“Global Smart Door Lock Market
Analysis & Opportunity Outlook 2021”
The global smart door locks market
is segmented into biometrics such as face recognition, palm recognition keypad,
iris recognition, voice recognition finger print door recognition and
signature recognition. Among these
segments, finger print lock market is envisioned to grab the leading position
in the market. The demand of finger print lock door market is increasing on
account of its higher degree of the security due to complexity and ingenuity.
The global smart door lock market
is expected to register a CAGR of around 34% over the forecast period. Moreover,
the market of smart door locks is projected to expand at noteworthy revenue
over the forecast period i.e. 2015-2021. The market is expected to expand on
the back of the rising adoption of smart door locks in the residential sector.
The bluetooth segment by wireless
means is estimated to register a significant CAGR during the forecast period.
Moreover, with 60% share, the bluetooth segment is expected to account for the
largest share of revenue in the global smart door locks market. Moreover, growing
inclination of the consumers from mechanical doors to the digital locks and
increasing demand on the back of the development of smart home are some of the
major factors fostering the growth of smart door locks market.
Rapid Growth
in real estate sector
The real estate growth is
primarily driven by the growth in the hospitality industry and the intense
competition in order to provide better services to the customer which would
encourage the hotel room owners to adapt and to install smart door locks.
Moreover, the rising investment in the infrastructural facilities to increase
the safety of the residential premises would increase the demand for the smart
door locks market.
Technological
Innovation in Smart Door Locks
The technological innovation is
leading to the increased adoption of the smart door locks across the globe.
Moreover, the smart door locks can be operated via the digital technology with
easy user interface. Moreover, the availability of the technologically advanced
smart door locks is further propelling the demand for the growth of the market.
Likely, the introduction of the hybrid smart door locks with multiple unlock
mechanism is further driving the growth of the market. On the contrary, poor
quality of the smart door locks, rising hacking incidents and less trust on
application based smart locks market population are some of the factors that
are likely to inhibit the growth of the Smart
Door Locks Market in the near future.
The
report titled “Global Smart Door Lock Market
Analysis & Opportunity Outlook 2021”
delivers
detailed overview of the global smart door locks market in terms of market
segmentation by wireless means, by biometric, by unlock mechanism and end user.
Further, for the in-depth analysis, the report encompasses the industry growth
drivers, restraints, supply and demand risk, market attractiveness, BPS
analysis and Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global smart
door locks market which includes company profiling of Schlage (a brand of allegion group), August, Yale(ASSA ABLOY Group),
Sentrilock, Dssmann, Kwikset, Lockitron, Samsung smart door and homes, Haven
and Unikey technologies Inc. The profiling enfolds key information of
the companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global smart door locks Market that will help industry
consultants, equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected
trends in the future.
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strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
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