According to our latest market study on "Global Smart Locks Market to 2027 - Analysis and Forecast by Type (Padlocks, Deadbolt, Lever Handle, Others); Communication Technology (Wi-Fi, Bluetooth, NFC, Others); Application (Residential, Commercial, Industrial); and Geography," the market was valued at US$ 1.44billion in 2019 and is projected to reach US$ 4.10 billion by 2027; it is expected to grow at a CAGR of 14.2% from 2019 to 2027.The report highlights factors driving the market growth, and prominent players and their developments in the market.
Growing demand for home automation to lead smart locks market growth at 14.2%CAGR during 2019?2027
The growing adoption of smartphones in developing markets creates new and exciting opportunities for various ongoing technological developments. The smartphone adoption has an enormous impact on the smart lock technology industry. The rising smartphone penetration is stimulating the growth of connected devices, which allow users to remotely access their door locks and operate with the help of several connected mobile applications. Previously, security managers had only a choice between PIN codes and smart cards; however, smartphones proliferation to the point of ubiquity has offered a new option to the manufacturers; access to smartphones is more secure than traditional keys. Smart locks provide wireless connectivity, which can send security alerts to the user on smartphones, allowing them to remotely monitor the system. Smart locks integrated with IoTsensors help to collect valuable information into smartphones; the whole system helps to reduce risks and possibilities of any burglary or theft. Hence, huge adoption of smartphone across all the regions is fueling the growth of the global smart locks market.
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Major Product Type of Smart Locks Market Research report:
- Padlocks
- Deadbolts
- Lever Handle
- Others
Application Smart Locks Market Research Report:
- Residential
- Commercial
- Industrial
Key Offerings:
- Market Size & Forecast by Revenue | 2028
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors.
The purposes of this analysis are:
- To characterize, portray, and check the Smart Locks market based on product type, application, and region.
- To estimate and inspect the size of the Smart Locks market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.
- To estimate and inspect the Smart Locks markets at country-level in every region.
- To strategically investigate every sub-market about personal development trends and its contribution to the Smart Locks market.
- To look at possibilities in the Smart Locks market for shareholder by recognizing excessive-growth segments of the market.
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2028
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
Smart Locks Regional and Country-wise Analysis:
- North America (U.S., Canada, Mexico)
- Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)
- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)
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Top Points Covered in the Global Smart Locks Market:
- Industry Overview of Global Smart Locks Market;
- Classification, Specifications and Definition of Smart Locks Market Segment by Regions;
- Process and Structure
- Research Findings/Conclusion, Smart Locks deals channel, traders, distributors, dealer’s analysis;
- Complete Market Research, Capacity, Sales and Sales Price Analysis with Company Segment;
- Analysis of Regional Market that contains the United States, Europe, India, China, Japan, Korea & Taiwan;
- Smart Locks Market Analysis by Major Players, The Smart Locks Segment Market Analysis (by Type) and (by Application);
- Regional Market Trend Analysis, Market Trend by Product Type and by Application:
- Supply Chain Analysis, Regional Marketing Type Analysis, Global Trade Type Analysis;
- The Global Smart Locks industry consumers Analysis;
- Appendix and data source of Smart Locks market.
Market share assessments for the regional and country-level segments.
- Supply chain trends mapping the latest technological advancements.
- Strategic recommendations for the new entrants.
- Market share analysis of the top industry players.
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).
- Company profiling with detailed strategies, financials, and recent developments.
- Competitive landscaping mapping the key common trends.
- Strategic recommendations in key business segments based on market estimations.
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