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2016-2024 Electronic Cylinder Lock Credentials Market

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Electronic Cylinder Lock Credentials Market Revenue from the global electronic cylinder lock credentials market is anticipated to increase from US$ 351.0 Mn in 2016 to US$ 740.4 Mn by 2024, expanding at a 9.8% CAGR during the forecast period (2016–2
Global Market Study on Electronic Cylinder Lock
Credentials: Europe to remain largest market with
near 30% Share
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Electronic Cylinder Lock Credentials Market 2016-2024
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Report Media Releases
Revenue Generated by the Global Electronic Cylinder Lock
Credentials Market is estimated to Reach US$ 351.0 Mn by
2016 end, with RFID Key (Cards) at the Forefront of
Demand
According to a recent report published by Persistence Market Research (PMR), revenue
generated by the global electronic cylinder lock credentials market is estimated to reach US$ 351.0
Mn by 2016 end, witnessing an increase of 10.1% over 2015 revenue. Low frequency RFID is
estimated to be the largest technology segment in terms of value contribution by 2016 end,
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accounting for US$ 297.6, which is up from US$ 271.3 in 2015.
Requirement for enhanced security in the residential sector, with enhanced growth in the
construction and real estate sectors, are factors expected to fuel construction activities, thereby
fuelling demand for electronic cylinder lock credentials. Demand is expected to pick up in the
residential sector due to recent trends such as improving living standards, increasing per capita
income etc.
The market in Europe is estimated to be the largest revenue contributor to the global electronic
cylinder lock credentials market by 2016 end, with a revenue share of 35.9%. Owing to a large
number of leading players offering home security solutions in Europe, the market in the region is
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becoming increasingly competitive in nature and is expected to continue growing in terms of
revenue contribution. Region-wise, North America is estimated to be the second largest market
in the global electronic cylinder lock credentials market, with revenue at US$ 89.8 Mn – an
estimated increase of 8.4% by 2016 end over 2015.
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Among all product types, RFID key (cards) segment is estimated to account for leading market
revenue share by 2016 end, owing to the fact that it is cost-effective, easy to deploy, and users
can use any Bluetooth-enabled hand-held gadget to access electronic door lock systems.
Demand for electronic key (contact based) is estimated to witness highest growth rate by 2016
end, owing to its increasing utilization in commercial, residential, industrial, and government
sectors.
Electronic Cylinder Lock Credentials Market 2016-2024
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Among all technology segment, low frequency RFID is estimated to lead in terms of overall
revenue contribution by 2024, high frequency RFID (NFC) segment is estimated to witness
highest growth rate by 2016 end. Locks being accessible using NFC technology, smartphones,
tablets or Bluetooth-enabled gadgets, is a primary factor for consumers shifting to high frequency
RFID (NFC) locks.
For more info (desk of content material), Figures and Tables of the report @
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Leading players such as AIT Ltd., CES Group, Salto Systems, S.L, etc. are focusing on reducing
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operational costs as well as introducing advanced products to consolidate their position in the
market. Mergers & acquisitions and joint ventures remain a key strategy in the global electronic
cylinder lock credentials market. For example, over the last few years, companies such as
SimonsVoss Technologies GmbH, ASSA ABLOY, and Salto Systems, S.L have significantly
increased their footprint in the global electronic lock credentials market by entering into strategic
partnerships with regional market players.
Long-term Outlook: PMR forecasts the global electronic cylinder locks credentials market
revenue to increase at a 9.8% CAGR during forecast period 2016–2024, and reach US$ 740.4
Mn.
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Browse through the full Electronic Cylinder Lock Credentials Market Report
at http://www.persistencemarketresearch.com/market-research/electronic-cylinder-lock-
credentials-market.asp
Electronic Cylinder Lock Credentials Market 2016-2024
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