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Smart Locks Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

07-18-2023 09:25 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Smart Locks Market is Anticipated to Increase at a Stable CAGR

The global smart locks market is anticipated to grow at a CAGR of around 10.2% during the forecast period. The rising adoption of smartphones coupled with advanced wireless features, and growing security and safety concerns are the major factors driving the growth of the market. The adoption of a smart locking system due to the increasing robbery crimes is expected to positively influence product sales. The adoption of smart locks in various end-users such as residential, and commercial has gaining popularity due to the safety features provided by them. With smart lock systems, people can access their home privacy with their smartphones by giving instructions from anywhere. Additionally, the instructions are provided using a wireless protocol and a cryptographic key for executing the authorization process. The benefits offered by the smart lock systems such as enabling users to grant access to their locks directly from their phones and convenience of automatically unlocking door without having to reach for keys has increased its demand in home automation.

Moreover, the market players are also introducing new and advanced locking systems to remain competitive in the market. For instance, in January 2020, The Kwikset, brand of Spectrum Brands Holdings, Inc. had launched Halo Touch, a Wi-Fi Smart lock into its family of Wi-Fi enabled Smart Locks. Halo Touch Smart Lock provides homeowners access to their home via fingerprint. It also comes with the ability to program and store up to 100 fingerprints. In November 2019, Master Lock had launched a Bluetooth Door Controller that offers security professionals and cost-effective keyless access control to customers from the convenience of their smartphone. Thus, the adoption of these smart locks in residential and commercial verticals will drive the growth of the market during the forecast period.

To Request a Sample of our Report on Smart Locks Market: https://www.omrglobal.com/request-sample/smart-lock-market

Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered-

By Type
By Communication Protocol
By Application
Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Assa Abloy AN, Allegion plc, Dormakaba Holding AG, Spectrum Brands Holdings, Inc, Salto Systems S.L, Onity, Inc., Cansec Systems Ltd., Master Lock Company LLC, Samsung Electronics Co., Ltd., among others.


A full Report of Smart Locks Market is Available at: https://www.omrglobal.com/industry-reports/smart-lock-market



Smart Locks Market Report Segment

By Type

Padlocks
Lever Handles
Deadbolts
Others (Rim Latch Lock, Knob Lock)
By Communication Protocol

Bluetooth
Wi-Fi
Others (Zigbee, Z-Wave)
By Application

Residential
Government
Commercial
Smart Locks Market Report Segment by Region

North America

United States
Canada
Europe

UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of APAC
Rest of the World

Latin America
Middle East & Africa
COMPANY PROFILES

ASSA ABLOY
ADVENT SECURITY SERVICES PTY LTD
ALLEGION PLC
BOWLEY LOCK COMPANY INC.
CANDY HOUSE, INC.
CANSEC SYSTEMS LTD.
DAHUA TECHNOLOGY CO., LTD
DESSMANN SCHLIESSANLAGEN GMBH
DORMAKABA HOLDING AG
GANTNER ELECTRONIC GMBH
HAVEN, INC.
KWIKSET CORPORATION
MASTER LOCK COMPANY LLC
MIWA LOCK CO., LTD.
ONITY, INC.
OTTO LLC
SALTO SYSTEMS S.L.
SAMSUNG ELECTRONICS CO., LTD.
SCHLAGE LOCK CO LLC
SENTRILOCK, LLC
SHENZHEN VIANS ELECTRIC LOCK CO., LTD.
SPECTRUM BRANDS HOLDINGS, INC.
UNIKEY TECHNOLOGIES INC.
Reasons to buy from us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/smart-lock-market

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no: +91 7803040404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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