Inc. 500 included Kisi, the leading cloud-based keyless access control system, on its list of the fastest-growing private companies in America for the second year in a row. The Inc. 5000 survey, according to the magazine, ranked companies based on percentage revenue growth. Kisi Security came in at number 421 and experienced a 1,093 percent growth.
The market size of the access control industry will exceed $12 billion by 2024, with mobile-based access being one of the solutions with the strongest growing demand. Companies offering access control as a service are expected to generate close to $1 billion in revenue by 2022 and ‘access control as a service’ market revenues are forecasted to grow at nearly triple the rate of the traditional access control equipment market over the next five years.
The security industry is among America’s fastest growing companies—with 68 security companies making the Inc. 500 list in 2017, 65 companies in 2018, and 67 companies in 2019. The revenue of security companies among America’s fastest growing 5,000 was $7.18 billion in 2017, $7.65 billion in 2018 (+6.5 percent YoY) and now $8.29 billion in 2019 (+8.3% YoY).
Given the lack of industry data on the use of this technology, Kisi began conducting extensive research to outline key industry trends and statistics. We published these findings last week in our first Mobile Access Study.
The industries featured on the Inc. list, when compared to our data of the industries investing the most in mobile access control, have experienced impressive growth over the past year and are heavily investing in access control. For example, there are 198 real estate companies that made the Inc. 5000 list, which account for the industry that secures the most doors per facility with access control. We’re proud to be an innovation that brings positive ROI to the offices and facilities of other problem-solvers, across all of the industries represented on the Inc. survey.
Inc. recognized Kisi’s huge growth over the past three years and looking ahead, Bernhard Mehl, the CEO of Kisi, still aims to dominate the access control market by 2021. “There aren’t many office tools that made the list,” Mehl said. “Kisi is one of just eleven security companies that made the top 500. This shows that while the access control market is booming, Kisi has already set the industry standard.”
This year we continued to provide a seamless access experience to companies both big and small, and we were proud to launch many new features, such as offline functionality, a lockdown feature for emergencies and soon we’ll be unveiling a new iteration of our reader. We know that our product will change the day-to-day operations of any business, which is why this year Century 21, PGA and UPS, among many others, chose Kisi to secure their offices.