The visitor management system landscape in Korea is expected to expand at a CAGR of 17.4% through 2033. With a valuation of USD 47.6 million in 2023, the visitor management system industry in Korea is poised to grow significantly. The industry in Korea is predicted to generate USD 235.4 million by 2033.
Over the recent years, visitor management systems (VMS) have undergone significant evolution, driven by advancements in technology, evolving security requirements, and a heightened focus on elevating the visitor experience.
The integration of Internet of Things (IoT) devices has played a crucial role in enhancing security within VMS. Through the use of sensors, visitors are promptly detected upon entering specific areas, which then triggers alerts or notifications.
Key Highlights to Understand Emerging and Fast-growing Opportunities
| Attributes | Details |
|---|---|
| Industry size of Korea in 2023 | USD 47.6 million |
| Expected Industry Size of Korea by 2033 | USD 235.4 million |
| Forecasted CAGR between 2023 to 2033 | 17.4% |
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With the adoption of digital transformation, business operations are increasingly optimized through automated and digital methods. Compliance with regulatory requirements with favorable government support. Access to visitor records at various touchpoints is becoming increasingly important.
Innovations in technology and solutions are being implemented by organizations to ensure business continuity. Systems for managing visitors help organizations stay safe and alert them of dangers. Developing a safety management system is likely to assist a corporation in managing its employees, facilities, and intellectual property in a safe and secure manner.
The visitor management system enhances security by keeping a record of visitors' entry and exit. Providing visitor identification and verification can deter unauthorized individuals from accessing the facility.
Due to regulatory requirements and compliance standards, visitor management systems are anticipated to become mandatory for certain industries or government facilities in the upcoming years. These automated registration and badge printing processes are expected to save time for both guests and staff.
Demand for enhanced security, along with increased automation and streamlined check-in processes, is expected to drive the demand. Moreover, the demand for internet and technology is expected to rise in the future.
As concerns regarding real-time monitoring increase and the importance of notifications and alerts grows, the industry is expected to face more thorough examination.
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Visitor registration and tracking can be streamlined and enhanced through web-based visitor management systems. For a long time, these systems have been in demand for their convenience, security, and compliance.
With a 51.5% industry share, web-based visitor management systems are likely to dominate Korea's visitor management business in 2023.
Check-in processes that are smooth and efficient contribute to the overall visitor experience at the establishment. This technology allows hosts to receive instant notifications, visitor badges, and digital NDA signatures.
Visitors can be tracked by these systems, making them useful when conducting investigations, audits, or simply keeping track of the number of visitors. Administrators can monitor and manage visitors remotely through web-based systems. In order to enhance communication and hospitality, hosts can receive notifications when their guests arrive.
| Korea Visitor Management System Industry Based on Platform | Web Based (Desktop App) |
|---|---|
| Industry Share in 2023 | 51.5% |
The increased emphasis on physical and data security has led to a need to monitor visitors better. A revenue share of 53.8% is expected for the visitor management software segment in 2023.
Traditional sign-in sheets or manual processes can be replaced with visitor management platforms, offering more security and efficiency. Incorporating these platforms speed up the check-in process for visitors and improves the efficiency of administration for staff. High-traffic areas significantly benefit from improved efficiency.
A visitor management platform provides valuable analytics and data about visitors. Businesses can use these data to understand visitor patterns, allocate resources more efficiently, and enhance the visitor experience.
| Korea Visitor Management System Industry Based on Solution | Visitor Management Software |
|---|---|
| Industry Share in 2023 | 53.8% |
Well-known companies develop Korea visitor management systems. In order to help companies grow, they develop technologies and digital solutions. Startups often develop new solutions or invest in innovative technologies to compete with established firms. Startups provide unique opportunities for discovering niche markets, reaching marginalized segments, and evolving services.
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Recent Developments Observed in the Korean Visitor Management System Industry
| Attributes | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 47.6 million |
| Projected Industry Valuation by 2033 | USD 235.4 million |
| Value-based CAGR from 2023 to 2033 | 17.4% |
| Historical Analysis of the Visitor Management System in Korea | 2018 to 2022 |
| Demand Forecast for Visitor Management System in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Visitor Management System in Korea Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Cities Analyzed While Studying Opportunities in Visitor Management Systems in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Coway Co., Ltd.; Suprema, Inc.; Secudata Systems; Spectra; Smart-I Co., Ltd; Time and Space (TNS); Avigilon |
The visitor management system industry in Korea is valued at USD 47.6 million in 2023.
By 2033, the Korea visitor management system industry is estimated to reach USD 235.4 million.
Between 2023 and 2033, the visitor management system is expected to develop at a 17.4% CAGR in Korea.
The demand for web-based (desktop apps) is likely to dominate the industry in the coming years.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Solution 5.1. Visitor Management Software 5.2. Services 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Platform 6.1. Web-based (Desktop App) 6.2. Mobile App 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End user 7.1. Gated Communities 7.2. Corporate Offices 7.3. Healthcare Facilities 7.4. Hospitality 7.5. Academic Institutions 7.6. Real Estate Properties 7.7. Banks & Financial Institutions 7.8. Others 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. South Gyeongsang 8.2. North Jeolla 8.3. South Jeolla 8.4. Jeju 8.5. Rest of 9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. Market Structure Analysis 15. Competition Analysis 15.1. HID Global 15.2. Greetly 15.3. piLOBI 15.4. The Receptionist 15.5. Ezy Signin 15.6. SwipedOn 15.7. Traction Guest 15.8. Envoy 15.9. Proxyclick 15.10. Vizitor, Inc. 16. Assumptions & Acronyms Used 17. Research Methodology
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Visitor Management System Industry Analysis in Korea
