Press release
Worldwide Smart Lock Market 2018 - Key Application, Demand, Status, Trends, Share, Opportunities, Forecast 2023
The global smart lock market is growing rapidly across the world. The demand for smart locks is growing with the increasing demand for auto-lock technologies for smart lock are boosting the growth of this market. Wi-Fi-based smart lock is gaining demand in the smart lock market as it is designed with advanced technology that are connected with smart home hub and other connected devices like the owner’s smartphone etc.. The Bluetooth and NFC are gaining demand in the market as it is integrated with sensors that can enable a door to unlock whenever an authorized user approaches with his smartphone. These smart locks are inbuilt with electronic key code capabilities and physical keypads provide a backup if needed.
The smart lock market is gaining momentum due to touchscreen lock are widely used among users as these locks are smudge and fingerprint-resistant. These locks are connected with smart home hubs via Z-wave, ZigBee and others so as to be controlled it remotely. The RFID based smart locks are gaining more demand in the market as its helps people save time and maintain a managed security. These Radio Frequency Identification are integrated with chips to communicate with RFID readers. These RFID chips are used in the small to mid-scale industry as it creates high-tech, keyless, safe RFID door locks.
The Global Smart Lock Market is expected to reach USD ~ 2 billion at a CAGR of over 11% by the end of the forecast period.
The use of smart locks in commercial, residential, industrial, and other sectors, are gaining momentum due to its proximity-based unlocking techniques used in these locks. The companies are investing in providing smart locks embedded with biometrics, touchscreen, RFID and other advanced features. It also features the use of advanced RFID technology which is integrated with LED indicator and inbuilt buzzer. It is designed in rugged, sleek and compact way, which is gaining more demand in the smart locks market that meets the requirement of consumers at a reasonable cost.
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Companies such The Assa Abloy Group (Sweden), Allegion Plc. (Ireland), Dormakaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (U.S), Salto Systems S.L. (Spain), are the leading providers of smart lock in the global market. In 2017, The Assa Abloy Group has acquired August Home, a leading provider of smart locks in the market. With this acquisition, companies have strengthen their smart locks integrated with sensors and two generations of digital doorbells.
Market Research Analysis:
The global smart lock market is studied on the basis of four regions: the Americas, Europe, Asia Pacific, and Rest of world. North America region is dominating the global smart lock market. The smart lock market is witnessing a high growth due to huge demand due to use of Bluetooth, WI -Fi, ZigBee, Z-Wave, Thread, NFC, and others. Europe is projected to hold the second largest share of smart lock market during the forecast period. Asia Pacific is expected to witness the highest CAGR in the coming years.
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Intended Audience
• Smart lock companies
• Smart lock providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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