Visitor Management System (VMS) Market Analysis

Visitor Management System Market Analysis

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The cloud segment held over 60% of the visitor management system market share in 2022, due to providing organizations with accessibility, scalability, and cost-efficiency. With a cloud-based visitor management system, users can easily access the system from any location, thereby allowing greater flexibility. The scalability of cloud solutions accommodates varying visitor volumes and business sizes.
 

Additionally, the pay-as-you-go model reduces initial costs, making it more accessible. Furthermore, cloud visitor management systems offer rapid deployment, automatic updates, robust security measures, and seamless integration with other cloud services, providing a compelling solution for organizations seeking an efficient & future-ready visitor management solution.
 

The BFSI segment accounted for 23% of the visitor management system market share in 2022. Visitor management systems play a pivotal role in risk mitigation in the BFSI sector. By meticulously tracking and monitoring visitors, visitor management systems identify potential security threats and suspicious activities in real time. This proactive approach enables timely intervention, reducing the likelihood of security breaches, fraud, or unauthorized access to critical financial data and infrastructure.
 

Furthermore, visitor management systems create comprehensive visitor logs and access records, aiding in post-incident investigations & compliance reporting, which are vital for maintaining regulatory adherence and minimizing legal liabilities in the highly regulated BFSI industry.
 

North America visitor management system market recorded more than 36% of revenue share in 2022. The surging demand to mitigate school threats in the U.S. is driving the market. Heightened concerns over student safety and unauthorized access have led educational institutions to invest in VMS solutions that enhance security.
 

For instance, in June 2023, in response to the increased occurrence of unauthorized access and rising concerns over school safety nationwide, Wake County Public Schools introduced a new visitor management system. District officials unveiled the guidelines and protocols related to the implementation of this system during a meeting of the school board policy committee. This initiative aims to enhance security measures considering the growing threat of mass shootings and proactively address safety issues within schools across the country. The urgent need to address security challenges has spurred the adoption of visitor management system technology, propelling VMS market expansion.