PUBLISHER: Persistence Market Research | PRODUCT CODE: 1618953
PUBLISHER: Persistence Market Research | PRODUCT CODE: 1618953
Electronic Cylinder Lock Credentials Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031
Persistence Market Research has recently released a comprehensive report on the global Electronic Cylinder Lock Credentials Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.
Key Insights:
- Electronic Cylinder Lock Credentials Market Size (2024E): US$ 673.7 Mn
- Projected Market Value (2031F): US$ 1,470.8 Mn
- Global Market Growth Rate (CAGR 2024 to 2031): 11.8%
Electronic Cylinder Lock Credentials Market - Report Scope:
The global electronic cylinder lock credentials market is a growing segment of the access control systems industry. These locks replace traditional mechanical lock cylinders with electronic-based systems that utilize advanced credentials such as RFID cards, smartphones, or biometrics for secure access. Known for their enhanced security, electronic cylinder locks prevent unauthorized access by offering programmable access restrictions and minimizing duplication risks. With their ease of use, ability to manage access remotely, and enhanced security features, these credentials are seeing high demand across commercial, residential, and industrial sectors. They account for approximately 40% of the global smart lock market share, emphasizing their strategic role within the security technology space.
Market Drivers:
The rising demand for enhanced security is a key driver fueling the electronic cylinder lock credentials market. With the increasing prevalence of smart homes and the Internet of Things (IoT), there is a notable need for advanced access control solutions to secure entryways into homes, offices, and other facilities. These electronic locks use credentials such as RFID, Bluetooth, or biometric systems, making them significantly more secure than traditional mechanical keys, which can be duplicated or lost. Furthermore, their programmability allows access to be limited to certain individuals, time periods, or restricted areas, enhancing both convenience and security.
Market Restraints:
Despite the market's robust growth prospects, certain factors act as roadblocks. One major challenge is the high cost associated with implementing and maintaining electronic cylinder lock credential systems, especially in price-sensitive markets. Additionally, challenges linked to the integration of these electronic locks with existing security infrastructure may require specialized technical expertise, which adds complexity and expense. The reliance on technology and potential concerns over cybersecurity also pose risks, as hacking or technological failures could compromise system security.
Market Opportunities:
The market presents promising opportunities for growth, driven by technological advancements and rising adoption of smart city initiatives globally. The demand for energy-efficient, programmable, and remotely managed security solutions is anticipated to escalate, creating new avenues for innovation and market penetration. Additionally, as more organizations and residential properties adopt smart home and IoT solutions, electronic cylinder lock credentials will likely see further integration into these technologies. The Indian market shows particular promise, with an anticipated growth rate of 18.6% from 2023 to 2033, demonstrating a highly lucrative area for manufacturers and investors.
Key Questions Answered in the Report:
- What are the primary factors driving the demand for electronic cylinder lock credentials?
- What technological advancements are expected to shape the market growth trajectory?
- What challenges are hampering market growth, and how are companies addressing them?
- Which regional markets are expected to dominate the global landscape?
- Who are the key players in this market, and how are they responding to competitive pressures?
Competitive Intelligence and Business Strategy:
Leading companies in the electronic cylinder lock credentials market are focusing on technological innovations and strategic acquisitions to maintain their competitive edge. Salto Systems' strategic move into the residential market with Salto Homelok and dormakaba's acquisition of Alldoorco are examples of such strategic growth initiatives. These companies are investing in R&D to develop advanced, user-friendly access solutions that address evolving consumer preferences and market demands. Moreover, partnerships with smart home system providers and technological innovations are expected to strengthen their positions in both the residential and commercial segments.
Key Companies Profiled:
- Simons Voss Technologies GmbH
- ASSA ABLOY
- Salto Systems, S.L.
