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 latest market study, Smart Lock Market blends in qualitative and quantitative research techniques to present vital data on the competitive landscape for the period of 2021 –2030 .This research allows the business owners/individuals/ stakeholders to collect decisive information about market segmentation based on product category, usage and sale volume across the various geographical regions. Business stakeholders can prepare effective expansion plan by using the statistics on market share, size and the growth rate discussed in the report. Unmatched information on past, present and upcoming market trends covered in the study offer lucidity on the future projection of the industry.
Covid impact analysis :
The global Smart Lock Market report by emergen research is the latest document covering the changes in the market dynamics and trends that have followed the COVID-19 outbreak. The global health emergency has brought about unprecedented changes in the global economic scenario, drastically affecting the Smart Lock Market landscape, disrupting its supply chains, and causing volatility in prices and demand for products. The report analyzes the impact of the pandemic on the Smart Lock Market industry and highlights its beleaguered segments. However, our analysts speculate that the market will regain traction in the post-COVID scenario.
The market concentration rate and processing rate of raw materials have also been conscripted in the report.
The report contains an assessment of the current price trends, as well as the factors influencing the global market size.
It throws light on the significant marketing strategies implemented by the eminent players in the industry.
Vital data and information concerning the producers, distributors, and downstream buyers involved in the global market, as well as the cost structure analysis and market mechanism, form the important elements of this report.
factors related to their market growth potential, drivers, opportunities, threats, and industry-specific challenges.
Furthermore, the report underpins the strategic developments occurring in the global Ventricular Assist Devices Market, such as expansions, mergers & acquisitions, agreements, as well as new product launches
For the purpose of this report, Emergen Research has segmented the global smart lock market on the basis of lock type, authentication method, communication protocol, application outlook, and region:
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
Application Outlook (Revenue, USD Billion; 2018-2028)
Residential
Commercial
Industrial
Institutional & Government
Key Geographies Profiled in the Report:
North America (the U.S., Mexico, and Canada)
Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
Europe (the U.K., France, Germany, and Rest of Europe)
Latin America (Brazil and Rest of Latin America)
Middle East & Africa (GCC Countries and Rest of Middle East & Africa)
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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