Smart Lock Market for Wi-Fi is expected to grow at the highest CAGR during the forecast period

 The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

Don’t miss out on business opportunities in Smart Lock Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

What are the Opportunities in Smart Lock Market?

 The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

High cost and perception of unreliability, and lack of awareness among customers act as restraints for the overall smart lock market. Price is a major factor restraining the growth of the market since the smart lock technology cost a lot more than their non-smart counterparts. Also, the switching cost of smart locks is high which makes it less attractive for consumers to invest. Factors such as power failure and hacking contribute to the perception of lack of reliability of smart locks among consumers.

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

Don’t miss out on business opportunities in Smart Lock Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Who are the Top Companies in Smart Lock Market?

 The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

Don’t miss out on business opportunities in Smart Lock Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Based on communication protocol, smart lock market for Wi-Fi to grow at highest CAGR by 2025

The report "Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2025" According to the new research report, the global Smart Lock Market is expected to grow from USD 1.1 billion in 2016 to USD 3.4 billion by 2025; it is estimated to grow at a CAGR of 13.1% during 2017–2025. Growing security and safety concerns, enhanced features compared with traditional lock systems, and rising adoption of smartphones and other connected devices are some of the major factors fueling the growth of this market.

Download PDF Brochure:-

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

Based on communication protocol, smart lock market for Wi-Fi to grow at highest CAGR from 2017 to 2025

The market for Wi-Fi is expected to grow at a highest CAGR from 2017 to 2025. Wi-Fi can be accessed through various devices such as smartphones, personal computers, and tablets. These devices can connect to the Internet through a wireless access point. The Wi-Fi Direct standard allows the formation of a connection between any 2 devices without a wireless router. The growth in the field of smartphones and tablets has led to the increased scope of IoT in smart locks, all of which are enabled with Wi-Fi connectivity.

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Smart Lock Market: Detailed Study of Growth Opportunities and Key Market Players

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

• Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

Based on lock type, Deadbolts is expected to hold a larger size of the global smart lock market

Based on communication protocol, smart lock market for Wi-Fi to grow at highest CAGR from 2017 to 2025

Smart lock market for residential vertical to grow at highest CAGR during forecast period

Research Objective

• To define, describe, and forecast the smart lock market, in terms of value, on the basis of lock type, communication protocol, vertical, and geography
• To forecast the market size, in terms of value, for the concerned segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To forecast the smart lock market, in terms of volume, on the basis of lock type
• To strategically analyze the micromarkets with regard to the individual growth trends, prospects, and their contribution to the smart lock market
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the smart lock market
• To analyze opportunities in the market for stakeholders and the details of the competitive landscape for the market leaders
• To provide a detailed overview of the smart lock value chain
• To benchmark players in the market using proprietary “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories pertaining to the business strategies and product portfolios
• To analyze competitive developments such as partnerships, acquisitions, expansions, agreements, collaborations, contracts, and product launches and developments, along with research and development (R&D) in the smart lock market
• To strategically profile key players in the smart lock market and comprehensively analyze their market shares and core competencies

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Based on communication protocol, smart lock market for Wi-Fi to grow at highest CAGR from 2017 to 2025

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

• Request Report Sample@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=82787906

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The market for Wi-Fi is expected to grow at a highest CAGR from 2017 to 2025. Wi-Fi can be accessed through various devices such as smartphones, personal computers, and tablets. These devices can connect to the Internet through a wireless access point. The Wi-Fi Direct standard allows the formation of a connection between any 2 devices without a wireless router. The growth in the field of smartphones and tablets has led to the increased scope of IoT in smart locks, all of which are enabled with Wi-Fi connectivity.

Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market in depth analysis - Global Forecast to 2023

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

• Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

The key players in the smart lock include ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market Growth factors, trends, key players and global industry analysis - Forecast to 2023

Smart Lock Market is expected to grow from USD 1.1 billion in 2016 to USD 3.4 billion by 2025; it is estimated to grow at a CAGR of 13.1% during 2017–2025.

