Smart Lock Market : Future Growth, Business Prospects, Forthcoming Developments and Future Investments by Forecast

Global Smart Lock Market

The latest report on the Smart Lock Market, as found on Qualiket Research website, is an extensive study of the market dynamics that are impacting both present market and the upcoming one. The market dynamics are expected to offer lasting impression on the holistic growth of the market. This has been analyzed well by adept market reviewers with immense knowledge and expertise in the subject. The study would bring along factors and figures to measure the track the market would take during the forecast period of 2020-2027.  The Smart Lock Market report enriched with various driving and restraining factors that have their core in volume-wise and value-wise analysis. Several other aspects have been included to measure the growth chart of the Smart Lock Market and they are various projections, demographic changes, historic details, and others.

Global Smart Lock Market was valued at USD 1.2 billion in 2019 which is expected to reach USD 2.88 by 2027 at a CAGR 13.12%.

Smart lock offers ease of use and works on either on Wi-Fi, Bluetooth, or both. Increase in usage of smartphones is an integral part today’s lifestyle in developing economics.  Rise in penetration of smartphones and more users acquire electronic devices for everyday use which is expected to drive the global smart lock market growth.

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Rise in investments in research and development activities by key competitors is the key driving factor which is expected to propel the global smart lock market growth. Furthermore, increase in adoption of advanced technologies like Internet of Things (IoT) which is expected to boost the growth of global smart lock market. Moreover, increase in number of smartphones and growing popularity of smart technology will have the positive impact on global smart lock market growth. Also, increase in awareness regarding security and safety concerns will fuel the smart lock market growth.

However, high cost of devices is the major restraining factor which is expected to hamper the growth of global smart lock market. Also, lack of awareness among customer will affect the global smart lock market growth.

Market Key Players

Various key players are discussed in this report such as Master Lock Company LLC, Gantner Electronic GmbH,  Cansec Systems Ltd., Onity, Inc., Salto Systems S.L., Spectrum Brands Holdings, Inc., Dorma+Kaba Holding AG, Allegion Plc , and  ASSA ABLOY AB

Market Taxonomy

By Product Type

  • Padlocks
  • Lever Handles
  • Deadbolts
  • Others

By Technology

  • Wi-Fi
  • Bluetooth

By End User

  • Residential
  • Commercial

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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