- Dormakaba Holding AG
- iLOQ Limited
- C.Ed. Schulte GmbH
- WFE Technology Corp
- AIT Ltd
- Legrand
- Others
Electronic Cylinder Lock Credentials Market Segmentation:
By Product Type:
- Electronic Key (Contact based)
- RFID Key (Cards)
- Key Fob & Badge
By Technology:
- Low Frequency RFID
- High Frequency RFID (NFC)
- Other
By End User:
- Commercial Sector
- Residential Sector
- Industrial Sector
- Government
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
Table of Contents
1. Executive Summary
- 1.1. Global Market Outlook
- 1.2. Demand Side Trends
- 1.3. Supply Side Trends
- 1.4. Analysis and Recommendations
2. Market Overview
- 2.1. Market Coverage / Taxonomy
- 2.2. Market Definition / Scope / Limitations
3. Key Market Trends
- 3.1. Key Trends Impacting the Market
- 3.2. Product Innovation / Development Trends
4. Pricing Analysis
- 4.1. Pricing Analysis, By Electronic Cylinder Lock Products
- 4.2. Average Pricing Analysis Benchmark
5. Global Electronic Cylinder Lock Credentials Market Demand (Value in US$ Mn) Analysis 2019 - 2023 and Forecast, 2024 - 2031
- 5.1. Historical Market Value (US$ Mn) Analysis, 2019 - 2023
- 5.2. Current and Future Market Value (US$ Mn) Projections, 2024 - 2031
- 5.2.1. Y-o-Y Growth Trend Analysis
- 5.2.2. Absolute $ Opportunity Analysis
6. Market Background
- 6.1. Macro-Economic Factors
- 6.2. Forecast Factors - Relevance & Impact
- 6.3. Value Chain
- 6.4. COVID-19 Crisis - Impact Assessment
- 6.4.1. Current Statistics
- 6.4.2. Short-Mid-Long Term Outlook
- 6.4.3. Likely Rebound
- 6.5. Market Dynamics
- 6.5.1. Drivers
- 6.5.2. Restraints
- 6.5.3. Opportunities
7. Global Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031, By Product Type
- 7.1. Introduction / Key Findings
- 7.2. Historical Market Size (US$ Mn) Analysis By Product Type, 2019 - 2023
- 7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Product Type, 2024 - 2031
- 7.3.1. Electronic Key (Contact based)
- 7.3.2. RFID Key (Cards)
- 7.3.3. Key Fob & Badge
- 7.4. Market Attractiveness Analysis By Product Type
8. Global Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031, By Technology
- 8.1. Introduction / Key Findings
- 8.2. Historical Market Size (US$ Mn) Analysis By Technology, 2019 - 2023
- 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Technology, 2024 - 2031
- 8.3.1. Low Frequency RFID
- 8.3.2. High Frequency RFID (NFC)
- 8.3.3. Other
- 8.4. Market Attractiveness Analysis By Technology
9. Global Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031, By End User
- 9.1. Introduction / Key Findings
- 9.2. Historical Market Size (US$ Mn) Analysis By End User, 2019 - 2023
- 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2024 - 2031
- 9.3.1. Commercial Sector
- 9.3.2. Residential Sector
- 9.3.3. Industrial Sector
- 9.3.4. Government
- 9.4. Market Attractiveness Analysis By End User
10. Global Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031, by Region
- 10.1. Introduction / Key Findings
- 10.2. Historical Market Size (US$ Mn) Analysis By Region, 2019 - 2023
- 10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2024 - 2031
- 10.3.1. North America
- 10.3.2. Latin America
- 10.3.3. Europe
- 10.3.4. East Asia
- 10.3.5. South Asia Pacific
- 10.3.6. Middle East and Africa
- 10.4. Market Attractiveness Analysis By Region
11. North America Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 11.1. Introduction
- 11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 11.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 11.3.1. By Product Type
- 11.3.2. By Technology
- 11.3.3. By End User
- 11.3.4. By Country
- 11.3.4.1. U.S.
- 11.3.4.2. Canada
- 11.4. Market Attractiveness Analysis
- 11.4.1. By Product Type
- 11.4.2. By Technology
- 11.4.3. By End User
- 11.4.4. By Country
- 11.5. Market Trends
- 11.6. Key Market Participants - Intensity Mapping
12. Latin America Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 12.1. Introduction
- 12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 12.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 12.3.1. By Product Type
- 12.3.2. By Technology
- 12.3.3. By End User
- 12.3.4. By Country
- 12.3.4.1. Brazil
- 12.3.4.2. Mexico
- 12.3.4.3. Rest of Latin America
- 12.4. Market Attractiveness Analysis
- 12.4.1. By Product Type
- 12.4.2. By Technology
- 12.4.3. By End User
- 12.4.4. By Country
13. Europe Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 13.1. Introduction
- 13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 13.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 13.3.1. By Product Type
- 13.3.2. By Technology
- 13.3.3. By End User
- 13.3.4. By Country
- 13.3.4.1. Germany
- 13.3.4.2. Italy
- 13.3.4.3. France
- 13.3.4.4. U.K.
