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Business-to-Business E-commerce Market Size to Hit US$ 18.57 Trillion by 2026, Exhibiting a CAGR of 18.70% | Global B2B E-commerce Industry Trends, Share, Value, Analysis & Forecast Report by Facts & Factors

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NEW YORK, United States, Sept. 14, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Business-to-Business E-commerce Market By Deployment Model (Intermediary-oriented, Supplier-oriented, Buyer-Oriented), By Application (Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Books & Stationary, Automotive, Others), and By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” in its research database.

“According to the latest research study, the demand of global Business-to-Business E-commerce Market size & share was valued at approximately USD 7.35 trillion in 2020. The market is expected to grow above a CAGR of 18.70% and is anticipated to reach over USD 18.57 trillion by 2026.”

The report analyses the Business-to-Business E-commerce market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Business-to-Business E-commerce market.

Market Overview:

While many of us shop online as consumers, many of us are unaware that the worldwide B2B digital commerce market is worth six times as much as the B2C market. As local and international corporate shoppers flock to the internet in search of speed, convenience, and simple purchase experiences, these figures are expected to rise. This will drive demand for B2B E-commerce platforms by encouraging historically offline B2B sellers to put up an E-commerce site.

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B2B gateways play a critical role in facilitating large-scale and SMEs firms in reaching out to remote locations and have evolved into a global way of doing business. These portals aid in the formation of new commercial partnerships between organizations as well as the maintenance of current ones. Furthermore, B2B E-commerce platforms support companies to cut marketing expenses, improve customer/supplier management, and increase sales engagement.

A B2B transaction occurs when one company sells a set of products or services to another company. Typically, the vendor’s products and services are used by a group or department. On occasion, a single buyer user completes a transaction in support of the company’s business objectives. Furthermore, some B2B transactions entail the usage of products by the entire organization, such as office furniture, computers, and productivity software.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 226+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter’s 5 Forces Analysis
  • Facts and Factors research methodology

Key Insights from Primary Research

  • As per the analysis, the Business-to-Business E-commerce market is likely to grow above a CAGR of around 18.70% between 2021 and 2026.
  • The Business-to-Business E-commerce market size was worth around US$ 7.35 trillion in 2020 and is estimated to hit approximately US$ 18.57 trillion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Smartphones are becoming more common, and internet penetration is expanding, opening up new opportunities for industry growth.
  • Technology will play an increasingly important role in business-to-business transactions as it becomes smarter and more complex.
  • On the basis of region, the North America region will likely overtake the global market.

Market Dynamics:

One of the principal reasons propelling the market’s growth is population increase around the world. Additionally, rising internet penetration and the use of devices such as smartphones, laptops, and tablets to access e-commerce websites are boosting market growth. E-commerce allows businesses to conduct business without having to maintain a physical presence, saving money on infrastructure, communication, and overhead. The market is also being fueled by an increased preference for online shopping, particularly among women, as well as the growing influence of social media platforms on purchasing behaviors. Consumers can enjoy a hassle-free shopping experience while viewing a large range of products at reasonable prices through online retail platforms. In addition, the emergence of private-label and direct-to-consumer business models is boosting the market’s growth prospects. This allows businesses to collect and use consumer data to give customers customized products and experiences.

Brands should focus on optimizing internal procedures and increasing consumer experience, comfort, and ease of use as a result of booming online sales. Technology will play an increasingly important role in business-to-business transactions as it becomes smarter and more complex. Here are a few E-Commerce trends to look out for over the next 5 to 10 years.

B2B E-Commerce accomplishes more than simply allowing businesses to go online and sell their products to a bigger audience. It helps open doors to new markets, boost employee productivity, and encourage existing clients to buy more. B2B brands with E-Commerce skills are also more efficient, demand more from their suppliers, and use actual data to make business decisions that keep them competitive. Merchants can use B2B E-Commerce to automate document processing, agreements, and checkout processes for each customer. This ensures a consistent B2B customer experience while avoiding human errors that could lead to lost business.

