Smart Lock Market Research Report
(2020-2025) Provides In-Depth Analysis by Scope, Growth Rate, Driving Factors,
Competitive Situation, Top Manufacturers and Upcoming Trends. Smart Lock Market
report split global into several key Regions which mainly includes Market
Overview, Table of Content, List of Figures and Applications. Smart Lock Market
Growing at Higher CAGR Rate of XX% between (2020-2025).
Summery:-
The global Smart Lock Market is
likely to reach USD 24.20 billion by 2024, with a CAGR of 60.1% by the
completion of the prediction period. Over the past few years, smartphones have
gained importance and have been designed as pocket-sized computers. Electronic
access control has found a niche in commercial buildings, hotels, and apartment
blocks. In addition to security, Smart Locks deliver convenient access control
with voice commands and positive user experience.
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The key driving factors responsible for the growth of Smart Lock
market :
The smart lock market is driven
by the growing popularity of smart technology and surged use of smartphones.
The key factors impeding smart lock adoption in the developing countries are
its high purchasing costs and its high susceptibility to malware attacks.
Near Field Communication (NFC)
and Power over Ethernet (PoE) are gaining immense focus and is now considered
as a driving force in the next generation Internet. Today’s advanced
technologies provide keyless control via a mobile app, biometric, pin code
reader or remote control. Smart home is a major catalyst for the emergence of
digital locks and associated products to seamlessly integrate convenient
standalone access control. The marketers are striving to convince their
customers that the power supply to their new digital device is dependable and
convenient to replenish. Parks Associates in their recent survey stated that by
the end of next year, one in four households in the U.S will purchase a smart
lock. Moderate incomes and smaller houses are reaching a potential of adapting
the cost sensitivity.
Emerging entrants have already
demonstrated a huge growth traction in terms of its investments and research
activities. Latch is a startup founded in 2013 and it recently funded $70
million in their smart lock project that eases the locking mechanism with the
help of a magnetic key code or smartphone. Similarly, French startup HAVR has
launched Lifi locks, a revolutionary system that has the ability to open doors
by phone’s flashlight. Improving user experience and integrating smart locks
into residential sectors will drive growth for smart locks. Amazon and UPS
entered into a partnership to develop the Key app, which allows a delivery
person to enter buildings and condos using the smart door lock system.
Some of the major participants
operating in the smart lock market consist of, Samsung SDS Co. Ltd., Onity,
Salto Systems, Master Lock, Cansec Systems, UniKey Technologies, ASSA ABLOY AB,
Allegion, Honeywell, Haven Lock, Yale, Spectrum Brands, and among others. Due
to the rising demand for enhanced security systems, North America holds the
largest revenue share and its strong IT infrastructure is providing lucrative
opportunities for market expansion. Europe ranks second in terms of growing
urbanization and high concentration of tech-savvy population.
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Table of Contents:-
• Smart Lock Market Overview
• Smart Lock Market Competition by
Manufacturers
• Smart Lock Market Production, Revenue
(Value) by Region (2014-2025)
• Smart Lock Market Supply (Production),
Consumption, Export, Import by Regions (2014-2025)
• Smart Lock Market Production, Revenue
(Value), Price Trend by Type
• Smart Lock Market Analysis by
Application
• Smart Lock Market Manufacturers
Profiles/Analysis
• Smart Lock Market Manufacturing Cost
Analysis
• Smart Lock Market Industrial Chain,
Sourcing Strategy and Downstream Buyers
• Smart Lock Market Marketing Strategy
Analysis, Distributors/Traders
• Smart Lock Market Effect Factors
Analysis
• Smart Lock Market Research Findings
and Conclusion
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