Global Smart Lock Market By Market Type (Deadbolt, Lever/Knob, Padlocks, Other Locks), Unlocking Mechanism (Keypad, App Based, Hybrid/Integrated, Touch To Open), Communication (Bluetooth, Wi-Fi, Other Protocols), Application (Industrial, Residential, Institution & Government, Commercial), Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East And Africa) Industry Trends and Forecast to 2025
Market Analysis: Global Smart Lock Market
The smart lock market is expected to reach USD 2.91 billion by 2025 from USD 1.13 billion in 2017 and is projected to grow at a CAGR of 13.46% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Smart Lock Market
The smart lock is the lock technology containing of locks that can be functioned with the help of alternative means such as remote control and provides the user with alerts and track data about who entered or left. The market has extended at a promising pace in the past few years due to the development of mobile computing devices and telecommunication networks. The rising focus and investments into smart city infrastructure have massively improved and has aided in overall development of the global smart locks market.It is totally fragmented due to presence of maximum players in most of the regions across the globe. The smart lock market is investing hugely in the activities of research and development so as to bring about product development to proceed in the market. In addition to that, the widespread prevalence of smart lock home facilities together with the unprecedented proliferation of smartphone in the market.
In 2017, Panasonic to launch intelligent smartphones, where its introduce the smart lock technology to expand its market volume and customer preference.
In 2018, Samsung SDS Launches Korea's First Wi-Fi Integrated IoT Smart Door Lock. It introduces the latest version of security and convenience.
Market Drivers and Restraints:
- Increasing demand in the field of mobile computing devices and telecommunication networks.
- Growing demand in Hospitality management.
- Rising focus and investments into smart city infrastructure.
- Rapidly applicable in residential and commercial construction sector.
- Distortion due to high cost of establishment.
Market Segmentation: Global Smart Lock Market
The market is based on Market type, Unlocking Mechanism, communication, Application and geographical segments.
Based on Market type, the market is segmented into Deadbolt, Lever/Knob, Padlocks, Other Locks.
Based on Unlocking Mechanism, the market is segmented into Keypad, App Based, Hybrid/Integrated, Touch to Open.
Based on Communication, Bluetooth, Wi-Fi, Other Protocols.
Based on Application, Industrial, Residential, Institution & Government, Commercial.
Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Smart Lock Market
The global Smart Lock market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of Smart Lock market for global, Europe, North America, Asia Pacific and South America.
In 2017 , Allegion to Launch Revamped Locknetics Product Line. Its valuable for increase market share along with new technology based product which leads in market penetration
Key Players: Global Smart Lock Market
The renowned players in global smart lock market are ASSA ABLOY 2018, Allegion plc, dormakaba Holding, Spectrum Brands, Inc., Onity, Cansec Systems Ltd., Master Lock Company LLC. , Safewise. , Spectrum Brands, Inc. , Schlage , Assa Abloy Group, Havenlock Inc. , Home Inc., Kwikset, Vivint Inc., Apigy Inc.,Schlage, Samsung Sdsco. Ltd and many more.
Research Methodology: Global Smart Lock Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an analyst call or can drop down your inquiry.
Demand Side Primary Contributors:
OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors:
Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other.