Smart Locks Market Is Expected To Witness A Phenomenal CAGR Of +50% By 2024 : ASSA ABLOY, Samsung, Allegion, Kwikset (Spectrum Brands), MIWA Lock, Master Lock

The global smart lock market is estimated at $ XXX million by 2017. We expect a marginal CAGR of +50 % over the forecast period. Demand for smart locks is expected to exceed XXX million units by 2024. With the increasing penetration of smart homes, the adoption of connected home solutions is growing and connectivity to all the electronic devices in the user's home is one of the main trends to jump up the market.

According to our research and analysis, manufacturers from USA and Europe are the major leaders in the international market of smart locks. Manufacturers from China are immature in technology. There is large space in the China market, as well as big gap between international brands and local brands on price. With the development of Chinese smart locks production technology, their share in the global market will continue to increase, and competitiveness in the global market will also increases gradually.

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The expansion of smartphone penetration is driving demand for smarter locks during the forecast period. In addition, technology development is evaluated as playing an important role in market development.

This Report Focuses On Top Manufacturers In Global Market:
ASSA ABLOY, Samsung, Allegion, Kwikset (Spectrum Brands), MIWA Lock, Master Lock (Fortune Brands), Guangdong Be-Tech, Adel, August, Honeywell, Jiangmen Keyu Intelligence, Tenon, Locstar, Probuck, Guangdong Level Intelligent Lock

The industry is expected to see significant opportunities for growth, especially in cloud-based lock / unlock management solutions, due to the emergence of innovative locking mechanisms through core clocks, smartphones, tablets and other portable devices and the introduction of integrated connectivity. With the development and implementation of a variety of innovative technologies such as Z Wave / ZigBee, Near Field Communication (NFC), and Bluetooth Low Energy (BLE), access to locking will drive market growth during the forecast period.

Product Type Segmentation
• Fingerprint Locks
• Electronic Cipher Locks
• Remote Locks
• Others

Application Segmentation
• Household
• Commercial
• Others

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To enhance the consumer experience, smart lock suppliers are introducing add-on locks and capacitive touch screens. They develop state-of-the-art technologies such as Wi-Fi and Bluetooth-based lock / unlock access to promote the proliferation of IoT and the popularity of BYOD trends. Residential service providers, especially smart home specialists, are introducing wireless protocol-enabled door locks for new ventures. All of these factors can be a good sign in the market.
By region, the Global Smart Locks Technologies Market can be categorized as North America, Central and South America, Western Europe, Eastern Europe, and Asia Pacific excluding Japan, Japan, the Middle East and Africa.

Table Of Content
Section 1 Smart Locks Definition
Section 2 Global Smart Locks Market Major Player Share and Market Overview
Section 3 Major Player Smart Locks Business Introduction
Section 4 Global Smart Locks Market Segmentation (Region Level)
Section 5 Global Smart Locks Market Segmentation (Type Level)
Section 7 Smart Locks Market Forecast 2019-2024
Section 8 Smart Locks Segmentation Type
Section 9 Smart Locks Segmentation Industry
Section 10 Smart Locks Cost Analysis
Section 11 Conclusion

Key reason to Purchase the report

1. To describe and forecast the Smart Locks market, in terms of value, by process, product type, and industry.
2. To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
3. To describe and forecast the market, in terms of value, for various segments, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
4. To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the MID market growth
5. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various trocars across geographies.
6. To strategically analyze micro markets with respect to individual growth trends, prospects, and contribution to the overall market.

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