Growing security and safety concerns, enhanced features compared with traditional lock systems, and rising adoption of smartphones and other connected devices are some of the major factors fueling the growth of this market.

• Download PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906

Deadbolts segment is expected to hold the largest size of the global smart lock market. Deadbolts are among the most commonly used exterior residential locks. Further, the factors such as low installation cost, high durability, and security from the intense intrusion or attack in residential, commercial, and other applications contribute to the growth of the market for deadbolts.


The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.


Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.


About MarketsandMarkets™
 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.


Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.


MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market Growth - Global Forecast 2023

The smart lock market is expected to be valued at USD 2.67 Billion by 2023 from USD 1.06 Billion in 2016, at a CAGR of 13.11% between 2017 and 2023. The base year considered for the study is 2016, and the forecast has been provided for 2017–2023.

Smart lock market for Wi-Fi is expected to grow with highest CAGR of during forecast period

Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

Residential vertical held the largest share of the smart lock market in 2016

Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

Smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region.

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

 Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market Key Players, Trends, Growth Factors and Geography - Global Forecast to 2023

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% during the forecast period. In 2016, the market was dominated by ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US), among others.

This research involves the use of secondary sources including directories and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the extensive technical and commercial study of the smart lock market. Primary sources mainly comprise several industry experts from the core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, reimbursement providers, technology developers, alliances, standards, and certification organizations related to various parts of the value chain of the industry. In-depth interviews with various primary respondents such as key industry participants, subject matter experts (SMEs), C-level executives of key players, and industry consultants have been conducted to obtain and verify critical qualitative and quantitative information as well as assess prospects.

ASSA ABLOY (Sweden) ranked first in the smart lock market in 2016. ABLOY is the leading player involved in design, manufacture, and sale of the digital and mobile door opening solutions. The company offers smart lock solutions under various brand names, such as Mul-T-Lock, HID Global Corporation, Yale, and iRevo. The company offers an extensive range of mechanical and electromechanical locks; digital door locks; security doors; and entrance automation solutions for the commercial, institutional, and residential markets. Under the brand name Yale, the company offers various smart locks such as Yale Smart Home GuideVisa navigation, Yale Real LivingVisa navigation, Yale LinusVisa navigation, Yale nexTouch, WirelessVisa navigation, Yale Multi-Family SolutionsVisa navigation, and YH Collection. The company focuses on the organic and inorganic strategies of product launches and acquisitions, respectively, to strengthen its position in the smart lock market. For instance, in July 2017, ASSA ABLOY launched new keyless touchscreen smart locks with capacitive touchscreen and weather-tight construction feature. Further, in June 2017, it acquired Atlantic Door Control (US), a provider of automatic door and entrance systems, to strengthen its presence in the North American smart lock market.

Allegion (Ireland) ranked second in the smart lock market in 2016. Allegion engages in the manufacture and supply of various wireless, wired, and stand-alone smart locks. The company offers various products through more than 25 global brands, such as CISA, Interflex, LCN, Schlage, and Von Duprin. Products offered under the Schlage brand include networked wireless, networked wired, stand-alone, and wireless accessories. The company also focuses on empowering its business through inorganic strategies, such as acquisitions, and organic strategies, such as product launches, to strengthen its market position. For instance, June 2016, the company acquired Trelock GmbH (Germany), a portable safety and security solution provider. This acquisition would help the company enhance its smart lock portfolio in the bicycle locks segment. In March 2015, Allegion launched updated feature for its Schlage advanced locks for Wink app. This new feature includes vacation mode, customizable user code, and battery level indication.

Smart lock market for Wi-Fi is expected to grow with highest CAGR of during forecast period

Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

Residential vertical held the largest share of the smart lock market in 2016

Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

 

Smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region.

