According to Goldstein Research, “Rising urbanization and growing trend of smart technologies is increasing the consumer’s interest towards smart door locks.” Smart door locks is a best substitute which provides more security features than conventional door locks with real time monitoring. Smart door locks are widely used in hotels and smart homes. In past few years, hospitality sector has witnessed huge growth and hotel industry has been spent millions of dollar in upgrading the properties to cater the safety need of international customers. Rising demand of smart door locks in hospitality sector will further uplift the growth of smart door lock market all across the globe. Smart door locks market segmentation has been carried out on the basis of products, connectivity technology, distribution channel and end users. End user is further bifurcated into commercial sector and residential sector. Commercial sector accounted for the major share in global smart door locks market. Growing usage of smart door locks in large enterprises for the security and restricted entries are the major factors driving the growth of this segment. Goldstein's market research analyst predicts the global smart door locks market to grow profoundly at a CAGR of more than 19% by 2024. Smart door locks market is in nascent stage but the global smart door locks market is expected to grow significantly owing to its various security and convenience benefits. North America is the dominating region for smart door locks market in 2015 and is expected to dominate the global market during the forecast period of 2016-2024. North America smart door locks market accounted for more than 30% share in global smart door locks market which is further expected to expand at a CAGR of 27% over the forecast period. United States is expected to dominate the smart door locks market followed by Canada as the North America is the world's most advanced smart home market with more than 21.8 million smart homes installed in 2016.

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Market Segmentation
• By Products
o Non Mobile App Based
 Biometric Based Smart Locks
 Face Recognition Door Locks
 Palm Recognition Door Locks
 Iris Recognition Door Locks
 Voice Recognition Door Locks
 Fingerprint Recognition Door Locks
 Signature Recognition Door Locks
o Hybrid/Integrated Locks
 Magnetic Strip Door Locks
 Electric Strike Door Locks
• By Connectivity Technology
o Mobile App Based
o Wi-Fi
o Bluetooth
• By End Users
o Industrial Sector
o Corporate Sector
o Government Sector
o Residential Sector
• By Distribution Channel
o Online Channel Distribution
o Offline Channel Distribution
• By Geography
o North America (US, Canada)
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World

“Global Smart Door locks Market Outlook 2024” contains detailed overview of the global smart door locks market in terms of market segmentation by product type, connectivity technology, distribution channel and end users.
Further, for the in-depth analysis, the smart door lock market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global Smart Door Locks Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Samsung, Panasonic, Guangdong Be-Tech Security Systems, DESSMANN, Lockitron, Kaadas, Masterlock, ASSA ABLOY etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global smart door locks market trends 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.

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