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Access Control as a Service (ACaaS) Market worth $3.06 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The global access control as a service market is expected to be valued at USD 1.34 billion in 2024 and is projected to reach USD 3.06 billion by 2029; it is expected to grow at a CAGR of 17.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Accelerated urbanization in emerging markets is fueling the demand for advanced access control solutions. Growing adoption of cloud-based Access Control as a Service (ACaaS) is transforming security management systems. Increasing integration of access control systems with employee management and HR platforms is enhancing operational efficiency in the access control as a service market. Increasing shift toward subscription-based business models is fostering recurring revenue streams for security service providers. Growing demand to manage global security operations from centralized locations is pushing the adoption of unified security platforms in the access control as a service market.

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Browse in-depth TOC on “Access Control as a Service (ACaaS) Market” 
162 – Tables
64 – Figures
226 – Pages

Access Control as a Service (ACaaS) Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 1.34 billion

Estimated Value by 2029

$ 3.06 billion

Growth Rate

Poised to grow at a CAGR of 17.9%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Service Type, Cloud Deployment Model, Vertical, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Unauthorized Access and Data Breach

Key Market Opportunities

Unauthorized Access and Data Breach

Key Market Drivers

Increased adoption of IoT-based security systems and cloud computing platforms

Commercial vertical to hold the highest market share during the forecast period.

Commercial vertical will account for the largest market share in the ACaaS market during the forecast period. This can be attributed to the increasing need for secure access management solutions across commercial buildings, offices, and retail spaces. Scalability, cost-effectiveness, and even remote access management abilities are making cloud-based ACaaS increasingly attractive within this segment. With increasing urbanization and infrastructure development, coupled with the trend of smart buildings, demand for advanced security systems is rising in the commercial segment, which is further basing its strength in the ACaaS market.

By Service Type, Hybrid segment is projected to grow at a high CAGR of Acalas industry during the forecast period.

A hybrid access control service may be marked as a combination of both hosted and managed access control. In this type of access control, a certain part of the access control system is handled by the end user while the rest of the function is outsourced to a third-party vendor. In this model, permissions are not directly associated with the attributes or the roles. In dynamic role assignment, roles are assigned to users based on the attributes provided by the user, which are then adopted for authentication purposes. Once the roles are assigned, authorization starts whereby the user is granted access based on the assigned roles. The hybrid access control service will act as a catalyst in driving better threat visibility, rapid and effective attack response, minimizing cyber security risks, and being compliant with the latest regulations and standards.

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Asia Pacific will account for the highest CAGR during the forecast period.

In Asia Pacific, China is amongst the largest countries in the world and one of the largest manufacturers and producers of industrial goods. Agaas has grown and developed immensely in the recent years as, to address margin-related issues that Chinese suppliers have been causing, lately manufacturers are adopting cloud-based solutions. The large-scale industrialization of the country has given birth to the growing need for security systems. Thirdly, consistent R &D expense resulted in the innovation of highly sophisticated systems that can meet the diversified user needs. In government sectors, access control system had been employed to raise security measures and take instantaneous action against looming threats. AcaaS – The software and data are retained at vast data centres instead of being retained locally on on-premises servers. Hardware systems remain the same, similar to those in an access control system. Hence, Acaas save the operational costs of institutions considerably with no compromise on the standards of security. In residential areas too, the demand for Acaas is tremendous, thanks to the ever-growing requirement of securing personal properties.

Key Players

Key companies operating in the ACaaS companies are Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Thales (France), ASSA ABLOY Group (Sweden), dormakaba Group (Switzerland), Identiv, Inc. (US), Kastle Systems (US), AMAG (US), Brivo Systems, LLC. (US), and Cloudastructure Inc. (US) among others.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

VSaaS Market Size, Share & Industry Growth Analysis by Type (Hosted, Managed, Hybrid), Feature (AI-enabled VSaaS, Non-AI VSaaS), AI Visual Analysis (Object Detection & Recognition, Intrusion Detection, Facial Recognition, Anomaly Detection), Vertical & Region – Global Forecast to 2029

Access Control Market by Offering (Hardware-Card-based, Biometric, & Multi-technology Readers, Electronics Locks, Controllers; Software; Services), ACaaS (Hosted, Managed, Hybrid), Vertical and Region – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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ELKEM TO SHOWCASE ITS THERMAL MANAGEMENT MATERIALS AT THE BATTERY SHOW

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EAST BRUNSWICK, N.J., Oct. 7, 2024 /PRNewswire/ — Elkem, a leading silicone solutions provider, announces will participate in The Battery Show, taking place October 7-10 in Detroit, at booth #4605.

