Biometric Bike Locks Market Expected to Expand at a Steady CAGR through 2028Posted by vakhas on October 4th, 2019 Biometric Bike Locks Market – Novel Developments Significant players operating in the biometric bike locks market include Narrative Content Group, Grasp Locks, Skylock, Bitlock, Lattis, LINKA, Ulock, Looplock, Mobilock and Deeper UAB. The key players of the biometric bike locks market have been sustaining their positions by entering into strategic mergers and acquisitions and launching novel products. Below are some of the key developments by the market players: Biometric Bike Locks Market – Introduction Bike locks have undergone a revival from spindly cables to smart locks that possess the competency to detect theft and collision. With the technological advancements venturing into the space of bike locks, biometric methods such as fingerprint and face recognition have gained traction in the recent years. Rising awareness pertaining to the security of bikes and the growing numbers of bikers are expected to remain the primary drivers upholding the growth of the biometric bike locks market. A notable rise in the demand for biometric bike locks can be attributed to the quantitative growth of track bikes as well as cyclocross bikes, which requires high-end locks, owing to their premium prices. As a result of which, the growth of the biometric bike locks market is envisaged to remain sustained in the forthcoming years. Request Sample Report@ https://www.factmr.com/connectus/sample?flag=S&rep_id=1845
Biometric Bike Locks Market – Dynamics Increasing Use of Smartphones to Hold Promising Growth Opportunities for the Biometric Bike Locks Market Increase in the penetration of smartphones and tablets in the developed as well as developing economies is expected to influence the size of the biometric bike locks market in the coming years. The biometric bike locks are paired with the application present in the smartphone, which authorizes the rider and unlocks the bike. With the pervasive use of smartphones and tablets, there has been a meteoric rise in the demand for biometric bike locks to ensure the safety of the bikes. In addition, a notable rise in the disposable income of consumers has encouraged them to shift to premium products, which in turn is expected to influence the size of the biometric bike locks market. North America to Remain an Affluent Region, on Account of its Technological Vigor North America is expected to uphold the growth of the biometric bike locks market in the forthcoming years, on account of advancements in technology and concentration of significant players. Manufacturers operating in the biometric bike locks have been devising innovation by employing technologies and sustaining their position in the market. In addition to this, sales of biometric bike locks are predicted to rise, on account of the economic strength of consumers in this region, which has influenced their spending capabilities. Europe is also expected to remain a profitable market for biometric locks with the mandates set by the government pertaining to the safety and security of automobile. Biometric Bike Locks Market: Segmentation The global Biometric Bike Locks market can be segmented as: Segmentation of the biometric bike locks market on the basis of Bike Type:
Segmentation of the Biometric Bike Locks market on the basis of Lock Type:
Due to flexibility and low price, the U biometric bike lock sub-segment is projected to hold largest market share in the biometric bike locks market. The cable biometric bike lock sub-segment is expected to grow at more than 8% CAGR during the forecast period in the global biometric bike lock market. The report covers exhaustive analysis on:
Regional analysis for the market includes the development of the Biometric Bike Locks market in the following regions:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies. Report Highlights:
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