Smart Lock Market Emerging Scenarios, Anticipated to Capture 1,175 Million USD by 2023

The global smart lock market size was valued at $416 million in 2016 and is estimated to reach $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 the rise in security concerns among consumers, technological advancements, and an increase in the trend of smart homes. Asia-Pacific is anticipated to grow at the highest CAGR of 18.2% from 2017 to 2023.

Get Sample Report - www.alliedmarketresearch.com/request-sample/2261?utm_source=SS_OPR

The smart lock 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, the surge in urbanization, and the growth in need to establish connectivity across all the electronic equipment of the house.

For Purchase Inquiry - www.alliedmarketresearch.com/purchase-enquiry/2261?utm_source=SS_OPR

The global smart lock market is categorized based on the type of product into deadbolts, lever handles, padlocks, and others. Deadbolts segment generated a higher revenue in 2016 and is expected to dominate the market throughout the forecast period, owing to its strong and enhanced protection against forceful physical attacks.

Competitive Analysis of Prominent Players

-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.

The commercial end-user segment led the smart lock market in 2016; however, the residential segment is expected to grow at the highest CAGR due to the rise in crime rates globally and ease of use as smart locks are enabled with features, such as motion detectors, remote door locking & unlocking, and remote door opening sensors with the phone app of the lock.

Connect to Analyst - www.alliedmarketresearch.com/connect-to-analyst/2261?utm_source=SS_OPR

According to the data released by the FBI regarding the crime statistics in 2015, in the U.S., the property crime rate was 2,487.0 offenses per 100,000 inhabitants and the violent crime rate increased by 3.1% compared to previous year.

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.