Market Overview

Global Smart Lock Market 2018-2022 - Key Vendors are Allegion, APX Group, ASSA ABLOY, SALTO Systems & Spectrum Brands

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Global Smart Lock Market 2018-2022 - Key Vendors are Allegion, APX Group, ASSA ABLOY, SALTO Systems & Spectrum Brands

PR Newswire

DUBLIN, Aug. 28, 2018 /PRNewswire/ --

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The "Global Smart Lock Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global smart lock market to grow at a CAGR of 14.87% during the period 2018-2022.

Global Smart Lock Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the use of smart lock by various end users including residential and others.

Smart lock is an electromechanical lock which can be controlled remotely by authorized electronic devices such as smartphones, wearables and tablets. The smart locks can be connected with a smartphone via Bluetooth, Wi-Fi and Zigbee networks. Smart locks can be integrated with new or existing traditional locks. The users can also receive alerts regarding actionable security risks or other key events.

According to the report, one of the major drivers for this market is the benefits of smart locks over traditional and digital locks. The dependency on keys is eliminated as the smart locks can be controlled remotely via authorized electronic devices such as smartphones, wearables and tablets. Another major advantage of smart locks is that the security standards can be customized to provide exclusive access to authorized people only. Smart locks are being increasingly adopted by hotels and universities as they provide greater security and flexibility than traditional and digital locks, which in turn is driving growth of the global smart lock market.

Several retailers such as Amazon.com, Walmart and August Homes are focusing on integrating last-mile delivery with smart locks to prevent issues like missing deliveries, forged signatures and items dropped off at wrong property. This technological integration will allow retailers to reduce the number of compensation and replacement claims by the customers, as the smart locks will allow delivery personnel to enter and deliver packages within their home. Thus, the increasing number of collaborations between smart lock and delivery service companies is identified as a major smart lock market trend which will contribute to the revenue generated during the forecast period.

Further, the report states that one of the major factors hindering the growth of this market is the growing privacy and security concerns related to smart locks. It has been found that Bluetooth enabled smart lock models don't have any encryption and decryption techniques which allow hackers to hack the encrypted password with patented cryptographic solutions. Hackers can also hack smart locks connected to the internet by penetrating the portal through cross-site scripting and code injection. Thus, the security issues related to smart locks is posing as a major challenge to the growth of the global smart lock market.

Key vendors

  • Allegion
  • APX Group
  • ASSA ABLOY
  • SALTO Systems
  • Spectrum Brands

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 05: MARKET SIZING

  • Market definition
  • Market sizing 2017
  • Market size and forecast 2017-2022

PART 06: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY END-USER

  • Segmentation by end-user
  • Comparison by end-user
  • Residential - Market size and forecast 2017-2022
  • Others - Market size and forecast 2017-2022
  • Market opportunity by end-user

PART 09: REGIONAL LANDSCAPE

  • Geographical segmentation
  • Regional comparison
  • Americas - Market size and forecast 2017-2022
  • EMEA - Market size and forecast 2017-2022
  • APAC - Market size and forecast 2017-2022
  • Key leading countries
  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 12: MARKET TRENDS

  • Collaborations between smart lock manufacturers and delivery service companies
  • Growing demand for smart doorbells integrated with smart locks
  • All-in-one smart locks
  • Increase in M&A

PART 13: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Allegion
  • APX Group
  • ASSA ABLOY
  • SALTO Systems
  • Spectrum Brands

PART 15: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/rrbcwh/global_smart_lock?w=5

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