Smart Lock Market is valued at USD 1.1 Billion in 2016 is anticipated to grow USD 3.4 Billion with the Compounded nnual growth of 13.34% over the forecast period 2017 - 2025 by Planet Market Reports
New York 1 June 2018, As per the new research study conducted by Planet market Reports, Global Smart Lock industry is poised to raise USD 3.4 billion by 2025. The driving factor for Smart Lock market is the rising adoption of connected home solutions and soaring need to establish connectivity across all electronic devices and users houses as a consequence of growing penetration of smart homes as these are the key trends uplifting the market growth and Increasing penetration of smartphones which is also fuelling the demand for smart locks over the forecast period. Moreover, technological advancements are estimated to play a key role in the development of this market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
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Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Smart LockMarketby Lock Type
- Lever Handles
- Other Locks
Smart LockMarket by Communication Protocol
- Other Protocols Zigbee, Z-Wave, Thread, and NFC, among others
Smart LockMarket by Vertical
- Institution & Government
Smart LockMarket By Regions:
- North America
- Asia Pacific
- Rest of the World
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Furthermore, years considered for the study are as follows:
- Historical year 2015
- Base year 2016
- Forecast period 2017 to 2025
Some of the key manufacturers involved in the market are ASSA ABLOY Sweden , Allegion Ireland , dorma+kaba Switzerland , Spectrum Brands US , Salto Systems Spain , Onity US , Cansec Systems Canada , Master Lock US . Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Smart Lock in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers VARs
- Third-party knowledge providers
- Investment bankers