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Global Smart Lock Market Report 2022: Featuring Asa Abloy,

Global Smart Lock Market Report 2022: Featuring Asa Abloy,

Global Smart Lock Market Report 2022: Featuring Asa Abloy,

DUBLIN, November 07, 2022 (Globe Newswire) — The “Global Smart Lock Market, Size, Forecast 2022-2027, Industry Trends, Growth, Insights, Impact of COVID-19, Opportunities Company Analysis” report has been added ResearchAndMarkets.com’s Presentation.

The global smart lock market will be worth US$ 5.80 billion by 2027. Today’s world is an innovative world we live in, and smart technology makes a significant contribution to this. For decades, the world has been moving towards automation, fueling the smart lock industry. Over time, technological advancements have paved the way for smart access to everyday items, solving and easing the problems of daily living through the Internet. Notably, the proposed development of the smart lock has network connectivity, which is ready to perform locking and unlocking functions on the door when it receives a signal to send and receive data.

The growing market for smart locks is projected to expand with a CAGR of 16.7% during 2021-2027:

Over the years, people have adopted smart lock systems with advanced security features in their smart homes and consider it a value-added service for a better quality of life. Hence, the demand for smart locks has increased significantly in developed regions globally. Moreover, the increasing use of smartphones and other smart devices is also fueling the growth of the smart lock market. Notably, the above factors encourage electronic lock vendors to innovate their locking solutions, accelerating the growth of the smart lock industry.

The Deadbolt Segment Market Continues to Grow Backed by Rising Adoption in Residential Applications:

In our report, on the basis of type, the market has been segmented into deadbolt, lever handle, padlock, and others. The deadbolt segment is anticipated to cover a huge smart lock market share owing to the increasing demand for smart locks in residential buildings. Nevertheless, due to the increasing integration of connectivity technologies such as Bluetooth, Zigbee, and others, other components, such as lever handles and padlocks, are set to grow substantially during the forecast period.

Adoption of Face, Iris, and Fingerprint Recognition Drives Growth of Biometric Door Lock Segment:

On the basis of product the market has been segmented into PIN code, Biometric and RFID cards. The Biometric Door Lock segment is envisaged to capture a significant share in the industry. The growth of the market is due to the increasing adoption of biometric applications such as facial recognition, palm recognition, iris recognition and fingerprint recognition. The PIN code and RFID card segment is predicted to exhibit a substantial growth rate due to the increasing enactment of Wi-Fi connecting technology.

Increasing investment by start-ups to launch Bluetooth-enabled locks drives the segment:

On the basis of connecting technology the market has been classified as Wi-Fi and Bluetooth. The increasing investment by start-ups launching door locks enabled with Bluetooth technology is expected to account for the maximum share for the Bluetooth segment. Further, the rate of residential buildings is expected to continue to grow during the forecast period with the Wi-Fi segment witnessing a significant growth on account of adoption of cloud-based home automation applications.

Residential Market Demand for a Major Shift for Smart Locks as Technology Gains Traction:

The smart lock market has been segmented on the basis of application into residential, hospitality, enterprise, critical infrastructure, and others. Electronic access control was once the only protection of commercial buildings. In addition, now smart locks are quickly finding a place in hospitality. Furthermore, it is rare to find large hospitality who still use mechanical keys. In addition, electronic access control has also become a fixture in critical infrastructure blocks, although usually only at main entrances with intercom systems. As per our analysis, the residential segment is expected to account for the largest share during the projected period.

Type – The market is covered from 4 perspectives:

  • dead shop
  • lever handle
  • Lock
  • other

Product Type – The market is covered from 3 perspectives:

  • Pin Code
  • biometric
  • rfid card

Technology – The market is covered from 3 perspectives:

Application – The market is covered from 5 perspectives:

  • residential
  • hospitality
  • enterprise
  • critical infrastructure
  • other

Sector – The market is covered from 4 perspectives:

  • North America
  • Europe
  • Asia Pacific
  • queue

Company Insights:

  • Observation
  • fresh development
  • revenue

Company Analysis:

  • asa abloy
  • charge plc
  • Dormakaba Holding Company,
  • Spectrum Brand
  • Samsung Electronics Company Limited
  • avent security
  • Fortune Brands Inc.
  • Dear Inc.
  • Panasonic Corp
  • media group

Major topics covered:

1. Introduction

2. Research and Methodology

3. Executive Summary

4. Market Dynamics

5. Global Smart Lock Market

6. Market Share – Global Smart Lock Market

7. Type – Global Smart Lock Market

8. Product Type – Global Smart Lock Market

9. Technology – Global Smart Lock Market

10. Application – Global Smart Lock Market

11. Region – Global Smart Lock Market

12. Mergers and Acquisitions

13. Porters Five Forces

14. Company Analysis

mention of companies

  • asa abloy
  • charge plc
  • Dormakaba Holding Company,
  • Spectrum Brand
  • Samsung Electronics Company Limited
  • avent security
  • Fortune Brands Inc.
  • Dear Inc.
  • Panasonic Corp
  • media group

For more information about this report, visit https://www.researchandmarkets.com/r/xswz16



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