Smart Locks Market Expected to Reach $1,175 Million Globally by 2023

1. GLOBAL SMART LOCKS MARKET GLOBAL OPPORTUNITY AND FORECAST 2023

2. SMART LOCKS MARKET ANALYST REVIEW Smart home devices are considered as the most evolutionary innovation for the residential & commercial spaces, owing to their convenient, secure, and sustainable features. The global smart locks market is expected to evidence significant growth due to rise in security concerns and enhanced safety features provided through smart automation & security systems. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart locks address these issues with highly-sophisticated remote monitoring technologies. Deepankar BoseManager, Consumer Goods at AMR

3. CURRENT AND FUTURE MARKET SCENARIO • The global smart locks market size was valued at $416 million in 2016. • The global smart locks market is estimated to reach at $1,175 million by 2023. • The global smart locks market growing at a CAGR of 16.4% from 2017 to 2023. • The lever handle smart locks segment is expected to grow at the highest CAGR of 18.1% from 2017 to 2023. • The commercial segment is expected to dominate the market, owing to rise in penetration in hospitality industry, government offices, and office buildings.

4. TOP FACTORS CONTRIBUTING TO MARKET GROWTH • Applications in Commercial and Government Sectors • Smart locks technology plays a vital role in the government, residential, and commercial sectors. The safety and security of personal assets & information and law enforcements are the major concerns behind the adoption of smart lock technology in the government sector. . • Unique Technology and Usage • Smart lock technology is unique and easy-to-use as compared to conventional methods. The technologies before smart locks were use of ID codes, passwords, mechanical locks, code words, and paper slips, which are tedious to maintain and have a high possibility of data theft or loss.. • Standards of Living • The standard of living of people in the world has increased due to increased awareness of technology, higher disposable incomes, and developments in various industry verticals such as healthcare, government, and infrastructure.. • Initial Investments • Core technology development is a crucial part in the smart locks market, for which a strong R&D department is necessary, which incurs additional expense for maintenance.

5. SMART LOCKS MARKET SEGMENTATION • BY PRODUCT TYPE • Deadbolts • Lever Handles • Padlocks • Others • BY TECHNOLOGY • Bluetooth • Wi-Fi BY END USER Residential Commercial Get PDF Sample Copy@ https://www.alliedmarketresearch.com/request-sample/2261

6. The lever handle smart locks segment is expected to grow at the highest CAGR of 18.1% from 2017 to 2023. The commercial segment is expected to dominate the market, owing to rise in penetration in hospitality industry, government offices, and office buildings.

7. GEOGRAPHICAL OVERVIEW • Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. • Rise in construction activities in Asia-Pacific are expected to fuel the demand for smart locks in the market. • U.S. accounted for the highest customer base in the North American smart locks market in 2016, and is anticipated to dominate the market throughout the forecast period.

8. DOMINATING MARKET PLAYERS • Schlage • Honeywell International Inc. • Panasonic Corporation • Vivint, Inc. • ASSA ABLOY AB • UniKey Technologies Inc. • Haven Lock, Inc. • August Home • Spectrum Brands, Inc. • Samsung SDS Co. Ltd.

9. A Report Titled “Smart Locks Market- Opportunities And Forecasts, 2017– 2023” has been recently published by Allied Market Research. It makes an In-depth Analysis of current trends, drivers, and restraining factors that affect Financial Ratios relevant to the industry. Company profiles for key vendors in business builds a comprehensive picture of profitable opportunities from Stakeholder’s Perspective. To Know More About Smart Locks Market- Opportunities and Forecasts 2017-2023 https://www.alliedmarketresearch.com/smart-locks-market Get PDF Sample Copy https://www.alliedmarketresearch.com/request-sample/2261 Follow Allied Market Research

10. ABOUT ALLIED MARKET RESEARCH Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: ShriramDighe 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: +1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com