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market estimated to be $2.67 billion by 2023

According to the new research report "Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023", The smart lock market is expected to grow from USD 1.28 billion in 2017 to USD 2.67 billion by 2023, at a compound annual growth rate (CAGR) of 13.11%.  Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

Browse 62 market data Tables and 39 Figures spread through 122 Pages and in-depth TOC on "Smart Lock Market - Global Forecast to 2023"

Smart lock market for Wi-Fi is expected to grow with highest CAGR of during forecast period

Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

Residential vertical held the largest share of the smart lock market in 2016

Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

Smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.

APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market: Bluetooth to hold largest size

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region.

High cost and perception of unreliability, and lack of awareness among customers act as restraints for the overall smart lock market. Price is a major factor restraining the growth of the market since the smart lock technology cost a lot more than their non-smart counterparts. Also, the switching cost of smart locks is high which makes it less attractive for consumers to invest. Factors such as power failure and hacking contribute to the perception of lack of reliability of smart locks among consumers.

The key players in the smart lock include ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US).

These players adopted various strategies such as product launches and developments, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to grow in the smart lock market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Smart Lock Market Vertical (Residential, Commercial, Institution and Government, Industrial) worth 2.67 Billion USD by 2023

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the smart lock market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

• Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownload.asp?id=82787906
This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the smart lock market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

North America expected to hold largest share of smart lock market during forecast period

North America is expected to hold the largest share of the smart lock market during 2017–2023. North America is home to the major smart lock players such as Spectrum Brands Holdings, Inc. (US), Onity, Inc. (US), Master Lock Company LLC (US), and August Home (US). The growth of the market in North America is attributed to the increasing demand for enhanced home security levels and growing popularity of integration of smart devices, such as tablets and smartphones, with smart locks in this region.

The report also profiles the most promising players in the smart lock market. The competitive landscape of this market presents an interesting picture where a large number of big and small players have become a considerable force. The key players in this market are ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US) among others.

About MarketsandMarkets™

 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430

Smart Lock Market worth 2.67 Billion USD by 2023 | North America expected to hold largest share

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the smart lock market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems  also drive the growth of this market.

Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownload.asp?id=82787906

North America is expected to hold the largest share of the smart lock market during 2017–2023. North America is home to the major smart lock players such as Spectrum Brands Holdings, Inc. (US), Onity, Inc. (US), Master Lock Company LLC (US), and August Home (US). The growth of the market in North America is attributed to the increasing demand for enhanced home security levels and growing popularity of integration of smart devices, such as tablets and smartphones, with smart locks in this region.

The report also profiles the most promising players in the smart lock market. The competitive landscape of this market presents an interesting picture where a large number of big and small players have become a considerable force. The key players in this market are ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US) among others.

The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period. Wi-Fi can be accessed through various devices, such as smartphones, personal computers, and tablets. The growth of the market for Wi-Fi can be attributed to the factors such as high speed and wireless connectivity offered to smart lock system. Also, the increasing adoption of IoT, globally, is driving the growth of this market.

The residential vertical held the largest share of the smart lock market in 2016. Smart locks are used in the residential applications to prevent invasion, unauthorized access, theft, and burglary.  The increasing adoption of Internet-based home security solutions, rising demand for smart homes, and growing urbanization contribute to the growth of the market for this vertical.

The smart lock market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Further, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

High cost and perception of unreliability, and lack of awareness among customers act as restraints for the overall smart lock market. Price is a major factor restraining the growth of the market since the smart lock technology cost a lot more than their non-smart counterparts. Also, the switching cost of smart locks is high which makes it less attractive for consumers to invest. Factors such as power failure and hacking contribute to the perception of lack of reliability of smart locks among consumers.

Inquiry Before Buying:-
https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=82787906

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. 

MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh 

MarketsandMarkets™ INC. 

630 Dundee Road 

Suite 430 

Northbrook, IL 60062 

USA : 1-888-600-6441