openPR Logo
Press release

Smart Lock Market 2025 - In Depth Industry Analysis By Type, Technology & End-User Industries

Smart Lock Market

Smart Lock Market

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 industry is projected to witness a significant growth as they prevent doorknob stains, contributing to the high adoption in workshops or garages, bathroom doors, and handicap accessibility locations.

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 industry over the forecast time period. These are equipped with battery systems and can function effectively even during times of power outages.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2501

The residential end-user 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.

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.

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. These devices enable a high degree of protection for these institutions. For instance, strict parking controls, low spaces, and heavy parking regulations in Taiwan are promoting the smart lock industry. Chunghwa Telecom has developed an NB-IoT-powered device that can be used to prevent unauthorized parking.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/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.

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.

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.

Get this report Customized to your requirements @ https://www.gminsights.com/roc/2501

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

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.

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 2025 - In Depth Industry Analysis By Type, Technology & End-User Industries here

News-ID: 1900013 • Views:

More Releases from Global Market Insights Inc.

Latest Research Report On Agricultural Adjuvants Market 2021. Major Players Included – Dow Dupont Inc., BASF SE, Clariant AG & More
Latest Research Report On Agricultural Adjuvants Market 2021. Major Players Incl …
The agricultural adjuvants market is expected to observe noteworthy growth on account of increasing demand for high-quality crops. Adjuvants commonly act as an additive in pesticides that increase its effectiveness and smoothen its mixing application. The demand for plant protection products in countries like Bangladesh, India, and Vietnam has surged considerably in recent years. Ever-increasing population across developing economies has forced farmers to produce large quantities of high-quality yields. Citing
U.S. Minoxidil Market 2021 Growth Opportunities and Competitive Landscape 2027 - Walmart, Costco Wholesale Corporation, LGM Pharma
U.S. Minoxidil Market 2021 Growth Opportunities and Competitive Landscape 2027 - …
The U.S. minoxidil industry has been impacted by the COVID-19 pandemic in the form of increased stress amid job losses and health issues, creating rising incidences of hair fall and associated problems. The industry is expected to gain commendable proceeds on account of an upsurge in research studies concerned with the effectiveness of minoxidil. Citing one such instance, in January 2021, a study published in the Dermatologic Therapy supported the efficacy
Global Sulfosuccinate Market 2021 Future Growth With Technology and Current Trends to 2024 | MFG Chemicals, Huntsman Corporation, and Stepan Company
Global Sulfosuccinate Market 2021 Future Growth With Technology and Current Tren …
Owing to these factors, estimates have revealed that the global sulfosuccinate market size will exceed USD 475.7 million in annual estimation by 2024. Increasing adoption of high-performance materials that meet application-specific requirements across various industries, including pharmaceuticals will stimulate the need for sulfosuccinate compounds. The surging disposable incomes of consumers mainly across the developing nations have also fueled their spending capacities on household and personal care. Sulfosuccinates are mainly a mild type
By 2026, Graphene Market will register over 35% CAGR | Applied Nanotech, Inc, an …
The global Graphene Market is slated to gain significant momentum over the forthcoming years, as a result of the growing product consumption in the electronics sector, particularly in developing countries. This high consumption can be attributed to its superior qualities such as high electrical conductivity, durability, and toughness. Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/233 Top Key Players in The Market are: Graphenea S.A., Applied Graphene Materials plc, ACS

All 5 Releases


More Releases for Smart

Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT
Survey Report on Smart Kitchen Appliances Market 2018: Smart Refrigerator, Smart …
The report analyzes and presents an overview on "Global Smart Kitchen Appliances Market Professional Survey Report 2018" worldwide. This report studies Smart Kitchen Appliances in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025. The study objectives of this report are: To study and forecast the market size of Smart
IoT Device Management Market Analysis by Application - Smart Manufacturing, Smar …
IoT device management comprises of multiple operating systems and several varieties of communication methods and protocols targeted at conducting smooth functioning of smart devices. The service of IoT device management has become vital for the business sector in recent years due to the rising use of remote operation in a number of industries and the subsequent need to manage the operation of the devices. The global IoT device management market is
SMART SHIPS NEED SMART REGISTRIES
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Kitchen Appliances Market : Smart Refrigerators, Smart Dishwashers, Smart …
Albany, New York, July 20, 2017 : Recent research and the current scenario as well as future market potential of "Smart Kitchen Appliances Market (Products - Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" globally. Smart kitchen appliances are premium appliances that are designed for comfortable and efficient operation as