Smart Locks Market Size, Share, Development Trends And Outlook till 2027 With Significant Key Players - Schlage, Kwikset, Honeywell International Inc., Havenlock Inc., Panasonic Corporation

The global smart locks market was worth US$ 434.4 Million in 2019 and is expected to grow at a CAGR of 18.8% over the next five years.

The report, titled "Smart Locks Market," examines the global competitive landscape of the market in-depth, supporting businesses in understanding the primary obstacles and opportunities that vendors face. It also offers in-depth profiles of some of the market's most prominent manufacturers.

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Major Key Companies:
Apigy Inc. (Lockitron), Schlage, Kwikset, Honeywell International Inc., Havenlock Inc., Panasonic Corporation, Samsung SDS Co., Ltd, Vivint, Inc., August Home Inc., and Assa Abloy Group.

Smart Lock technology, which consists of locks that can be operated using unorthodox methods like remote control and give the user with notifications and tracking data about who entered or left the secured premise, is rapidly gaining traction as a viable alternative to traditional locks. In recent years, the industry has grown at a promising rate in relation to the growth of mobile computing devices and telecommunication networks.

Market Trends:

• The rise of smartphones is a crucial factor driving the global smart locks market forward. Many service providers are focusing on smart home-as-a-service and home automation, which is driving up smart lock usage.
• Wi-Fi and Bluetooth-controlled locks, which have just been brought to the market, are gaining a lot of attention. Customers can use digital keys to unlock their doors without the need for a networked home automation system.

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Market Segmentation:

1. By Product Type
• Deadbolt
• Lever/Knob

2. By Unlocking Mechanism
• Keypad
• Touch Screen
• App-Based
• Hybrid/Integrated

3. By Application
• Government
• Commercial
• Industrial
• Residential

Regional Classification:

The Smart Locks Market is studied and forecasted not just on a worldwide level, but also on a regional level. The study concentrates on Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America, taking a more favorable look at the regions where the market is concentrated. These areas are investigated in terms of current trends as well as potential opportunities that could benefit the market in the long run.

Key Questions Answered in this Report:
• What will the market size be in 2022, and at what rate will it grow?
• What are the most important market trends?
• What is the driving force behind this market?
• What are the obstacles to market expansion?
• Who are the major players in this market?
• What market possibilities and dangers do the major vendors face?

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Contact us:
Mr. Shah
US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights -
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This release was published on openPR.