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+17% CAGR Growth to Be Achieved by Smart Locks Market; Growth, Analysis, Business Opportunities, Challenges, and Emerging Trends, New Tech Developments 2024
Global Smart Locks Market Research Report 2024,” Smart locks - the lock technology consisting of locks that can be operated with the help of unconventional means such as remote control and provide the user with alerts and tracking data about who entered or left the locked premise, are increasing emerging as promising alternatives to conventional loc ks. The market has expanded at a promising pace in the past few years, in tandem with the development of mobile computing devices and telecommunication networks.
Smart locks are electronic locks installed on the doors, which can be operated through various apps on user’s smartphones. These are keyless locks that operate on either Wi-Fi, Bluetooth, or both. The smart locks industry is anticipated to grow at a significant pace, owing to increase in security & privacy concerns, advancements in wireless communication technologies, rise in disposable income of consumers, surge in urbanization, and the growth in need to establish connectivity across all the electronic equipment of the house
Global smart locks market will register a promising +17% CAGR from 2016 to 2024, rising to a valuation of US+$1 bn by the end of 2024 from US+$225 mn in 2015
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Top Key Players: August Home, ASSA ABLOY AB, Haven Lock, Inc., Honeywell International Inc., Panasonic Corporation, Samsung SDS Co. Ltd., Schlage, Spectrum Brands, Inc., UniKey Technologies Inc., and Vivint
Smart locks have started finding increased usage and adoption in residential, commercial, government, and industrial establishments. While all these are considered to be lucrative end-use areas for the global smart locks market, the segment of commercial establishments is expected to remain the most lucrative in the next few years.
Estimated that the technology and infrastructure required for large-scale use of smart locks will eventually become more accessible and economical for developing economies such as China, South Korea, Japan, and India, driving the Asia Pacific market for smart locks. As a result, the demand and uptake of smart locks in these regions will also rise at a promising pace over the report’s forecast period.
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Table of Content:
Chapter 1 Industry Overview of Smart Locks
Chapter 2 Manufacturing Cost Structure Analysis of Smart Locks
Chapter 3 Technical Data and Manufacturing Plants Analysis of Smart Locks
Chapter 4 Global Smart Locks Overall Market Overview
Chapter 5 Smart Locks Regional Market Analysis
Chapter 6 Major Manufacturers Analysis of Smart Locks
Chapter 7 Development Trend of Analysis of Smart Locks Market
Chapter 8 Smart Locks Marketing Type Analysis
Chapter 9 Conclusion of the Global Smart Locks Market Professional Survey Report 2018
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