Smart Locks Market, By Product Type (Deadbolt and Lever/Knob), by Unlocking Mechanism( Keypad, Touch Screen, App Based and Hybrid/Integrated) , by Application(Government, Commercial, Industrial and Residential) and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
A smart lock is an electrical and mechanical lock system that performs locking and unlocking function when receive instructions from the authorized user. These instructions are transferred from smartphones, wearable devices and tablets using Wi-Fi or Bluetooth connection. Smart locks are used to provide notifications through SMS and e-mail and also provide image of the person at the door. Smart locks are an integral part of smart homes, which allow homeowners to enter their home without requiring traditional key. Many smart locks uses mobile apps or websites allow homeowners to grant access to third parties by sending a virtual key. Some smart locks come with a camera, which provides a picture of individuals accessing the door.
Growing adoption of smart home technologies is the factor driving growth of the global smart locks market during the forecast period. The smart home locks provides automation and access capabilities to users from smartphones, tablets, and other devices. Rise in lifestyle of urban households has increased the demand for smart locks devices to monitor homes. Smart locks are also providing security due to rising number of threats along with the development of smart cities in the residential and urban sectors. For instance, According to the Office of National Statistics, in 2019, there were around 687 domestic burglaries and 633 household thefts per 1,000 population in U.K. According to the same source, there was around a 7% increase in the number of police-recorded offenses involving knives and sharp objects. Thus, these factors are expected to drive growth of the global smart locks market during the forecast period.
Moreover, Owing to rising urbanization, disposable income and growth of IoT technology people are accepting smart based technologies for daily life functioning. Implementation of smart technology such as cloud based locking and unlocking allow the user to access locks through virtual device which in turn increases the demand of global smart locks market. For instance, companies such as August Home and Danalock International ApS are focusing on implementing latest technologies such as automatic unlocking mechanism and touch sensors in their products. .Therefore, advancements in technology are expected to boost the market growth over the forecast period.
This report segments the global smart locks market on the basis of by product type, by unlocking mechanism, application and region. On the basis of product type, the global smart locks market is segmented into Deadbolt and Lever/Knob. On the basis of unlocking mechanism, global smart locks market is segmented into Keypad, Touch Screen, App Based and Hybrid/Integrated. On the basis of application, global smart locks market is segmented into Government, Commercial, Industrial and Residential. On the basis of region, global smart locks market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
Key features of the study:
This report provides an in-depth analysis of the global smart locks market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global smart locks market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the global smart locks market includes
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global smart locks market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global smart locks market.
Global Smart Locks Market, By Product Type:
Global Smart Locks Market, By Unlocking Mechanism:
Global Smart Locks Market, By Application:
Global Smart Locks Market, By Region:
Middle East and Africa
Apigy Inc. (Lockitron) *
Honeywell International Inc.
Samsung SDS Co., Ltd
August Home Inc.
Assa Abloy Group
*Browse all the market data tables and figures on “Global Smart Locks Market- Forecast to 2027”
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