Brandessence Market Research has published a new report titled “Smart Lock Market 2018-2024: Forecasts by Lock Type (Bluetooth-enabled locks, Radio Frequency, Identification (RFID), Biometric Lock, App-Based and Others) by Application (Government, Commercial, Industrial and Residential), Leading manufacturer and Regional Market: Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2024”. According to the report, developing economies are the most lucrative market for Smart Lock market during the forecast period 2018-2024
Introduction to Smart Lock Industry:
Smart lock is an electronic locking system using wireless and advance technology for doors locking and unlocking operations. It is considered to be the important part of the smart home. It operates through the instructions received from an authorized device using a wireless protocol and a cryptographic key to execute the authorization process. Smartlocks also operates using smartphones, it required mobile application connected with the physical lock. It allows users to grant access to a third party by the means of a virtual key. This key can be sent to the recipient smartphone over standard messaging protocols such as e-mail or SMS.
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Market Dynamics for Smart Lock industry:
The market is mainly driven by the increasing incidences of crime globally. Rising security and safety concerns coupled with increasing awareness of security devices are expected to drive the smart lock market. Due to the high technological adoption in developed countries like U.S., Canada, and France among others. The increasing demand mainly from the developing regions like Middle East & Africa, Asia-Pacific, and South American countries are also driving the market. The emerging markets such as India, China, Brazil, Southeast Asia, and Japan are expected to change the trends and dynamics of the market in the future. The high cost of the smart lock may hamper the demand for the smart lock.
Smart Lock Market: Segment Overview
The global Smart Lock market is estimated to register a CAGR of 13.05% between 2018 and 2024. The market is mainly driven by the increasing demand for applications such as residential and commercial. Increasing investments in new infrastructure developments and an increase in GDP of China and India are increasing the demand for Smart Lock market. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World.
Browse the full ” Smart Lock Market 2018-2024: Forecasts by Lock Type (Bluetooth-enabled locks, Radio Frequency, Identification (RFID), Biometric Lock, App-Based and Others) by Application (Government, Commercial, Industrial and Residential), Leading manufacturer and Regional Market: Global Industry overview, Comprehensive Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2024” report at
This report segment of global Smart Lock market as follows:
Smart Locks Market by Lock Type,
- Bluetooth-enabled locks
- Radio Frequency Identification (RFID)
- Biometric Lock
- App Based
Smart Locks Market by Application,
Smart Lock Market: Regional Segment Analysis
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- The Middle East and Africa
- Rest Of MEA
This global Smart Locks market report covers top players like,
- Panasonic Corp.
- Honeywell International Inc.
- Schlage, Apigy Inc.
- Vivint Inc.
- Assa Abloy Group
- Samsung SDS Co. Ltd.
- Havenlock Inc.
- Home Inc.
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