid work models. Major trends in the forecast period include continued shift towards cloud-based visitor management solutions, increased adoption of mobile-based visitor management apps, integration of health screening and contact tracing features, emphasis on sustainability and eco-friendly visitor management practices, expansion of ai-driven personalization and automation in visitor experiences.
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Scope Of Visitor Management System Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Visitor Management System Market Overview
Market Drivers –
The acceleration in IoT and AI adoption is expected to propel the growth of the visitor management system market going forward. The Internet of Things (IoT) refers to a network of interconnected devices communicating and sharing data, enabling them to work together seamlessly. Artificial intelligence (AI) encompasses creating computer systems capable of executing tasks that typically demand human intelligence. The increasing demand for real-time data analysis and connectivity accelerates IoT and AI adoption across industries. The integration of IoT in visitor management systems allows for enhanced connectivity and communication between various devices and sensors. Smart sensors can be deployed at entry points, providing real-time data on visitor movements, occupancy levels, and other relevant information. This connectivity improves the overall efficiency and accuracy of the visitor management process. For instance, according to the GSM Association, a UK-based non-profit industry organization, the global IoT connections are expected to surge to 23.3 billion by 2025, an increase from the 15.1 billion connections recorded in 2021. Moreover, according to the International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) in 2022, an increase of 4% from 2021. Therefore, the acceleration of IoT and AI is driving the growth of the visitor management system market.
Market Trends –
Major companies operating in the time-tracking solutions market are increasing their focus on developing AI-based time-tracking solutions, such as Zero Time, to gain a competitive edge in the market. These AI-based time-tracking solutions utilize artificial intelligence to automatically track and categorize the time spent on various tasks and activities, offering benefits such as improved productivity, optimized work habits, and enhanced time management. For instance, in October 2022, Replicon, a US-based software-as-a-service (SaaS) company, launched Zero Time, an AI-powered automatic time-tracking solution designed for the global workforce. Zero Time is a time-tracking system that enables organizations to modernize their time-tracking process with AI and ML technology. It liberates employees from manual timesheets by automatically capturing their work and time data across over 100 work applications, thus maximizing employee productivity and customer engagement.
The visitor management system market covered in this report is segmented –
1) By Offering: Software, Services
2) By Enterprise Size: Large enterprise, Small And Medium-sized Enterprises (SMEs)
3) By Application: Security Management, Historical Visitor Tracking, Compliance Management And Fraud Detection, Parking Management, Meeting Room Management, Contact Tracing, Other Applications
4) By End User: Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Defense And Aerospace, Government, Education, Retail, Other End-Users
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Regional Insights –
North America was the largest region in the visitor management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the visitor management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the visitor management system market are Honeywell International Inc., Pitney Bowes Inc., MRI Software LLC, Verkada Inc., Parabit Systems Inc., Raptor Technologies LLC, SmartSpace Software PLC, Modern Receptionist, Qminder Inc., Tactic, piLOBI, Eptura Ltd., AlertEnterprise Inc., Proxyclick NV, OfficeSpace Software Inc., iLobby Inc., SwipedOn, Veristream LLC, Veris, Mantra SoftechIndia Pvt. Ltd., Building Intelligence Inc., Carson Living Inc., ALICE Receptionist
Table of Contents
- Executive Summary
- Visitor Management System Market Characteristics
- Visitor Management System Market Trends And Strategies
- Visitor Management System Market – Macro Economic Scenario
- Global Visitor Management System Market Size and Growth
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- Global Visitor Management System Market Competitive Dashboard
- Key Mergers And Acquisitions In The Visitor Management System Market
- Visitor Management System Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Visitor Management System Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Visitor Management System Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Visitor Management System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Honeywell International Inc. Financial Performance
Table 76: Pitney Bowes Inc. Financial Performance
Table 77: MRI Software LLC Financial Performance
Table 78: Verkada Inc. Financial Performance
Table 79: Parabit Systems Inc. Financial Performance
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