Security Compliance Requirements to Drive Growth in the Physical Identity and Access Management Sector
Increasingly strict government regulations and compliance related to security, as well as the increasing demand from organizations for diverse security systems to streamline security management of an entire organization or business will be some of the main growth drivers in the physical identity and access management sector, a recent market research report has been able to suggest.
The “Physical Identity and Access Management Market by Component (Software and Services), Organization Size (Large organization and Small & Medium Organization), Industry Vertical (IT & Telecom, BFSI, Retail, Healthcare, Government & Defense, and Others), and by Region, Global Forecast, 2018 to 2025” report forecasts that his market sector will reach over USD 1 billion by 2025, at a CAGR of over 13%.
Furthermore, the increased adoption of physical access control systems is anticipated to create lucrative opportunities for the global physical identity and access management market in upcoming years.
Based on industry vertical, the market is bifurcated into IT & telecom, BFSI, retail, healthcare, government & defense, and others. In 2019, the BFSI segment captured the highest market revenue and is anticipated to dominate the physical identity and access management market throughout the forecast period.
The dominance of this segment is mainly attributed to increasing rigorous authorization and authentication procedures across the financial sector. On the contrary, the healthcare industry is anticipated to gather the highest growth rate throughout the forecast period.
Access Control UK – expert suppliers of end-to-end Physical Identity and Access Management solutions
Access Control UK employs a variety of access control technologies in order to create advanced solutions, enable users to exert solid, reliable and accurate control over the access to specific premises or zones.
If you’d like to find out more about the range of solutions supplied by Access Control UK, both in terms of hardware (smart card readers, biometric time and attendance readers, turnstiles, etc.) and software (access rights management software solutions, etc.), just contact us, we’ll be more than happy to answer any queries you might have.