- 13.3.4.5. Spain
- 13.3.4.6. BENELUX
- 13.3.4.7. Russia
- 13.3.4.8. Rest of Europe
- 13.4. Market Attractiveness Analysis
- 13.4.1. By Product Type
- 13.4.2. By Technology
- 13.4.3. By End User
- 13.4.4. By Country
14. South Asia & Pacific Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 14.1. Introduction
- 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 14.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 14.3.1. By Product Type
- 14.3.2. By Technology
- 14.3.3. By End User
- 14.3.4. By Country
- 14.3.4.1. India
- 14.3.4.2. Indonesia
- 14.3.4.3. Malaysia
- 14.3.4.4. Singapore
- 14.3.4.5. Australia & New Zealand
- 14.3.4.6. Rest of South Asia and Pacific
- 14.4. Market Attractiveness Analysis
- 14.4.1. By Product Type
- 14.4.2. By Technology
- 14.4.3. By End User
- 14.4.4. By Country
15. East Asia Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 15.1. Introduction
- 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 15.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 15.3.1. By Product Type
- 15.3.2. By Technology
- 15.3.3. By End User
- 15.3.4. By Country
- 15.3.4.1. China
- 15.3.4.2. Japan
- 15.3.4.3. South Korea
- 15.4. Market Attractiveness Analysis
- 15.4.1. By Product Type
- 15.4.2. By Technology
- 15.4.3. By End User
- 15.4.4. By Country
16. Middle East and Africa Electronic Cylinder Lock Credentials Market Analysis 2019 - 2023 and Forecast 2024 - 2031
- 16.1. Introduction
- 16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019 - 2023
- 16.3. Current and Future Market Size (US$ Mn) Forecast By Market Taxonomy, 2024 - 2031
- 16.3.1. By Product Type
- 16.3.2. By Technology
- 16.3.3. By End User
- 16.3.4. By Country
- 16.3.4.1. GCC Countries
- 16.3.4.2. Turkey
- 16.3.4.3. South Africa
- 16.3.4.4. Rest of Middle East and Africa
- 16.4. Market Attractiveness Analysis
- 16.4.1. By Product Type
- 16.4.2. By Technology
- 16.4.3. By End User
- 16.4.4. By Country
17. Key Countries Analysis- Electronic Cylinder Lock Credentials Market
- 17.1. U.S. Electronic Cylinder Lock Credentials Market Analysis
- 17.1.1. By Product Type
- 17.1.2. By Technology
- 17.1.3. By End User
- 17.2. Canada Electronic Cylinder Lock Credentials Market Analysis
- 17.2.1. By Product Type
- 17.2.2. By Technology
- 17.2.3. By End User
- 17.3. Mexico Electronic Cylinder Lock Credentials Market Analysis
- 17.3.1. By Product Type
- 17.3.2. By Technology
- 17.3.3. By End User
- 17.4. Brazil Electronic Cylinder Lock Credentials Market Analysis
- 17.4.1. By Product Type
- 17.4.2. By Technology
- 17.4.3. By End User
- 17.5. Germany Electronic Cylinder Lock Credentials Market Analysis
- 17.5.1. By Product Type
- 17.5.2. By Technology
- 17.5.3. By End User
- 17.6. Italy Electronic Cylinder Lock Credentials Market Analysis
- 17.6.1. By Product Type
- 17.6.2. By Technology
- 17.6.3. By End User
- 17.7. France Electronic Cylinder Lock Credentials Market Analysis
- 17.7.1. By Product Type
- 17.7.2. By Technology
- 17.7.3. By End User
- 17.8. U.K. Electronic Cylinder Lock Credentials Market Analysis
- 17.8.1. By Product Type
- 17.8.2. By Technology
- 17.8.3. By End User
- 17.9. Spain Electronic Cylinder Lock Credentials Market Analysis
- 17.9.1. By Product Type
- 17.9.2. By Technology
- 17.9.3. By End User
- 17.10. BENELUX Electronic Cylinder Lock Credentials Market Analysis
- 17.10.1. By Product Type
- 17.10.2. By Technology
- 17.10.3. By End User
- 17.11. Russia Electronic Cylinder Lock Credentials Market Analysis
- 17.11.1. By Product Type
- 17.11.2. By Technology
- 17.11.3. By End User
- 17.12. Rest of Europe Electronic Cylinder Lock Credentials Market Analysis
- 17.12.1. By Product Type
- 17.12.2. By Technology
- 17.12.3. By End User
- 17.13. China Electronic Cylinder Lock Credentials Market Analysis
- 17.13.1. By Product Type
- 17.13.2. By Technology
- 17.13.3. By End User
