Visitor Management System Market worth $3.0 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 28, 2023 /PRNewswire/ -- The Visitor Management System (VMS) market's future will witness integration with cutting-edge technologies like facial recognition and AI, mobile app convenience, health-focused features, and stricter security measures. User-friendly interfaces, widespread adoption, and sustainability will be crucial, while cloud solutions, customisation, and IoT connectivity will rise. The landscape will change as a result of connectivity, AI threat detection, and regulatory compliance.

The Visitor Management System Market is estimated to grow from USD 1.6 billion in 2023 to USD 3.0 billion by 2028, at a CAGR of 13.7% during the forecast period, according to a new report by MarketsandMarkets™. A Visitor Management System (VMS) is a digital solution designed to optimize and secure the entire visitor registration and tracking process within a facility. By utilizing visitor management software and hardware, businesses can efficiently manage the check-in process, ensure effective access control, issue digital badges or passes promptly, and maintain detailed records of all visitor activities. This system aims to create a seamless and pleasant visitor experience while enhancing security measures. With the ability to self-register or pre-register visitors, the VMS streamlines the check-in process, reducing wait times and improving overall efficiency.

Browse in-depth TOC on "Visitor Management System Market"
314 - Tables
52 - Figures
297 - Pages

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Scope of the Report

Services segment to account for higher CAGR during the forecast period

Visitor management system services encompass a range of offerings designed to support organizations in effectively implementing, customizing, and maintaining their visitor management solutions. These services extend beyond the software itself to provide tailored assistance and expertise throughout the entire lifecycle of the system. Service providers typically offer consultancy to understand an organization's specific needs and security requirements, allowing for a customized solution that aligns with their operational goals.

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Cloud segment is expected to hold the largest market size for the year 2023

A cloud-based visitor management system operates through software hosted on remote servers rather than locally on individual computers. These systems offer the advantage of accessibility from any device with an internet connection, catering to the needs of remote and mobile workers. Visitor management system software and data are securely stored in the cloud, enabling users to access them from virtually anywhere. Cloud-hosted systems offer quick deployment and integration with third-party platforms, essential features for an effective visitor management solution. By opting for a cloud-based Software as a Service (SaaS) solution, businesses can adopt a best-of-breed approach. Businesses, in turn, benefit from scalability, flexibility, and real-time insights into visitor activities. This shift to the cloud empowers organizations to modernize their visitor management process, providing a smoother, more accessible, and efficient experience for both visitors and administrators.

The healthcare and life sciences vertical is projected to grow at the highest CAGR during the forecast period

The adoption of visitor management system has gained prominence as a strategic solution to address security, regulatory compliance, and patient privacy concerns in healthcare and life sciences industry. These systems play a vital role in managing visitor access, enhancing operational efficiency, and ensuring a safe environment within medical facilities, clinics, research laboratories, and other healthcare settings. visitor management system in healthcare facilitates the seamless registration, verification, and tracking of visitors, patients, vendors, and even staff. The COVID-19 pandemic has further highlighted the importance of visitor management system in healthcare. Hospitals need to carefully manage visitor flow, screen for symptoms, and enforce social distancing. visitor management system offer a technology-driven solution to help healthcare facilities adapt to these new challenges while maintaining patient safety.

Top Key Companies in Visitor Management System Market:

The report profiles key players such as Honeywell (US), Pitney Bowes (US), SmartSpace Software PLC (US), Eptura (US) and Envoy (US).

Recent Developments:

• In May 2023, Eden Software Solutions shared an overview of its latest product updates, including expanded visitor check-in times where Visitors can check in anytime on the day of their visit rather than being limited to 30 minutes before their invited time and SMS notifications for hosts.
• In April 2023, SmartSpace Software Plc announced the launch of SwipedOn's SaaS visitor management platform in Taiwan, China, and Germany. The launch of a fully localized German version marks the first full market release in Europe.
• In March 2023, Building Intelligence acquired Veristream, a visitor management system provider. This strategic move brings together the capabilities of both companies' platforms, offering enhanced value and benefits to their partners, clients, and future stakeholders.
• In December 2022, Sine announced the release of its newest feature, Lobbies. It is an addition to the Sine platform that facilitates multi-tenant visitor management solutions. This new feature enables easy customization of Sine configurations to meet the unique requirements of various tenants while ensuring a seamless and user-friendly check-in experience for all end users.
• In January 2022, Condeco, a leading workspace management suite provider, recently announced the strategic acquisition of Proxyclick, a visitor management platform. This acquisition aims to fulfill the customers' demands for connecting people in the workplace while adhering to emerging legal and compliance requirements for employees and visitors before entering the premises.

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Visitor Management System Market Advantages:

• Visitor Management Systems (VMSs) offer a organized and regulated approach to handle visitors, which greatly boosts security by guaranteeing that authorized individuals can enter the premises. This aspect holds significance in settings, like corporate offices, government facilities, healthcare institutions and manufacturing plants.
• Organisations can manage and keep an eye on who enters their premises thanks to VMSs. To ensure that visitors only access areas pertinent to their visit's goal, they can adopt various degrees of access permissions. This stops unauthorised people from straying into forbidden areas.
• Security personnel can follow visitor movements inside the facility with the help of real-time monitoring technologies that are frequently included in modern VMSs. Due to the real-time visibility, any unexpected or suspicious activity can be quickly detected and handled.
• Important information about visitor traffic, entry and exit timings, the reason for a visit, and other topics is gathered by VMSs. Reporting, analysis, and decision-making can all be done using this information. For instance, businesses can keep tabs on the busiest times of day or famous tourist destinations.
• VMSs can assist in ensuring that visitors abide by rules and processes in sectors with stringent compliance standards, such as healthcare and banking. The danger of non-compliance can be decreased by the system's ability to confirm visitor identities and gather required documentation.
• Numerous VMSs enable businesses to pre-register visitors. By giving the system the ability to examine visitors' backgrounds prior to their arrival, this speeds up check-in and improves security.
• VMSs have the ability to automatically notify hosts when guests arrive. They can also send out alerts in the event of attempted unauthorised access or in an emergency, assisting security staff in taking the proper action.
• It can take a lot of time and be prone to error to use traditional manual visitor logbooks. The administrative workload and risk of erroneous information are decreased by the automation of data entry and provision of digital records by VMSs.

Report Objectives

• To describe and forecast the global Visitor Management System Market by offering (software – [type, deployment mode], services), application, end user, and region
• To forecast the market size of five main regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
• To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
• To provide detailed information regarding major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the major players
• To profile the key players of the Visitor Management System Market and comprehensively analyze their market shares and core competencies
• To track and analyze competitive developments, such as mergers and acquisitions, new product developments, and partnerships and collaborations, in the market

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