Global Electronics Locks Market to Exhibit Rapid Expansion Owing to Its High Demand in Construction Industry During the Forecast Period 2016-2024

Electronic locks can be deactivated or opened by authentication such as passwords and passphrases, numerical codes, security tokens, RFID, and biometrics, among others. Protecting valuable assets and places becomes a concern as the global economic climate sours. Rigorous access control gives peace of mind, leading to growing demand of electronic locks. Electronic lock is gradually becoming one of the primary and cost-effective way to prevent unauthorized access.


Albany, NY -- (SBWIRE) -- 05/05/2017 -- Protecting valuable assets and places is a major concern as the global economic climate sours. Electronic lock is gradually becoming a primary and cost-effective way to stop unauthorized access. A new forecast report, focusing on the future growth prospects of electronics locks has been recently added to the huge online collection of Market Research Reports Search Engine (MRRSE) with a title of 'Electronics Locks Market -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024'. This report studies the present market trends as well as the future prospects of the global electronics locks market. 

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The report has been compiled through extensive primary research (interviews, surveys and observations of researchers) and secondary research (industrial reports, journals, authentic paid sources and industrial databases). It also provides a complete qualitative and quantitative assessment by evaluating documents gathered from market participants and industrial experts across major points in the market's value chain system. The study also analyzes the ongoing trends in the market, along with macro- and micro-economic indicators and regulations. Additionally, a section covering the market dynamics impacting the market's growth trajectory such as drivers, restraints, risks and opportunities are examined within the report. The report predicts that the global electronic market will exhibit an impressive growth rate mainly due to its high demand in the construction industry. The rapidly rising crime rates and unethical practices globally are also fuelling the growth of electronic locks market. Besides this, rising popularity of access control systems is also likely to drive growth in the electronic locks market during the forecast period.

Moving further in the study, the electronic locks market is segmented by end-use into professional and hospitality segments. The hospitality segment includes resorts and hotels, whereas the professional segment includes education, government, healthcare, commercial and financial verticals. Connectivity technologies compatibility with the electronic locks are Wi-Fi, ZigBee, Z-Wave, Bluetooth, NFC, online wireless, semi-online wireless and data on card. The electronic locks market can be further segmented on the basis of type into mechatronic, electromechanical and digital categories. On the basis of geography, the global electronic locks market is segmented as North America, Asia Pacific, Europe, Middle East and Africa and Latin America.

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The report further highlights some of the major players operating in the global electronic locks market which are Kwikset (Spectrum Brands, Inc.), Kaba Holding AG, CDV Group Company, ASSA ABLOY Group, DynaLock Corporation, Schlage (Allegion Company), Onity (United Technologies Corp.), LockState, Salto Systems, Videx Security Ltd, SimonsVoss Technologies GmbH (Allegion Company) and Seoul Commtech Co., Ltd.

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