Electronic Locks

Electronic Locks

Global Electronic Locks Market to Reach $6.3 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Electronic Locks estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$6.3 Billion by 2030, growing at aCAGR of 20.3% over the period 2022-2030. Wireless, one of the segments analyzed in the report, is projected to record 22.6% CAGR and reach US$5.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Wired segment is readjusted to a revised 12.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $441.9 Million, While China is Forecast to Grow at 19.2% CAGR
The Electronic Locks market in the U.S. is estimated at US$441.9 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2030 trailing a CAGR of 19.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.8% and 16.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.

Select Competitors (Total 41 Featured) -

• Assa Abloy AB
• Cisco Systems, Inc.
• Honeywell International, Inc.
• iLOQ Oy
• Kiekert AG
• Panasonic Corporation
• SALTO Systems SL
• Spectrum Brands Holdings, Inc.
• United Technologies Corporation (UTC)
• Vanderbilt Industries

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