Electronic Home Locks Market

1. Electronic Home Locks Market Revenue Drivers Growth Opportunities Supply Chain Analysis and Forecast Research Report Till 2025 “The global electronic home locks market is estimated to reach USD 952.4 million by 2025, and is projected to grow at a CAGR of 16.1% from 2019 to 2025, according to a new report by Million Insights.” The global Electronic Home Locks Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global electronic home locks market is estimated to reach USD 952.4 million by 2025, and is projected to grow at a CAGR of 16.1% from 2019 to 2025, according to a new report by Million Insights. The increase in the demand for advance security systems and rising trend of connected homes are the key factors propelling the market growth. Key Players: ASSA ABLOY Allegion plc Samsung Spectrum Brands Honeywell International Nuki Home Solutions August Home Godrej Aventsecurity Security Door Controls

2. Request free sample to get complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-electronic-home-locks-market/request- sample Growth Drivers: Growing renovation activities along with the number of constructions projects is expected to increase the demand for the product in the coming few years. The advancement in technology such as facial & voice recognition, near field communication (NFC), and Bluetooth are anticipated to boost the market growth. Manufacturers in the market are focusing on developing wireless system with the integration of the above mentioned technologies to meet consumer needs. For example, ASSA ABLOY has launched locks offering with embedded advent technology like NFC. Furthermore, the growing digital media network along with rapid urbanization is expected to propel the demand for electronic locks in the next few years. This growth is mainly contributed by the rapid development in the corporate and residential construction activities. Product Type Outlook: Strikes Deadbolts & Latches Lever Locks In 2018, lever locks held the highest share in the overall market. Growing renovation activities along with the number of ongoing constructions projects are expected to increase the demand for this segment. These electronic locks are offered with cutting-edge features such as easy installation of the connected system. Further, the increasing demand for the home automation system is also fostering the market growth. In 2018, deadbolts locks were the highest selling product in the market. The product has high demand from the residential sector due to the easy locking mechanism. Regional Insights: In 2018, North America held the largest market share in the overall market. The region is expected to continue its leading position over the next few years. The growing demand for enhanced security systems, along with increasing per capita income of consumers is driving the growth of the electronic locks. Asia Pacific region is anticipated to grow at the highest CAGR of over 20.4% during the forecast period. The growing number of retail outlets and availability of wide varieties of global brands in countries like China and India is projected to spur the market growth. Additionally, growing infrastructural development and rising need for enhanced security solutions are expected to increase the demand for security systems. Browse Related Category Research Reports @ https://blog.naver.com/tomclark

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