Home > Media & Technology > Information Technology > IT Software > Visitor Management System (VMS) Market

Visitor Management System (VMS) Market Trends

Report ID: GMI6675
Published Date: Sep 2023
Report Format: PDF

Download Free Sample

Visitor Management System Market Trends

Robotic security solutions can enhance the visitor management system industry growth by offering advanced features such as autonomous visitor screening and surveillance. For instance, in July 2023, Guardforce AI Co. Ltd. collaborated with Concorde Security Pte Ltd. to introduce an innovative robotic security solution in the Singapore market. Concorde, a prominent security provider based in Singapore, delivers cutting-edge & budget-friendly security solutions tailored to office buildings, residential complexes, schools, industrial logistic parks, and hotels. This synergy encourages organizations to adopt comprehensive visitor management system solutions, thereby driving market demand.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of visitor management system (VMS) reached USD 1.4 billion in 2022 and is set to witness over 12% CAGR from 2023 to 2032, due to the rising concerns over fraud and unauthorized access.

The cloud deployment model segment recorded over 60% of the market share in 2022, driven by benefits, such as rapid deployment, automatic updates, robust security measures, and seamless integration with other cloud services.

The BFSI end user segment held over 23% of the market share in 2022, owing to the rising need to identify potential security threats and suspicious activities in real time.

Few of the major industry participants are Honeywell International Inc., HID Global, iLobby, Envoy, Pitney Bowes, Veristream, and MRI Software LLC.