Electronic Locks Market : Recording Traffic Details For Security Records A Key Driver Of The Electronic Locks Market

Recording traffic details for security records a key driver of the electronic locks market

The scope of the electronic locks market has considerably expanded as parking lots, gyms, metro platforms, shopping malls, and other organizations need to keep track of customer footfalls for the sake of security. The deployment process has slowly but surely become easier and the need for security has increased substantially. This has made the general population abandon traditional locks in favor of electronic locks.

Browse The Report: https://www.persistencemarketresearch.com/market-research/electronics-locks-market.asp

Immense growth of smart homes and gadgets, particularly in North America is a major growth booster

There has been massive demand for smart applications and homes in the last five years in North America that is driven by the pervasive use of smartphones and other smart devices. Residential security is a critical concern of people who were early adopters of smart home technology. Smart home applications include sensors, cameras, electronic locks and security alarms, and cameras with advanced features such as fire alarms, power management devices, climate control, and self-powered lights. People are opting for smart home applications that have advanced security features built-in to improve their quality of living. All these factors are anticipated to boost the electronic locks market.

Request to download and view full ToC @https://www.persistencemarketresearch.com/market-research/electronics-locks-market/toc

The U.S dominates the North America electronic locks market

North America accounts for a lion’s share of the global electronic locks market with the U.S being the largest market within the continent. Revenue from the U.S electronic locks market was just under US$ 275 Mn in 2016, and this should rise to approximately US$ 305 Mn in 2017 and about US$ 766 Mn by the end of the forecast period largely due to a high CAGR of 12.2% estimated to be recorded during 2017 – 2025. An incremental dollar opportunity of roughly US$ 460 Mn can be exploited in the U.S electronic locks market between 2017 and 2025.

The world is gradually moving towards ‘complete digitization’ so can locks be left far behind? In a new report titled ‘Electronic Locks Market: Global Industry Trend Analysis 2012 to 2016 and Forecast 2017-2025,’ Persistence Market Research has studied the global electronic locks market over an eight-year period ending in 2025. The electronic locks market report has been prepared with the help of critical metrics such as CAGR, absolute and incremental dollar opportunity, and Y-o-Y growth rate. A few assumptions are made and certain acronyms used for the sake of convenience in the electronic locks market report. These are adequately explained in a separate section and readers are advised to refer to it first.

Make an Enquiry @https://www.persistencemarketresearch.com/samples/10376

Research Methodology

Persistence Market Research has adopted a research methodology that is truly world-class. The analysts start with extensive primary and secondary research in the global electronic locks market. A market player list of every component of the value chain is created and a questionnaire is devised to get all the necessary information pertaining to the electronic locks market. After this stage, the information is thoroughly scrutinized using the triangulation method in which both primary and secondary data are combined with Persistence Market Research analysis to arrive at the final data estimations. This data is examined once again with cutting-edge tools to deliver all the qualitative and quantitative insights into the electronic locks market.

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

305 Broadway,7th Floor
New York City, NY 10007
United States
Tel:+1-646-568-7751
Email:sales@persistencemarketresearch.com
Website:https://www.persistencemarketresearch.com

This release was published on openPR.