Mechanical Locks Market Poised for Robust CAGR of Over 4.5% Through 2022
Verfasser: pradnya_86 on Friday, 22 September 2017While evaluating the security characteristics of electronic locks and mechanical locks, the latter seems to hold inferiority owing to designing flaws, large area for surface impact, and lack of provision for security upgrades. A recent study published by Future Market Insights assesses the future prospects of global market for mechanical locks. Key findings from this report reveal that by the end of 2022, around US$ 7,160 million worth of mechanical locks are anticipated to be sold across the globe. The report also forecasts that for the assessment period, 2017-2022, the global mechanical locks market is likely to attain growth at a moderate CAGR of 4.5%.
In the view of emerging technologies in the domain of physical security, the future demand for mechanical locks is less likely to witness steadfast growth. Adoption of smart locks, high-tech guarding systems, and biometric access platforms continues to surge, concurrently lowering the uptake for mechanical locks among consumers. Even as a retail commodity, mechanical locks are exhibiting a decline in terms of capturing the mass consumer appeal which continues to opt for adamantine security products.
View and Download TOC of Mechanical Locks Market Research Report@ https://www.futuremarketinsights.com/reports/mechanical-locks-market/toc
Demand for Interconnected Mechanical Locks to Remain Steady