With the emergence and long-term Impact of COVID-19, the Global Gate Openers Market is to reach USD 3.73 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Gate Openers Market is poised to raise up to USD 3.73 Billion by 2030. Gate openers are devices designed to open and close gates automatically that are commonly used for driveways, fences, and other entry points to properties. The main purpose of gate openers is to enhance security and convenience by allowing users to control access to their premises without having to manually open and close the gate. The market is poised to experience significant growth due to the rising emphasis on infrastructure development and the increasing focus on enhancing security standards through renovation and redevelopment.
Furthermore, the market is expected to be driven by the factors such as the rising introduction of cutting-edge solutions and high-quality products, along with growing concern regarding security. In addition, the rapid proliferation of smart homes is fueling the demand for gate openers, which is augmenting the market growth around the world. Smart gate openers are integrated with other smart home devices, such as security systems, lighting systems, and access control systems, to provide a seamless and secure experience for users. According to the Statista, in 2021, there were approximately 262.57 million users of smart homes were recorded around the world.
Also, the figure is constantly rising and is projected to reach 672.57 million users by 2027. Thus, these aforementioned factors are propelling the growth of the Gate Openers Market over the estimated period. Moreover, the rising incorporation of IoT and AI-based technology with automated gates, as well as the growing urbanization and infrastructure development present various lucrative opportunities over the forecast years. However, the high initial cost involved in purchase and installation, along with the security vulnerabilities are challenging the market growth throughout the forecast period of 2023-2030.
Key regions considered for Global Gate Openers Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the proliferation of security consultation firms across various states in the U.S. generating lucrative opportunities for regional market growth. The rising integration of gate openers with renewable energy sources, such as solar power, and growing concerns about security are bolstering the market demand in the region. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The increasing awareness among consumers, the ongoing global trend of urbanization, coupled with the growth of the real estate sector are significantly propelling the market demand across the region.
The global Gate Openers Market is highly competitive owing to the presence of several key manufacturers such as Assa Abloy AB (Sweden), Allegion Plc (Ireland), Somfy (Cluses, France), Came S.p.A. (Italy), FAAC SPA (Italy), Chamberlain Group (CGI) (U.S.), and others.
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Key findings of the study suggest:
- Global Gate Openers Market is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2023-2030.
- In the Product Type segment, Linear Ram emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growing concerns about security.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Product Type:
- Linear Ram
- Underground
- Articulated Ram
- Sliding
- Others
By Application:
- Residential
- Commercial
- Industrial
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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