Smart Lock Market size is expected to reach USD 8.87 billion in 2028 at a CAGR of 15.0% during the forecast period, according to the latest report by Emergen Research. Increasing need for safety and security of property, personal items, and other valuable items, rising adoption of smart home automation systems, growing preference for smart locks in commercial and corporate buildings, and rapid advancements in the smart lock technology are key factors expected to drive market revenue growth over the forecast period. The growing use of smart locks in the hospitality sector to improve in-room security and to regulate access to authorized individuals in factories, airports, banks, and defense zones, among others are some other key factors fueling the revenue growth of the market.
The Global Smart Lock Market research study published by Emergen Research is an extensive collection of insightful information The report covers the Smart Lock Market segmentation along with a detailed outline of the Smart Lock Market size with regards to volume and valuation. The report provides comprehensive coverage of the Smart Lock Market scenario for the current period and forecast timeline of 2018-2028. The Smart Lock Market report contains an in-depth analysis of the historical, current, and projected revenues for every industry vertical, segment, end-use industry, application, and region.
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The Smart Lock Market report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
The key companies studied in the report are:
Assa Abloy AB, Allegion Plc., dormakaba Holding AG, Spectrum Brands Holdings, Inc., SALTO Systems, Onity, Inc., Samsung SDS, Panasonic Corporation, The Master Lock Company, and Godrej Group.
Based on regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show significant growth owing to recent advancements and rising investments in the R&D sector.
Emergen Research has segmented the global smart lock market based on lock type, authentication method, communication protocol, application outlook, and region:
Lock Type Outlook (Revenue, USD Billion; 2018-2028)
- Lever Handles
Authentication Method Outlook (Revenue, USD Billion; 2018-2028)
- Pin Code
- RFID Cards
Communication Protocol Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Institutional & Government
The report addresses the following key points:
- The report estimates the expected market size from 2018-to 2028
- The report provides a forecast of market drivers, restraints, and future opportunities for the Smart Lock Market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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