Elkem offers a range dispensable battery assembly solutions for ease of automation, which includes BLUESIL™ RT Foam product line for thermal insulation & lightweight vehicle applications, BLUESIL™ ESA product line for thermal management & electronic protection and CAF™ product line for sealing & bonding applications in harsh environments.

The company will feature its Thermal Management Materials, which are designed to mitigate thermal runaway, dissipate heat, and improve battery pack fire resistance. Elkem’s solutions protect over two million EV battery packs with 60 billion miles driven. “We can run thermal simulations to show how Elkem products improve battery performance and safety,” said John Albaugh, associate market manager.

Attendees can expect to see hands-on displays and literature covering Elkem’s innovative solutions. “We’re excited to be exhibiting at The Battery Show and look forward to meeting with our customers to discuss their specific needs,” added Albaugh.

Elkem Silicones has over 70 years of experience in automotive applications and is dedicated to creating a sustainable future through innovation. Its EV Applications Center reduces application development costs, expedites validation, and accelerates time to market. “We take pride in our agility to innovate into emerging markets and our technical teams provide services on demand from the design and development phases to qualification and after-sales,” added Albaugh.

Elkem Silicones’ thermal insulating materials and their use in EV batteries are protected by patents US10,501,597 B2 & US11,261,309 B2 and patent applications US2022081529 & US2023203265.

About Elkem ASA
Elkem is one of the world’s leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings of A on Forests, and A- on Climate Change and Water Security. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. www.elkem.com

Press Contact: Karen O’Keefe
                          karen.okeefe@elkem.com
                          609-658-5458

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SOURCE Elkem Silicones

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Newterra Provides Cutting-Edge Technology for Downe Township’s New Wastewater Treatment Facility

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DOWNE TOWNSHIP, N.J., Oct. 7, 2024 /PRNewswire/ — Newterra, a leader in innovative water and wastewater treatment solutions, is proud to announce its critical role in the construction of Downe Township’s new $33 million wastewater treatment facility. This state-of-the-art project will replace outdated septic systems and bring modern wastewater infrastructure to the township’s 1,600 residents, safeguarding the community’s future.

The facility, designed by engineering firm Mott MacDonald and set to be completed within 18 months, is a key development for the township following the devastation caused by Superstorm Sandy. The project received significant funding from the USDA Rural Development program and congressional allocations, but the technological backbone of the system will come from Newterra, whose advanced treatment equipment will ensure the community benefits from clean, efficient, and sustainable wastewater management.

“We’re honored to contribute our expertise and technology to a project that holds such importance for the local community,” said Kevin Cassidy, CEO at Newterra. “Our wastewater treatment solutions are designed to not only meet the immediate needs of Downe Township but also to provide long-term resilience against environmental challenges, ensuring that the township thrives for generations to come.”

With the new facility in place, Downe Township residents in Fortescue and Gandys Beach will be connected to a township-wide sewer system, marking a significant improvement in infrastructure that will enhance public health, environmental protection, and community stability.

Newterra has a long-standing commitment to partnering with rural and coastal communities across the U.S. to deliver sustainable water and wastewater treatment solutions. This project is yet another example of how Newterra is playing a vital role in shaping the future of water infrastructure in regions facing unique challenges.

About Newterra   

Newterra designs, engineers, manufactures, and services environmental, water and wastewater treatment solutions that assure great performance, superb reliability, and the highest value in our global markets.   The company offers a broad portfolio of reliable, trouble-free technologies and outsourcing support for municipal and industrial customers across diverse applications, including drinking water, industrial process water, wastewater, stormwater and remediation. For more information, please visit newterra.com.  

