Smart Lock Market in residential segment will be driven by rising demand for home automation solutions | Key Players include Assa Abloy, Allegion, Panasonic Corp., Spectrum Brands, Salto Systems, Onity, UniKey, Haven, Canseco Systems, Master Lock
The residential segment is anticipated to lead the smart lock market owing to the rising consumer awareness and the rising demand for home automation solutions that provide higher security and convenience. The commercial segment holds the largest market share as locations such as banks, government agencies, and places containing large financial and physical assets, require multiple layers of protection against thefts. BSFI is expected to be the largest adopter of the smart lock market over the forecast timespan. Banks pose high risks of security breaches due to a large flow of cash.
Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/2501
Rising construction of smart homes and the rising penetration of home automation security systems are providing an avenue for the growth of the smart lock market. Economies including China and India are experiencing heavy investments in the development of the urban locations for residential and commercial purposes owing to the decline in the labor and raw materials and the rising rate of urbanization.
Product type segmentation of the smart lock market by product indicates that the deadbolt segment holds the largest market share owing to their high adoption in the residential sector. These have lower installation costs and higher durability. Lever handles segment of the smart lock market is projected to witness a significant growth as they prevent door knob stains, contributing to the high adoption in workshops or garages, bathroom doors, and handicap accessibility locations.
Global Smart Lock Market 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 customization of this report @ https://www.gminsights.com/roc/2501
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.
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.
Browse Full Report: https://www.gminsights.com/industry-analysis/smart-lock-market
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.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
This release was published on openPR.
Permanent link to this press release:
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 in residential segment will be driven by rising demand for home automation solutions | Key Players include Assa Abloy, Allegion, Panasonic Corp., Spectrum Brands, Salto Systems, Onity, UniKey, Haven, Canseco Systems, Master Lock here
News-ID: 1682702 • Views: 290
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
More Releases for Lock
Lock Washer Market -NORD-LOCK, Disc-Lock, Schnorr, Shakeproof, Tiger-Tight, Midw …
Lock Washer Market Overview: Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Lock Washer market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region. The Global Lock Washer market Report provides a detailed analysis of the current dynamics of the market with an extensive focus on the secondary research. It also studies current situation of the market estimate, share, demand, development
Global Digital Door Lock Systems Market 2018 - Stone Lock, Adel Lock, Kwikset, S …
Apex Market Research, recently published a detailed market research study focused on the "Digital Door Lock Systems Market" across the global, regional and country level. The report provides 360° analysis of "Digital Door Lock Systems Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Digital Door Lock Systems industry, and estimates the
Global Airfryer Market 2018 - Lock&Lock, SUPOR, Liven, MSX
Accord Market, recently published a detailed market research study focused on the "Airfryer Market" across the global, regional and country level. The report provides 360° analysis of "Airfryer Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Airfryer industry, and estimates the future trend of Airfryer market on the basis of this
Digital Door Lock System Market
Digital door lock systems are available in multiple options depending on the user security requirements include access based on passphrases, numeric code, passwords, security tokens, radio frequency identification devices (RFID), and different types of biometrics. Moreover, usage of smart phones as a means to gain entry is among the prominent solution gaining traction for residential and other end user applications, specifically in the developed economies of U.S. and Europe. Owing
Global Password Lock Market Research Report 2017 - TONYON, Master Lock, Tri-circ …
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Password Lock in these regions, from 2012 to 2022 (forecast), covering North America Europe China Japan Southeast Asia India Explore Full Research Report with TOC @ http://www.qyresearchreports.com/sample/sample.php?rep_id=1174664&type=E Global Password Lock market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including TONYON Master Lock Yale Tri-circle Zhongli Blossom Lock Jasit WT YUEMA Rarlux Lock Skygood Panasonic On the basis of product,
Global Sport Bottle Market 2017- Thermos,PMI ,Lock & Lock
Global Sport Bottle Market 2017 Research Report offers a complete and in-depth analysis of the growth rate of the Sport Bottle industry. In the first section, Sport Bottle Market report presents the overview of Sport Bottle industry which includes definitions, classifications, applications and Sport Bottle industry chain structure. Global Sport Bottle Market further includes Sport Bottle development history, competitive analysis of Sport Bottle industry. Top leading Manufacturers Analysis of Sport Bottle:- 1 Thermos 2