global market, demand for wireless electronic locks is projected to exhibit a relatively faster growth
during the forecast. On the basis of authentication method, fingerprint scanning is expected to be
the largest as well as fastest growing segment in the global electronic locks market by 2025-end.
In terms of value, commercial sector is expected to be the most lucrative end-use sector by the end
of 2025. Demand for electronic locks from this sector is projected to expand at 14.5% CAGR
during the forecast period.
Key market players identified in PMR’s report include Honeywell International, Inc., Spectrum
Brands Holdings, Inc., Assa Abloy, Cisco Systems, Inc., United Technologies Corporation, Salto
Systems S. L., Panasonic Corporation, Vanderbilt Industries, Kiekert Aktiengesellschaft, iLOQ
Limited.
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