The concept of B2B e-commerce allows suppliers and customers to be better managed. When you go digital, you can use business management software. This will offer you information about your consumers’ shopping habits. Anyone can utilize this information to provide consumers with great, more customized purchase behavior. In essence, the idea is a win-win situation for both sides.

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COVID-19 Impact Analysis

The COVID-19 epidemic shifted consumer preferences toward online buying, opening up new opportunities. The B2B e-commerce business outlook has been impacted by a growth in the number of orders, changes in customer behavior, supply chain disruptions, and the closure of physical storefronts.

While retail sales fell in 2020, e-commerce sales grew significantly. Several B2B companies are increasingly concentrating on bringing their customers online.

Competitive Players

The market is marked by fierce competition amongst the leading companies in the B2B e-commerce market. To maintain a competitive position in the market, these companies are focused on mergers and acquisitions as part of their growth strategy. In addition, market players are making significant modifications to their online business strategies to create better customer experiences for buyers and providers.

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Some of the main players in the global Business-to-Business E-commerce market include;

  • Flipkart.com
  • Amazon.com, Inc.
  • ChinaAseanTrade.com
  • DIYTrade.com
  • eFlexfire LEDs
  • Bay Inc.
  • eworldtrade.com
  • IndiaMART InterMESH Ltd.
  • KOMPASS
  • Quill Lincolnshire, Inc.

Browse the full “Business-to-Business E-commerce Market By Deployment Model (Intermediary-oriented, Supplier-oriented, Buyer-Oriented), By Application (Home & Kitchen, Consumer Electronics, Industrial & Science, Healthcare, Clothing, Beauty & Personal Care, Sports Apparels, Books & Stationary, Automotive, Others), and By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/business-to-business-e-commerce-market

Segmentation Analysis

The Business-to-Business E-commerce Market is segmented based on deployment type and application:

As per deployment type (supplier-oriented, buyer-oriented, intermediary-oriented and application (home & kitchen, consumer electronics, industrial & science, healthcare, clothing, beauty & personal care, sports apparel, books & stationary, automotive, others).

Regional Dominance

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North America is projected to Dominate Global Business-to-Business E-commerce Market Growth

North America is expected to grow substantially during the projection timeframe. The existence of major multinationals which including eBay Inc. and Amazon.com Inc., among several others, has established strong B2B marketing and sales channels in the regions. Furthermore, the contagion has prompted a variety of other businesses to embrace an online business strategy to acquire and serve a larger audience. B2B vendors on online marketplaces will benefit from the very same-day delivery and a much more comprehensive customer experience. and Cloud technology advancements and Artificial Intelligence (AI)  will help improve customer experience even further, opening up new opportunities in the e-commerce market.

As technology proliferates, the market will witness a surge over the forecast period. Furthermore, the continuous epidemic has compelled some firms to go online to serve customers all over the world. Based on the industry, geography, and competition, businesses are still looking for suitable internet channels. Run-of-the-mill purchases including basic transactions with clients requiring no value-added services or the purchase being a simple reorder accounted for a substantial share of B2B sales in North America. However, the complexity of B2B suppliers’ products or services works as a substantial impediment to B2B-commerce adoption.

Report Scope

Report Attribute Details
Market Size in 2020 USD 7.35 Trillion
Projected Market Size in 2026 USD 18.57 Trillion
CAGR Growth Rate 18.70%
Base Year 2020
Forecast Years 2021-2026
Key Market Players Flipkart.com, Amazon.com, Inc., ChinaAseanTrade.com, DIYTrade.com, eFlexfire LEDs, Bay Inc., eworldtrade.com, IndiaMART InterMESH Ltd., KOMPASS, Quill Lincolnshire, Inc. and Others
Key Segments By Deployment Type, Application, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The global Business-to-Business E-commerce market is segmented as follows:

