Press release
The Global Smart Lock Market was valued at USD 2.11 Bn in 2022, and it is projected to grow at a CAGR of 12.6 percent from 2023 to 2029, reaching nearly USD 4.83 Bn.
Smart Lock Market
The comprehensive report on the global Smart Lock Market provides an overview of the industry, including its characteristics, size, growth, segmentation, and geographical breakdowns. The report covers both the demand and supply sides of the market, analyzing market shares, trends, and business plans. It includes a detailed analysis of the market's lock types, communication protocols, unlocking mechanisms, verticals, and geographical regions. The report also presents the research methodology employed in gathering and analyzing data.
The report follows a rigorous research methodology that includes primary research, secondary research, and data triangulation techniques to ensure accurate and reliable market analysis. It covers various aspects such as company tactics, customer preferences, government regulations, competition activities, and future market prospects.
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What are Smart Lock Market Dynamics:
The increasing security and safety concerns, rising adoption of smartphones and connected devices, and the enhanced features of smart locks compared to traditional lock systems are driving the growth of the Smart Lock Market. The demand for advanced biometric solutions and smart locks is also expected to increase with infrastructure development, especially in technologically advanced countries like India, China, and Brazil.
The threat of hackers and concerns regarding the reliability of smart locks act as restraints to market growth. Cybersecurity risks and potential power failures may hinder the perception of smart locks' reliability among consumers.
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Smart Lock Market Regional Insights:
The report provides insights into the growth dynamics of the Smart Lock Market in regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America. The Vietnamese smart lock market is expected to witness strong growth, capturing approximately 3 Percent of the total market share during the forecast period. This opens up opportunities for Vietnamese smart lock companies to compete with foreign competitors.
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What is Smart Lock Market Segmentation:
By Lock Type:
Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others
By Communication Protocol:
Bluetooth
WiFi
Z-Wave
Others
By Unlocking Mechanism:
Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based
By Vertical:
Commercial
Residential
Institutional & Government
Industrial
Transportation & Logistic
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Who are Smart Lock Market Key Players:
1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)
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Table of content for the Smart Lock Market includes:
1. Global Smart Lock: Research Methodology
2. Global Smart Lock Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Smart Lock Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Smart Lock Market Segmentation
• Global Market, by Lock Type (2022-2029)
• Global Market, by Communication Protocol (2022-2029)
• Global Market, by Unlocking Mechanism (2022-2029)
• Global Market, by Vertical (2022-2029)
5. Regional Smart Lock Market (2022-2029)
• Regional Market, by Lock Type (2022-2029)
• Regional Market, by Communication Protocol (2022-2029)
• Regional Market, by Unlocking Mechanism (2022-2029)
• Regional Market, by Vertical (2022-2029)
• Regional Market, by Country (2022-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Lock Type, Communication Protocol, Unlocking Mechanism and Vertical
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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