With a market size valued at $ 3.2 billion by 2026, this is a healthy prospect for the global electronic lock market.

FACTS AT A GLANCE
Editing: 9; Posted: April 2021
Executive pool: 1922
Companies: 41 – Players covered include Assa Abloy AB; Cisco Systems, Inc .; Honeywell International, Inc .; iLOQ Oy; Kiekert SA; Panasonic Corporation; SALTO SL systems; Spectrum Brands Holdings, Inc .; United Technologies Corporation (UTC); Vanderbilt Industries and others.
Blanket: All major geographies and key segments
Segments: Authentication (digital codes and passwords, security tokens, biometrics); End use (residential, commercial, automotive); Interconnectivity (wired, wireless)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.

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ABSTRACT-

Global Electronic Locks Market To Reach $ 3.2 billion by 2026
In the midst of the COVID-19 crisis, the global electronic lock market is estimated at US $ 1.5 billion in 2020, is expected to reach a revised size of US $ 3.2 billion by 2026, with a CAGR of 13.3% over the analysis period. Wired, one of the segments analyzed in the report, is expected to register a CAGR of 12.6% and reach US $ 2.5 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the wireless segment is readjusted to a revised CAGR of 14.9% for the next 7-year period.

The US market is estimated at $ 512.3 million in 2021, when China is expected to reach $ 564.2 million by 2026
The market for electronic locks in the United States is estimated at US $ 512.3 million in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 564.2 million by 2026, with a CAGR of 12.8% over the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 11.6% and 11.4% respectively during the analysis period. In Europe, Germany is expected to grow at around 9.8% CAGR. Following

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