LONDON, Sept. 14, 2016 /PRNewswire/ -- The report on the global electronic cylinder lock credentials market lists three types of credentials, namely, electronic key (contact based), RFID key (cards), key fob, and badge and studies and offers forecasts of the expected revenue contribution of each of these segments and applications across various verticals for the period 2016–2024.
The global electronic cylinder lock credentials market is anticipated to witness significant revenue growth over the forecast period, owing to rising demand for different end-to-end applications across various industries in the commercial, residential, industrial and government sectors globally.
Requirements for enhanced security and robust growth of construction and real estate sectors are major factors expected to fuel demand for electronic cylinder lock credentials globally. Demand for electronic cylinder lock credentials is strongly associated with the growth of the construction sector globally. Real estate developers are focused on providing high-end security solutions in new buildings as their unique selling point in order to attract more customers. Revenue from the global construction market is expected to expand at a significant CAGR by 2020. This is expected to drive demand for electronic cylinder lock credentials worldwide over the forecast period.
Higher demand for mechatronic locks over electronic cylinder locks is one of the major challenges faced by electronic cylinder lock credentials manufacturers globally. Major opportunities for growth in the global electronic cylinder lock credentials market lies in the expansion of IT and BFSI sectors. These sectors are expected to create the potential revenue opportunity for digital door lock security solution providers through business tie-ups with companies. In order to capitalize on lucrative growth opportunities globally, manufacturers are entering into regional markets through strategic partnerships with domestic players. Over the last few years, companies such as SimonsVoss Technologies GmbH, ASSA ABLOY, and Kaba Group have significantly increased their footprint in the global electronic cylinder lock credentials market.
To understand and assess demand and opportunities in this market, the report is categorically split into three major sections, namely market analysis – by product type, by technology, by the end user, and by region. The report analyzes the global electronic cylinder lock credentials market in terms of market value (US$ Mn).
The report starts with a market overview and provides market definition and analysis about drivers, restraints, opportunities, and key trends in the market. The sections that follow include analysis of the global market – by product type, by technology, by an end user, and by region. All three sections evaluate the market on the basis of various factors affecting the market, covering the present scenario and future prospects. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and 2017, and forecast provided for 2016–2024.
The Global electronic cylinder lock credentials market is segmented as follows:
By Product Type
By End User
On the basis of Product type, the market is segmented into:
Electronic Key (Contact)
RFID Key (Cards)
Key Fob and Badge
The electronic key (Contact) segment is anticipated to expand at the fastest CAGR over the forecast period in terms of revenue, followed by the key fob and badge segment. This section comprehensively analyzes the market on the basis of product type and presents an in-depth detail of the market size in terms of value for 2016–2024.
On the basis of technology, the market is segmented into:
Low frequency RFID
High frequency RFID (NFC)
Among aforementioned segments, high frequency RFID (NFC) segment is expected to expand at the highest CAGR of 13.1% in terms of value during the forecast period, followed by the others segment.
This section analyzes the market on the basis of regions and presents comprehensive market size details in terms of value over the forecast period.
Regions covered in the report includes:
Download the full report: https://www.reportbuyer.com/product/4133217/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/electronic-cylinder-lock-credentials-market-300328330.html