Media Contact 

Nathan CW Smith 

SVP Marketing and Lifecycle Services 

Nsmith@newterra.com

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SOURCE Newterra

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Connected Nation, AT&T, and the International Center of KY recognize local teens to kick off Digital Inclusion Week

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BOWLING GREEN, Ky., Oct. 7, 2024 /PRNewswire/ — To mark the start of Digital Inclusion Week 2024, Connected Nation (CN) joined the International Center of Kentucky and AT&T to welcome a new team to its Teens Teach Tech, powered by AT&T, program. Held on Friday, October 4, at the International Center, officials from the three organizations recognized students from Geo International High School as leaders for their efforts to help their families and other community members learn new technology skills.

Earlier that day, AT&T and Human I-T hosted a device distribution event, where 25 laptops were provided to local high school students through the Bowling Green Area Chamber Foundation and SCK LAUNCH. This event further empowered local teens by connecting them to digital resources, reinforcing the commitment to bridging the Digital Divide and supporting community growth.

“We are thrilled to welcome these great student leaders to our program,” said Tom Ferree, Chairman and CEO of Connected Nation. “Teens Teach Tech, powered by AT&T, allows us to empower students to make a difference in their communities by training the adults in their lives. Through the program, the students can earn startup and incentive funds for their program by providing services that help uplift the community.”

The Teens Teach Tech, powered by AT&T program, launched in 2022, equips teenagers to lead workshops that help bridge the Digital Divide. Teams of student volunteers, with guidance from a program mentor, offer hands-on training to adults who lack technology skills, ensuring they can navigate the online world safely and effectively. Teens Teach Tech powered by AT&T has provided training to more than 13,000 individuals in the past two years, focusing on critical skills such as computer basics, internet safety, and videoconferencing.

“We are thrilled to be joining Connected Nation and AT&T for this recognition of our wonderful students and the opening of our computer lab,” said Kayla Byrd, Director, International Center of Kentucky Bowling Green. “Having devices available to our constituents along with our teen trainers is a win-win for our community. Thanks to a great partnership.”

The Digital Divide remains a significant challenge in the United States, with millions lacking the skills and tools needed to thrive in a technology-driven world. With a third of the U.S. workforce lacking basic digital skills, according to the National Skills Coalition, the need for digital literacy programs has never been greater.

Through its digital skills training programs, Connected Nation is collaborating with community organizations to address this issue head-on by providing local communities with resources to enhance digital literacy. CN has provided training to nearly 20,000 individuals via AT&T-funded digital literacy programs. These efforts are crucial in bridging the gap and ensuring that everyone has the opportunity to succeed in today’s digital age.

“At AT&T, we believe in the power of technology to connect and uplift communities,” said Carlos E. Sanchez, President of AT&T, Kentucky. “Programs like Teens Teach Tech help ensure that everyone, no matter their background, can thrive in today’s digital economy. We’re proud to support this initiative and see its impact in Bowling Green.”

About Digital Inclusion Week:
Digital Inclusion Week is a national event that raises awareness of programs and initiatives aimed at closing the Digital Divide. Organizations across the country participate by highlighting the importance of digital access and literacy. Connected Nation is proud to be a part of this movement, working alongside partners like AT&T and the International Center of Kentucky to empower individuals through technology.

About Connected Nation: Connected Nation celebrated 20 years of service in 2021. The national nonprofit’s mission is to improve lives by providing innovative solutions that expand access to and increase the adoption and use of broadband (high-speed internet) and its related technologies for all people. Everyone belongs in a Connected Nation.

For more information, please visit: connectednation.org and follow Connected Nation on Facebook and Twitter.

About Philanthropy & Social Innovation at AT&T
We’re committed to advancing education, creating opportunities, strengthening communities, and improving lives. As part of our companywide commitment to address the digital divide, we launched AT&T Connected Learning® to invest in connectivity and technology, digital literacy, and education solutions to help today’s learners succeed inside and outside of the classroom. Since 2008 we’ve committed to programs that help millions of students across all 50 states, Washington D.C. and around the world, particularly those in underserved communities.

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SOURCE Connected Nation

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