Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global E-lock Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international E-lock Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global E-lock Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global E-lock
Market is offered. In
accordance with the report, the global E-lock Market is projected to expand by healthy CAGR of 6.3%
over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
E-locks
are one type of specially made security system that provides a superior
security at a very low cost. These locks are very practical, easy to install and
do not need any keys or cards for access or control. They come in different
type with different technologies and can have both wired and wireless
connectivity with features like waterproof body, data storage, addition and
deletion of user data, recording of access history etc. The degree of security
offered by the E-locks depend on the technology used and security system type.
These types of locks are very practical for those places where security is
needed but due to the large volume of people entering and existing the place
key or card locks are inconvenient.
Market Drivers
The rise
in demand for E-locks in the expanding non-residential sectors like education,
industrial, healthcare sectors is driving the market growth for E-locks. The
increase in cases of burglary in the past few years in both residential and
non-residential sectors is also pushing the E-locks Market growth rate high as
these locks provide a better security than traditional locks. The rising
concerns over better and expensive lifestyles among the young generation is
also playing a key role behind the said market growth.
Beside
this, the rapid urbanization, growing population and growing number of
residential buildings, smart homes and rising per capita income are also some
of the key players behind the rapid growth of the Skin Care Market.
Aside
from these, the rising foreign investments in the E-lock sector are also adding
fuel to this increasing market growth.
The
regular introduction of different and brand-new types of E-locks with better
technology and superior security to satisfy the varying tastes of the customers
is also attracting new consumers and thus helping the growth rate of E-locks
Market to rise high. The convenience and efficiency of E-locks is also helping
in the expansion of the said market.
Market Restraints
The E-lock Market has a huge potential. Though it is expanding very fast
day by day, many things are preventing it from using its full potential. Some
of these restraints are–
? High
prices of the raw materials.
? High repairing costs.
? High cost of R&D activities.
? High cost of the premium quality end products.
? Availability of substitutes at lower costs.
? Unavailability of these products in many
regions.
? Lack of awareness about the availability and
benefits of the E-locks in the
rural areas of the developing countries.
Opportunities
The E-lock Market growth is mainly based on the
consumption of these products for commercial and non-residential use as the
traditional-locks are pretty impractical in the places where large number of
people keep entering and existing. The products must provide security to a
certain degree, should be easy-to-use, efficient and must satisfy the
preferences of the consumers and it must be budget-friendly. The keypad locks are
very famous due its all-in-one properties and low costs compared to the biometric
locks.
Trends
During
the forecast period, North America followed by Asia Pacific and Europe are
expected to have the largest share of E-locks Market. The demand for these products in the
North American region is driven by its growing population,
smart homes and buildings and rising disposable income among individuals. Rising
concerns over proper security in home, offices and other non-residential
buildings and places specially in USA, Canada etc. are also driving the growth.
It is also
believed that on the basis of security system type, the digital e-lock segments
will have the largest share for its low prices and high demand and efficiency
and convenience. The Password-based and Numerical Codes-based E-locks Markets
are also expected to rise significantly in the said time for its rising demand
among young generation. The Lever Locks segment will also face a rapid growth
for its attractive features like data storage, recording of access history etc.
Segment Covered:
This market
intelligence report on the global E-lock Market encompasses market segments based on product type, security
system type, communication protocol type, security code type, application, end
usage, distributional channel and country.
By Product
Type the global E-lock Market has been
divided into:
q Strikes
q Deadbolts
and Latches
q Lever
Locks
By Security
System Type the global E-lock Market has been
divided into:
q Mechatronic
Locks
q Electromechanical
Locks
q Digital
Locks
o Biometrics
Locks
o Keypad
Locks
By Communication
Protocol Type the global E-lock Market has been
divided into:
q Wi-Fi
q Zigbee
q Bluetooth
q Z-Wave
q NFC
q Online
Wireless
q Semi-online
Wireless
q Others
By Security Codes Type the global E-lock Market has been
divided into:
q Passwords
q Passphrases
q Numerical
Codes
q Security
Tokens
q RFID
q Biometrics
q Others
By Application
the global E-lock Market has been divided into:
q Residential
q Non-residential
o Education
o Healthcare
o Industrial
o Retail
o Others
By End
Usage the global E-lock Market has been
divided into:
q Personal
q Commercial
By Distributional
Channel the global E-lock Market has been
divided into:
q Supermarkets
and Hypermarkets
q Online
q Others
By country/region,
the global E-lock Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Samsung
Group
q The
Godrej Group
q August
Home Inc.
q Nuki
Home Solution
q ASSA
ABLOY AB
q Spectrum
Brands Inc.
q Allegion
PLC
q Honeywell
International Inc.
q Avent
Security
q Security
Door Controls
q Dormakaba Holding AG
q Salto Systems S.L.
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as E-lock Market related
investment & spending and developments by major players of the market are
tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
ASSA ABLOY AB
The ASSA ABLOY
Group, the global leader in access solution has been producing E-locks since a long
time ago. Recently their sales have increased by 12% due to the increase in
demand for electromechanical and digital locks. They are focusing on R&D
activities more in past few years to develop newer and better locks with
superior security which is really attracting new customers.
Samsung Electronics
Samsung Electronics Co. Ltd., the South Korean company has been
producing and offering different types of smart locks such as SHP-DR708, SHP-DP609,
SHP-DP727 and SHP-DP738. They have been focusing on the features like smart
communication and control technology and bigger data storage features in the
locks to make their products more convenient, beneficial and attractive.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the E-lock Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019
as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world E-lock Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of different type of models,
government initiatives, marketing tactics and expansion, and technical up
gradation
Ø
The world
market for E-lock caters to the needs
of various stakeholders pertaining to this industry, namely suppliers, manufacturers,
investors, and distributors for E-lock Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the E-lock Market
v
Identification
of key factors driving investment opportunities in the E-lock Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants
