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.

Market Dynamics:

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..

Key features of the study:

• This report provides an in-depth analysis of the global electronic cylinder lock credentials market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2023 – 2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global electronic cylinder lock credentials market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key players operating in the global electronic cylinder lock credentials are iLOQ Limited, SimonsVoss Technologies GmbH, AIT Ltd. (Altman Integrated Technologies Limited), ASSA ABLOY, WFE Technology Corp., Salto Systems, S.L, CES Group, Legrand, and Kaba Group.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
• The global electronic cylinder lock credentials market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global electronic cylinder lock credentials market.

Detailed Segmentation:

• Global Electronic Cylinder Lock Credentials Market, By Product Type
  • Electronic Key (Contact based)
  • RFID Key (Cards)
  • Key Fob & Badge
• Global Electronic Cylinder Lock Credentials Market, By Technology
  • Low Frequency RFID
  • High Frequency RFID (NFC)
  • Others
• Global Electronic Cylinder Lock Credentials Market, By End Use
  • Commercial
  • Residential
  • Industrial
  • Government
• Global Electronic Cylinder Lock Credentials Market, By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • iLOQ Limited
  • SimonsVoss Technologies GmbH
  • AIT Ltd. (Altman Integrated Technologies Limited)
  • ASSA ABLOY
  • WFE Technology Corp
  • Salto Systems, S.L
  • CES Group
  • Legrand
  • Kaba Group
  • Avon Cycles Ltd