Smart Lock Market 2022 Strategic Assessments- Allegion PLC (Schlage), Salto Systems SL, Hanman International Pte Ltd

This report discusses many vital industry facets that influence Global Smart Lock  industry acutely which includes extensive study of competitive edge, latest advancements, region-wise industry environment, contemporary market and manufacturing trends, leading market contenders, and current consumption tendency of the end user. The report also oversees market size, market share, growth rate, revenue, and CAGR reported previously along with its forecast estimation. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Sodium-ion Battery investments from 2021 till 2026.

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The Smart Lock Market was valued at USD 3.1 billion in 2020 and is expected to reach USD 7.98 billion by 2026 at a CAGR of approximately 15.4% during the forecast period (2021 - 2026).

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. The key manufacturers covered in this report: August Inc. (ASSA ABLOY AB), Yale Locks & Hardware (ASSA ABLOY AB), Allegion PLC (Schlage), Salto Systems SL, Hanman International Pte Ltd (Samsung), Dormakaba Group, U-TEC Group Inc., Kwikset (Spectrum Brands Inc.), Lockly, Master Lock Company LLC, Nuki Home Solutions, Netatmo (Legrand)

Regional and Country-level Analysis

The report offers an exhaustive geographical analysis of the global Smart Lock market, covering important regions, viz, North America, Europe, China, and Japan. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

News and Updates

- January 2020 -- August Inc. (ASSA ABLOY) announced the launch of the Wi-Fi Smart Lock, which sports a brand-new compact design and built-in Wi-Fi connection. The device comes in the size of a standard doorknob and is 45% smaller in volume and 20% slimmer than the August Smart Lock Pro. The new built-in Wi-Fi feature eliminates the need to pair it with an external bridge.

- January 2020 -- Yale introduces Linus a Smart Lock at CES 2020, Las Vegas. The smart lock is powered by advanced software and the user-friendly Yale Access app. It will offer added functionalities, such as the ability to lock and unlock the door, grant keyless access, and keep track of who comes and goes with a 24/7 access history.

Market Insights

The increasing adoption of smart home architecture across the world, which includes features, like remote access, voice control, and seamless connectivity, is further propelling the adoption of smart locks for residential premises. Further, the eliminated need to carry the mechanical keys around has attracted the likes of residential owners.

- The connectivity to smart home technology is further enabled with communication technologies such as Wi-Fi, Z-Wave, ZigBee, Thread, and Propriety. Sometimes all of these technologies are included in the same device. For instance, in CES 2020, Netatmo, a smart home devices manufacturer based out of France, announced the launch of Netatmo Smart Door Lock, a smart door lock, and the keys are compatible with Apples HomeKit standard. The company ships with three physical keys that use NFC to instantly and securely unlock the door.

- The increasing penetration of smartphones is also stimulating the growth of connected devices which enable users to remotely access their door locks and unlock the doors using various connected mobile apps. According to Oberlo, an e-commerce company, there are currently 3.5 billion smartphone users across the world, and the penetration rate is approximately 45.4% of the global population of 7.7 billion people. Simply put, four out of every 10 people in the world are currently equipped with a smartphone.

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Smart Lock Analysis and Strategies Carry Out as below:

The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Smart Lock market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Smart Lock market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Smart Lock Market report.

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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Irfan Tamboli (Head of Sales) - Market Insights Reports
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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