Electronic locks find application in luxury apartments, office projects, and government projects. The electronic locks market can be segmented by end-use into hospitality and professional segments. The hospitality segment includes hotels, resorts, while the professional segment includes healthcare, government, education, commercial and financial verticals. Players in the market are ensuring electronic lock’s compatibility with technologies such as Wi-Fi or ZigBee, Z-Wave or Bluetooth or NFC, online wireless, semi-online wireless, and data on card to gain competitive advantage. The electronic locks market can be segmented by type into mechatronic, electromechanical and digital categories. Digital door locks are further segmented by type into biometrics and keypad locks. On the basis of geography, the global electronic locks market can be segmented as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Increasing adoption of electronic locks in mature markets such as Western Europe and the U.S. spurs the growth of electronic locks market. In the coming years, Asia Pacific is expected to be the fastest growing electronic locks market mainly driven by expanding sales in China.
The key players in the global electronic locks market include Kwikset (Spectrum Brands, Inc.), ASSA ABLOY Group, Kaba Holding AG, CDV Group Company, DynaLock Corporation, LockState, Schlage (Allegion Company), Onity (United Technologies Corp.), Salto Systems, SimonsVoss Technologies GmbH (Allegion Company), Videx Security Ltd and Seoul Commtech Co., Ltd.
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