Smart Locks Market Expected to Reach $1200 Million, Globally, by 2025

Global Smart Door Locks Market to reach USD XX billion by 2025.

Global Smart Door Locks Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The Smart Door Locks Market is continuously growing across the world over the coming years. The major driving factor of global Smart Door Locks Market are growing demand across application areas and rising investment in smart security. In addition, robust growth in demand for portable security devices, rise in security threats and increased focus of society towards Internet of Things IoT are some other factors impact positive growth on the market. However, high R&D investments, high cost of devices and fear of privacy intrusion and loss of smartphones are some factors which restraining the Global Smart Door Lock Market.

Smart door lock is an electromechanical lock which is designed to perform locking and unlocking operation on a door when it receives such instruction from an authorized device using a wireless protocol and a cryptographic key to execute the authorization process. Smart door lock offers various benefits such as ensures a high security, convenient for elderly and physically impaired people, increases accessibility, simplify control on protection, handled via smartphones and boosts connectivity. 

The regional analysis of Global Smart Door Locks Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing security concern, well-established technological infrastructure and high investments from major IoT players. Europe also contributes a major growth rate in the global Smart Door Locks market. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to rising number of commercial as well as residential projects, rapid urbanization and disposable income. 

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The major market players included in this report are:

ASSA ABLOY
• Samsung
• Allegion
• Kwikset
• MIWA Lock
• Master Lock
• Guangdong Be-Tech
• Adel
• August
• Honeywell
• Jiangmen Keyu Intelligence
• Tenon
• Locstar
• Probuck
• Guangdong Level Intelligent Lock

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below: 

By Product:

Electronic Cipher Locks
Fingerprint Locks
Remote Locks
Others

By Application:

Household
Commercial
Others

By Regions:

North America
• U.S.
• Canada

Europe
• UK
• Germany

Asia Pacific
• China
• India
• Japan

Latin America
• Brazil
• Mexico

Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Smart Door Locks Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers VARs 
Third-party knowledge providers
Investment bankers
Investors

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