With a market size valued at $ 3.2 billion by 2026, this is a healthy prospect for the global electronic lock market

SAN FRANCISCO, October 7, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Electronic Locks – Global Market Trajectory & Analytics”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.

Global Electronic Locks Market

Editing: 9; Posted: April 2021
Executive pool: 1922
Companies: 41 – Players covered include Assa Abloy AB; Cisco Systems, Inc .; Honeywell International, Inc .; iLOQ Oy; Kiekert SA; Panasonic Corporation; SALTO SL systems; Spectrum Brands Holdings, Inc .; United Technologies Corporation (UTC); Vanderbilt Industries and others.
Blanket: All major geographies and key segments
Segments: Authentication (digital codes and passwords, security tokens, biometrics); End use (residential, commercial, automotive); Interconnectivity (wired, wireless)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.

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Global Electronic Locks Market To Reach $ 3.2 billion by 2026
In the midst of the COVID-19 crisis, the global electronic lock market is estimated at US $ 1.5 billion in 2020, is expected to reach a revised size of US $ 3.2 billion by 2026, with a CAGR of 13.3% over the analysis period. Wired, one of the segments analyzed in the report, is expected to register a CAGR of 12.6% and reach US $ 2.5 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the wireless segment is readjusted to a revised CAGR of 14.9% for the next 7-year period.

The US market is estimated at $ 512.3 million in 2021, when China is expected to reach $ 564.2 million by 2026
The market for electronic locks in the United States is estimated at US $ 512.3 million in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 564.2 million by 2026, with a CAGR of 12.8% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 11.6% and 11.4% respectively during the analysis period. In Europe, Germany is expected to grow at around 9.8% CAGR. Following

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About Global Industry Analysts, Inc. and StrategyR ™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher, the only influencer-focused market research company in the world. Proudly serving more than 42,000 clients in 36 countries, GIA has been recognized for its accurate forecasting of markets and industries for more than 33 years.

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