DUBLIN--(BUSINESS WIRE)--The "Smart Lock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global smart lock market was worth US$ 1.3 Billion in 2018 and is expected to reach a value of US$ 2.7 Billion by 2024, registering a CAGR of around 13% during 2019-2024.
A smart lock is an electro-mechanical door lock system that performs the locking and unlocking function upon receiving commands from an authorized source. These commands are usually transmitted through smartphones, wearable devices or tablets using Wi-Fi or Bluetooth. Smart locks can be monitored from any location and customized to restrict universal access.
Furthermore, they provide monitoring features such as access notifications through SMS and e-mail and video camera with recording capabilities to provide visuals of the person at the door. They also have features such as auto-locking options that automatically lock a door if left unlocked for a specific period and perimeter auto-locking that automatically locks the door if the user's smartphone is outside the designated perimeter.
Increasing acceptance of advanced home security solutions and usage of smart devices are among the key factors driving the global market. A rising number of security threat incidents along with the development of smart cities have created the need for smart locks in both the residential and commercial sectors. Smart locks have high durability and low installation costs and provide a greater sense of security to the user. Consequently, they are rapidly replacing the traditional locking systems that included bulky locks with keys that are more prone to loss and theft.
Additionally, owing to rising urbanization and disposable income along with robust growth of the IoT technology, people are more inclined toward smart-technology-based assistance for their daily life functioning.
Furthermore, implementation of innovative technologies, such as cloud-based locking/unlocking that enables the user to access these locks through a virtual device remotely, is also expected to catalyze the market growth.
Key Questions Answered in This Report:
- How has the global smart lock market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global smart lock industry?
- What is the breakup of the market based on the lock type?
- What is the breakup of the market based on the communication protocol?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the global smart lock industry?
- What are the key driving factors and challenges in the global smart lock industry?
- What is the structure of the global smart lock industry and who are the key players?
- What is the degree of competition in the global smart lock industry?
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Smart lock Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Lock Type
5.4 Market Breakup by Communication Protocol
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Lock Type
6.2 Lever Handles
7 Market Breakup by Communication Protocol
8 Market Breakup by End-User
8.3 Institution and Government
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Assa Abloy
14.3.2 Allegion Plc
14.3.3 Dorma+Kaba Holding AG
14.3.4 Spectrum Brands Holdings, Inc.
14.3.5 Salto Systems S.L.
14.3.6 Onity, Inc.
14.3.7 Cansec Systems Ltd.
14.3.8 Gantner Electronic GmbH
14.3.9 Master Lock Company LLC
14.3.10 MIWA Lock Co.
14.3.11 Samsung Electronics Co., Ltd.
14.3.12 Amadas Inc.
14.3.13 Sentrilock, LLC
14.3.14 Avent Security
For more information about this report visit https://www.researchandmarkets.com/r/p6ufaf