Smart Locks Market Growth, Trends, Analysis and Industry Forecast 2017-2023 | Schlage, Honeywell International, Panasonic Corporation, Vivint

Overview of Smart Locks Market

Smart Locks Market Report forecasts that the global market size was valued at $416 million in 2016, and is estimated to reach at $1,175 million by 2023, growing at a CAGR of 16.4% from 2017 to 2023. North America accounted for around 34.6% share of the overall market revenue in 2016, owing to rise in security concerns among consumers, technological advancements, and increase in trend of smart homes. Asia-Pacific is anticipated to grow at the highest CAGR of 18.2% from 2017 to 2023.

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Smart locks are electronic locks installed on the doors, which can be operated through various apps on users smartphones. These are keyless locks that operate on either Wi-Fi, Bluetooth, or both. The smart locks industry is anticipated to grow at a significant pace, owing to increase in security & privacy concerns, advancements in wireless communication technologies, rise in disposable income of consumers, surge in urbanization, and the growth in need to establish connectivity across all the electronic equipment of the house. Furthermore, reduction in expenses of cloud infrastructure & broadband services and increase in user convenience to remotely control the house further supplemented the electronic locks market growth. Emergence of Internet of Things (IoT) and integrated connectivity & access to smart locks through smartphones, growth in implementation of advanced technology, such as near-field communication (NFC), low-power Bluetooth, and Z-wave/ZigBee, and increase in penetration of smartphones among consumers, are expected to offer potential growth opportunities to the market.

The Major players reported in the market include:

Schlage

Honeywell International Inc.

Panasonic Corporation

Vivint, Inc.

ASSA ABLOY AB

UniKey Technologies Inc.

Haven Lock, Inc.

August Home

Spectrum Brands, Inc.

Samsung SDS Co. Ltd.

KEY BENEFITS

The study provides an in-depth analysis of the Smart Locks market along with current and future trends to elucidate the imminent investment pockets.

The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.

Porter’s Five Forces and SWOT analyses of key market players in the industry have been provided to highlight the growth strategies adopted by them.

The value chain analysis of the industry signifies the key intermediaries involved, and elaborates their roles and value additions at every stage of the value chain.

The quantitative analysis of the market during the period of 2017-2023 is provided to elaborate the market potential.

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KEY MARKET SEGMENTS:

By Product

Deadbolts

Lever Handles

Padlocks

Others

By Technology

Bluetooth

Wi-Fi

By End User

Residential

Commercial

BY GEOGRAPHY

North America

Europe

Asia Pacific

Central & South America

Middle East and Africa

TABLE OF CONTENTS

CHAPTER 1 INTRODUCTION

CHAPTER 2 EXECUTIVE SUMMARY

CHAPTER 3 MARKET OVERVIEW

CHAPTER 4 WORLD SMART LOCKS MARKET, BY END USER

CHAPTER 5 WORLD SMART LOCKS MARKET, BY APPLICATION

CHAPTER 6 WORLD SMART LOCKS MARKET, BY GEOGRAPHY

CHAPTER 7 COMPANY PROFILES

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Posted by on Friday September 13 2019, 6:15 PM EST. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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