This Smart Locks market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Smart Locks market.
A number of emerging devices have attributed to the upsurge of global smart homes over the last few years. Smart locks is expected to be one of the utmost promising offering among all the devices over the succeeding years. Smart locks is not a completely novel industry. There has been efforts to revolutionize the traditional locks and key with numerical keypad locks. In smart locks, instead of accessing the lock with you keys, you can control access to the lock using a phone, wireless key fob or even distantly over the internet. Most of the smart locks are simple and are at-home installable devices that can fit over the thumb turn of a deadbolt contained on the inside portion of the door. The smart locks cost approximate US$ 170 to US$ 260 and is still considered a luxury device for an average residential customer.
Smart Locks Market: Drivers & Restraints
The key drivers driving the growth of global smart locks are increased popularity of smart home services coupled with smartphone penetration, which is expected to reach saturation points in the next two to three years. Moreover, declining costs of ubiquitous mobile broadband and cloud infrastructure have also aided in allowing users to easily remotely monitor and control any device, be it a smart lock or a smart thermostat. Some of the other factors driving the growth of global smart lock includes its various advantages such as allowing users to grant others access to their locks directly from their phones, convenience of being able to walk up to a door and have it automatically unlock without having to reach for one’s keys and many others. One of the major challenge for global smart locks market is the issue of one’s phone potentially dying. In such a scenario, a physical key still works. Furthermore, phones and back end clouds can be hacked, hence there remains a real and perceived security risk related to smart locks. Also, it will be critical for startups to heavily invest in security since the headline and publicity risk is the largest in the early market. The ubiquity of smartphones and low power communication protocols, along with improved technologies primarily related to geo-locating an individual have created new opportunities to enhance user experience that can be further explored in this market.
Smart Locks : Region-wise Outlook
Currently North America is expected to be the largest market for global smart locks. This market is anticipated to observer the maximum growth in the Asia-Pacific region, especially in countries such as India, China and Japan. Smart Locks market is predicted to expand at a stable rate in other regions of the world as a result of a decelerating worldwide economy in these regions.
Smart Locks Market : Key Players
Some of the market participants in the global smart locks market are AT&T Intellectual Property, Comcast, Lowe’s Companies, Inc., Staples, Inc., UniKey Technologies, Inc., Yale Real Living, MIWA Lock Co. and HAVEN among many others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Smart Locks Market: Segmentation
On the basis of sub-market, the global smart locks market is segmented into,
- Data Center Security
- Energy Security
- Casino Management
- Physical Security
- Port Security
On the basis of applications, the global smart locks market is segmented into,
- Smart Homes
On the basis of sub-product, the global smart locks market is segmented into,
- Motion Sensor
- Touch Screen
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Smart Locks Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Smart Locks Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Smart Locks Market report?
In addition to up-to-date market figures and customized of the Smart Locks Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.