Latin America Smart Locks Market is forecasted to grow at 12.7% with factors such as the growing adoption rate of IT connected security devices.
Smart lock market has shown an exceptional penetration in countries such as Brazil, Argentina and Rest of Latin America due to huge investments in smart homes construction. In countries, strong distribution network including multi-brand stores and online retailers is creating opportunity for the Latin America smart locks market.
Smart locks Market Scenario
According to Data Bridge Market Research, the market for smart locks in Brazil country has the highest market share followed by Argentina and Rest of Latin America. Market leader is SAMSUNG SDS., which accounts an estimated market share of approximately 12% to 15% in the Latin America smart lock market. The company has gained outstanding sale through innovative smart lock products for commercial places. For instance,
- In 2021 May, SAMSUNG SDS has decided to expand its intelligent AI contact center business which helps to maintain security of data. This development helps the company to increase revenue.
Trends Impacting the Market
Now the question is which other countries SAMSUNG SDS., Onity (a Subsidary of Carrier) and igloocompany Pte Ltd. are targeting? Data Bridge Market Research has forecasted a large growth in Brazil smart locks market and the market leaders are targeting Argentina to be their next revenue pockets for 2021.
The smart lock market is becoming more competitive every year with companies such as SAMSUNG SDS., Onity (a Subsidary of Carrier) and igloocompany Pte Ltd. as they are the market leaders for smart lock. The data bridge market research new reports highlight the major growth factors and opportunities in the smart locks market.
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Smart Locks Market Development
- In 2020 June, Kwikset brand of Spectrum Brands, Inc. have decided to introduce Halo Touch Wi-Fi Smart Lock at CES 2020. Using the latest technology to create a convenient and secure smart home experience, Halo Touch Smart Lock provides homeowners access to their home via fingerprint. This development helps the company to increase revenue.
Scope of the Smart Locks Market
Latin America smart locks market is segmented on the basis of countries into the Brazil, Argentina and Rest of Latin America.
All country based analysis of smart locks market is further analyzed based on further segmentation. On the basis of type, the Latin America smart locks market is segmented into deadbolts, lever handles, padlocks and other locks. On the basis of communication protocol, the Latin America smart locks market is segmented into bluetooth, Wi-Fi and other protocols. On the basis of application, the Latin America smart locks market is segmented into commercial, residential, institution & government and industrial.
To know more about the study https://www.databridgemarketresearch.com/reports/latin-america-smart-lock-market
Key Pointers Covered in Smart Locks Market Industry Trends and Forecast to 2028
- Market Size
- Market Standards and Changes
- Market Trials in Different Regions
- Market Requirements in Different Regions
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Recent Market Value for Different regions
- Sales Data for Market Competitors
- Key Vendors and Disruptors Study
- Supply Chain Competiveness
Key Market Competitors Covered in the Report
- Onity (a Subsidiary of Carrier)
- GANTNER Electronic GmbH
- CANDY HOUSE, INC.
- Spectrum Brands, Inc.
- Master Lock Company LLC.
- Avent Security.
- SAMSUNG SDS.
- igloocompany Pte Ltd.
Above are the key players covered in the report, to know about more and exhaustive list of smart locks companies, contact us https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=latin-america-smart-lock-market
Research Methodology: Latin America Smart Locks Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed 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 enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Primary Respondents
- Demand Side: Commercial industry
- Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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