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Global Smart Door Locks Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2016-2024

Published on: Sep 2017 | From USD $3750 | Published By: GOLDSTEIN RESEARCH | Number Of Pages: 240

Global Smart Door Locks Market Outlook
Market Overview
In the era of digitalization not only the phones and electronic equipments are getting smarter, but also our homes and offices becoming smart by the introduction of new technology and innovations. One of them is smart door lock mechanism or virtual keys which can be operated through your mobile phones, fingers, eyes and by the key codes set according to one's preference. Smart locks can provide real time information about the individual's access through doors and trespassers. The smart locks can be operated by mobiles through Wi-Fi or Bluetooth and by the installed mechanisms in doors like biometric sensors, keypad locks and electromagnetic sensors. The latest advancement in door locks makes you enable track, observe and restrict particular entries in your office or houses. Introduction of innovative lock systems also driving the growth of smart door locks market. For instance, ASSA ABLOY, a global leader door opening solutions has been successfully increased its R&D investment by 200% since 2006, reaching USD 280 million in 2016. ASSA ABLOY also has been ranked on Forbes list of world's 100 most innovative companies in 2016. Huge R&D investments by big market players are likely to encounter the progress of the market. In Turkey, more than 1,700 smart door locks are being installed at Future Park, a new Istanbul development with apartments build on the concept of home automation.
Market Segmentation
• By Products
o Wireless and remote access
o Stand-Alone Locks (Key Pads and Electromagnetic Cards)
o Biometric locks
• By End Users
o Commercial sectors
o Residential Sector
• By Geography
o North America (US, Canada) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
Market Growth Drivers and Challenges
As the commercial industry plays a key role in the market of the smart doors lock, the increasing numbers of the IT companies and hotels show the potential of this market. Growing hospitality industry in developing countries shows the utmost opportunities in smart door locks market. The growth of digitalization and rising penetration of smart phones are tending the new generations towards the new technologies and smart devices, which is the one of the major reason attracting the users to adopt smart door locks as smart phones play important role and becomes the virtual key. Additionally, allowing the user to track activity every time door is opening or getting alert in case of theft and tempering of the locks. Advance features of smart door locks expected to drive the growth of global smart door locks market.
The global smart lock market is highly fragmented among the small and large suppliers. Since the big market players are expanding their business in developing countries, small market players are finding it difficult to compete with them in terms of product features at low prices. However, these systems are more vulnerable to hacking threats as many of these devices work over internet and contain electric circuitry. Moreover, continuous electric supply needed for the functioning, which can lead to failure of these locks in case of electricity failure. Reliability and high cost of these smart locks anticipated to hinder the growth of global smart door locks market.
Market Size and Forecast
Global smart door locks market accounted for USD 0.8 billion and the market is expected to surpass USD 3.4 billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 19.8% over the forecast period i.e. 2016-2024.
Geographically, developed regions are showing more attention towards smart door locks market. North America accounted for the largest market for smart door locks. In North America more than 1.5 million homes are using some type of smart door locks. North and South America together are expected to grab more than 50% of global smart door locks market during the forecast period. North America is closely followed by the Europe owing to growing hospitality sector and new hotel construction in the region. Asia-Pacific region is expected to be the fastest growing market for smart door locks owing to rapid urbanization and rising personal disposable income population especially in China, India and Indonesia.
Key Market Players
• ASSA ABLOY
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
• Samsung
• Panasonic
• Guangdong Be-Tech Security Systems
• DESSMANN
• Lockitron
• Kaadas
• Masterlock
• Zhongshan Yinghua Lock Industry
• August
• Kwikset
• Techlicious
• Adel

Scope Background
Market Synopsis
Market Segmentation
Global smart door locks market is segmented as follows:
• By Product Type (Market Size, Demand Analysis and Growth Analysis)
• By End Users Type (Market Size, Demand Analysis and Growth Analysis)
Global Smart Door Locks Market Report covered insights of below mentioned regions:
• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments
Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks









