Global Smart Lock Market to represent a significant expansion at 13.46% CAGR forecast by 2026

Author: Onkar Nimbalkar

Definition:

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.

Analysis of Global Smart Lock Market report:

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.

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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.

Leading Key players profiled in this report are:

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.

Global Smart Lock Market Segmentation:

  • 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.

Competitive Analysis:

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.

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The Global Smart Lock Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Smart Lock Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.

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