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Smart Lock Market is Estimated to Generate USD 1,375 Million, Globally, by 2024 with Exponential CAGR 17.3%

Press release   •   Apr 30, 2019 08:58 EDT

Global Smart Lock Market is anticipated to reach USD 1,375 million at an exponential CAGR of 17.3 % over the forecast period 2017-2024.

The factors driving the growth of the market includes increasing demand for smart phones, adoption of sophisticated keyless access device, growing demand for connected home solutions, and increasing security and privacy concerns among users. Moreover, rise in disposable income and rapid urbanization further fuels the demand of smart lock market during the forecast period. Furthermore, emergence of internet of things (IoT) and advancement in technology also driving market growth. However, lack of awareness among users may sometimes hamper the growth of the market growth.

The years used for the assessment are as follows:

Historical year : 2014, 2015 and 2016
Base year : 2017
Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total image sensor market and it various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global smart lock market
Finalizing the overall size and share for the global smart lock market 

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OBJECTIVES:

To classify the global smart lock market, segments are classified in product type, lock type, communication protocol, applications, region and analyze their growth prospects individually
To analyze market trends, opportunities, drivers and restraints associated with the global smart lock market
Profiling key companies operating in the global in a smart lock market
To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for global smart lock market is as follows:

By Product Type

Fingerprint Locks
Electronic Cipher Locks
Remote Locks
Others

By Lock type

Deadbolts
Lever Handles
Padlocks
Other Locks (rim/mortise locks and rim cylinders, Knob locks, and rim latch locks)

By Communication Protocol

Bluetooth
Wi-Fi
Others (Thread, Zigbee/Z-Wave, and Near Field Communication)

By Application

Residential
Commercial
Industrial
Hospitality
Institution and Government
Others

By Region

North America
US
Canada
Mexico
Europe
UK
France
Germany
Rest of Europe
Asia-Pacific (APAC)
Japan
China
India
South Korea
Rest of APAC
Rest of the World (ROW)

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FREE ANALYSIS

The global smart lock market is anticipated to reach USD 1,375 million over the forecast period, at a CAGR of 17.3%. The factors driving the growth of the market includes increasing demand for smart phones, adoption of sophisticated keyless access device, growing demand for connected home solutions, and increasing security and privacy concerns among users. Moreover, rise in disposable income and rapid urbanization further fuels the demand of smart lock market during the forecast period. Furthermore, emergence of internet of things (IoT) and advancement in technology also driving market growth. However, lack of awareness among users may sometimes hamper the growth of the market growth.

To encounter the real world scenario, smart locks are gaining its popularity. The ease of usage and growing demand for keyless unlocking devices is the key factor driving the residential segment in the smart lock market. The emergence of IoT has also become the fundamental base to eliminate the security challenges, and offer a minimum chance of threat and other activities. Smart locks are tremendously increasing its demand, as it is easier to install and also supportive to reduce multiple sets of keys.

Geographically, North America is anticipated to dominate the global smart lock market. The growth in this region is attributed to the increasing security concerns, well-established technological infrastructure, and high investments from major IoT players. However, Asia-Pacific (APAC) is expected to be the fastest-growing industry for smart lock during the forecast period, owing to rising number of commercial as well as residential projects, rapid urbanization and disposable income.

Key players in the smart lock market includes ASSA ABLOY; Allegion plc; AMADAS Inc.; Anviz Global; Guangdong Archie Hardware Co., Ltd.; Candy House, Inc.; Cansec Systems Ltd.; Dahua Technology Co., Ltd.; Gate; Samsung Electronics Co., Ltd.; Master Lock Company LLC; and Onity, Inc. among others.

Available customization:

With the given market information, Ameco research offers customization's in line with the company's specific wishes. The following customization choices unit of measurement accessible for the report:
Regional and country-level analysis of the Global Smart Lock Market, by end-use.
Detailed analysis and profiles of additional market players.

