Starting at a valuation of US$47.6 million in 2023, the industry is on track for substantial expansion. Projections suggest that by 2033, the visitor management system market in Korea could reach an impressive US$235.4 million. This signifies a noteworthy upward trajectory, indicating a flourishing industry in the coming years.
In recent times, visitor management systems (VMS) have experienced notable advancements, propelled by progress in technology, changing security needs, and a growing emphasis on improving the overall visitor experience. The incorporation of Internet of Things (IoT) devices has been instrumental in bolstering security measures within VMS. By deploying sensors, these systems can swiftly identify visitors as they enter designated zones, leading to the immediate generation of alerts or notifications.
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Competitive Landscape:
Renowned companies are actively engaged in creating advanced visitor management systems in Korea. These companies focus on fostering growth by continually innovating their technologies and digital solutions. Meanwhile, startups in this industry strive to introduce novel solutions and invest in cutting-edge technologies to effectively compete with well-established firms. Startups not only offer a fresh perspective but also open up unique opportunities for exploring untapped markets, connecting with overlooked segments, and enhancing the overall landscape of services.
Key Players in the Korea Visitor Management System Industry Include: Coway Co. Ltd., Suprema, Secudata Systems, Spectra, Smart-I Co., Time and Space (TNS), Avigilon Inc. Ltd
Recent Developments Observed in the Korean Visitor Management System Industry:
In July 2023, Vueron Technology, a prominent provider of LiDAR perception solutions, proudly declared the successful accomplishment of a crowd analysis project in Ikseon-dong, Jongno-gu, with the guidance of the Jongno-gu office. Vueron showcased its advanced crowd analysis solution known as Smart Crowd Analytics (SCA).
In July 2023, South Korea's Information and Communications Technology Department released a request for proposals to acquire upgraded software packages for the Visitor Management System Operation.
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