openPR Logo
Press release

Smart Lock Market Key Players by 2024: Assa Abloy, Allegion, Panasonic Corp., Spectrum Brands, Salto Systems, Onity, UniKey, Haven, Canseco Systems, and Master Lock

08-16-2018 11:29 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Global Market Insights, Inc.

Global Market Insights, Inc.

Market Overview: -

Smart Lock Market size is anticipated to grow owing to the rising security concerns amongst consumers and the rising proliferation of home automation systems. Thefts and burglaries have risen significantly in the recent years. For instance, in 2016, an estimated 2.5 million home invasions and property thefts were registered in the U.S. with an average estimated loss of USD 2,230 per break-in. This has fueled the demand for smart locks and has led consumers to transition away from traditional lock systems owing to the higher security and convenience that these systems provide. Additionally, these detect tampering and alert the users and the authorities discretely before a property break-in occurs, allowing higher rates of arrests of the guilty parties.

Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/2501

In the light of the rising trend of IoT in the recent years, intelligent and connected devices have found increasing applications in personal and commercial settings, propelling the smart lock market growth. These devices use connective technologies such as Wi-Fi, Bluetooth, infrared, and NFC to connect to handheld and controlling devices over a short range and internet to connect to the devices over a long range. The users can access their home security systems from a remote location by connecting through the internet. The proliferation of smart lock market is projected to grow at a rapid rate as they are equipped with advanced technological features such as remote access and intercom and camera facilities.

Top Key Players: -

Key players in the smart lock market include Assa Abloy, Allegion, Panasonic Corp., Spectrum Brands, Salto Systems, Onity, UniKey, Haven, Canseco Systems, and Master Lock. Major players in the industry are focusing on manufacturing sustainable products, entering into mergers & acquisitions, and partnerships to sustain growth in the global marketplace. In June 2017, ASSA ABLOY announced the acquisition of the Atlantic Door Control, which provides automatic door and entrance systems. This strategy was undertaken to strengthen their presence across the world and increase their product offerings; strengthening their presence in the smart lock market.

Market share calculation in this report is not done based on companies covered in it. The calculation of smart lock market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

Europe is among the major consumers of smart lock market. The rise of new investors in the region after the decline of Europe debt crisis has offered substantial opportunities for the market growth. Additionally, consumers in the region also possess the technical expertise required to operate these devices and are more inclined to adopt new and advanced technologies. Strong local manufacturing of the products and technology, the abundance of low-cost labor and raw materials, and the increasing construction of broadband infrastructure contribute to the rapid growth in the Asia Pacific smart lock market. Various economies in the region including China and India are at the forefront of the industrial boom. This is leading to the increase in the disposable income of the general population owing to which consumers are now able to purchase high-end and advanced technologies.

Request for customization @ https://www.gminsights.com/roc/2501

A major factor impeding the smart lock market growth is the high cost of purchasing and deploying these systems. The equipment is priced relatively higher than its traditional counterparts and requires technical expertise to be operated. However, the declining costs of raw materials and labor for manufacturing the equipment are aiding in overcoming the hurdle. Another challenge hindering the smart lock market is the perception of the unreliability of these security electronics and consumer reluctance to adopt them. As a major portion of the functionality is in the digital platform, these are highly susceptible to third-party cyber-attacks. Hacking and malware attacks can lead to the loss of financial funds and physical properties. Additionally, safety issues can lead to the loss of reputation in organizations, causing a decline in the customer trust and an inflow of new customers.

Smart lock market segmentation by connectivity technologies indicates that the Wi-Fi segment dominated in terms of revenue in 2017 as it provides long-range connectivity, strong connectivity, and is the most favorable technology in smart devices. Wi-Fi comes is relatively more expensive than Bluetooth and requires a dedicated power source contributing to the strong projected growth of the Bluetooth smart lock market over the forecast time period. These are equipped with battery systems and can function effectively even during times of power outages.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Smart Lock Market Key Players by 2024: Assa Abloy, Allegion, Panasonic Corp., Spectrum Brands, Salto Systems, Onity, UniKey, Haven, Canseco Systems, and Master Lock here

News-ID: 1182367 • Views: 157

More Releases from Global Market Insights, Inc.

