Electronic Cylinder Lock Credentials Market, By Product Type (Electronic Key (Contact based), RFID Key (Cards), Key Fob & Badge), by Technology (Low Frequency RFID, High Frequency RFID (NFC) and Others), and By End-use (Commercial Sector, Residential Sector, Industrial Sector and Government) by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Electronic cylinder lock are high security locks which are used for enhanced security in residential, commercial, & Industrial sectors. These locks are standalone devices with electronic assembly mounted directly to the lock. Moreover, these locks can be remotely monitored and controlled, to lock and unlock. Moreover, an electronic key is a digitally encoded key that provides assurance of high-level security. Electronic fob is a type of smart security token that comprises an in-built authentication mechanism. These are typically used in condominium buildings and apartment buildings and for access to common areas such as lobby doors and storage areas.
The market for electronic cylinder lock credential is expected to grow substantially, owing to high growth in real estate and construction sectors which has increased the adoption of electronic cylinder lock significantly. As, the Real estate developers are focused on providing high-end security solutions in buildings as their unique selling point, in order to attract potential customers. For instance, according to Coherent Market Insight’s analysis, the global construction market is expected to register a CAGR of 60% by 2020. This, in turn, is expected to boost the demand for electronic cylinder lock credentials and thereby boost the market growth in the near future. Moreover, growing concern among the people regarding safety and security of their property and family has positivity impacted the market as increasing incidences of property crimes, burglaries, and home invasions in the recent past have increased the demand for advanced home security solutions.
This report segments the global electronic cylinder lock credentials market on the basis of product type the market is segmented into, Electronic Key (Contact based), RFID Key (Cards) and Key Fob & Badge. On the basis of technology, the global electronic cylinder lock credentials market is segmented into, Low Frequency RFID, High Frequency RFID (NFC) and others. On the basis of End-use, the market is segmented into Commercial, Residential, Industrial and Government.
Key features of the study:
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