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Market Overview of Global High Security Locks market:
According to our latest research, the global High Security Locks market looks promising in the next 5 years. As of 2022, the global High Security Locks market was estimated at USD 8660.29 million, and it's anticipated to reach USD 12743.76 million in 2028, with a CAGR of 6.65% during the forecast years.
High security locks provide additional resistance to manipulation, destructive attacks, breaching and off-site key duplication. High-security locks are defined by various Underwriters Laboratories (UL) and Building Hardware Manufacturers Association (BHMA) standards. In most cases, high-security cylinders will be installed in Grade 1 security mortise locks, auxiliary deadbolts, padlocks or multipoint locks.
The government has increased investment
The pneumonia pandemic in Covid-19 is affecting the global economy. This general situation forces enterprises to allow their employees to adopt the policy of working from home. In addition, the global information technology industry is slowing down and some manufacturing departments are closing down. However, during the epidemic, the government, Samsung Group, Yale University and other major participants concentrated on increasing investment to restore market growth. For example, in June 2020, the government science and technology plan invested about $3.5 billion to develop various security and monitoring tools in smart city projects during the pandemic. Include that intelligent High Security Locks market. It is expected that the local government's increased investment and government policies will promote the development of the High Security Locks industry.
Market Drivers
With the introduction of innovative locking/unlocking mechanisms in smartphones, tablets, intelligent key and other portable devices, the field of intelligent High Security Locks is expected to achieve tremendous growth. Especially in cloud-based lock management solutions. The growth of intelligent High Security Locks market is mainly driven by the progress of core technologies such as Internet of Things (loT), artificial intelligence, cloud applications and big data. These advanced technologies will help manufacturers develop multifunctional advanced High Security Locks, attract potential customers and speed up product sales.
Market Development Constraints
Lack of understanding of smart door locks, smart products are vulnerable to hackers, so most users have security concerns. In addition, the frequent occurrence of security incidents of smart door lock makes it the first security barrier, but due to the product quality and security of smart door lock, it is at the forefront. For example, the event of "opening the door automatically in the middle of the night" involves some brands of smart locks. These incidents have aroused public doubts about smart locks. For enterprises, solving security problems has become the focus of their attention. It is expected that the security of intelligent High Security Locks will become one of the key factors hindering market growth.
Region Overview:
From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.
Company Overview:
ASSA ABLOY, ABUS, Allegio, MIWA Lock, and Kwikset are the five key players in the global High-Security Locks market. These companies have shown consistent growth in revenue, larger volumes of sales, and a prominent presence in terms of share in the global High-Security Locks market in the past 5 years.
ASSA ABLOY
Assa Abloy AB is a Swedish conglomerate whose offerings cover products and services ranging from locks, doors, gates and entrance automation. This also includes controlling identities with keys, cards, tags, mobile and bio-metric identity verification systems.
ABUS
Abus August Bremicker Sohne KG provides security solutions. The Company offers alarm systems, door security, fire protection, locking systems, padlocks, video surveillance, and window security solutions, as well as manufactures mobile security products such as locks for bikes, cable locks, lock-chain combinations, and more.
Segmentation Overview:
Among different product types, Ordinary Locks segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Household segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global High Security Locks market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global High Security Locks Market Report:
Market Size Estimates: High Security Locks market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: High Security Locks market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the High Security Locks market
Segment Market Analysis: High Security Locks market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: High Security Locks market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the High Security Locks Market: Revenue and sales volume of major countries in each region
High Security Locks Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the High Security Locks market in major regions.
High Security Locks Industry Value Chain: High Security Locks market raw materials & suppliers, manufacturing process, distributors, downstream customers
High Security Locks Industry News, Policies & Regulations
Key players in the global High Security Locks market are covered in Chapter 12:
Locstar
Allegion
Tenon
MIWA Lock
Jiangmen Keyu Intelligence
Master Lock (Fortune Brands)
Honeywell
Samsung
Guangdong Be-Tech
Kwikset (Spectrum Brands)
ASSA ABLOY
Adel
ABUS
In Chapter 2 and Chapter 15.1, based on types, the High Security Locks market from 2018 to 2028 is primarily split into:
Electronic Cipher Locks
Fingerprint Locks
Remote Locks
Ordinary Locks
Others
In Chapter 3 and Chapter 15.2, based on applications, the High Security Locks market from 2018 to 2028 covers:
Household
Commercial
Government
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the High Security Locks market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028