Smart Locks Market Expected to Reach $1,175 Million Globally by 2023 - PowerPoint PPT Presentation

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Smart Locks Market Expected to Reach $1,175 Million Globally by 2023

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Smart home devices are considered as the most evolutionary innovation for the residential & commercial spaces, owing to their convenient, secure, and sustainable features. The global smart locks market is expected to evidence significant growth due to rise in security concerns and enhanced safety features provided through smart automation & security systems. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart locks address these issues with highly-sophisticated remote monitoring technologies. The global market size was valued at $416 million in 2016, and is estimated to reach at $1,175 million by 2023, growing at a CAGR of 16.4% from 2017 to 2023. – PowerPoint PPT presentation

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Title: Smart Locks Market Expected to Reach $1,175 Million Globally by 2023


1
GLOBAL SMART LOCKS MARKET
GLOBAL OPPORTUNITY AND FORECAST 2023
2
 
SMART LOCKS MARKET ANALYST REVIEW
Smart home devices are considered as the most
evolutionary innovation for the residential
commercial spaces, owing to their convenient,
secure, and sustainable features. The global
smart locks market is expected to evidence
significant growth due to rise in security
concerns and enhanced safety features provided
through smart automation security systems. With
an increase in the working population, safety
concerns with respect to aged parents and
children is the biggest challenge. Smart locks
address these issues with highly-sophisticated
remote monitoring technologies. Deepankar
Bose Manager, Consumer Goods at AMR
3
 
CURRENT AND FUTURE MARKET SCENARIO
  • The global smart locks market size was valued at
    416 million in 2016.
  • The global smart locks market is estimated to
    reach at 1,175 million by 2023.
  • The global smart locks market growing at a CAGR
    of 16.4 from 2017 to 2023. 
  • The lever handle smart locks segment is expected
    to grow at the highest CAGR of 18.1 from 2017 to
    2023.
  • The commercial segment is expected to dominate
    the market, owing to rise in penetration in
    hospitality industry, government offices, and
    office buildings.

4
 
TOP FACTORS CONTRIBUTING TO MARKET GROWTH
  • Applications in Commercial and Government Sectors
  • Smart locks technology plays a vital role in the
    government, residential, and commercial sectors.
    The safety and security of personal assets
    information and law enforcements are the major
    concerns behind the adoption of smart lock
    technology in the government sector. .
  • Unique Technology and Usage
  • Smart lock technology is unique and easy-to-use
    as compared to conventional methods. The
    technologies before smart locks were use of ID
    codes, passwords, mechanical locks, code words,
    and paper slips, which are tedious to maintain
    and have a high possibility of data theft or
    loss..
  • Standards of Living
  • The standard of living of people in the world has
    increased due to increased awareness of
    technology, higher disposable incomes, and
    developments in various industry verticals such
    as healthcare, government, and infrastructure..
  • Initial Investments
  • Core technology development is a crucial part in
    the smart locks market, for which a strong RD
    department is necessary, which incurs additional
    expense for maintenance.

5
 
SMART LOCKS MARKET SEGMENTATION
  • BY PRODUCT TYPE
  • Deadbolts
  • Lever Handles
  • Padlocks
  • Others
  • BY TECHNOLOGY
  • Bluetooth
  • Wi-Fi

BY END USER Residential Commercial
Get PDF Sample Copy_at_ https//www.alliedmarketresea
rch.com/request-sample/2261
6
The commercial segment is expected to dominate
the market, owing to rise in penetration in
hospitality industry, government offices, and
office buildings.
7
 
GEOGRAPHICAL OVERVIEW
  • Based on region, it is analyzed across North
    America, Europe, Asia-Pacific, and LAMEA.
  • Rise in construction activities in Asia-Pacific
    are expected to fuel the demand for smart locks
    in the market.
  • U.S. accounted for the highest customer base in
    the North American smart locks market in 2016,
    and is anticipated to dominate the market
    throughout the forecast period.

8
 
DOMINATING MARKET PLAYERS
  • Schlage
  • Honeywell International Inc.
  • Panasonic Corporation
  • Vivint, Inc.
  • ASSA ABLOY AB
  • UniKey Technologies Inc.
  • Haven Lock, Inc.
  • August Home
  • Spectrum Brands, Inc.
  • Samsung SDS Co. Ltd.

9
 
A Report Titled Smart Locks Market-
Opportunities And Forecasts, 2017 2023 has been
recently published by Allied Market Research. It
makes an In-depth Analysis of current trends,
drivers, and restraining factors that affect
Financial Ratios relevant to the industry.
Company profiles for key vendors in business
builds a comprehensive picture of profitable
opportunities from Stakeholders Perspective. To
Know More About Smart Locks Market- Opportunities
and Forecasts 2017-2023 https//www.alliedmarketre
search.com/smart-locks-market Get PDF Sample
Copy https//www.alliedmarketresearch.com/request-
sample/2261 Follow Allied Market Research
10
 
ABOUT ALLIED MARKET RESEARCH
Allied Market Research (AMR) is a full-service
market research and business-consulting wing of
Allied Analytics LLP based in Portland, Oregon.
Allied Market Research provides global
enterprises as well as medium and small
businesses with unmatched quality of "Market
Research Reports" and "Business Intelligence
Solutions." AMR has a targeted view to provide
business insights and consulting to assist its
clients to make strategic business decisions and
achieve sustainable growth in their respective
market domain. We are in professional corporate
relations with various companies and this helps
us in digging out market data that helps us
generate accurate research data tables and
confirms utmost accuracy in our market
forecasting. Each and every data presented in the
reports published by us is extracted through
primary interviews with top officials from
leading companies of domain concerned. Our
secondary data procurement methodology includes
deep online and offline research and discussion
with knowledgeable professionals and analysts in
the industry.
Contact Shriram Dighe 5933 NE Win Sivers
Drive 205, Portland, OR 97220 United States Toll
Free 1-800-792-5285 UK 44-845-528-1300 Hong
Kong 852-301-84916 India (Pune)
91-20-66346060 Fax 1-855-550-5975 help_at_alliedma
rketresearch.com Web https//www.alliedmarketrese
arch.com
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