Table of Contents

Global Smart Lock Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Smart Lock – Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the smart lock market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.6. Market dynamics

3.6.1. Market driver analysis

3.6.1.1. Increasing demand for smart phones

3.6.1.2. Adoption of sophisticated keyless access device

3.6.1.3. Growing demand for connected home solutions

3.6.1.4. increasing security and privacy concerns among users

3.6.2. Market restraint analysis

3.6.2.1. Lack of awareness among users

3.6.3. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Smart Lock Market Size and Forecast (2014 – 2024)

5.1. Global Smart Lock Market, By Product Type (USD Million)

5.1.1. Fingerprint Locks

5.1.2. Electronic Cipher Lock

5.1.3. Remote Lock

5.1.4. Others

5.2. Global Smart Lock Market, By Lock Type (USD Million)

5.2.1. Deadbolts

5.2.2. Lever Handles

5.2.3. Padlocks

5.2.4. Other Locks (rim/mortise locks and rim cylinders, Knob locks, and rim latch locks)

5.3. Global Smart Lock Market, By Communication Protocol (USD Million)

5.3.1. Bluetooth

5.3.2. Wi-Fi

5.3.3. Others (Thread, Zigbee/Z-Wave, and Near Field Communication)

5.4. Global Smart Lock Market, By Application (USD Million)

5.4.1. Residential

5.4.2. Commercial

5.4.3. Industrial

5.4.4. Hospitality

5.4.5. Institution and Government

5.4.6. Others

CHAPTER 6. Global Smart Lock Market Size and Forecast, By Geography (2014 – 2024)

6.1. North America Smart Lock Market (USD Million)

6.1.1. North America Smart Lock Market By Product Type (USD Million)

6.1.2. North America Smart Lock Market By Lock Type (USD Million)

6.1.3. North America Smart Lock Market By Communication Protocol (USD Million)

6.1.4. North America Smart Lock Market By Application (USD Million)

6.1.5. North America Smart Lock Market By Country (USD Million)

6.1.5.1. U.S.

6.1.5.2. Canada

6.1.5.3. Mexico

6.2. Europe Smart Lock Market (USD Million)

6.2.1. Europe Smart Lock Market By Product Type (USD Million)

6.2.2. Europe Smart Lock Market By Lock Type (USD Million)

6.2.3. Europe Smart Lock Market By Communication Protocol (USD Million)

6.2.4. Europe Smart Lock Market By Application (USD Million)

6.2.5. Europe Smart Lock Market By Country (USD Million)

6.2.5.1. Germany

6.2.5.2. France

6.2.5.3. U.K.

6.2.5.4. Rest of Europe

6.3. Asia-Pacific (APAC) Smart Lock Market (USD Million)

6.3.1. APAC Smart Lock Market By Product Type (USD Million)

6.3.2. APAC Smart Lock Market By Lock Type (USD Million)

6.3.3. APAC Smart Lock Market By Communication Protocol (USD Million)

6.3.4. APAC Smart Lock Market By Application (USD Million)

6.3.5. APAC Smart Lock Market By Country (USD Million)

6.3.5.1. China

6.3.5.2. Japan

6.3.5.3. South Korea

6.3.5.4. India

6.3.5.5. Rest of Asia-Pacific

6.4. Rest of the World (RoW) Smart Lock Market (USD Million)

6.4.1. RoW Smart Lock Market By Product Type (USD Million)

6.4.2. RoW Smart Lock Market By Lock Type (USD Million)

6.4.3. RoW Smart Lock Market By Communication Protocol (USD Million)

6.4.4. RoW Smart Lock Market By Application (USD Million)

6.4.5. RoW Smart Lock Market By Country (USD Million)

6.4.5.1. South America

6.4.5.2. Middle East and Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. ASSA ABLOY

7.1.1. Business Overview

7.1.2. Type and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Allegion plc

7.2.1. Business Overview

7.2.2. Type and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. AMADAS Inc.

7.3.1. Business Overview

7.3.2. Type and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Anviz Global

7.4.1. Business Overview

7.4.2. Type and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Guangdong Archie Hardware Co., Ltd.

7.5.1. Business Overview

7.5.2. Type and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Candy House, Inc.

7.6.1. Business Overview

7.6.2. Type and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Cansec Systems Ltd.

7.7.1. Business Overview

7.7.2. Type and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Dahua Technology Co., Ltd.

7.8.1. Business Overview

7.8.2. Type and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Gate

7.9.1. Business Overview

7.9.2. Type and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Samsung Electronics Co., Ltd.

7.10.1. Business Overview

7.10.2. Type and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Onity, Inc.

7.11.1. Business Overview

7.11.2. Type and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

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