European Smart Lock Market Sluggish Growth Rate Foreseen by 2019-2025

The European Smart Lock is anticipated to grow at a CAGR 10.0% during the forecast period. As per Center Intelligence Agency, the population of European Union in 2017 was 516 million. Germany, France and the UK have largest population and economy in Europe. The major countries which will contribute in the European smart lock market are the UK, Germany, France, Italy and Spain. Government initiatives and funding, high expenditure capacity of the people, presence of major market player is some of the major factor augmenting the market growth. European Union is one of the unique economic and political unions between countries that together cover much of the continent.

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According to the European Commission, there has been total 22,772 number of intentional homicide cases in the region followed by 94,818 numbers of and more than 7.5 million of theft-cases in the region. In such cases, the implementation of the smart locks provides better security and safety to the people and their properties. The integration of the smart locks with mobile phones has been a boon to the security industry as by this the access of the smart locks becomes easy. Increased mobile phone subscription in the supports of the European smart lock market growth as it enables the owner to keep an eye over its property even in the absence.

European Smart Lock Market Segmentation

By Communication Protocol

· Bluetooth

· Wi-Fi

· Others

By Application

· Residential

· Government

· Commercial

By Type

· PadLocks

· Lever Handles

· Deadbolts

· Others

Regional Analysis

· European

· UK

· Germany

· Italy

· Spain

· France

Rest of Europe

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Company Profiles

· Assa Abloy AB

· August Home

· Dessmann Schliessanlagen GmbH

· Honeywell International, Inc.

· Panasonic Corp.

· Salto system S.L

· Samsung Electronics Co., Ltd.

· Unikey Technologies Inc.

· Vivint, Inc.

· ZKTeco Europe

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