Electric Strikes Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
Between 2018 and 2022, the market demonstrated a remarkable annual growth rate, with key players leveraging smart technologies like cloud connectivity and remote access. The shift towards automated security systems in both residential and commercial properties played a major role in driving the market's expansion. Increasing concerns regarding unauthorized access and the need for more advanced locking mechanisms led to electric strikes gaining prominence. This, coupled with the adoption of internet-connected devices and IoT-based security systems, fueled the market’s growth trajectory. However, challenges such as installation costs and the need for skilled labor occasionally hampered the widespread implementation of electric strikes in some regions.
Looking ahead to 2023 to 2033, the demand for electric strikes is expected to accelerate, propelled by several factors, including the growing trend of smart cities and the continuous shift towards automation in the security sector. Key industry trends suggest that the integration of AI-driven access control, advancements in cloud-based security systems, and the emphasis on contactless solutions will significantly shape the market. The expected rise in residential, commercial, and industrial building constructions, along with a growing awareness of security, will likely result in an increased demand for electric strikes in the coming years. It is also anticipated that regions in emerging markets will witness a sharp rise in electric strike adoption due to rapid urbanization, security investments, and infrastructure development.
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The Electric Strikes market has seen substantial growth from 2018 to 2022, driven by advancements in security infrastructure, increased adoption of electronic access systems, and rising security concerns across both residential and commercial sectors. As per market observations, this period witnessed technological improvements such as biometric integration, better durability, and enhanced reliability in electric strikes, fostering the adoption of these systems in a wide range of applications. Additionally, the increasing need for secure and efficient access control systems in commercial properties, institutions, and government buildings has propelled the demand for electric strikes. By 2022, global demand had surged due to the rapid urbanization, technological innovations, and more stringent security measures across various sectors.
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Openers & Closers
Assa Abloy
BSI Hardware
DynaLock Corporation
Dorcas
Hartte
Security Door Controls
FSH Fire & Security Hardware
Vsionis
IDTECK Co. Ltd
SECO-LARM
Dorma
Sprint Locks
YLI Electronic
Shenzhen Nordson Electronic
Foshan City LCJ Electric Locks Factory
Shenzhen VIANS Electric Lock
Shenzhen Gomeit Co.
Zhongshan Anxing Lock
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Strikes Market
Commercial
Industrial
Others
Based on Types the Market is categorized into Below types that held the largest Electric Strikes market share In 2023.
Holding Force: Under 500kg
Holding Force: 500-750kg
Holding Force: 750-1250kg
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Strikes Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Strikes Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Strikes Market, By Type
6. Global Electric Strikes Market, By Application
7. Global Electric Strikes Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Strikes Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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