Market Size of Smart Locks, Forecast Report 2015-2025

A number of emerging devices have attributed to the upsurge of global smart homes over the last few years. Smart locks is expected to be one of the utmost promising offering among all the devices over the succeeding years. Smart locks is not a completely novel industry. There has been efforts to revolutionize the traditional locks and key with numerical keypad locks. In smart locks, instead of accessing the lock with you keys, you can control access to the lock using a phone, wireless key fob or even distantly over the internet. Most of the smart locks are simple and are at-home installable devices that can fit over the thumb turn of a deadbolt contained on the inside portion of the door. The smart locks cost approximate US$ 170 to US$ 260 and is still considered a luxury device for an average residential customer.

Smart Locks Market: Drivers & Restraints

The key drivers driving the growth of global smart locks are increased popularity of smart home services coupled with smartphone penetration, which is expected to reach saturation points in the next two to three years. Moreover, declining costs of ubiquitous mobile broadband and cloud infrastructure have also aided in allowing users to easily remotely monitor and control any device, be it a smart lock or a smart thermostat. Some of the other factors driving the growth of global smart lock includes its various advantages such as allowing users to grant others access to their locks directly from their phones, convenience of being able to walk up to a door and have it automatically unlock without having to reach for one’s keys and many others. One of the major challenge for global smart locks market is the issue of one’s phone potentially dying. In such a scenario, a physical key still works. Furthermore, phones and back end clouds can be hacked, hence there remains a real and perceived security risk related to smart locks. Also, it will be critical for startups to heavily invest in security since the headline and publicity risk is the largest in the early market. The ubiquity of smartphones and low power communication protocols, along with improved technologies primarily related to geo-locating an individual have created new opportunities to enhance user experience that can be further explored in this market.

Request Free Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-1063

Smart Locks Market: Segmentation

On the basis of sub-market, the global smart locks market is segmented into,

Data Center Security
Energy Security
Casino Management
Physical Security
Port Security

On the basis of applications, the global smart locks market is segmented into,

Smart Homes

On the basis of sub-product, the global smart locks market is segmented into,

Motion Sensor
Touch Screen
Keypads

Request For TOC@ http://www.futuremarketinsights.com/toc/rep-gb-1063

Smart Locks: Region-wise Outlook

Currently North America is expected to be the largest market for global smart locks. This market is anticipated to observer the maximum growth in the Asia-Pacific region, especially in countries such as India, China and Japan. Smart Locks market is predicted to expand at a stable rate in other regions of the world as a result of a decelerating worldwide economy in these regions.

Smart Locks Market: Key Players

Some of the market participants in the global smart locks market are AT&T Intellectual Property, Comcast, Lowe’s Companies, Inc., Staples, Inc., UniKey Technologies, Inc., Yale Real Living, MIWA Lock Co. and HAVEN among many others.

Browse Full Report@ http://www.futuremarketinsights.com/reports/smart-locks-market

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

This release was published on openPR.