Press release
Demand for Residential Smart Lock Market to Grow 2.7X Through 2029
Global Smart Lock Market study sheds light on the important growth dynamics expected to prevail across the assessment period. (Insert forecast period). The study offers statistics of key segments across prominent geographies, along with a detailed mapping of the global competitive landscape.
The Market report tracks the global sales of Smart Lock in 20+ high growth Markets, along with analysing the impact of COVID-19 has had on information & communication technology (ICT) industry and Smart Lock sector in particular.
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How will Sales of Smart Lock will foster in 2022 and beyond?
In its latest report, Fact.MR offers an exhaustive overview of the global Smart Lock Market with focus on key dynamics, including drivers, restraints, opportunities, trends and detailed information about the global Smart Lock Market structure.
Smart Lock Market sales across the world will rise with the increasing adoption of wireless technology and penetration of digital media. With the outbreak of COVID-19, companies have become heavily reliant on digital platforms for the survival.
In the post-digital world, digital realities and advanced technologies such as artificial intelligence and internet of thinking & related products/services will be in trend. Technological adoption rate is increasing exponentially, which will bolster the industry growth.
ICT companies. are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
China's ICT industry will register high growth opportunities, especially as tech companies focus on digital transformation in the field of robotic process automation, data theft security, cloud & edge computing and cybersecurity.
Market players across China are shifting their focus on customer needs by taking a more nuanced approach through new service offering and by adopting various strategies such as product development and innovation.
The ICT sector across the U.K., France, and Germany will register robust growth during the forecast period owing to the increasing research & development activities for the development of novel technologies. Rising adoption of artificial intelligence and big data science among the ICT service providers will boost the growth.
Advent of 5G wireless technology across India will aid the growth of ICT sector combined with the adoption of edge computing within various end-use sectors such as healthcare, automotive and food & beverage industry. Emergence of e-commerce platforms within the manufacturing companies of diverse end-use sectors will improve the demand over the coming years.
Rise in adoption of autonomous vehicles across South Korea and Japan is improving the adoption of computing technologies for higher connectivity in the automobiles. This trend will strengthen the growth of ICT industry.
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Key Segments Covered in the Smart Lock Industry Analysis
By Type
Deadbolt Smart Locks
Lever Handle Smart Locks
Smart Padlocks
Other Smart Locks
By Application
Smart Locks for Residential Applications
Smart Locks for Hospitality Industry
Enterprise Smart Locks
Smart Locks for Critical Infrastructure
Other Smart Locks Applications
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Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground
In February 2021, Allegion Plc. introduced the new Schlage Ease™ range of smart locks that are easy to install and use, but with maximum features. These locks are available in either deadbolt or entry lock versions and offers affordable style, convenience and security with modern smart functionality for any home.
In September 2021, ASSA Abloy has signed a definitive agreement to acquire the Hardware and Home Improvement ("HHI") division of Spectrum Brands for a purchase price of MUSD 4300 on a cash and debt free basis.
Key Regions Analysed
North America
Latin America
Europe
Asia-Pacific
Middle East & Africa
Key Country-wise Inclusions
US Smart Lock Market
Canada Smart Lock Sales
Germany Smart Lock Production
UK Smart Lock Industry
France Smart Lock Market
Spain Smart Lock Supply-Demand
Italy Smart Lock Outlook
Russia & CIS Market Analysis
China Smart Lock Market Intelligence
India Smart Lock Demand Assessment
Japan Smart Lock Supply Assessment
ASEAN Smart Lock Market Scenario
Brazil Smart Lock Sales Analysis
Mexico Smart Lock Sales Intelligence
GCC Smart Lock Market Assessment
South Africa Smart Lock Market Outlook
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