Global Smart Lock Market, By Type (Deadbolt, Lever Handles, Padlock, Others), Communication Protocol (Bluetooth, Wi-Fi, Others), Application (Commercial, Residential, Industrial, Government Institution, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The smart lock market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 13.46% in the above-mentioned forecast period.
Smart lock are basically electromechanical device that allows users to unlock their device remotely and comes with inbuilt Wi-Fi or Bluetooth. It allows us to monitor our device at all times and have enhanced security features and tons of customizations. It also offers several customized entry and exit options through fingerprint, face unlock, through our smart phones or even gestures.
The factors such as rise of IoT and growing demand of services across the world is the major factors fostering the growth of the market. Additionally, the growing adoption of smart and connected devices and implementation of complex technologies to introduce innovative locking and unlocking mechanisms, also further carve the way for the growth of market. However, the concerns about privacy invasion and high initial cost of device might impede the growth of market within the forecast period.
The large investments in research and development and growing popularity of smart homes is estimated to generate growth opportunities in the long run. The dearth of awareness and outlook of consumers related to power failure or hacking pose as a challenge for the market.
This smart lock market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart lock market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Lock Market Scope and Market Size
The smart lock market is segmented on the basis of type, communication protocol and application. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the smart lock market has been segmented as deadbolt, lever handles, padlock and others.
- On the basis of communication protocol, the smart lock market has been segmented as bluetooth, wi-fi and others. Others have been further segmented into Z-wave, ZigBee, thread and NFC.
- Smart lock market has also been segmented on the basis of application into commercial, residential, industrial, government institution and others. Commercial has been further segmented into retail stores and malls, hospitality, corporate and healthcare. Residential has been further segmented into condominium and individual houses. Industrial has been further segmented into oil and gas, manufacturing, energy and power, transportation and logistics and others.
Smart Lock Market Country Level Analysis
he smart lock market is segmented on the basis of type, communication protocol and application.
The countries covered in the smart lock market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart lock market owing to the high spending capacity of customers and increase in the security concerns. Asia-Pacific region is expected to score the highest CAGR owing to the rising number of residential and commercial projects as well as ongoing smart city initiatives in developing countries such as India.
The country section of the smart lock market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Lock Market Share Analysis
The smart lock market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart lock market.
The major players covered in the smart lock market report ASSA ABLOY AB, Allegion plc, dorma+kaba Holding AG, Spectrum Brands Holdings, Inc., Salto Systems S.L., Onity, Inc., Cansec Systems Ltd., GANTNER Electronic GmbH, Master Lock Company LLC, MIWA Lock Co., Samsung Electronics Co., Ltd., SentriLock, LLC, Avent Security, ADEL Group, Dessmann, Haven Lock, Inc., Gate, Shenzhen Vians Electric Lock Co., Ltd., Anviz Global, Poly-Control International ApS, August Home (US), CANDY HOUSE, Inc., Dahua Technology Co., Ltd, Amadas Inc. and LockState among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Lock Market
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