Market Overview:
Smart locks are Wi-Fi or Bluetooth-enabled devices that allow users to lock and unlock doors using a mobile app. They offer enhanced security and convenience and have gained popularity due to increased use of smartphones, security concerns, and features that surpass traditional lock systems.
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Market Size and Growth:
The global Smart Lock market was valued at $2.11 billion in 2022, and it is expected to grow at a CAGR of about 12.6% through 2022 to 2029, reaching nearly $4.83 billion.
Key Drivers:
- Internet Infrastructure: Constant development of internet infrastructure and mobile device penetration contribute to market growth.
- Rising Urbanization: The growth of urban areas and increasing disposable incomes are driving the demand for online gambling and betting.
- Mobile Gaming: The use of smartphones and mobile gaming is a significant contributor to market expansion.
- Ease of Access: The convenience of playing online and the appeal of easy money have led to market growth.
Methanol Market Segmentation:
by Lock Type
Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others
by Communication
Protocol Bluetooth
WiFi
Z-Wave
Others
by Unlocking
Mechanism Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based
by Vertical
Commercial
Residential
Institutional & Government
Industrial
Transportation & Logistic
Market Dynamics:
- COVID-19 Impact: The pandemic has accelerated the adoption of smart locks due to the need for contactless solutions.
- Smart Locks in Hotels: Smart locks have become a trend in the hospitality sector, offering digital check-in and convenience.
- Use in Apartments: Smart locks are increasingly popular in multifamily properties due to their convenience for property managers and tenants.
- Security Concerns: Rising security concerns, increasing urbanization, and demand for high-tech solutions drive the market
Methanol Market Key Players
1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)
Market Segmentation:
Lock Types: Includes deadbolt locks, lever handles, server locks & latches, knob locks, and others. Deadbolt locks are the most prominent segment.
Communication Protocol: Covers Bluetooth, WiFi, Z-Wave, and others. Bluetooth leads this segment.
Unlocking Mechanism: Encompasses keypad, card key, touch-based, key fob, and smartphone-based. Touch-based unlocking mechanisms are gaining traction.
Verticals: Includes commercial, residential, institutional & government, industrial, and transportation & logistics. Residential is the leading vertical.
Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/6838
Market Dynamics:
- COVID-19 Impact: The pandemic has accelerated the adoption of smart locks due to the need for contactless solutions.
- Smart Locks in Hotels: Smart locks have become a trend in the hospitality sector, offering digital check-in and convenience.
- Use in Apartments: Smart locks are increasingly popular in multifamily properties due to their convenience for property managers and tenants.
- Security Concerns: Rising security concerns, increasing urbanization, and demand for high-tech solutions drive the market.
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