Global Lock Market Will Reach at CAGR of 6.03% Between 2017-2021

Latest industry research report on: Global Lock Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts


Albany, NY -- (SBWIRE) -- 03/23/2017 -- Locks are security devices that use an electronic or mechanical process to secure a belonging, system, or building. Mechanical locks require physical objects such as keys to unlock. Electronic locks require a key card, security token, or radio frequency identification device card to unlock. The scope of the report includes door locks, furniture locks, and safe locks that are operated through both electronic and non-electronic means.

Technavios analysts forecast the global lock market to grow at a CAGR of 6.03% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global lock market for 2017-2021. The global lock market has been witnessing growth across regions due to increasing awareness about high-tech security systems among various end-users.

The market is divided into the following segments based on geography:

Technavio's report, Global Lock Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Godrej & Boyce
Gunnebo Group

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Other prominent vendors
Bode Panzer
CompX International

Market driver
Security concerns
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Market challenge
Intense vendor competition
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Market trend
Vendor focus on smart lock systems
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?