Press release
Electronic Locks Market to Surpass US$ 3000 Mn by 2025|
Electronics Locks Market 2022-2025
Persistence Market Research (PMR), in its report, projects the global electronic locks market to register an impressive 13.9% CAGR during the forecast period 2017 to 2025. Global revenue generated from sales of electronic locks was worth US$ 1,036.5 Mn in 2016; by 2025, this number is projected to surpass US$ 3000 Mn. Robust expansion of IT and BFSI sectors will create opportunities for digital door lock security solution providers across the globe.
Request for Free Sample Report of “Electronics Locks” Market @ https://www.persistencemarketresearch.com/samples/10376
Adoption of Electronic Locks in Public & Private Places to Drive Market Growth in North America
With advancements in technology, companies offering electronic lock solutions are focusing on innovation in North America. Adoption of electronic locks in this region has surged among public and private places such as shopping malls, metro platforms, gyms, and parking lots. These factors are driving growth of the market in North America. Electronic locks are gaining traction in Latin America with increasing application of access control systems in furniture locks, and residential & commercial buildings. Key market strategies adopted by vendors including new product launches, acquisition of local manufacturers and strengthening their footprint in the market are further expected to propel growth.
Adoption and penetration of electronic locks in Europe is being driven by attractive profit margins gained by distributors & suppliers, and increasing market competitiveness among players. However, there are over thousand small as well as large-scale manufacturers of electronic locks in Europe. This poses a challenge for companies in continuous innovation and pricing of solutions. In addition, consumers are unaware of about advanced technologies and opt for alternative security systems which are less complex and easy to use & access. These factors are expected to restrain growth of the market in Europe during the forecast period.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Honeywell International, Inc., Spectrum Brands Holdings, Inc., Assa Abloy, Cisco Systems, Inc., United Technologies Corporation, Salto Systems S. L., Panasonic Corporation, Vanderbilt Industries, Kiekert Aktiengesellschaft, iLOQ Limited and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Electronics Locks.
North America to be the Largest Market for Electronic Locks by 2025-End
North America is projected to be the largest market for electronic locks by 2025-end. In terms of value, electronic locks market in North America was evaluated at nearly US$ 300 Mn in 2016, and is further estimated to reach US$ 859.1 Mn by 2025. Market growth in Latin America is estimated to witness fastest expansion, followed by Middle East & Africa (MEA) and Asia Pacific (APAC). This market growth in Latin America is attributed to increasing focus of key market players to increase their presence in this region.
Electronic strikes will remain preferred product in the global electronic locks market. Revenues from sales of electronic strikes is expected to reach US$ 1,210.3 Mn by 2025-end. Demand for electromagnetic locks is expected to exhibit highest CAGR the forecast period. In contrast, demand for electronic deadbolts and latches is expected to register a comparatively low CAGR during the forecast period.
Wired Electronic Locks will Remain Preferred in the Market
By interconnectivity type, although wired electronic locks will account for largest revenues in the global market, demand for wireless electronic locks is projected to exhibit a relatively faster growth during the forecast. On the basis of authentication method, fingerprint scanning is expected to be the largest as well as fastest growing segment in the global electronic locks market by 2025-end.
Request For Customization@ https://www.persistencemarketresearch.com/request-customization/10376
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)
Key Stakeholders
Electronics Locks Market Manufacturers
Electronics Locks Market Distributors/Traders/Wholesalers
Electronics Locks Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
If you have any special requirements, please let us know and we will offer you the report as you want.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
Click Here to Buy this Report@ https://www.persistencemarketresearch.com/checkout/10376
Media Contact:
Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353
sales@persistencemarketresearch.com
About PersistenceMarketResearch:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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 Locks Market to Surpass US$ 3000 Mn by 2025| here
News-ID: 2536889 • Views: …
More Releases from Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for Electronic
Revolutionizing Electronic Warfare: The Power of Cognitive Electronic Warfare Sy …
According to the report published by Allied Market Research, " Cognitive Electronic Warfare System Market by Capability (Electronic Attack, Electronic Protection, Electronic Support, Electronic Intelligence) and by Platform (Naval, Airborne, Land, Space): Global Opportunity Analysis and Industry Forecast, 2023-2032 "Cognitive electronic warfare systems are based on learning action frameworks that use machine learning algorithms and artificial intelligence (AI) to mimic human perception of learning, memory, and judgement. Machine learning, being…
Electronic Cigarettes
Electronic Cigarettes are also known as Vaping, which consist of different type of devices that allow the users to inhale an aerosol that might be nicotine, flavoring and other species. Electronic Cigarettes market is expected to mark significant growth over forecasted period owing to increasing technological advancements, change in lifestyle and consists of various flavours and fragrance. There has been significant rise in number of prevalence of adults using e-cigarettes…
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 Wrapper Market Segmented By loading types semi-automatic electronic w …
A Revolutionary Product for the Packaging Industry
The electronic wrapper has been a revolutionizing product in the packaging industry. Electronic wrappers are easy to maintain and comfortable for size changes. The steel built electronic wrappers enable easy access for maintenance and cleaning, thus, gaining a considerable customer base from the packaging industries mainly for food and consumer products. An electronic wrapper is an automated machine, which is programmed to perform a…
Wearable Electronic Devices Market,Wearable Electronic Devices Industry, Global …
Latest industry research report on: Global Wearable Electronic Devices Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
This report studies the global Wearable Electronic Devices market status and forecast, categorizes the global Wearable Electronic Devices market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other…
