Smart Handle Market Growth to Remain Steady during the Forecast Period 2017-2025

Smart Handle Market: Overview

With the growing trend of home automation, people demand every single entity in their house to be automated, be it appliances like hot water heaters and cooking utensils or even doors and windows. This growing trend of home automation has led to innovation in the smart home industry. Smart handles are used in the smart home industry. Smart handles are available in many variants. They can be in the form of a door handle and lock secured with the help of a keypad which needs a password to open the door. A smart door handle needs a smart lock to make a smart door. The growing concerns of people regarding safety have forced the manufacturers of door and door parts to level up and provide components that provide safety as well as are comfortable to use. What makes these handles smart is the use of technology in the form of Bluetooth, touchscreen, keypad or other connected devices.

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Smart handles are also a part of the automobile industry. These smart handles are used in the form of exterior door handles that comprise of a lock/ unlock sensor, transmitting antenna and sensor detection circuit. The door can be operated just by touching the electrostatic- capacitance type of sensors present in the handle. These handles are coated by chromium plating or body color paint. But the coating cannot be applied over the entire surface of the handle otherwise the electromagnetic waves are blocked from the antenna because the coating is conductive in nature.

Smart Handle Market: Drivers and Restraints

Consumers are increasingly getting interested towards optimum resource utilization and energy efficiency. In addition to that, growing concerns regarding security are key factors likely to push the growth of Smart Handle market. The push button control requirements are satisfied by the smart handles provided in the doors. With the help of touchscreen devices along with the handle, only those people can access the handle whose fingerprints are registered on the device. Hence, people can move out of their homes without having to worry about the keys. Connected devices allow the owner to access the handle of the door even by sitting very far away from the door. These factors are likely to push the growth of Smart Handles Market in the home automation industry as well as the automobile industry. Technological advancements, awareness of consumers regarding vehicle security features and vehicle security regulations are other likely factors that may drive the growth of Smart Handle Market.

The electrostatic capacitance of the sensor may be changed if any other part is touched other than the sensor. This factor may result in the lock/ unlock sensor not behaving properly. Only the coated part will function properly if this condition occurs. The extreme sensitivity of smart handles may hinder the performance of the Smart Handle Market. The high cost of these smart handles is also a likely restraining factor of the Smart Handle Market.

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Smart Handle Market: Market Segmentation

Smart Handle Market is segmented into types by application, by market type, by software and service type and by region. Based on the application type, Smart Handle Market is segmented into: Critical infrastructure, Residential, Enterprise, Hospitality, Others. Based on the market type, Smart Handle Market is segmented into: Aftermarket, OEM. Based on the software and service type, Smart Handle Market is segmented into: Proactive, Behavioral. Based on the region, Smart Handle Market is segmented into: North America, Latin America, APAC (Asia Pacific), MEA (Middle East and Africa), Europe.

Smart Handle Market: Regional Outlook

North America is expected to see a surge in demand for smart handles. According to the U.S. Bureau of Census, number of people of age above 65 was 40 million in 2010. This figure is expected to reach 88 million by 2050. Rising demand for medical care at home and home healthcare is expected to drive the market for smart handles in this region. In the Asia Pacific region, rising consumer awareness regarding the benefits of smart handles and the increasing demand for new technological advancements is likely to drive the growth of the Smart Handle Market in the Asia- Pacific region.

In the automobile sector, Asia Pacific region is expected to see a growth in the Smart Handle Market at a high CAGR. The reason behind this is that the Asia-Pacific region is the hub for the production of passenger cars and electric automobiles. This is growth is also attributed to the potential and growth of the Chinese vehicle market. High sales of automobiles in the China as well as United States region is likely to boost the demand for smart handles in these regions.

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Smart Handle Market: Key Players

Some of the major players identified in the Smart Handle Market are: ZF Friedrichshafen AG-TRW, Aisin Seiki, Silca S.p.A., Denso Corporation, Valeo, Tokai Rika, Continental AG, Hyundai MOBIS, Mitsubishi Electric, Honeywell International Inc., Vivint, Inc., Kwikset, Schlage.

Swapna work as a Sr. Digital Marketing Consultant with Persistence Market Research, an New York based market Intelligence Company which analyzes various markets and estimate the growth opportunities of the market in the future.