Smart Door Lock Market Outline:
Smart locks are electronic locks installed in doors, which can be managed through various applications on users’ smartphones. These locks can be operated through Wi-Fi, Bluetooth or both. The smart locks industry is expected to grow at a rapid pace due to growing concerns about security and privacy, advances in wireless communications technologies, increased consumer disposable income, increased urbanization and growing need to establish connectivity between electronic equipment in the house. In addition, the reduction of cloud infrastructure and broadband services, as well as the greater ease of remote control of the home also contributed to the growth of the electronic locks market.
Smart Door Lock Market Size Analysis:
In 2016, the global Smart Door Lock market size was xx million USD, and it will be xx million USD in 2022, with a CAGR of xx% between 2016 and 2022.
Smart Door Lock Market Drivers and Restraints:
The growing need for automatic unlocking mechanisms and the increased demand for intelligent security solutions should drive market growth. According to data published by the FBI on crime statistics in 2015, the crime rate against property in the United States was 2,487.0 crimes per 100,000 inhabitants and the rate of violent crime increased by 3% compared to the previous year. In such a scenario, smart locks prevent theft, shocks and the selection of locks on residential properties. Smart locks manufacturers are now targeting developing countries, such as India and China, as potential markets, due to the greater penetration of smart locks in the global market. However, the high cost of intelligent locking devices and the lack of knowledge hinder the growth of the market.
Smart Door Lock Market Regional Analysis:
It is expected that the North American Smart locks market will provide beneficial growth opportunities during the forecast period, thanks to a well-established technological infrastructure, strong consumer awareness and increased security. Increase in public support and important investments of the main actors in the IoT. In North America, the United States dominates most of the market for smart locks. The Asia-Pacific region is expected to experience the fastest growth in the near future due to increased urbanization and disposable income, increased awareness of automated solutions, increased penetration of Internet services, technological advances, Communication and broadband services, and smart lock domestic market positive trend in the Indian and Chinese markets.
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Key Takeaways from this Report:
- For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
Smart Door Lock Market Major Vendors:
ASSA ABLOY AB, August Home, Honeywell International Inc., Haven Lock, Inc., Samsung SDS Co. Ltd., Panasonic Corporation, Spectrum Brands, Inc., Schlage, Vivint, Inc., and UniKey Technologies Inc. are the major players of the market.
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