acre security unveiled a comprehensive report on the latest trends in visitor management systems. The research, conducted in collaboration with Censuswide, highlights significant insights into the adoption of visitor management solutions in mission-critical  industries, such as financial services and pharmaceuticals.

Valued at $1.43 billion in 2023, the global visitor management system market is reportedly anticipated to grow substantially, reaching $3.47 billion by 2032. There are diverse and converging trends driving this market growth, reflecting the evolving needs and challenges of various industries as they look to close the gaps on security processes, according to the report.

The report states that growth in visitor management deployments is driven by a preference for customizable solutions that enable companies to tailor systems to specific needs and enhance greater control over security efforts. Additionally, there's a greater focus on streamlining check-in processes for efficiency and improved visitor experience. Amidst increasing data breaches, heightened emphasis is also placed on data privacy and safety across industries.

Diverse Sector Adoption: The report reveals a stark contrast in technology adoption between the pharmaceutical and finance sectors. While 66 percent of pharmaceutical companies recognize the importance of visitor management systems, only 23 percent use cloud-based. In comparison, 38 percent of financial service companies have adopted cloud-based visitor management solutions, indicating a disparity in technology adoption.

Challenges and Perceptions: More than one-third of pharmaceutical companies express uncertainty about cloud-based visitor management, citing concerns over impersonality, high costs, and complexity. This reflects broader industry challenges in understanding the value and features of these systems.

Standardization and Customization Needs: There is a growing trend towards standardization, especially in larger organizations managing numerous visitors across multiple locations. Of these organizations, 44 percent prioritize standardization in their cloud-based visitor management platforms.

Sector-Specific Priorities: In the financial services sector, 41 percent of banking firms equally prioritize compliance and enhancing the visitor experience as their top concerns. Insurance companies, on the other hand, place a higher emphasis on enhancing the visitor experience and ensuring standardization across their operations.

“This research highlights the crucial balance organizations require to maintain the balance between regulatory requirements and boosting operational efficiency,” said  Don Joos, CEO, acre security. “Cloud-based visitor management systems are pivotal in improving visitor experiences and ensuring regulatory compliance. But despite these advantages, a significant knowledge gap exists regarding their full potential. As industry leaders, we are dedicated to closing this gap, equipping organizations with the necessary insights and tools to fully utilize these innovative systems.”

Access the report here.