- 17.14. Japan Electronic Cylinder Lock Credentials Market Analysis
- 17.14.1. By Product Type
- 17.14.2. By Technology
- 17.14.3. By End User
- 17.15. South Korea Electronic Cylinder Lock Credentials Market Analysis
- 17.15.1. By Product Type
- 17.15.2. By Technology
- 17.15.3. By End User
- 17.16. India Electronic Cylinder Lock Credentials Market Analysis
- 17.16.1. By Product Type
- 17.16.2. By Technology
- 17.16.3. By End User
- 17.17. Malaysia Electronic Cylinder Lock Credentials Market Analysis
- 17.17.1. By Product Type
- 17.17.2. By Technology
- 17.17.3. By End User
- 17.18. Indonesia Electronic Cylinder Lock Credentials Market Analysis
- 17.18.1. By Product Type
- 17.18.2. By Technology
- 17.18.3. By End User
- 17.19. Singapore Electronic Cylinder Lock Credentials Market Analysis
- 17.19.1. By Product Type
- 17.19.2. By Technology
- 17.19.3. By End User
- 17.20. Australia and New Zealand Electronic Cylinder Lock Credentials Market Analysis
- 17.20.1. By Product Type
- 17.20.2. By Technology
- 17.20.3. By End User
- 17.21. GCC Countries Electronic Cylinder Lock Credentials Market Analysis
- 17.21.1. By Product Type
- 17.21.2. By Technology
- 17.21.3. By End User
- 17.22. Turkey Electronic Cylinder Lock Credentials Market Analysis
- 17.22.1. By Product Type
- 17.22.2. By Technology
- 17.22.3. By End User
- 17.23. South Africa Electronic Cylinder Lock Credentials Market Analysis
- 17.23.1. By Product Type
- 17.23.2. By Technology
- 17.23.3. By End User
- 17.24. Rest of Middle East and Africa Electronic Cylinder Lock Credentials Market Analysis
- 17.24.1. By Product Type
- 17.24.2. By Technology
- 17.24.3. By End User
18. Market Structure Analysis
- 18.1. Market Analysis by Tier of Companies
- 18.2. Market Share Analysis of Top Players
- 18.3. Market Presence Analysis
19. Competition Analysis
- 19.1. Competition Dashboard
- 19.2. Competition Benchmarking
- 19.3. Competition Deep Dive
- 19.3.1. Simons Voss Technologies GmbH
- 19.3.1.1. Business Overview
- 19.3.1.2. Solution Portfolio
- 19.3.1.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.1.4. Key Strategy & Developments
- 19.3.2. ASSA ABLOY
- 19.3.2.1. Business Overview
- 19.3.2.2. Solution Portfolio
- 19.3.2.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.2.4. Key Strategy & Developments
- 19.3.3. Salto Systems, S.L.
- 19.3.3.1. Business Overview
- 19.3.3.2. Solution Portfolio
- 19.3.3.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.3.4. Key Strategy & Developments
- 19.3.4. Dormakaba Holding AG
- 19.3.4.1. Business Overview
- 19.3.4.2. Solution Portfolio
- 19.3.4.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.4.4. Key Strategy & Developments
- 19.3.5. iLOQ Limited
- 19.3.5.1. Business Overview
- 19.3.5.2. Solution Portfolio
- 19.3.5.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.5.4. Key Strategy & Developments
- 19.3.6. C.Ed. Schulte GmbH
- 19.3.6.1. Business Overview
- 19.3.6.2. Solution Portfolio
- 19.3.6.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.6.4. Key Strategy & Developments
- 19.3.7. WFE Technology Corp
- 19.3.7.1. Business Overview
- 19.3.7.2. Solution Portfolio
- 19.3.7.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.7.4. Key Strategy & Developments
- 19.3.8. AIT Ltd
- 19.3.8.1. Business Overview
- 19.3.8.2. Solution Portfolio
- 19.3.8.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.8.4. Key Strategy & Developments
- 19.3.9. Legrand
- 19.3.9.1. Business Overview
- 19.3.9.2. Solution Portfolio
- 19.3.9.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.9.4. Key Strategy & Developments
- 19.3.10. Others
- 19.3.10.1. Business Overview
- 19.3.10.2. Solution Portfolio
- 19.3.10.3. Profitability by Market Segments (Business Segments/Region)
- 19.3.10.4. Key Strategy & Developments
- 19.3.1. Simons Voss Technologies GmbH
20. Assumptions and Acronyms Used
21. Research Methodology