By Deployment Type

  • Supplier-oriented
  • Buyer-oriented
  • Intermediary-oriented

By Application

  • Home & Kitchen
  • Consumer Electronics
  • Industrial & Science
  • Healthcare
  • Clothing
  • Beauty & Personal Care
  • Sports Apparels
  • Books & Stationary
  • Automotive
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Key Offerings:

  • Market Size, Trends, & Forecast by Revenue | 2021−2026
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis by Deployment Type, Application, and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Browse Other Related Research Reports from Facts & Factors

About Facts & Factors:

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Artificial Intelligence

Dark Fiber Market Size to Grow USD 7594 Million by 2030 at a CAGR of 9.09% | Valuates Reports

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BANGALORE, India, Oct. 7, 2024 /PRNewswire/ — Dark Fiber Market is Segmented by Type (Single-Mode, Multi-Mode), by Application (Telecom, Oil & Gas, BFSI, Military & Defense, Medical, Railway, Others): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Dark Fiber Market was valued at USD 4475 million in 2023 and is anticipated to reach USD 7594 million by 2030, witnessing a CAGR of 9.09% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Insect Dark Fiber Market:
The dark fiber market is experiencing robust growth due to the increasing demand for high-speed internet, data transfer, and secure communication infrastructure across various industries. Dark fiber refers to unused fiber-optic cables that are available for lease or purchase, allowing enterprises and service providers to establish private networks with dedicated bandwidth. The surge in data consumption, driven by cloud computing, 5G deployment, data centers, and IoT, has intensified the need for scalable and high-capacity networks, which dark fiber can provide. Additionally, sectors like telecom, IT, and healthcare are adopting dark fiber solutions to ensure better connectivity, network control, and security.
Unlock Insights: View Full Report Now! https://reports.valuates.com/market-reports/QYRE-Auto-8O16959/global-dark-fiber
TRENDS INFLUENCING THE GROWTH OF THE DARK FIBER MARKET
Single-mode fiber plays a crucial role in driving the growth of the dark fiber market due to its ability to support long-distance communication with minimal signal degradation. This fiber type offers high bandwidth and superior performance, making it ideal for telecommunication companies and data centers that require efficient transmission over extensive networks. The rapid increase in data consumption, driven by emerging technologies like 5G, cloud computing, and IoT, has intensified the demand for single-mode fiber. Its cost-effectiveness for long-haul applications further enhances its adoption, as it allows for higher transmission speeds and capacities over longer distances, making it a preferred choice for large-scale network expansion projects.
Multi-mode fiber is a key driver in the dark fiber market due to its efficiency in short-distance data transmission. Multi-mode fibers are particularly effective for data centers and intra-building communication networks where the focus is on high-speed connections over shorter distances. The demand for electric dark fiber, especially in urban infrastructure and renewable energy projects, has surged as these sectors require reliable, high-capacity data transfer solutions. Multi-mode fiber’s cost-effective installation and maintenance, along with its ability to handle high bandwidth over shorter distances, contribute significantly to the market’s growth, providing a reliable infrastructure for electric utilities and smart grid projects.
