Future Market Insights (FMI) has projected the global visitor management system market to reach US$ 1.20 Bn by 2021. Adoption of visitor management system is increasing due to the rising demand for paperless administration process in the organizations. A visitor management software eliminates the use of log book or register facilitating automatic check-in process registering the information. The use of digital badges replaces the usage of printed or RFID cards for using on-premises and allows permission for internal access.
Visitor management system reduces expenses of dedicated human resource on front desk for maintaining visitor information and also reduces the expenses of buying the stationery. The adoption of visitor management is also increasing as the system can authenticate the visitor by issuing unique visitor ID and digital badges.
Banks & financial institutions segment is estimated to register a CAGR of 18.2% during the forecast period as the banks and financial institutions are customer centric and have heavy visitor footfalls on the bank premises on daily-basis. To conveniently manage and organize the visitor arrangements, the demand for visitor management solutions is increasing.
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Key Takeaways: Visitor Management System Market
The global visitor management system market is estimated to register a CAGR of 15.6% during the forecast period of 2021-2031
The U.S. will remain a highly lucrative market for visitor management system, accounting for 85% of the market in North America
The U.K. will exhibit 17.3% Y-o-Y growth in 2021, emerging as a key market for visitor management system
Germany and France will remain other lucrative pockets within Europe
Japan and South Korea will emerge as bright spots for market players in East Asia
“Some of the key players have begun offering facial recognition technology in visitor management software to provide accurate verification and identification of visitors. Also these players are focusing on launching innovative services for strengthening their market position and expanding the customer base,” says FMI Analyst.
COVID-19 Impact to be Positive for Visitor Management System Market
Businesses are facing the reality and adjusting the business model to account for the effects of COVID-19 pandemic. For ensuring business continuity, organizations are adopting advanced technologies and various solutions. They also are increasingly adopting visitor management software. Some of the businesses now need to allow other visitors and contractors into their premises while being fully accountable for safety of their employees, visitors and contractors.
Visitor management software helps businesses to ensure safety and also alerts for possible threats. It has been designed help organizations take on full accountability to keep their employees, premises, and intellectual property safe.
FMI has projected the visitor management system market is estimated to grow around 13% to 15% Y-o-Y from 2019 to 2021.
Mobile Technology-based Cost-effective Visitor Management System for Smart Offices
Visitor management system provides a cost-effective technological solution for smart offices by using capabilities of mobile technology along with the low cost WiFi modules. This is a cost-effective implementation of the system is used for managing visitors in an office environment. The growing need for increased security and ensuring health & safety is fueling the demand for mobile technology-based visitor management system. This system is also used to sign-in for visitors and staff using an iPad, web or mobile to send SMS, & email notification, and record visitor information.
Who is Winning?
Some of the key players operating in the visitor management system market are HID Global, Greetly, piLOBI, Ezy Signin, SwipedOn, Envoy, Proxyclick, Vizitor Inc, Traction Guest among others.
For instance, in March 2020, HID Global launched HID Signo to simplify the deployment and management of advanced security requirements across organizations.
More Valuable Insights on Visitor Management System Market
FMI’s report on the Visitor Management System market is segmented into four major sections such as solution (visitor management software, services), platform (web-based, mobile app), end user (gated communities, healthcare facilities, corporate offices, hospitality, academic institutions, real estate properties, and others) and region(North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the visitor management system market.
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Key questions answered in the report
How will Visitor Management System Market Expand until 2031?
FMI projects the global visitor management system market to register a CAGR of 15.6% through 2021-2031 assessment period.The market is driven by the growing need to ensure regulatory compliances with regards to visitors.
Which Solution of Visitor Management System is highly Sought-after?
The software segment is expected to lead the market for visitor management system through 2021-2031. Benefits such as touchless registration, photo capture, quick check-in, and others offered by visitor management software will enable its increasing uptake.
Who is the Leading End User of Visitor Management System?
The demand from banks and financial institutions is forecast to significantly increase in the coming years. Customer centric characteristic of banks and financial institutions, which is a result of heavy visitor footfall these institutions witness every day has been fuelling the demand for visitor management system.
Who are the Leading Players in Visitor Management System market?
Prominent players operating in the global visitor management system landscape include HID Global, Traction Guest, Envoy, piLOBI, Qbasis Pte, The Receptionist, among others