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$ 770.77 Million growth expected in Global Smart Lock Market during 2020-2024 | Technavio
NEW YORK, June 15, 2021 /PRNewswire/ - Technavio has been monitoring the smart lock market and it is poised to grow by USD 770.77 million during 2020-2024, progressing at a CAGR of almost 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
- Based on segmentation by end-user, which is the leading segment in the market?
Based on the end-user, the market saw maximum growth in the residential segment in 2019. - What are the major trends in the market?
The integration of advanced technologies in smart locks is the major trend in the market. - At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 9% during the forecast period. - Who are the top players in the market?
Allegion Plc, ASSA ABLOY AB, dormakaba Holding AG, Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., Spectrum Brands Holdings Inc., Vivint Inc., and Yunding Network Technology (Beijing) Co. Ltd. are the top players in the market. - What are the key market drivers and challenges?
The market is driven by developments in connectivity technologies. However, the high cost of smart locks might challenge growth. - How big is the APAC market?
APAC dominated the market with a 55% share in 2019.
Discover all the statistics and insights on smart lock sales and related segmentation and gain competitive intelligence and regional opportunities in store for vendors:
www.technavio.com/statistics/smart-lock-sales
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Allegion Plc, ASSA ABLOY AB, dormakaba Holding AG, Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., Spectrum Brands Holdings Inc., Vivint Inc., and Yunding Network Technology (Beijing) Co. Ltd. are some of the major market participants. Although the developments in connectivity technologies will offer immense growth opportunities, the high cost of smart locks is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this smart lock market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
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Smart Lock Market 2020-2024: Segmentation
Smart Lock Market is segmented as below:
- End-user
- Geography
- APAC
- North America
- Europe
- MEA
- South America
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Smart Lock Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart lock market report covers the following areas:
- Smart Lock Market Size
- Smart Lock Market Trends
- Smart Lock Market Industry Analysis
This study identifies the integration of advanced technologies in smart locks as one of the prime reasons driving the Smart Lock Market growth during the next few years.
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Smart Lock Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart lock market growth during the next five years
- Estimation of the smart lock market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart lock market across APAC, North America, Europe, MEA, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart lock market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by end-user
- Residential - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by end-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Allegion Plc
- ASSA ABLOY AB
- dormakaba Holding AG
- Honeywell International Inc.
- Napco Security Technologies Inc.
- Salto Systems SL
- Samsung Electronics Co. Ltd.
- Spectrum Brands Holdings Inc.
- Vivint Inc.
- Yunding Network Technology (Beijing) Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Email: [email protected]
Website: www.technavio.com/
Report: www.technavio.com/report/smart-lock-market-size-industry-analysis
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