Global Smart Door Lock Market is anticipated to reach USD 3.6 Billion by the end of 2027 – Research Nester

Posted October 9, 2018 by DenMark1

Global smart door locks market is valued at USD 0.9 Billion in 2017 and is anticipated to reach USD 3.6 Billion by the end of 2027.

“Smart door lock Market: Global Demand Analysis & Opportunity Outlook 2027”

The Global smart door lock market is segmented into product type such as non mobile app based which include biometric door lock, face door lock ,iris door lock, voice door lock palm door lock, magnetic and electric strip door lock. It is also segmented on the basis of connectivity and the end user industries such as corporate, industrial, government and residential sectors. The residential segment in the end user is anticipated to grow at the highest CAGR due to the ease of usage of smart lock. Moreover, rising need for keyless unlocking mechanism and also surge in demand for smart security solutions are also expected to increase the market growth of smart door lock market.

Global Smart Door Lock is predicted to witness significant growth primarily in cloud-based locking and unlocking management solutions. Rising development and implementation of various advanced technologies, such as Near Field Communication (NFC), and Bluetooth Low Energy (BLE), to operate locking functions is likely to boost the growth of the market over the forecast period. Adoption of highly technological keyless access devices is comparatively more in established markets, such as the U.S. and Europe, as compared to developing economies. Smart lock are progressively gaining importance across Asian countries such as Japan and China due to the growing awareness of niche technology products among the consumers.

The North American smart door lock market is predicted to offer growth opportunities during the forecast period, mainly due to developing technological infrastructure, consumer awareness, rise in security concerns, rise in government supports and also large investment from major IoT players. In North America, the U.S. dominates with highest share in smart door lock market.

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Asia-Pacific is expected to grow at the highest rate over the forecast period owing to increasing urbanization and increasing consciousness about automated solutions, high penetration of internet-based services, developments in information technology & broadband services.

Government initiatives will boost the Smart Door Lock Market

Propagation of wireless communication technologies coupled with rising consciousness regarding associated devices is expected to drive the market over the predicted period. The government initiative like smart cities which is focused on the security and the safety of the people is one of the main reasons for expansion of the market. Rising acceptance of smart doorlock technology for non-residential applications is expected to boost to the market. The hospitality industry has also started implementing smart door lock in response to growing concerns among customers concerning about security.

The report titled,” The Global smart door lock market: Global Historical Growth (2013-2017) & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation”, delivers detailed overview of the Global smart door lock market in terms of market segmentation by product, connecting technology, by distribution and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the Global smart door lock market which includes company profiling of some of the key companies like Samsung, Assa Abloy, Panasonic, kadas, masterlock, August, Haven ,yale etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global smart door lock market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester:

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

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Issued By Ajay Daniel
Country United States
Categories Business , Electronics , Technology
Tags global smart door lock market , smart door lock market , smart door lock market forecast , smart door lock market growth , smart door lock market news , smart door lock market research
Last Updated October 9, 2018