Smart Lock Market is anticipated to grow at a CAGR of 13% during 2019 to 2024

Market-Research

The global smart lock market is projected to grow at a CAGR of 13% during 2019 to 2024. The growth of smart lock market is driven by growing security and safety concerns, enhanced features compared with traditional lock systems, and rising adoption of smartphones and other connecting devices.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising potential, high-growth opportunities for the smart lock market by lock type (deadbolts, lever handles, padlocks, other locks (knob locks, rim/mortise locks and rim cylinders, and rim latch locks), communication protocol (bluetooth, Wi-Fi, other protocols (Zigbee, Z-wave, thread, and NFC among others), end use industry (commercial, residential, institution & government, and industrial), and region (North America, Europe, Asia pacific (APAC), rest of the world (ROW))?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the smart lock market?

Q.4 What are some changing demands of customers in the smart lock market?

Q.5 What are the new developments in the smart lock market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this smart lock area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this smart lock market?

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Market Segmentation:

Based on lock type, the smart lock market is segmented into deadbolts, lever handles, padlocks, other locks (knob locks, rim/mortise locks and rim cylinders, and rim latch locks. The deadbolts segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to its low installation cost and durability.

APAC will remain the largest region over the forecast period.

Key Players in the smart lock market are ASSA ABLOY, Allegion, Dormakaba Holding, Spectrum Brands, Salto Systems, Onity, Cansec Systems, Samsung Electronics, Haven Lock and Master Lock.

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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.lucintel.com/smart-lock-market.aspx

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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