openPR Logo
Press release

Electronic Cylinder Lock Market is expected to Surpass US$ 740.4 Mn by 2016–2024

06-13-2018 01:53 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Research Report Insights

Electronic Cylinder Lock Market is expected to Surpass US$ 740.4

Beefing up personal security, especially at home and other residential spaces is a global concern, which has signified the use of advanced locking systems. Electronic cylinder lock credentials are among the most sophisticated and hard-to-breach type of security systems, and are gradually gaining prominence globally. By the end of 2016, the global market for electronic cylinder lock credentials is expected to register substantial growth and reach US$ 351.0 Mn revenue at a y-o-y growth of 10.1% over 2015. Furthermore, the growing adoption of RFID key cards will continue to drive the demand for electronic cylinder lock credentials in hotels, MNCs and other commercial settings.

In terms of market revenue, the global electronic cylinder locks credentials market is projected to expand at a CAGR of 9.8%, and procure US$ 740.4 Mn during forecast period 2016–2024. North America and Europe will continue to collectively dominate the global market during the forecast period.

Research Report Insights (RRI) provides key insights on the trends and growth opportunities of the market in the report titled, “Global Market Study for Electronic Cylinder Lock Credentials: Industry Analysis and Forecast 2016-2024.” The report will also illustrate how low-frequency RFID cards will continue to dominate as the largest technological segment in the global electronic cylinder lock credentials market.

Request For Report Sample: https://www.researchreportinsights.com/report/sample/110114687/Electronic-Cylinder-Lock-Market

Besides the mounting need for enhanced security solutions in global residential sector, the demand for electronic cylinder lock credentials is considerably high in industrial and commercial spaces as well. Occurrence of unlawful activities, security breach by miscreants and improving standard of living will boost the demand for electronic cylinder lock credentials in companies, industries, hospitality sector and educational institutions. However, cybernetic hacking is expected to be a prime factor that will hamper adoption of electronic cylinder lock credentials in banks and other wealth regulatory organisations.

On the basis of product-type, the global market for electronic cylinder lock credentials will exhibit higher growth in the consumption of RFID key cards. Easy access, smooth deployment and wireless connectivity are some of the key features attributed for the growth of RFID segment. Meanwhile, the demand for contact-based access keys will also witness boost, owing to the rising use of electronic key cards in government offices.

Request For Report Discount: https://www.researchreportinsights.com/report/discount/110114687/Electronic-Cylinder-Lock-Market

On the basis of technology, the global electronic cylinder lock credentials market will demonstrate high adoption of low-frequency RFID technology. In terms of market revenue, the low-frequency RFID keys are expected to account for US$ 297.6 by the end of 2016. Electronic cylinder locks designed for NFC technology used in smartphones and other hand-held gadgets is also predicted to increase in terms of adoption, inciting consumers to shift to high-frequency RFID technology.

In 2016, Europe will continue to dominate by being the largest revenue contributor and accounting for more than 35% of the global electronic cylinder lock credentials market. By the end of 2016, North America will contend with Europe by accounting to revenues worth US$ 89.8 Mn, which will register an annual growth rate of 8.4% over 2015.  ASSA ABLOY, AIT Ltd., SimonsVoss Technologies GmbH, CES Group, and Salto Systems, S.L, among others, are observed as the leading industrial contributors in the global market for electronic cylinder lock credentials.

Report Analysis: https://www.researchreportinsights.com/report/rd/110114687/Electronic-Cylinder-Lock-Market

About Us:
Research Report Insights (RRI) is a leading market intelligence and consulting firm. We deliver a host of services including custom research reports, syndicated research reports, and consulting services which are personalised in nature. RRI delivers a complete packaged solution to clients; this combines current market intelligence, technology inputs, statistical anecdotes, valuable growth insights, 360-degree view of the competitive framework, and anticipated market trends.

