The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Oct. 5, 2023 /PRNewswire/ -- As per The Business Research Company's Gate Openers Global Market Report 2023, the global gate openers market is experiencing significant growth, with projections indicating an increase from $1.46 billion in 2022 to $1.55 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.7%. This upward trajectory is expected to continue, with the gate openers market size reaching $1.89 billion in 2027 at a CAGR of 5.1%. The surge in demand is attributed to the rising popularity of home automation, which enhances convenience and security for homeowners.
Driving Force: Home Automation
The surge in home automation is a key driver propelling the gate openers market's growth. Home automation involves the integration of hardware, communication systems, and electronic interfaces, connecting everyday devices over the internet. This network enables users to control their homes remotely via smartphones or tablets, streamlining routine tasks and enhancing comfort and convenience. Gate openers integrated into home automation systems provide advanced control over gates, enabling remote access control for arrivals, departures, and visitor management.
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Global Adoption of Smart Homes
Smart homes have become the norm, with over 54% of US households already equipped with at least one smart home device in 2022. This trend is driven by the ease of use, extreme convenience, and heightened security that smart home gadgets offer. Similar adoption rates have been observed in the UK (50%), Germany (40%), and France (38%). The increasing popularity of home automation is expected to continue driving the gate openers market's growth.
Gate Openers Market Competitive Landscape
The global gate openers market is characterized by fragmentation, with a multitude of players in the industry. In 2021, the top ten competitors collectively accounted for 16.77% of the total market share. Chamberlain Group emerged as the largest competitor, holding a 6.58% market share, followed by Overhead Door Corporation, Assa Abloy AB, The Nice Group, Hy-Security Gate Inc., DoorKing Inc., Bisen Smart Access Co Ltd., Zhejiang Xianfeng Machinery Co Ltd., FAAC SPA, and USAutomatic LLC.
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Product Innovation for Enhanced Security
Companies in the gate openers market are actively focusing on product innovation to provide durable and reliable security solutions. For example, in February 2023, Nice, an Italy-based manufacturer specializing in smart home, security, and building automation solutions, announced the launch of the next-generation SlideDriver II hydraulic gate operator, developed in partnership with HySecurity, a leading US-based provider of automated gate and perimeter security solutions. The SlideDriver II incorporates HySecurity's latest SmartTouch 725 control board technology, reinforcing the commitment to excellence in delivering security solutions for sensitive perimeters.
Gate Openers Market Segmentation
The global gate openers market is segmented based on:
- Type: Sliding Gate Opener, Swing Gate Opener, and Other Types.
- Product Type: Linear Ram, Underground, Articulated Ram, Sliding, and Other Product Types.
- Application: Residential, Commercial, Industrial, and Other Applications.
Swing Gate Opener Segment Shows High Growth Potential
The swing gate opener segment is poised for significant growth, with projections indicating an increase of $356.2 million in global annual sales by 2027.
The gate openers market report offers valuable insights into market dynamics, technological advancements, and key growth factors, making it an essential resource for stakeholders and industry participants.
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