The global smart lock market size is expected to reach USD 8.87 billion in 2028 at a CAGR of 15.0% during the forecast period, according to the latest report by Emergen Research. Increasing need for safety and security of property, personal items, and other valuable items, rising adoption of smart home automation systems, growing preference for smart locks in commercial and corporate buildings, and rapid advancements in the smart lock technology are key factors expected to drive market revenue growth over the forecast period. Growing use of smart locks in hospitality sector to improve in-room security and to regulate access to authorized individuals in factories, airports, banks, and defense zones, among others are some other key factors fueling the revenue growth of the market.

The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Smart Lock products is expected to drive the demand for Smart Lock, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market. Tools such as Porter’s Five Forces Analysis, SWOT analysis, feasibility analysis, and investment return analysis are used to analyze their growth patterns and market scope for the forecast period of 2020-2027.

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 The leading market contenders listed in the report are:

Assa Abloy AB, Allegion plc, dormakaba Holding AG, Spectrum Brands Holdings, Inc., SALTO Systems, Onity Inc., Samsung SDS, Panasonic Corporation, The Master Lock Company, and Godrej Group

Key reasons to buy the Global Smart Lock Market report:

  1. The latest report comprehensively studies the global Smart Lock market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
  2. The report offers an insightful analysis of the regional outlook of the market.
  3. It offers a detailed account of the end-use applications of the products services offered by this industry.
  4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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 Market Segmentations of the Smart Lock Market

  • Lock Type Outlook (Revenue, USD Billion; 2018–2028)

    • Lever Handles
    • Deadbolts
    • Padlocks
    • Others

  • Authentication Method Outlook (Revenue, USD Billion; 2018–2028)

    • Pin code
    • Biometric
    • RFID Cards  

  • Communication Protocol Outlook (Revenue, USD Billion; 2018–2028)

    • Wi-Fi
    • Bluetooth
    • Others

 

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 Regional Outlook of the Smart Lock Market

The global Smart Lock market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Smart Lock market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Key reasons to buy the Global Smart Lock Market report:

  1. The latest report comprehensively studies the global Smart Lock market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
  2. The report offers an insightful analysis of the regional outlook of the market.
  3. It offers a detailed account of the end-use applications of the products services offered by this industry.
  4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

Request Cumtomization as per your specific requirement@https://www.emergenresearch.com/request-for-customization/733

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