Visitor Management System Global Market Report 2024

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 observed during the historical period can be attributed to several factors, including increased security needs, regulatory compliance requirements, evolving business practices, industry-specific adoption patterns, and the growing demand for efficiency and cost reduction measures.

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 anticipated growth in the forecast period is expected to be fueled by advancements in artificial intelligence (AI) and machine learning (ML), integration with Internet of Things (IoT) devices, heightened focus on touchless solutions prompted by the COVID-19 pandemic, increasing demand for data analytics and actionable insights, and the proliferation of remote work and hybrid work models. Key trends projected for the forecast period include a continued shift towards cloud-based visitor management solutions, rising adoption of mobile-based visitor management apps, integration of health screening and contact tracing features, a growing emphasis on sustainability and eco-friendly visitor management practices, and the expansion of AI-driven personalization and automation in visitor experiences.

The surge in IoT and AI adoption is poised to propel the advancement of the visitor management system market in the foreseeable future. IoT, facilitating seamless communication and data exchange among interconnected devices, and AI, enabling systems to perform tasks requiring human-like intelligence, are increasingly being embraced across various industries driven by the demand for real-time data analysis and connectivity. Integration of IoT into visitor management systems enhances connectivity and communication between devices and sensors, with smart sensors deployed at entry points providing real-time data on visitor movements and occupancy levels. This connectivity significantly enhances the efficiency and accuracy of visitor management processes. For instance, as projected by the GSM Association, global IoT connections are expected to reach 23.3 billion by 2025, up from 15.1 billion connections in 2021. Furthermore, according to the International Business Machines Corporation (IBM), 35% of businesses worldwide utilized AI in 2022, marking a 4% increase from 2021. Consequently, the accelerated adoption of IoT and AI emerges as a primary driver fueling the growth of the visitor management system market.

Key players in the visitor management system market are committed to developing advanced solutions to maintain a competitive edge. One such solution is the NCheck Visitor Management System (VMS), introduced by Neurotechnology, a Lithuania-based software company. NCheck VMS leverages automated biometric recognition and authentication based on unique biological traits or behavioral characteristics, such as fingerprints, facial features, iris patterns, voice, or gait, enhancing security and efficiency in visitor management. Launched in November 2022, NCheck VMS offers seamless integration of biometric identification from live video feeds, catering to diverse settings including public and private buildings, healthcare facilities, campuses, and more. With its touchless check-in process and robust features supporting multiple biometric modalities, NCheck VMS addresses the evolving demands of modern visitor management, prioritizing safety and convenience.

In May 2023, OfficeSpace Software Inc., a US-based software company, bolstered its workplace platform by acquiring Greetly Visitor Management System for an undisclosed amount. This strategic acquisition enhances OfficeSpace Software's offering by integrating a customizable visitor management system, providing real-time data insights and communication capabilities. By empowering organizations to make informed decisions about workplace experience and real estate strategy, Greetly Visitor Management System aligns with OfficeSpace Software's commitment to delivering comprehensive workplace solutions tailored to evolving needs.

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.

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.

The countries covered in the visitor management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A visitor management system is a software application crafted to streamline and safeguard the tracking, monitoring, and administration of visitor entry and exit within a facility. Its primary aims are to bolster security measures, ensure regulatory compliance, and empower administrative control. Integral to contemporary facility management and security operations, it enhances efficiency and furnishes valuable insights into visitor traffic and behavior.

The primary offerings of visitor management systems encompass software and services. Software entails the programs and applications executed on computers and other electronic devices. These systems cater to enterprises of varying sizes, including large enterprises and small and medium-sized enterprises (SMEs). Their applications span security management, historical visitor tracking, compliance management and fraud detection, parking management, meeting room management, contact tracing, and others. They find utility across diverse sectors, serving end users such as banking, financial services, and insurance (BFSI), information technology and telecommunication, defense and aerospace, government, education, retail, among others.

The visitor management system market research report is one of a series of new reports that provides visitor management system market statistics, including visitor management system industry global market size, regional shares, competitors with a visitor management system market share, detailed visitor management system market segments, market trends and opportunities, and any further data you may need to thrive in the visitor management system industry. This visitor management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The visitor management system market consists of revenues earned by entities by providing services such as managed services, integration services, security services, and customization services. The market value includes the value of related goods sold by the service provider or included within the service offering. The visitor management system market also includes sales of check-in software, security software, self-service kiosks, and biometric devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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