Visitor Management System Market to reach US$ 4.4 Bn by 2031

The demand for visitor management system market is projected to grow due to the rising need to track visitor actions in various organizations. Visitor management solutions offer several benefits such as better traceability, replacing paper logs with live application, and they simplify visitor registration, reporting, and tracking. Future Market Insights in a new study has forecast the market for visitor management to reach US$ 4.4 Bn by 2031.

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for visitor management system. The report tracks the global sales of visitor management system in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the visitor management system market in particular.

FMI states in its recent study on the visitor management system market that the market will record a noteworthy CAGR of 15.6% through 2031. The industry is expected to be affected by strict government legislation and strategies implemented by associations to effectively manage tourist data information.

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Visitor management system Market – Important Highlights

The software industry is expected to dominate the visitor management system business throughout 2021-2031.
According to end-users, Demand from banks and financial institutions is expected to grow considerably in the coming years.
Based on the platform, the mobile app market is expected to record high growth relative to the web-based platform.
North America led by the US is estimated to hold a major market share because it is driven by the presence of several leading visitor management software players.

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Visitor management system Market – Drivers

As security protocols grow stricter across organizations, the need for an AI-based visitor management system is growing, which is generating growth prospects.
The industry is expected to be influenced by strict government legislation and strategies implemented by associations to effectively manage tourist data information.
The adoption of Visitor Management Software across various Hosting Events is driving the growth of the market.
In sectors such as telecoms, BFSI, and IT, the need for compliance monitoring and fraud prevention is boosting the adoption of visitor management systems.

Visitor management system Market – Restraints

The need for multiple locations to deploy a standardized visitor management scheme is one of the main challenges hindering widespread implementation.
The framework has many problems, such as deployment, time-zone, a database of staff, visitor policies, visualization of various locations, and updates in real-time.

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COVID-19 Impact on Visitor management system Market

Amid COVID-19, visitor management system demand is growing. Visitor control programs have allowed organizations to become touchless, a crucial strategy embraced to contain the transmission of the virus among individuals around the globe. The use of the visitor management system has allowed organizations to keep up to date on fitness, travel, and future exposure to COVID. The COVID-19 pandemic has had a positive influence on the demand for the visitor management system and provided possibilities for suppliers.

Competitive Landscape

The visitor management system market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. For example, Envoy is a company that provides a wide variety of solutions, including authentication, touchless sign-in, enforcement, access control, solution for corporate visitor management, and others. A few of the key companies functioning in the global market include HID Global, Greetly, piLOBI, The Receptionist, Ezy Sign in, SwipedOn, Traction Guest, Envoy, Proxyclick

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About 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, the global financial capital, and has delivery centers in the 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.

This release was published on openPR.