Electronic Latching System Market – Global Industry Analysis and Forecast (2023-2029)


Electronic Latching System Market was valued $1.93 Bn in 2022 and is expected to reach $4.32 Bn by 2029, at a CAGR of 12.13% during the forecast period.

Electronic Latching System Market Introduction

The electronic latching system is an important and innovative system, which is widely used in different countries across the world. It removes the need to carry the keys, thereby keeping those keys safe. Electronic latching systems are safer than the conventional lock system. They can be operated only by the person who has the authority of unlocking the latch. In an electronic latching system, an electric current is used for the operation of a locking device.

Internet of things is a tremendous bias where a huge abundance of sensors and appliances would be connected to the internet and interact with the cloud. Different business applications endure, such as vehicles, homes, buildings, machines, environmental sensors, and so on. IoT is growing rapidly and is estimated to comprise 18 billion connected devices by 2022.Electronic Latching System MarketTo know about the Research Methodology :- Request Free Sample Report

Electronic Latching System Market Dynamics

Awareness regarding electric smart locks is greater among consumers in higher-income segments and urban areas. Developed countries such as the U.S. are the prominent revenue generators as the regional population is increasingly aware of the connected ecosystem and is willing and able to pay a premium for comfort, luxury, and convenience. Additionally, low entry barriers such as open-source technologies are encouraging small-scale vendors to innovate their products and offer enhanced solutions to their consumers.

An electronic latching system is also used in cars as an electronic door system. The car user can lock or unlock the doors of the car from some distance as well. There is no need to physically insert the key. In addition, there is the development of smart homes in many countries across the globe. Electronics are an important factor in these smart home projects. Most of the things involved in smart homes are based on electronics. This could be the key driving factor for the growth of the electronic latching system market.

Electronic Latching System Market Segment Analysis

Automotive electronic locking systems are locking systems that allow the driver or the front occupant to lock or unlock all the doors in the vehicle simultaneously by the press of a button or the flip of a switch. Almost all cars being manufactured currently are fitted with a central locking system, which unlocks everything from the luggage compartment to the fuel filter cap door. In many modern cars, the door automatically locks when it is put into gear or reaches a certain speed.

Most suburban utility vehicles and crossovers offer some advantages such as better efficiency, lightweight equipment, and three-row seating facility, which has propelled the demand for such vehicles, and in turn, increased the demand for advanced locking systems. In 2018, the major German supplier of latch, Kiekert unveiled an electric release latch named NuEntry, which uses exterior touch sensors that enable users to open the door with a fingertip or smartphone. The company also plans to introduce components to control vehicle access, prevent dings, and open and close vehicle doors automatically for autonomous vehicles market.

Regional Insights

North America dominated the global market in 2022, accounting for a significant share of xx%, owing to the technological advancement and presence of well-established manufacturers in the region, particularly in the U.S. The U.S. is a key market in North America due to the increasing number of smart homes which generates demand for electronic latching systems in the country.

The market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This can be attributed to growing awareness, increased government initiatives, rise in disposable income of consumers, increasing industrialization, and rapid urbanization, and high demand for advanced security solutions in the region.

Electronic Latching System Market Scope: Inquire before buying






Electronic Latching System Market




Base Year
2022
Forecast Period
2023-2029




Historical Data
CAGR
Market Size in 2022
Market Size in 2029




2018 to 2022
12.13%
US$ 1.93 Bn
US$ 4.32 Bn




Segments Covered




by Product
Door Electronic Latching Systems
Vehicle Electronic Latching Systems
by Authentication Method 
Passwords
Security Tokens
Biometrics
RFID
by Application
Vehicles
Doors
Smart Homes




Regions Covered




North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America






Key Players:

1. Aisin Seiki Co., Ltd
2. Mitsui Mining and Smelting Co., Ltd
3. Kiekert AG
4. Magna International, Inc.
5. Strattec Security Corporation
6. Brose Fahrzeugteile GmbH & Co
7. U-Shin, Ltd
8. Shivani Locks Pvt. Ltd
9. Inteva Products, LLC
10. Minda VAST Access Systems Pvt. Ltd.
11. COMITRONIC - BTI
12. EMKA Beschlagteile GmbH & Co. KG
13. Item Industrietechnik GmbH
14. Rahrbach GmbH
15. Southco Solutions
16. TAI SAM CORPORATION
17. Tec Tor
18. Harper Engineering Company
19. C.Ed. Schulte GmbH
20. Zylinderschlossfabrik

Frequently Asked questions

1. What is the market size of the Global Electronic Latching System Market in 2022?
Ans. The market size Global Electronic Latching System Market in 2022 was US$ 1.93 Billion.

