Indoor Electromagnetic Lock: Introduction
- Indoor electromagnetic lock is an interlocking device controlled by electricity that helps to secure the doors to prevent any unauthorized entry or exit. Indoor electromagnetic locks are plated with coil and armature which helps to provide protection from corrosion and they are mostly applied to cabinet doors of high voltage switch cabinets such as glass doors, and aluminum doors.
- Rising safety and security concerns are expected to drive the indoor electromagnetic lock market during the forecast period.
Key Drivers and Opportunities of the Global Indoor Electromagnetic Lock Market
- Indoor electromagnetic locks are easy to install and sends a signal to unlock the doors when required. The doors automatically unlock during power cuts which is helpful in case of emergency; also, these type of locks work well with fingerprint scanning, key code pads, key readers, etc. Indoor electromagnetic locks are seeing high demand in commercial buildings due to rising need for safety to restrain unwanted persons from entering inside. These factors are likely to help the market grow during the forecast period.
- Durability of the product and need for low maintenance, increasing need for secured electromagnetic locks for luxurious homes, technology centers, and convention centers, has created demand for the product.
- Indoor electromagnetic locks mainly rely on electricity to provide the magnetic pull which could increase the electricity expense. Also during a power cut, the fail safe lock door automatically gets unlocked unless power backup keeps the doors closed, leading to the risk of anyone entering or leaving the premises. This is expected to hinder the growth of the market.
- Manufacturers are coming up with new innovations and technology such as low current consumption locks with dual voltage, surge and spike protection, and high durability electromagnetic locks, as per the demand of customers, which is expected to propel the market during the forecast period.
North America to Hold Major Share of the Global Indoor Electromagnetic Lock Market
- The global indoor electromagnetic lock market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominates the global indoor electromagnetic lock market due to rising residential security concerns, and increasing smart homes, as people in this region are opting for smart and automated technology to improve their standard of living.
- The market in North America is followed by the market in Asia Pacific. Rising metropolitan cities and increase in number of commercial areas in the region are expected to drive the global indoor electromagnetic lock market during the forecast period.
Key Players Operating in the Global Indoor Electromagnetic Lock Market are Listed Below:
- Assa Abloy
- Dormakaba Group
- DynaLock Corporation
- Faradays Micro Systems
- FSH, Part of Allegion plc
- ROFU Security International
- SDC-Security Door Controls
Global Indoor Electromagnetic Lock Market: Research Scope
Global Indoor Electromagnetic Lock Market, by Type
- Single Electromagnetic Lock
- Double Electromagnetic Lock
Global Indoor Electromagnetic Lock Market, by Application
- Aluminum Doors
- Glass Doors
- Metal Doors
- Wooden Doors
- Others (Electronic Locker, etc.)
Global Indoor Electromagnetic Lock Market, by Holding Force
- Up to 300 Kg
- 300 Kg to 600 Kg
- Above 600 Kg
Global Indoor Electromagnetic Lock Market, by Price
- Up to US$ 25
- US$ 25 – US$ 50
- Above US$ 50
Global Indoor Electromagnetic Lock Market, by End-user
Global Indoor Electromagnetic Lock Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Specialty Stores
- Other Retail Stores
Global Indoor Electromagnetic Lock Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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