Telecom is one of the most significant sectors driving the growth of the dark fiber market due to the increasing demand for high-speed internet, large-scale network deployments, and seamless communication infrastructure. The rapid expansion of 5G networks, the need for backhaul connections, and the proliferation of data-intensive applications have all contributed to the growing adoption of dark fiber in the telecom industry. Telecom providers are leveraging dark fiber to reduce latency, enhance scalability, and increase network efficiency, which are critical for delivering enhanced customer experiences and supporting emerging digital services. As telecom networks continue to expand globally, the demand for dark fiber infrastructure is expected to rise.
One of the primary factors driving the growth of the dark fiber market is the exponential surge in global data consumption. With the widespread use of smartphones, connected devices, and the internet, data traffic has increased significantly. Streaming services, online gaming, video conferencing, and cloud computing are all fueling this growth. Dark fiber infrastructure is essential to accommodate this massive data flow, offering the bandwidth and capacity required to support such intensive usage. As businesses and consumers continue to generate more data, service providers rely on dark fiber networks to ensure faster, more reliable connections and to meet the growing demands for data transmission.
The growing adoption of cloud services by enterprises is another critical factor contributing to the growth of the dark fiber market. As businesses migrate their operations and data storage to the cloud, there is an increased need for high-speed, low-latency networks that can handle large volumes of data transmission. Dark fiber provides the necessary infrastructure for private, scalable, and secure network connectivity to the cloud. Enterprises across various industries, including healthcare, finance, and retail, are leveraging dark fiber to ensure seamless access to cloud applications, thus driving market growth. The continued shift toward cloud computing will likely increase demand for dark fiber solutions.
The rapid expansion of data centers worldwide is significantly boosting the dark fiber market. Data centers serve as critical hubs for storing and managing vast amounts of information. To ensure smooth operation, data centers require high-capacity, reliable, and secure fiber-optic networks. Dark fiber networks provide data centers with dedicated, high-performance connectivity, allowing them to scale their operations efficiently. The growth of edge computing and the need for real-time data processing have further intensified the demand for dark fiber connections in data centers. As the number of data centers grows, particularly in emerging markets, the need for dark fiber infrastructure will continue to rise.
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DARK FIBER MARKET SHARE ANALYSISThe dark fiber market shows varying growth trends across different regions, driven by factors like technological advancements and infrastructure investments. North America leads the market due to the rapid expansion of 5G networks, cloud computing adoption, and increasing data center construction. Europe follows closely, with countries investing in high-speed connectivity for smart cities and telecommunications. The Asia-Pacific region is witnessing significant growth, particularly in China, Japan, and India, driven by increased demand for internet services, telecom expansion, and government initiatives supporting digital infrastructure. Meanwhile, Latin America and the Middle East are also emerging as potential markets, propelled by growing data consumption and the need for improved connectivity in underdeveloped areas.
Key Players:
GTT CommunicationsUFINETVikram GroupDEPLUnite Private NetworksSterlite PowerColt Technology ServicesConsolidated CommunicationsCrown CastleNexGen NetworksSorrento NetworksFirstLightMicroscanWindstream Intellectual Property ServicesPurchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-8O16959/global-dark-fiber/1
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Artificial Intelligence

AI Governance Market worth $5,776.0 million by 2029- Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The AI Governance Market is anticipated to grow from USD 890.6 million in 2024 to USD 5,776.0 million by the year 2029 at a robust CAGR of 45.3% over the forecast period, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on “AI Governance Market”
350 – Tables 50 – Figures450 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=176187291
Scope of the Report
Report Metrics
Details
Market size available for years
2019–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
USD (Million)
Segments covered
Product Type, Functionality, End User, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), Salesforce (US), SAP (Germany), AWS (US), SAS Institute (US), FICO (US), Accenture (Ireland), Qlik (US), H2O.AI (US), Alteryx (US), DataRobot (UK), Dataiku (US), Domino Data Lab (US), SparkCognition (US), Collibra (US), OneTrust (US), Quest Software (US), Fiddler AI (US), Untangle AI (Singapore), 2021.AI (Denmark), Howso (US), Monitaur (US), Mind Foundry (UK), Credo AI (US), Holistic AI (UK), Fairly AI (Canada), Enzai (UK), ValidMind (US), FairNow (US), Mona Labs (US), Arthur AI (US), Trustible (US), Atlan (Singapore), ModelOp (US), Neptune AI (Poland), Patronus AI (US), and Datatron (US).
Regulatory pressure and demands for compliance are driving the AI Governance Market as governments around the world roll out tougher regulations related to AI. For example, the European Union’s AI Act had subjected risk assessments and compliance audits to AI systems, particularly in high-risk sectors like health and finance, thereby increasing demand for the governance framework. Organizations also run the risk of facing reputational damages linked with prejudiced or harmful AI output. A notable example is the controversy caused by OpenAI GPT models, which flagged misinformation and biased data concerns, making businesses adopt robust AI guard rails. On similar note, Amazon’s discontinuation of its biased AI recruiting tool demonstrate the reputational and financial risks of ungoverned AI. Another major reason for market expansion is the uptick in AI adoption across highly regulated industries, especially BFSI and healthcare. Industries operating in these sectors are under immense regulatory pressure to comply with dynamic regulations, leading to increased affinity towards AI governance tools.
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By product type, data governance tools will account for largest market share in 2024 owing to robust data provenance and lineage capabilities.
Data governance tools are poised to account for the largest market share in the AI Governance Market, as these tools help an organization track data quality, provenance, and bias within AI development training data. This is important in order to prevent bias results being generated from AI systems. For example, data governance tools may apply profiling techniques to the dataset in order to ensure fairness, and also put in place data lineage to indicate potential problems with data sourcing. As an increasing number of AI regulations call for documentation, tracking and record keeping especially on the data that feeds AI systems, data governance has become paramount. Data governance also assists enterprises in compliance with regulations through robust AI data traceability and accuracy. Additionally, the metadata repository feature in data governance tools offer centralized catalogs and controls of metadata for data visibility across an organization to ensure trustworthy and responsible AI implementation.
The demand for ethical AI use across ML platforms and generative AI models will push software & technology providers as the fastest growing end user segment during the forecast period
Software & technology providers are poised to become the fastest growing end user segment in the AI Governance Market, buoyed by rapid adoption of AI governance tools to make their AI systems trustworthy and ethical. The rising regulatory scrutiny and the expanding reach of data privacy laws like GDPR and CCPA has also accelerated governance frameworks being adopted across such players. For instance, Microsoft has created an internal AI ethics working group to implement strong ethical guardrails across its AI offerings. On a similar note, Google has formed AI governance framework for developing fair, explainable, and ethical AI solutions. There are also expectations from stakeholders who demand that technology companies create AI responsibly. With AI regulations likely to disrupt every software vendor, incorporating ethical norms and regulation is now of extraordinary importance for technology businesses to maintain the brand’s trust and growth.
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North America is set to hold the largest market share in 2024, fueled by a strong regulatory environment and increasing investments in responsible AI deployment
North America has emerged as the largest regional market for AI government adoption. Federal funding on AI governance in North America crossed USD 1 billion in 2023, indicating a growing interest in responsible AI research. Industries with strict regulations such as healthcare and banking are leading in the implementation of governance, with 45% of healthcare providers mentioning regulatory compliance as a key business requirement. Businesses are forced to implement governance frameworks due to rising regulatory requirements like NIST’s AI Risk Management Framework and the California Consumer Privacy Act (CCPA). More than half of businesses expect more stringent AI rules in the next five years, with 62% citing data privacy compliance as a main factor for implementing governance. Also important is consumer confidence, as 78% of American consumers favor brands that utilize ethical AI. Businesses such as Google and Microsoft are implementing governance to guarantee transparency and establish trust. Additionally, organizations are prioritizing fairness in their AI systems and have turned to tools like IBM’s AI Fairness 360 to address the need to mitigate AI bias, with 56% of businesses doing so. Moreover, financial institutions are particularly focused on risk management, giving priority to governance for addressing AI-related risks.
Top Key Companies in AI Governance Market:
The major players in the AI Governance Market include Microsoft (US), IBM (US), SAS Institute (US), DataRobot (UK), and Dataiku (US), along with SMEs and startups such as Fiddler AI (US), 2021.AI (Denmark), Monitaur (US), Credo AI (US), and Fairly AI (Canada).
Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
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MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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Artificial Intelligence

