Return to: Business NewsElectronic Home Locks Market Size Worth $952.4 Million By 2025The global electronic home locks market size is anticipated to reach USD 952.4 million by 2025 registering a CAGR of 16.1%, according to a new report by Grand View Research, Inc. High demand for home automation and advanced security technologies, such as electronics home locks, is expected to be the key factors driving the market. Rising construction activities in developed countries including U.S., Germany, U.K., and France are also expected to assist in growth of this market. Moreover, integration of innovative technologies, such as Near-Field Communication (NFC), Bluetooth, and voice and face recognition, is expected to boost the product demand. Key companies in the market are focusing on the development of advanced products to gain a competitive edge. For instance, ASSA ABLOY AB introduced a range of electronic locking solutions that features technologies, such as NFC.North America was the dominant regional market in 2018 and is estimated to retain its leading position throughout the forecast period. The growth is attributed to the rapid expansion of the construction industry, especially in residential sector, in the region. However, Asia Pacific is projected to witness the fastest growth over the forecast period due to high demand for advanced security solutions. The product demand is driven by the increasing residential construction activities, trend of home automation, and disposable income levels in the region. In addition, rising number of branded retail outlets, especially in India and China, is anticipated to contribute to the market in growth. For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/electronic-home-locks-market Further key findings from the study suggest: • Electronics lever locks product segment held the largest market share in 2018 and is estimated to witness the fastest growth over the forecast period due to rising trend of home automation for better security • Moreover, lever locks are easy to install and are equipped with advanced features, such as data storage and adding and deleting users remotely • Offline distribution channel was the leading segment in 2018. However, the online segment is anticipated to expand at the fastest CAGR of 18.0% from 2019 to 2025 • Increasing usage of smartphones and exposure to digital media, especially in developing countries like India and China, are expected to augment the products sales through online channels • Prominent companies in the electronic home locks market are ASSA ABLOY AB; Allegion plc.; Samsung Group; Spectrum Brands, Inc.; Honeywell International Inc.; Nuki Home Solutions; August Home, Inc.; The Godrej Group; Avent Security; and Security Door Controls (SDC) To request Research report sample copy with TOC please visit @: https://www.grandviewresearch.com/industry-analysis/electronic-home-locks-market/request/rs1 Grand View Research has segmented the global electronic home locks market on the basis of product type, distribution channel, and region: Electronic Home Locks Product Type Outlook (Revenue, USD Million, 2015 - 2025) • Strikes • Deadbolts and Latches • Lever Locks Electronic Home Locks Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025) • Offline • Online Electronic Home Locks Regional Outlook (Revenue, USD Million, 2015 - 2025) • North America o U.S. • Europe o Germany o U.K • Asia Pacific o China o India • Central & South America o Brazil • Middle East & Africa o UAE For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/6254/ibb About Grand View Research Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunit ... News Release: Electronic Home Locks Market Size Worth $952.4 Million By 2025 Submitted on: July 20, 2020 10:11:18 AM Submitted by: sitakant On behalf of: www.prhub.com |