The ‘ Smart Locks market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview; Smart Locks derived key statistics, based on the market status of the manufacturers and is a valuable source of guidance and direction for companies and individuals interested in Smart Locks market size forecast, Get report to understand the structure of the complete fine points (Including Full TOC, List of Tables & Figures, Chart).
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A systematic step framework for How to Tackle The Situation… “MITIGATE” | “SUSTAIN” | “GROW”: Business Strategy Recovery, Scenario and Planning
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
covid-19 scenario | Market Behavior/ Level of Risk and Opportunity | End Industry Behavior/ Opportunity Assessment | Expected Industry Recovery Timeline | Business Impact Horizon |
Opening of Economy by Q3 2020 | xx | xx | xx | xx |
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 | xx | xx | xx | xx |
Smart locks are keyless electronic locks that use Wi-Fi or Bluetooth to interact with the other electronic devices, such as thermostat, air conditioners, CCTV, and others. The locking and unlocking operations are performed with a keyless fob or through various smart lock apps installed on the user’s smartphone. It operates with authenticated authorized instruction and devices either by wireless protocol or cryptographic key.
The smart lock technology uses Internet of Things (IoT) and internet connectivity to identify the user and provide remote access & control to the user using a digital interface. This technology provides advanced methodology over traditional key-based locks and is used to secure the personal property and belongings from theft and burglaries. It works on both Wi-Fi and Bluetooth that makes it beneficial in variety of crucial applications, such as government office security, residential security, surveillance in offices & enterprises, and others.
The smart locks market is driven by growth in applications in the commercial, residential, and government sectors. Furthermore, the increase in need for enhanced security systems in the organizations and usage of portable connected smart devices are the other key factors that accelerate the smart locks industry growth. However, smart locks have their own limitations, such as high initial investments and high cost of devices, insecurity towards privacy intrusion, and loss of smartphones. Broader technology trends, growth in popularity of smart home & smart technology, and convenience have created growth opportunities for key players operating in the electronic locks market.
Smart locks market is segmented on the basis of product type, technology, end user, and geography. Based on product type, it is classified into deadbolts, lever handles, padlocks, and others. Further, the others segment includes footplate locks, rim latches, and wall mounted locks. On the basis of technology, it is bifurcated into Wi-Fi and Bluetooth. In 2016, the Bluetooth technology accounted for about 58% share in the global smart locks market. Based on end user include commercial and residential sectors. Enterprises, government institutions, research labs, and others are considered under the commercial sector.
Proactive government initiatives to standardize security technologies and rapid urbanization & infrastructural developments in the emerging countries are expected to foster the market growth in the commercial and residential sector. The residential segment is expected to grow at a CAGR of 17.8% during the forecast period.
The global smart locks market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period, owing to the presence of large number of established smart lock manufacturers in the U.S., Canada, and Mexico. The Asia-Pacific market is expected to grow at a significant rate in the near future on account of the surge in working population, spiraling technology hubs, and blooming smart homes industry.
The major players active in the smart locks market are August Home, ASSA ABLOY AB, Haven Lock, Inc., Honeywell International Inc., Panasonic Corporation, Samsung SDS Co. Ltd., Schlage, Spectrum Brands, Inc., UniKey Technologies Inc., and Vivint, Inc. These market leaders have maintained their market position with proposed quality maintenance and use of innovative technology.
KEY BENEFITS
This report provides quantitative and qualitative analyses of the current market trends and estimations from 2016 to 2023, which assist to identify the prevailing market opportunities in different product segments.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analysis have been elucidated.
Smart locks market trends of major countries in each region are mapped according to the estimated revenue.
Porter’s Five Forces model illustrates the threat of new entrants & substitutes and strength of the buyers & suppliers.
Key manufactures of smart locks products are profiled and their recent developments are listed.
Key Segments Studied in the Global Smart Locks Market
Professional Key players:
August Home, ASSA ABLOY AB, Haven Lock, Inc., Honeywell International Inc., Panasonic Corporation, Samsung SDS Co. Ltd., Schlage, Spectrum Brands, Inc., UniKey Technologies Inc., and Vivint, Inc. |
Market Segmentation: |
Smart Locks Market
By Product Type (Deadbolts, Lever handles, Padlocks, and Others), Technology (Wi-Fi and Bluetooth), By End User (Commercial and Residential) – Global Opportunity Analysis and Industry Forecast, 2017-2023 |
Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
In-Depth Qualitative Analyses Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Furthermore, the years considered for the study are as follows:
Historical year – 2014-2019 | Base year – 2019 | Forecast period** – 2020 to 2027 [** unless otherwise stated]
Changing Forecasts in a Time of Crisis: explores key issues, including:
Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
Q.1 What are some of the most promising potential, high growth opportunities for the global market by application, by product, by end user and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster speed and why?
Q.3 Which regions will grow at a faster speed and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats of market?
Q.6 What are emerging trends in market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the leading players in market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this market?
Q.11 What M & A activities have taken place in the last five years in this market?
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Key Points Covered in Smart Locks Market Report: COVID 19 Impact Analysis
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of market, Market Segment by Regions,
Chapter 2, to analyze objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5 , to show the Overall Market Analysis, segmentation analysis, characteristics; Detailed Overview of COVID 19 Outbreak Impact Analysis
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation[United States, EU, Japan, China, India & Southeast Asia ], comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis2020 Updated & Covid 19 Impact and Recovery
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply. Drives Future Change
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning) COVID-19 Economic Impact Reports &Providing Clarity in a Time of Crisis
Chapter 15, deals with Global Smart Locks Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
Continued….
……..and view more in complete table of Contents
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