Contact Us:
Research Report Insights
101 Maimuna Apartment
Koliwada Vasai West,
Mumbai-401201
Email: sales@researchreportinsights.com
Web Site: www.researchreportinsights.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electronic Cylinder Lock Market is expected to Surpass US$ 740.4 Mn by 2016–2024 here

News-ID: 1080876 • Views: 131

More Releases from Research Report Insights

Automotive Brake System Market 5.7% of CAGR throughout 2017-2022 Research Report …
The global automotive brake system market is anticipated to witnessing a substantial growth due to fresh prospects of the automotive industry in emerging along with developing economies and increased safety concerns by the government. It was stated in the report that the overall growth of the market is expected to reach a market value of above US$ 25 Billion through 2022, exhibiting a strong 5.7% of CAGR throughout 2017-2022. In modern
Automotive Brake System Market 2022 | Continental AG, Robert Bosch GmbH, Wabco H …
The global automotive brake system market is anticipated to witnessing a substantial growth due to fresh prospects of the automotive industry in emerging along with developing economies and increased safety concerns by the government. It was stated in the report that the overall growth of the market is expected to reach a market value of above US$ 25 Billion through 2022, exhibiting a strong 5.7% of CAGR throughout 2017-2022. In modern
Tarpaulin Sheets Market These factors, thus, are likely to boost the plastic mar …
A tarpaulin is a big sheet of water-proof material available in various sizes, generally being crafted from plastic like HDPE, LDPE. Tarps can be used to refuge any kind of items. Tarpaulins can efficiently be used to cover goods in the course of shipping and then they also can be used to house goods internal of a truck body so they are not uncovered to the elements. The Tarpaulin Sheets Market
Research Report Insights present kayaks market by 21 percent, or over by $42 mil …
Kayaking is a watersport which involves paddling using a double-bladed oar and a small boat known as a kayak. The boats come in a variety of sizes and types, depending on their intended use, but most kayaks feature an enclosed deck which covers the legs. The boat sits low in the water & usually only accommodates the single paddler, but tandem kayaks hold two people and some boats hold three

All 5 Releases


More Releases for Electronic

Electronic Logging Device Canada
There are some trucking companies that have what is known as an electronic logging device. This logger is actually a computer software program that keeps track of everything that goes on with the trucks. It can track the route, the fuel consumption and the maintenance on the vehicle. The trucking electronic logging devices in the truck can be hooked up to the company computer system and all of this can
Electronic Voting Machine Market 2019-2025| Top key players: Gaurang Electronic …
This report titled as Electronic Voting Machine Market gives a brief about the comprehensive research and an outline of its growth in the market globally. Electronic voting is voting that uses electronic means to either aid or take care of casting and counting votes. Depending on the particular implementation, e-voting may use standalone electronic voting machines or computers connected to the Internet. It may encompass a range of Internet services,
Electronic Voting Machine Market 2019-2025| Top key players: Gaurang Electronic …
The Electronic Voting Machine Market requires the prevailing regions in the market during the forecast period. Evidence on the region leading the market are some of the facets that are highlighted under this section of the report. A voting machine is a machine used to register and tabulate votes. The first voting machines were mechanical but it is increasingly more common to use electronic voting machines. Traditionally, a voting machine
Electronic Recycling Market - Increasing Consumption of Electronic Devices
In a report published recently, Transparency Market Research (TMR) provides insights into the growth drivers and restraints impacting the global electronic recycling market. The report is titled “Electronic Recycling Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” and is available on the company website for sale. Based on the findings of the survey conducted, the report pegs the global market for electronic recycling market
Electronic Security Market
Electronic security consists of all the systems that use electronic devices and embedded technology to enhance safety measures and protect human life and physical assets. Electronic security systems are also used in business operations to protect confidential business data and to track unauthorised access to business related information and assets. Rise in urbanisation has led to development of smart cities, which has resulted in adoption of security systems as they
Global Electronic Pipettes Market 2015, Electronic Pipettes Market Growth, Elect …
9D Research Group has recently announced the addition of new report "Electronic Pipettes Market 2016 - Global Industry Size, Trends, Growth, Share, Opportunities and Forecast by 2020" to their offering. Global Electronic Pipettes Industry 2016 Market Research Report was a professional and depth research report on Global Electronic Pipettes industry that you would know the world's major regional market conditions of Electronic Pipettes industry, the main region including North American, Europe