Electronics Locks Market Driving Factors and Current Pandemic Challenges Analysi

Posted by Fred Williams on April 20th, 2021

Electronic locks can be deactivated or opened by authentication such as passwords and passphrases, numerical codes, security tokens, RFID, and biometrics, among others. Protecting valuable assets and places becomes a concern as the global economic climate sours. Rigorous access control gives peace of mind, leading to growing demand of electronic locks. Electronic lock is gradually becoming one of the primary and cost-effective way to prevent unauthorized access.

Electronic locks find application in luxury apartments, office projects, and government projects. The electronic locks market can be segmented by end-use into hospitality and professional segments. The hospitality segment includes hotels, resorts, while the professional segment includes healthcare, government, education, commercial and financial verticals. Players in the market are ensuring electronic lock’s compatibility with technologies such as Wi-Fi or ZigBee, Z-Wave or Bluetooth or NFC, online wireless, semi-online wireless, and data on card to gain competitive advantage. The electronic locks market can be segmented by type into mechatronic, electromechanical and digital categories. Digital door locks are further segmented by type into biometrics and keypad locks. On the basis of geography, the global electronic locks market can be segmented as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Increasing adoption of electronic locks in mature markets such as Western Europe and the U.S. spurs the growth of electronic locks market. In the coming years, Asia Pacific is expected to be the fastest growing electronic locks market mainly driven by expanding sales in China.

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