Over 20% of Visitor Management System Sales to be concentrated in Banks and Financial Institutions: New Study

Feb 09,2021 | Technology

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 Market

A recent market study published by Future Market Insights (FMI) on the visitor management ...

Visitor Management System Market

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.

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.

About Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.