Smart Locks Market 2020 to Witness Robust Expansion By 2026 With Top Key Players | Yale, Schlage, Haven, Weiser Lock, SDS, Mul-T-Lock among others

A comprehensive research report Smart Locks Market created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Smart Locks Market [By Product Outlook (Lever Handle, Padlock, Deadbolt, Others); By End-Use Outlook (Home, Commercial, Hospitality, Government, Others), By Regions]: Market Size & Forecast, 2020 – 2026. The Smart Locks Market has been analyzed By Region (North America, Europe, Asia Pacific and Rest of the World) and By Country (U.S, Canada, United Kingdom, Germany, China and India) for the historical period of 2015-2018 and the forecast period of 2020 – 2026

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The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

well-known companies profiled in the report include
• Cansec System
• Haven
• Schlage
• Yale
• Weiser Lock
• SDS
• Mul-T-Lock
• Aventsecurity
• Kwikset
• Okidokeys

The smart lock market has been segmented by product type and by end-use.

Smart locks Market Size and Forecast by Product Outlook
• Lever Handle
• Padlock
• Deadlock
• Others

Smart locks Market Size and Forecast by End-use outlook
• Home
• Commercial
• Hospitality
• Government
• Others

Smart locks Market Size and Forecast by Regions
•North America (U.S., Canada)
• Europe (UK, Germany, France, Italy)
• Asia Pacific (China, India, Japan, Australia)
• Latin America (Brazil, Mexico)
• MEA (Saudi Arabia, South)

According to a new report published by Polaris Market Research the global smart locks market is anticipated to reach USD 6.1 billion by 2026. Increasing adoption of smart homes in both developed and developing economies and growing need for more secured locking mechanism, has pushed the market for smart locks. There has been a significant growth in the adoption of smartphones and other handheld devices which act as an interface to control these locks. Smart locks allow its users to connect through smart phones, with the help of advance connectivity technology such as Near Field Communication (NFC), Bluetooth, ZigBee/Z-Wave. There is also a considerable increase in the compact IoT gadgets or connected gadgets adoption. All these factors are foreseen to drive the market over the forecast period.

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The adoption of smart locks is largely seen in the home and residential segment due to growing smart homes across the globe. Increasing awareness about technology and increased spending capacity of the individuals are another factors which are driving the market growth in this segment. Adoption is also largely seen in the hospitality vertical. Hotels and resorts have multiple rooms which requires limited and restricted access to the authorized persons and guests. Smart locks can be configured according to these requirements, thus allowing secured stay for the hotel customers. The access can be controlled remotely by the hotel staff and the locks with password can be reconfigured every time for the new guest, thus increasing safety and security. Enterprises and government organizations on the other hand are expected to have large market share after home and hospitality segment.

Key Findings from the study suggest products accessible in the market are much competitive and manufacturers are progressively concentrating on advancements to pick up an aggressive edge. Companies are in a stage of development of new items in order to guarantee simple implementation and connection with the current mechanical door locks. The hospitality segment is anticipated to grow at a high growth rate over the forecast period with the expanding utilization of smart locks inferable from expanding security-related worries among clients amid their stay at the hotels. North America is presumed to dominate the global smart locks market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China

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