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Wireless Door Lock System Market is Expected to Reach US$ 1,799.3 Mn by the End of 2026 - Persistence Market ResearchNEW YORK, September 6, 2018 /PRNewswire/ -- Preeminence of Wireless Door Lock System in Europe to Prevail; North America to Follow Suit, says Persistence Market Research Growing proliferation of the Internet of Things (IoT) and connected homes continue to influence the demand and sales of wireless door lock system. With digitization on the rise, the scope of application of electronic locks is likely to witness an upswing, in turn providing an optimistic growth path for wireless door lock system worldwide. (Logo: https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg ) Persistence Market Research envisages that the demand for wireless door lock system is projected to expand at an impressive CAGR of 9.7% in terms of value during the forecast period, 2018-2026. Moreover, sales of wireless door lock system are estimated to surpass US$ 1,700 Mn by the end of the assessment period, according to the report. Direct Correlation Between Macroeconomic Growth and Door Lock System to Fuel Sales Sales of door lock system are significantly influenced by macroeconomic aspects, most notably, urbanization, GDP per capita and economic growth. According to OECD analysis, the world's GDP has reflected an unswerving surge since the past year and ascendency is expected to remain persistent in the long run. Furthermore, the United Nations Department of Economics and Social Affairs has revealed that by 2050, approximately 68 percent of the world's population is likely to live in urban areas, up from 55 percent in 2017. Direct correlation between wireless door lock system and macroeconomic expansion is expected to auger well for stakeholders in the global market, on the back of growing demand from the rapidly expanding construction sector and electronic industry. Steadiness in residential and commercial construction projects, particularly in emerging economies of Asia Pacific and developed countries in Europe is likely to pave potential growth pathways for wireless door lock system manufacturers. Request Sample Report @ https://www.persistencemarketresearch.com/samples/24184 Up Gradation to Smart Homes Offering Potential Opportunities for Wireless Door Lock System Manufacturers Sales of wireless door lock system is likely to increase with growing demand for smart homes. With smart home demand remaining renascent in developed countries, regions such as North America and Europe are expected to emerge as lucrative markets fr wireless door lock system. This growth in demand is also augmented with rising smartphone use. On the back of growing GDP per capita, individuals are more inclined towards the use of systems with enhanced security features integrated in their smart homes. Against this backdrop, manufacturers of electronic locks are focused on product innovations, in turn fueling demand for wireless door lock system. Wireless Door Lock System Market Research Report Overview @ https://www.persistencemarketresearch.com/market-research/wireless-door-lock-system-market.asp Innovation as a Means of Sustenance Inducing Novelties in Wireless Door Lock Systems In the wake of technological advancements, manufacturers of wireless door lock system are innovating their products in a bid to enhance customer experience. Significant increase in the demand for wireless door lock systems have triggered companies to invest substantially in development initiatives to launch novel product additions. For instance, in 2017, Brinks Incorporated introduced a wireless door lock system that uses solar power and is integrated with Amazon Echo voice control feature. Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/24184 Sales of wireless door lock system in the commercial sector are anticipated to increase at a significant pace during the period of forecast. The report envisages that the wireless door lock system sales in the commercial sector are estimated to cross US$ 900 Mn by the end of the assessment year. However, the demand for wireless door lock system from the residential sector is projected to expand at a relatively high rate as compared to other end use sectors. Developed countries of Europe - particularly Germany and the United Kingdom - are likely to showcase increased adoption of wireless door lock system. Sales of wireless door lock system in this region is expected to touch US$ 615 Mn by 2026 end, closely followed by North America. Get full Report Now: https://www.persistencemarketresearch.com/checkout/24175 More from PMR's Industrial Automation Market Intelligence:
Persistence Market Research Overview Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes. Contact PMR Latest News: https://www.persistencemarketresearch.com/news SOURCE Persistence Market Research Pvt. Ltd. 
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