Indiana Headlines

Smart Lock Market Overview, Dynamics, Trends, Segmentation, Key Players, Application and Forecast to 2024 – IMARCGroup

 Breaking News
  • No posts were found

Smart Lock Market Overview, Dynamics, Trends, Segmentation, Key Players, Application and Forecast to 2024 – IMARCGroup

August 22
15:50 2019
Smart Lock Market Overview, Dynamics, Trends, Segmentation, Key Players, Application and Forecast to 2024 - IMARCGroup

Global Smart Lock Market to Reach US$ 2.7 Billion by 2024, Catalyzed by Increasing Incidences of Security Breaches – IMARCGroup
The global smart lock market is driven by increasing incidences of security breaches, along with the emerging trend of smart homes across the globe.

According to the latest report by IMARC Group, titled “Smart Lock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 1.3 Billion in 2018. Smart locks refer to electronic and mechanical locking devices that lock and unlock doors upon receiving instruction from an authorized source. They utilize a cryptographic key to verify and grant access to the user for a set period. The command and encrypted digital key are usually transmitted through mobile phones, tablets and wearable devices supporting Wi-Fi or Bluetooth connectivity. These door locks maintain a photo log of the people accessing the door with the help of a security camera. Users can also grant access to their homes to third parties by forwarding them a virtual key in the form of an email or text message.

Report Overview: https://www.imarcgroup.com/smart-lock-market

Global Smart Lock Market Trends:

The increasing security threat across the residential and commercial sectors is one of the key factors driving the market. Owing to their various benefits such as durability and ease of installation, smart locks are gaining widespread acceptance among users. Also, the emerging trend of smart cities and homes across the globe is acting as a major growth-inducing factor. With an increase in the number of smart home projects, there is a growing inclination toward advanced home security solutions. Furthermore, product innovations such as cloud-based locking/unlocking systems that can be monitored remotely through a virtual device are further creating a positive outlook for the market. Rising disposable income, increasing penetration rate of the internet, rapid urbanization and enhanced dependency of people on smart technology-based assistance are some of the other factors contributing to the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 2.7 Billion by 2024, expanding at a CAGR of around 13% during 2019-2024.

Request For Free Sample Pdf Copy @ https://www.imarcgroup.com/smart-lock-market/requestsample

Market Summary:

  • On the basis of the lock type, the market has been divided into deadbolts, lever handles, padlocks and others. Amongst these, deadbolts represent the most preferred segment.  
  • Based on the communication protocol, Bluetooth exhibits a clear dominance in the market. Other major segments include Wi-Fi and others.
  • On the basis of the end user, the market has been categorized into commercial, residential, institution and government, and industrial.
  • On the geographical front, North America holds the leading position in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. Some of these include Assa Abloy, Allegion Plc, Dorma+Kaba Holding AG, Spectrum Brands Holdings, Inc., Salto Systems S.L., Onity, Inc., Cansec Systems Ltd., Gantner Electronic GmbH, Master Lock Company LLC, MIWA Lock Co., Samsung Electronics Co., Ltd., Amadas Inc., Sentrilock, LLC, Avent Security and Dessmann.


Browse related reports

Global Smart Lighting Market Report and Forecast 2019-2024: https://www.imarcgroup.com/smart-lighting-market

Global Smart Parking Market Report and Forecast 2019-2024: https://www.imarcgroup.com/smart-parking-market

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Media Contact
Company Name: IMARC Group
Contact Person: Richard Lewis
Email: Send Email
Phone: 6317911145
Address:309 2nd St
City: Brooklyn
State: New York
Country: United States
Website: www.imarcgroup.com