Hypochlorite Bleaches Market to hit US$ 300 Mn 2025 | Top Key Players like Adity …
As per the research report by Global Market Insights, Inc., Global Hypochlorite Bleaches Market to cross USD 300 million by 2025 and grow at 3.4% CAGR from 2019 to 2025. It has been projected that the Global hypochlorite bleaches market is expected to reach a consumption of around 485-kilo tons by 2025. Water scarcity as well as rising water costs have led to more emphasis being laid on water recycling and
Feminine Hygiene Products Market: Growing awareness regarding intimate health in …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Feminine Hygiene Products Market. One of the most hushed topics across the world is female hygiene, the negligence of which results in several diseases. Studies claim that nearly 30% to 60 % women across the globe develop urinary tract infection once in their lifetime, mainly due to negligence in proper intimate hygiene. Dearth of knowledge regarding the negative consequences of
Examination Gowns Market 2020 business trends & growth opportunities to 2026
Global Market Insights, Inc., announces an ongoing comprehensive report on the Examination Gowns Market. The exposure to various kinds of hospital acquired infections has led to a spate of health problems for the healthcare professionals as well has the patients. In this regard, experts have been massively shifting to adoption of personal protective equipment or clothing, examination gowns, protecting them from all kinds of infections. These gowns are present in the
Nonwoven Packaging Market to witness increased demand from pharmaceutical sector …
Global Market Insights, Inc., announces an ongoing comprehensive report on the Nonwoven Packaging Market. With the world struggling to fight against negative consequences of industrialization and increased carbon emissions, nonwovens or nonwoven fabrics have emerged as an intrinsic solution for all ecological imbalances across the globe. These fabrics are made from staple fiber and long fibers, merged together by chemical, heat, or mechanical treatment. These are generally used in textile manufacturing

All 5 Releases


More Releases for Additionally

AI in Agriculture Market - Increasing Adoption of The Mechanical Technology and …
Artificial Intelligence has various application in agriculture ranging from rural automatons, facial acknowledgment, computerized water system frameworks, and driverless tractors. These applications are done in relationship with an alternate sort of sensors, GPS frameworks, radars, and other cutting edge contraptions dependent on AI. Considering these broad applications, AI is getting a colossal reaction from investors all around. Man-made reasoning (AI) is one such critical innovation in the present advanced agriculture
Global Thermal Insulation Materials Market Forecast to 2023 : Additionally, grow …
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Thermal Insulation Market. The report analyses the market by Material Type (Glass Wool, Stone Wool, Expanded Polystyrene, Extruded Polystyrene, Polyurethane and Others), By Application (Building Construction, HVAC & Appliances, Industrial / Mechanical equipment, Automotive & Others), By Region (Europe, North America, Asia Pacific,
GLOBAL MARKETS OF TEMPERATURE SENSORS (RESEARCH AND ANALYSIS) 2018 | ADDITIONALL …
Press Release - 19 June 2018 Research and Development News -- . . Latest Update "Temperature Sensors: Global Markets to 2023" with Industries Survey | Global Current Growth and Future. ' ' - "Summary- Temperature sensors are one of the prime sensing instruments in the sensor market and considered one of the fastest growing instrument types which measure thermal change in industrial applications such as HVAC, process control and automotive. Temperature sensors have become
Global Hadoop Hardware Market 2017 MAPR TECHNOLOGIES, Cisco, Datameer, IBM, Micr …
Top Manufacture Analysis Of Hadoop Hardware Market 2017 Market Summary, section by Application, Market by Region and Production, Revenue (Value), value Trend by sort. The Markets And analysis study delivers important info and realistic knowledge of the world Hadoop Hardware market. The report presents a deep study of the market growth factors and drivers. In-depth analysis of the Hadoop Hardware Market limitations and therefore the opportunities modify the user to
Global High Power Lasers Market 2017 Rofin, Coherent, nLIGHT, Prima, FANUC, Lume …
Top Manufacture Analysis Of High Power Lasers Market 2017 Market summary, section by Application, Market by Region and Production, Revenue (Value), value Trend by sort. The Markets And analysis study delivers important info and realistic knowledge of the world High Power Lasers market. The report presents a deep study of the market growth factors and drivers. In-depth analysis of the High Power Lasers Market limitations and therefore the opportunities modify
Global Industrial Catalytic Converter Market 2017 Standard Teco, Teco Limited, A …
Top Manufacture Analysis Of Industrial Catalytic Converter Market 2017 Market summary, section by Application, Market by Region and Production, Revenue (Value), value Trend by sort. The Markets And analysis study delivers important info and realistic knowledge of the world Industrial Catalytic Converter market. The report presents a deep study of the market growth factors and drivers. In-depth analysis of the Industrial Catalytic Converter Market limitations and therefore the opportunities modify