Table of Contents
1. Executive Summary
2. Research Methodology
3. Regional Opportunity Analysis on the basis of Competitors
4. Global Smart Door Locks Market Size (USD Billion) and Forecast Analysis, 2016-2024
5. Market Dynamics: Growth Drivers, Restraints and Opportunities
5.1. Risk Factors
5.2. Regional Variations
5.3. Recent Trends and Developments
6. Global Smart Door Locks Market Segmentation
6.1. Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.1.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.1.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.1.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.1.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.1.5. Market Attractiveness Smart Door Locks Market by Product Type
6.1.6. BPS Analysis Smart Door Locks Market by Product Type
6.2. Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.2.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.2.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.2.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.2.4. Market Attractiveness of Smart Door Locks Market by End User
6.2.5. BPS Analysis of Smart Door Locks Market by End User
6.3. Smart Door Locks Market By Region (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.1. North America Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.1. North America Smart Door Locks Market By Country (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.1.1.1. U.S. Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.1.2. Canada Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.1.3. Market Attractiveness of Smart Door Locks Market by Country
6.3.1.1.4. BPS Analysis of Smart Door Locks Market by Country
6.3.1.2. North America Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.2.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.3.1.2.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.2.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.2.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.2.5. Market Attractiveness Smart Door Locks Market by Product Type
6.3.1.2.6. BPS Analysis Smart Door Locks Market by Product Type
6.3.1.3. North America Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.3.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.3.1.3.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.3.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.1.3.4. Market Attractiveness of Smart Door Locks Market by End User
6.3.1.3.5. BPS Analysis of Smart Door Locks Market by End User
6.3.2. Europe Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1. Europe Smart Door Locks Market By Country (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.2.1.1. UK Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.2. France Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.3. Italy Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.4. Germany Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.5. Spain Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.6. Hungary Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.7. Sweden Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.8. Russia Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.9. Poland Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.10. Rest of Europe Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.1.11. Market Attractiveness of Smart Door Locks Market by Country
6.3.2.1.12. BPS Analysis of Smart Door Locks Market by Country
6.3.2.2. Europe Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.2.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.3.2.2.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.2.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.2.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.2.5. Market Attractiveness Smart Door Locks Market by Product Type
6.3.2.2.6. BPS Analysis Smart Door Locks Market by Product Type
6.3.2.3. Europe Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.3.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.3.2.3.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.3.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.2.3.4. Market Attractiveness of Smart Door Locks Market by End User
6.3.2.3.5. BPS Analysis of Smart Door Locks Market by End User
6.3.3. Middle East & Africa Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.1. Middle East & Africa Smart Door Locks Market By Country (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.3.1.1. Gulf Cooperation Council Countries (GCC) Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.1.2. South Africa Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.1.3. North Africa Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.1.4. Rest of Middle East and Africa Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.1.5. Market Attractiveness of Smart Door Locks Market by Country
6.3.3.1.6. BPS Analysis of Smart Door Locks Market by Country
6.3.3.2. Middle East & Africa Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.2.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.3.3.2.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.2.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.2.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.2.5. Market Attractiveness Smart Door Locks Market by Product Type
6.3.3.2.6. BPS Analysis Smart Door Locks Market by Product Type
6.3.3.3. Middle East & Africa Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.3.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.3.3.3.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.3.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.3.3.4. Market Attractiveness of Smart Door Locks Market by End User
6.3.3.3.5. BPS Analysis of Smart Door Locks Market by End User
6.3.4. Latin America Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.1. Latin America Smart Door Locks By Country (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.4.1.1. Brazil Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.1.2. Mexico Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.1.3. Rest of Latin America Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.1.4. Market Attractiveness of Smart Door Locks Market by Country
6.3.4.1.5. BPS Analysis of Smart Door Locks Market by Country
6.3.4.2. Latin America Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.2.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.3.4.2.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.2.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.2.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.2.5. Market Attractiveness Smart Door Locks Market by Product Type
6.3.4.2.6. BPS Analysis Smart Door Locks Market by Product Type
6.3.4.3. Latin America Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.3.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.3.4.3.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.3.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.4.3.4. Market Attractiveness of Smart Door Locks Market by End User
6.3.4.3.5. BPS Analysis of Smart Door Locks Market by End User
6.3.5. Asia Pacific (APAC) Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1. Asia Pacific Smart Door Locks Market By Country (Market Share (%) & Y-o-Y Growth Comparison, 2016-2024)
6.3.5.1.1. China Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.2. Japan Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.3. India Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.4. Singapore Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.5. South Korea Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.6. Australia Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.7. New Zealand Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.8. Rest of APAC Smart Door Locks Market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.1.9. Market Attractiveness of Smart Door Locks Market by Country
6.3.5.1.10. BPS Analysis of Smart Door Locks Market by Country
6.3.5.2. Asia Pacific Smart Door Locks Market By Product Type(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.2.1. Adoption Rate (%) of Smart Door Locks Market by Product Type
6.3.5.2.2. Wireless and remote access (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.2.3. Stand-Alone Locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.2.4. Biometric locks (Key Pads and Electromagnetic Cards) (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.2.5. Market Attractiveness Smart Door Locks Market by Product Type
6.3.5.2.6. BPS Analysis Smart Door Locks Market by Product Type
6.3.5.3. Asia Pacific Smart Door Locks Market By End User (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.3.1. Adoption Rate (%) of Smart Door Locks Market by End User
6.3.5.3.2. Commercial Sector(Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.3.3. Residential Sector (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2016-2024)
6.3.5.3.4. Market Attractiveness of Smart Door Locks Market by End User
6.3.5.3.5. BPS Analysis of Smart Door Locks Market by End User
7. Competitive Outlook
7.1. Market Share of Major Players (2016)
7.2. Company Profiles
7.2.1. IBM Corp.
7.2.1.1. Company Synopsis
7.2.1.2. Business Strategy
7.2.1.3. Product Portfolio
7.2.1.4. SWOT Analysis
7.2.2. Amazon Web Services
7.2.3. Microsoft
7.2.4. Rackspace
7.2.5. VMware
7.2.6. Google
7.2.7. Akamai
7.2.8. Skytap
7.2.9. Azure
7.2.10. Accenture
7.2.11. Capgemini
7.2.12. Cisco
7.2.13. Fujitsu
7.2.14. HP
7.2.15. NTT Data Corporation
7.2.16. SAP
8. PorterΒ’s Five Force Model
9. Market Landscape: Competition and Beyond
10. Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
11. Expert Analysis
12. Concluding Remarks

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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