2. What are the different segments of the Global Electronic Latching System Market ?
Ans. The Global Electronic Latching System Market is divided into Product, Application and Authentication Method.

3. What is the study period of this market?
Ans. The Global Electronic Latching System Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Electronic Latching System Market share?
Ans. The Asia Pacific dominates the market share in the market.

5. What is the Forecast Period of Global Electronic Latching System Market ?
Ans. The Forecast Period of the market is 2023-2029 in the market. 




1. Preface
1.1. Market Definition and Key Research Objectives
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations
2.3. Research Methodology
2.3.1. Secondary Research
2.3.1.1. Secondary data
2.3.1.2. Secondary Sources
2.3.2. Primary Research
2.3.2.1. Data from Primary Sources
2.3.2.2. Breakdown of Primary Sources
3. Executive Summary: Global Electronic Latching System Market Size, by Market Value (US$ Mn)
3.1. Global Market Segmentation
3.2. Global Market Segmentation Share Analysis, 2022
3.2.1. Global
3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
3.3. Geographical Snapshot of the Electronic Latching System Market
3.4. Geographical Snapshot of the Electronic Latching System Market, By Manufacturer share
4. Global Electronic Latching System Market Overview, 2022-2029
4.1. Market Dynamics
4.1.1. Drivers
4.1.1.1. Global
4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
4.1.2. Restraints
4.1.2.1. Global
4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
4.1.3. Opportunities
4.1.3.1. Global
4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
4.1.4. Challenges
4.1.4.1. Global
4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa)
4.1.5. Industry Trends and Emerging Technologies
4.1.6. Porters Five Forces Analysis
4.1.6.1. Threat of New Entrants
4.1.6.2. Bargaining Power of Buyers/Consumers
4.1.6.3. Bargaining Power of Suppliers
4.1.6.4. Threat of Substitute Products
4.1.6.5. Intensity of Competitive Rivalry
4.1.7. Value Chain Analysis
4.1.8. Technological Roadmap
4.1.9. Regulatory landscape
4.1.10. Impact of the Covid-19 Pandemic on the Global Electronic Latching System Market
5. Supply Side and Demand Side Indicators
6. Global Electronic Latching System Market Analysis and Forecast, 2022-2029
6.1. Global Electronic Latching System Market Size & Y-o-Y Growth Analysis.
7. Global Electronic Latching System Market Analysis and Forecasts, 2022-2029
7.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
7.1.1. Door Electronic Latching Systems
7.1.2. Vehicle Electronic Latching Systems
7.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
7.2.1. Passwords
7.2.2. Security Tokens
7.2.3. Biometrics
7.2.4. RFID
7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
7.3.1. Vehicles
7.3.2. Doors
7.3.3. Smart Homes
8. Global Electronic Latching System Market Analysis and Forecasts, By Region
8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029
8.1.1. North America
8.1.2. Europe
8.1.3. Asia-Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9. North America Electronic Latching System Market Analysis and Forecasts, 2022-2029
9.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
9.1.1. Door Electronic Latching Systems
9.1.2. Vehicle Electronic Latching Systems
9.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
9.2.1. Passwords
9.2.2. Security Tokens
9.2.3. Biometrics
9.2.4. RFID
9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
9.3.1. Vehicles
9.3.2. Doors
9.3.3. Smart Homes
10. North America Electronic Latching System Market Analysis and Forecasts, By Country
10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029
10.1.1. US
10.1.2. Canada
10.1.3. Mexico
11. U.S. Electronic Latching System Market Analysis and Forecasts, 2022-2029
11.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
11.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
12. Canada Electronic Latching System Market Analysis and Forecasts, 2022-2029
12.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
12.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
13. Mexico Electronic Latching System Market Analysis and Forecasts, 2022-2029
13.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
13.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
14. Europe Electronic Latching System Market Analysis and Forecasts, 2022-2029
14.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
14.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
15. Europe Electronic Latching System Market Analysis and Forecasts, By Country
15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029
15.1.1. U.K
15.1.2. France
15.1.3. Germany
15.1.4. Italy
15.1.5. Spain
15.1.6. Sweden
15.1.7. CIS Countries
15.1.8. Rest of Europe
16. U.K. Electronic Latching System Market Analysis and Forecasts, 2022-2029
16.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
16.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
17. France Electronic Latching System Market Analysis and Forecasts, 2022-2029
17.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
17.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
18. Germany Electronic Latching System Market Analysis and Forecasts, 2022-2029
18.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
18.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
19. Italy Electronic Latching System Market Analysis and Forecasts, 2022-2029
19.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
19.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
20. Spain Electronic Latching System Market Analysis and Forecasts, 2022-2029
20.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
20.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
21. Sweden Electronic Latching System Market Analysis and Forecasts, 2022-2029
21.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
21.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
22. CIS Countries Electronic Latching System Market Analysis and Forecasts, 2022-2029
