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Smart Lock Market by Lock Type, Communication Protocol, Vertical and Geography - Global Forecast to 2023 - Research and MarketsThe "Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering. The smart lock market is expected to reach USD 2.67 billion by 2023 from USD 1.28 billion in 2017, at a CAGR of 13.11% between 2017 and 2023 The growing security and safety concerns is one of the major factors fueling the growth of this market. Moreover, the enhanced features compared with traditional lock systems and rising adoption of smartphones and other connected devices are expected to generate demand for these systems. The key restraining factors for the growth of this market are the high cost and perception of unreliability and lack of awareness among customers. The deadbolts segment is expected to hold the largest share of the smart lock market based on lock type during the forecast period. The benefits associated with deadbolts such as low installation cost, high durability, and high security from the intense intrusion or attack in he residential, commercial, and others applications contribute to high growth of the market for this segment. The market for the Wi-Fi communication protocol is expected to grow at the highest CAGR between 2017 and 2023. The connectivity benefits provided by Wi-Fi that make smart locks compatible with various connected devices, such as smartphones, personal computers, and tablets, contribute to the growth of the market for Wi-Fi. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview 6 Smart Lock Market Analysis, By Lock Type 7 Smart Lock Market, By Communication Protocol 8 Smart Lock Market, By Vertical 9 Geographic Analysis 10 Competitive Landscape 11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/trvzlk/smart_lock_market View source version on businesswire.com: http://www.businesswire.com/news/home/20171101006300/en/ |
