Global EMEA Electronic Cylinder Lock Credential Market Based on Product Type (Electronic Key, RFID Key, Key Fob & Badge), By Based on Technology (Low-Frequency RFID, High-Frequency RFID (NFC), Other Technologies), By Application (Commercial Sector, Residential Sector, Industrial Sector, Government) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

EMEA Electronic Cylinder Lock Credential Market Overview

“EMEA Electronic Cylinder Lock Credential Market” is the title of an upcoming market report compiled by Market. US. This report will consist of information, data, and inputs from both primary as well as secondary data sources, that have been verified and validated by experts in this market. The following document will offer an in-depth analysis of revenues, key developments, and strategies by major industry players including vital insights and perspectives into various aspects of this industry. Besides critical data and related information, the report will include key trends (both present and future), factors that are expected to influence market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions/countries. Additionally, it covers imminent threats or challenges from existing contenders, as well as new industry entrants. The segmentation of the EMEA electronic cylinder lock credential industry will be presented on the basis of type, technology, application, as well as regions/countries.

The Europe electronic cylinder lock credential market was valued at $156.1 Мn in 2021 and is projected to register а САGR of 7.3% by the year 2030.

The MEA electronic cylinder lock credential market was valued at $24.8 Мn in 2021 and is projected to register а САGR of 5.5% by the year 2030.

Overview:

An electronic lock is a locking mechanism that uses an electrical current to function. Electronic locks can be controlled and tracked remotely. It has an electronic key, which is digitally encoded, and provides a high level of security assurance.

Dynamics:

Home invasions and property crimes have significantly increased in recent years. Advanced electronic security technologies, such as electronic door locks have proven to be effective countermeasures against burglaries, as such, they are increasingly becoming a go-to option for a large number of consumers. Individuals are increasingly becoming aware of various high-end security solutions for both residential and commercial applications, which is expected to increase the demand for electronic door locks, thus positively augmenting this target market’s financial growth trajectory over the forecast timeline.

As the demand for smart home devices surges, owing to their improved reliability and user-friendliness, so will the sales of electronic cylinder locks. These elements are expected to contribute to the revenue growth of the electronic cylinder lock credential industry.

New residential project developers often concentrate on offering innovative amenities to distinguish themselves from their rivals, such as highly secure electronic cylinder locks, panic rooms, etc. These elements are expected to complement potential returns for the electronic cylinder lock credential sector.

The COVID-19 pandemic has hampered trade in numerous countries. The threat of an impending economic recession would negatively impact potential investments in this field. The onset of the COVID-19 pandemic has had an effect on the supply chains of various corporations all over the world. Imposed lockdowns in major economies have resulted in a large gap between market supply and demand, making it difficult for producers and distributors to handle operations. This is a primary limiting factor that is expected to affect the potential sales growth of this target market. However, the economy is expected to gradually recover as lockdown restraints are removed.

The industry’s major players are focusing on research & development activities in order to create novel, high-end, and affordable products. This factor is expected to have a positive influence on the revenue growth of this market over the forecast period.

Segmentation of the EMEA electronic cylinder lock credential market is as follows:

Under the product type segment, the RFID sub-segment accounted for the highest number of revenue shares in the EMEA electronic cylinder lock credential market in 2020, and it is expected to register a substantial increase in the growth rate over the forecast period. The RFID primary segment accounted for 81.2 percent of the market in 2020. The electronic key segment is estimated to register a CAGR of 8.3% over the forecast period.

The low-frequency RFID sub-segment is estimated to be the most lucrative in Europe electronic cylinder lock credentials market with an attractiveness index of 8.9. The high-frequency RFID (NFC) segment is projected to account for a revenue share of 16.5%, and register a CAGR of 7.8% by the year 2030.

In 2020, the ‘residential sector’ sub-segment accounted for a revenue share of 29.1%. Whereas, the ‘commercial sector’ sub-segment accounted for 37.5% of the global revenue in 2020, and is expected to register a CAGR of 7.9% over the forecast period.

Regional Segmentation and Analysis:

The market in Germany is expected to be the most lucrative of the electronic cylinder lock credentials industry in Europe, with an attractiveness index of 3.4, and is slated to register a CAGR of 8.5% by 2030.

The electronic cylinder lock credentials market in France is projected to contribute 16.9% to the total revenue by 2030, registering a CAGR of 7.4%.

The GCC market is estimated to contribute 46.7% revenue share in 2020 and is expected to register a CAGR of 6.0% during the forecast period.

Segmentation of the EMEA Electronic Cylinder Lock Credential Market:

Based on Product Type:

• Electronic Key
• RFID Key
• Key Fob & Badge

Based on Technology:

• Low-Frequency RFID
• High-Frequency RFID (NFC)
• Other Technologies

Based on Application:

• Commercial Sector
• Residential Sector
• Industrial Sector
• Government

Based on Region:

• Europe
• MEA

Key Players:

• Assa Abloy AB
• Allegion plc
• dormakaba Holding AG
• SALTO Systems
• Lowe & Fletcher Group (Lowe & Fletcher Inc.)
• Iseo Serrature (Locken)
• iLOQ Ltd.
• Ed. Schulte GmbH
• Videx Inc. (CyberLock Inc.)
• Yebotech

For the EMEA Electronic Cylinder Lock Credential Market research study, the following years have been considered to estimate the market size: