Industry Background:
Smart door locks are automatic key-less locks that are installed on the doors and they are operated by various applications through smartphone. These locks provide real time information about individual’s access and can be operated by Wi-Fi, Bluetooth, bio-metric and electromagnetic sensors. Owing to growing number of smart homes and smart city projects, the demand for smart door locks are expected to exhibit sound growth during foretasted period.This growth is primarily driven by Rising Urban Population
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2022-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Dominating Type | Fingerprint Locks |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Disc sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as ASSA ABLOY [Sweden], Samsung [South Korea], Allegion [Ireland], Kwikset [United States], MIWA Lock [Japan], Master Lock [United States], Guangdong Be-Tech [China], Adel [China], August Home Inc [United States], Honeywell [United States], Jiangmen Keyu Intelligence [China], Tenon Group [India], Locstar Technology Co., Ltd [United States] and Shenzhen Probuck Technologies Co. Ltd. [China], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Recently in September 2018, Kwikset launched a keypad less lock which is well suited for homeowners. The product is from company’s signature series deadbolt with home connects.
Influencing Trend:
Rising Adoption in Non-Residential Application and Finger Print Locks are in Demand Owing to Their Reliability
Market Growth Drivers:
Rising Urban Population, Growing Digitization and Smartphone Penetration and Rise in Construction of Smart Apartment
Challenges:
Non-Functional in Case of Power Outage and Lack of Technology Awareness in Rural Area
Restraints:
High Material Cost and Risk of Intrusion and Technology Breach
Opportunities:
Growth in Commercial and Hospitality Sector and People Inclination Towards Smart Home Solutions in Emerging Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Smart Door Locks Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Smart Door Locks Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Smart Door Locks players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Door Locks Study Sheds Light on
The Smart Door Locks Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Door Locks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Door Locks industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.