Smart Lock Market 2020 – Industry Analysis, Size, Share, Strategies, Demand Analysis And Projected Huge Growth By 2028 – Indian Defense News
The Global Smart Lock Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Smart Lock Market studies the market scenario to offer growth projections for the Smart Lock industry for the forecast period of 2020-2028.
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The global smart lock market size reached USD 2.92 Billion in 2020, and is expected to register a revenue CAGR of 15.0% during the forecast period. Market revenue growth is primarily driven by rising concerns among consumers regarding safety and security of property, valuables or personal items, and files etc. at home or in lockers and other related applications. Convenience, security, and connectivity offered by smart locks are key factors driving demand in recent years. Smart locks are IoT-enabled keyless entry devices that help the users to remotely access door locks through their smartphone. Increasing penetration of smartphones in developing countries is boosting demand for and deployment of smart locks. Smart locks utilize Wi-Fi, mobile apps, and popular voice assistants to lock and unlock doors at residences, grant temporary access to guests, and for sending alerts at times when the door is left open or unlocked. Increasing adoption of smart home and rising demand for connected devices are other key factors fueling demand for smart locks. A fully integrated home automation system helps in alerting the owners regarding any suspicious events and enables real-time monitoring of their homes.
The Global Smart Lock Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and Smart Lock market position .
The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the Smart Lock market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
The major companies studied in the report are:
Assa Abloy AB, Allegion plc, dormakaba Holding AG, Spectrum Brands Holdings, Inc., SALTO Systems, Onity Inc., Samsung SDS, Panasonic Corporation, The Master Lock Company, and Godrej Group
What Is Covered In The Report:
- Smart Lock Market Size in both revenue and volume
- Driving and Restraining Forces of the Smart Lock market
- Segmental analysis broken down into various subcategories
- Smart Lock Market Share Analysis of top competitors
- New Product Entry Strategies
- Location Analysis
- Smart Lock Market Forecast and Growth Projections
- Value chain and competitive matrix analysis
- Production and consumption trend analysis
- Regulatory compliance impacts on production process
- Alternative material sources and processes
- Customer Mapping Strategies
- Reduction in utilization rate of facilities
- Raw material procurement sources
- Devising alternative chemical routes for enhanced efficiency
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The report offers an accurate forecast estimation of the Smart Lock industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Smart Lock market. The report studies the historical data of the Smart Lock market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Segments Covered in this report are:
Lock Type Outlook (Revenue, USD Billion; 2018–2028)
- Deliver Handles
Authentication Method Outlook (Revenue, USD Billion; 2018–2028)
- RFID Cards
Communication Protocol Outlook (Revenue, USD Billion; 2018–2028)
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The report further examines the Smart Lock market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The Smart Lock report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2028.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (US, Canada)
- Europe (UK, Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
Key Objectives of the Report:
- Analysis and estimation of the Smart Lock market size and share for the projected period of 2020-2027.
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape.
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Smart Lock market.
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments.
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities.
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