Global Electronic Home Locks Market 2018-2022

The global electronic home locks market size will grow by USD 431.59 million during 2018-2022. This report offers an analysis of the market based on authentication method (numerical codes and passwords, biometrics, security tokens, and RFID), connectivity (wired electric home locks and wireless electronic home locks), product (electric strikes, electronic deadbolts and latches, and electromagnetic locks) and distribution channel (online and offline). The electronic home locks market research report further presents an in-depth insight on the growth prospects of the market across the Americas, APAC, and EMEA. The report analyzes the market’s competitive landscape and offers information on several companies including Allegion, ASSA ABLOY, Honeywell International, SAMSUNG, and Spectrum Brands.

Below are some of the key findings from the electronic home locks market research report

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Global electronic home locks industry overview

The increasing integration of advanced technologies is one of the key drivers in the electronic home locks market. When compared to regular home locks, electronic home locks are operated either on battery or electricity and are more expensive. The introduction of technologically advanced security and locking system has led to the high price of electronic home locks. Smart connectivity is one of the latest technologies incorporated in electronic locks. Using wireless technologies such as Wi-Fi and Bluetooth, modern electronic home locks can be easily connected to smartphones or tablets. Thus, these locking systems can send alerts to the mobile devices of users, and the users can control and monitor the electronic home locks from anywhere. Factors such as weatherproof keypads, a record of access history, scheduled access time, ease of use, code storage in lock’s memory, and adding or deleting users remotely are driving the global electronic home locks market. Manufacturers can extend their product line and develop more premium products due to the integration of advanced technology. The availability of innovative features in electronic home locks will increase their adoption among consumers, which, in turn, will propel the growth of the global electronic home locks market during the forecast period. The electronic home locks market is projected to grow at a CAGR of over 16% during the forecast period.

The growing urbanization enabling the category growth opportunity is one of the key trends contributing to the growth of the electronic home locks market. Electronic locks for homes are gaining traction due to the growing urbanization and also due to the enhancement of digitalization across the world. Consumers have an inclination for enhanced security systems for their home and they are aware of their benefits.

Top electronic home locks companies covered in this market research report

The electronic home locks market is moderately fragmented with multiple players occupying the market share. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this electronic home locks industry analysis report is designed to aid clients to identify new growth opportunities and make informed business decisions.

The report offers a complete analysis of various companies including:

• Allegion
• ASSA ABLOY
• Honeywell International
• SAMSUNG
• Spectrum Brands

Electronic home locks market segmentation based on geographic regions

• Americas
• APAC
• EMEA

The Americas region will account for the highest incremental growth as well as the largest revenue contributor to the electronic home locks market during the forecast period. The US is the leader in the electric home locks market in this region.

Electronic home locks market segmentation based on products

• Electric strikes
• Electronic deadbolts and latches
• Electronic Locks

The electric strikes segment will account for the highest growth in the market. Additionally, the report will also provide an accurate prediction of the contribution of the various product segments to the growth of the electronic home locks market size.

Key highlights of the global electronic home locks market for the forecast years 2018-2022:

• CAGR of the market during the forecast period 2018-2022
• Detailed information on factors that will accelerate the growth of the electronic home locks market during the next five years
• Precise estimation of the global electronic home locks market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the electronic home locks industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on the factors that will challenge the growth of the electronic home locks companies

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