Global Smart Lock Market was worth US$ 1.38 Bn. in 2020 and total revenue is expected to grow at a rate of 21.4 % CAGR from 2021 to 2027, reaching almost US$ 5.36 Bn. in 2027.
Global Smart Lock Market Overview
The Global Smart Lock Market Report 2020 to 2027 (Forecast Period) provides detailed analysis of market growth factors, future evaluation, country level analysis, Smart Lock market distribution, and competitive landscape analysis of major industry players. In the research report, every segment of the global Smart Lock market is thoroughly examined. Through leading segments, the segment analysis identifies critical opportunities in the global Smart Lock market. The regional study of the global Smart Lock market assists readers in gaining a comprehensive understanding of the developments of the different geographic markets in recent years and going forward. The report also includes a wide range overview of the key dynamics of the global Smart Lock market, such as market influence and market effect factors, drivers, threats, constraints, trends, and prospects. Other types of analysis, such as qualitative and quantitative, are also included in the research study.
Questions Answered in the Report
- What is the market potential for Smart Lock?
- Which region will emerge as a key player in the next years?
- Which category will see rapid growth?
- What chances for development exist in the Smart Lock sector in the upcoming years?
- What are the future obstacles that the Smart Lock market may face?
- Who are the key market leaders in the Smart Lock segment?
- What are the primary trends that are affecting market?
Competitive Share Analysis
Smart Lock The competitive environment of the market includes statistics and data on various competitors. This survey provides a detailed analysis of players from 2018 to 2021 and reliable revenue information. It also provides in-depth analysis based on accurate revenue information (global and regional) for the period 2018-2021. It provides company profile, key businesses, total sales and revenue, Smart Lock business revenue, Smart Lock market entry date, Smart Lock product launch, recent developments and other details.
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Segmentation:
Deadbolts, Lever Handles, Padlocks, and Other Locks are the sub-segments of the market. In 2020, the deadbolt segment had a revenue share of over 47%, and it is likely to continue to lead the industry during the forecast period. Its rising acceptance in the residential sector can be attributed to various features such as ease of use and a long-lasting locking mechanism, which have resulted in significant revenue generation. Kwikset, for example, is expanding its product line to include innovative deadbolts with built-in features like low battery warning, one-touch locking, and changeable user codes, resulting in a big user base.
Global Smart Lock Market Key Players:
• Spectrum Brands Holdings, Inc.
• Onity, Inc.
• Master Lock Company LLC
• August Home
• Schlage
• Honeywell International Inc.
• Panasonic Corporation
• Vivint, Inc.
• ASSA ABLOY AB
• UniKey Technologies Inc.
• Haven Lock, Inc.
• August Home
• Samsung SDS Co. Ltd.
• Allegion plc
• Salto Systems S.L.
• Cansec Systems Ltd.
• GANTNER Electronic GmbH
• MIWA Lock Co.
• SentriLock, LLC
• Avent Security
Impact of COVID-19 on the Market
COVID19 has three major impacts on the global economy. It has a direct impact on production and demand, supply chain and market turmoil, and economic impact on businesses and financial markets. Our analysts, who monitor the situation around the world, believe that after the difficulties of COVID19, the market offers producers a favourable opportunity. The purpose of the report is to provide a more detailed account of the current situation, the economic slowdown, and the impact of COVID 19 on the industry as a whole.
Smart Lock Market Regional Analysis
This section of the report examines the share and growth rate of each region, nation, and submarket region throughout the estimated period. The research also includes a comprehensive PEST analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Smart Lock market in these regions.
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