Access Control as a Service (ACaaS) Market worth $3.06 billion by 2029 – Exclusive Report by MarketsandMarkets™

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access-control-as-a-service-(acaas)-market-worth-$3.06-billion-by-2029-–-exclusive-report-by-marketsandmarkets™

DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ — The global access control as a service market is expected to be valued at USD 1.34 billion in 2024 and is projected to reach USD 3.06 billion by 2029; it is expected to grow at a CAGR of 17.9% from 2024 to 2029 according to a new report by MarketsandMarkets™. Accelerated urbanization in emerging markets is fueling the demand for advanced access control solutions. Growing adoption of cloud-based Access Control as a Service (ACaaS) is transforming security management systems. Increasing integration of access control systems with employee management and HR platforms is enhancing operational efficiency in the access control as a service market. Increasing shift toward subscription-based business models is fostering recurring revenue streams for security service providers. Growing demand to manage global security operations from centralized locations is pushing the adoption of unified security platforms in the access control as a service market.

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Browse in-depth TOC on “Access Control as a Service (ACaaS) Market” 162 – Tables64 – Figures226 – Pages
Access Control as a Service (ACaaS) Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 1.34 billion
Estimated Value by 2029
$ 3.06 billion
Growth Rate
Poised to grow at a CAGR of 17.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Service Type, Cloud Deployment Model, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Unauthorized Access and Data Breach
Key Market Opportunities
Unauthorized Access and Data Breach
Key Market Drivers
Increased adoption of IoT-based security systems and cloud computing platforms
Commercial vertical to hold the highest market share during the forecast period.
Commercial vertical will account for the largest market share in the ACaaS market during the forecast period. This can be attributed to the increasing need for secure access management solutions across commercial buildings, offices, and retail spaces. Scalability, cost-effectiveness, and even remote access management abilities are making cloud-based ACaaS increasingly attractive within this segment. With increasing urbanization and infrastructure development, coupled with the trend of smart buildings, demand for advanced security systems is rising in the commercial segment, which is further basing its strength in the ACaaS market.
By Service Type, Hybrid segment is projected to grow at a high CAGR of Acalas industry during the forecast period.
A hybrid access control service may be marked as a combination of both hosted and managed access control. In this type of access control, a certain part of the access control system is handled by the end user while the rest of the function is outsourced to a third-party vendor. In this model, permissions are not directly associated with the attributes or the roles. In dynamic role assignment, roles are assigned to users based on the attributes provided by the user, which are then adopted for authentication purposes. Once the roles are assigned, authorization starts whereby the user is granted access based on the assigned roles. The hybrid access control service will act as a catalyst in driving better threat visibility, rapid and effective attack response, minimizing cyber security risks, and being compliant with the latest regulations and standards.
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Asia Pacific will account for the highest CAGR during the forecast period.
In Asia Pacific, China is amongst the largest countries in the world and one of the largest manufacturers and producers of industrial goods. Agaas has grown and developed immensely in the recent years as, to address margin-related issues that Chinese suppliers have been causing, lately manufacturers are adopting cloud-based solutions. The large-scale industrialization of the country has given birth to the growing need for security systems. Thirdly, consistent R &D expense resulted in the innovation of highly sophisticated systems that can meet the diversified user needs. In government sectors, access control system had been employed to raise security measures and take instantaneous action against looming threats. AcaaS – The software and data are retained at vast data centres instead of being retained locally on on-premises servers. Hardware systems remain the same, similar to those in an access control system. Hence, Acaas save the operational costs of institutions considerably with no compromise on the standards of security. In residential areas too, the demand for Acaas is tremendous, thanks to the ever-growing requirement of securing personal properties.
Key Players
Key companies operating in the ACaaS companies are Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Thales (France), ASSA ABLOY Group (Sweden), dormakaba Group (Switzerland), Identiv, Inc. (US), Kastle Systems (US), AMAG (US), Brivo Systems, LLC. (US), and Cloudastructure Inc. (US) among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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Access Control Market by Offering (Hardware-Card-based, Biometric, & Multi-technology Readers, Electronics Locks, Controllers; Software; Services), ACaaS (Hosted, Managed, Hybrid), Vertical and Region – Global Forecast to 2029
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