22.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
22.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
23. Rest of Europe Electronic Latching System Market Analysis and Forecasts, 2022-2029
23.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
23.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
24. Asia Pacific Electronic Latching System Market Analysis and Forecasts, 2022-2029
24.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
24.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
25. Asia Pacific Electronic Latching System Market Analysis and Forecasts, by Country
25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029
25.1.1. China
25.1.2. India
25.1.3. Japan
25.1.4. South Korea
25.1.5. Australia
25.1.6. ASEAN
25.1.7. Rest of Asia Pacific
26. China Electronic Latching System Market Analysis and Forecasts, 2022-2029
26.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
26.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
27. India Electronic Latching System Market Analysis and Forecasts, 2022-2029
27.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
27.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
28. Japan Electronic Latching System Market Analysis and Forecasts, 2022-2029
28.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
28.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
29. South Korea Electronic Latching System Market Analysis and Forecasts, 2022-2029
29.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
29.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
30. Australia Electronic Latching System Market Analysis and Forecasts, 2022-2029
30.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
30.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
31. ASEAN Electronic Latching System Market Analysis and Forecasts, 2022-2029
31.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
31.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
32. Rest of Asia Pacific Electronic Latching System Market Analysis and Forecasts, 2022-2029
32.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
32.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
33. Middle East Africa Electronic Latching System Market Analysis and Forecasts, 2022-2029
33.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
33.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
34. Middle East Africa Electronic Latching System Market Analysis and Forecasts, by Country
34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029
34.1.1. South Africa
34.1.2. GCC Countries
34.1.3. Egypt
34.1.4. Nigeria
34.1.5. Rest of ME&A
35. South Africa Electronic Latching System Market Analysis and Forecasts, 2022-2029
35.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
35.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
36. GCC Countries Electronic Latching System Market Analysis and Forecasts, 2022-2029
36.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
36.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
37. Egypt Electronic Latching System Market Analysis and Forecasts, 2022-2029
37.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
37.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
38. Nigeria Electronic Latching System Market Analysis and Forecasts, 2022-2029
38.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
38.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
39. Rest of ME&A Electronic Latching System Market Analysis and Forecasts, 2022-2029
39.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
39.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
40. South America Electronic Latching System Market Analysis and Forecasts, 2022-2029
40.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
40.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
41. South America Electronic Latching System Market Analysis and Forecasts, by Country
41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029
41.1.1. Brazil
41.1.2. Argentina
41.1.3. Rest of South America
42. Brazil Electronic Latching System Market Analysis and Forecasts, 2022-2029
42.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
42.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
43. Argentina Electronic Latching System Market Analysis and Forecasts, 2022-2029
43.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
43.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
44. Rest of South America Electronic Latching System Market Analysis and Forecasts, 2022-2029
44.1. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029
44.2. Market Size (Value) Estimates & Forecast By Authentication Method, 2022-2029
44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029
45. Competitive Landscape
45.1. Geographic Footprint of Major Players in the Global Electronic Latching System Market
45.2. Competition Matrix
45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment
45.2.2. New Product Launches and Product Enhancements
45.2.3. Market Consolidation
45.2.3.1. M&A by Regions, Investment and Verticals
45.2.3.2. M&A, Forward Integration and Backward
Integration
45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
45.3. Company Profile: Key Players
45.3.1. Aisin Seiki Co., Ltd
45.3.1.1. Company Overview
45.3.1.2. Financial Overview
45.3.1.3. Geographic Footprint
45.3.1.4. Product Portfolio
45.3.1.5. Business Strategy
45.3.1.6. Recent Developments
45.3.2. Mitsui Mining and Smelting Co., Ltd
45.3.3. Kiekert AG
45.3.4. Magna International, Inc.
45.3.5. Strattec Security Corporation
45.3.6. Brose Fahrzeugteile GmbH & Co
45.3.7. U-Shin, Ltd
45.3.8. Shivani Locks Pvt. Ltd
45.3.9. Inteva Products, LLC
45.3.10. Minda VAST Access Systems Pvt. Ltd.
45.3.11. COMITRONIC - BTI
45.3.12. EMKA Beschlagteile GmbH & Co. KG
45.3.13. Item Industrietechnik GmbH
45.3.14. Rahrbach GmbH
45.3.15. Southco Solutions
45.3.16. TAI SAM CORPORATION
45.3.17. Tec Tor
45.3.18. Harper Engineering Company
45.3.19. C.Ed. Schulte GmbH
45.3.20. Zylinderschlossfabrik
45.3.21. Other Key Players
46. Primary Key Insights
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