Global Smart Lock Market 2018-2022 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Aug 24, 2018--The global smart lock market is expected to post a CAGR of close to 15% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global smart lock market from 2018-2022. (Graphic: Business Wire)
The benefits of smart locks over traditional locks and digital locks will be key factors driving the growth of the market. Smart locks are connected to smartphones or smartwatches and the automatic locking and opening system can be activated through these mobile devices. This will eliminate the need to carry keys. Another major advantage of smart locks is the implementation of security standards.
This market research report on the provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the collaborations between smart lock manufacturers and delivery service companies as one of the key emerging trends in the global smart lock market:
Global smart lock market: Collaborations between smart lock manufacturers and delivery service companies
Retail firms are facing severe issues regarding the home delivery of products. Some of the common issues include missing deliveries, forged signatures, and items dropped off to the wrong property. As a result, retailers face a high number of compensation and replacement claims.
“Many retailers are concentrating on integrating last mile delivery with smart locks, wherein the delivery service personnel will be able to enter homes and deliver the package. This will reduce problems faced during the home delivery of products because the products are dropped off inside a person’s home,” says a senior analyst at Technavio for research on computing devices.
Global smart lock market: Segmentation analysis
This market research report segments the global smart lock market by end-user (residential and others) and geography (the Americas, APAC, and EMEA).
The residential segment held the largest market share in 2017, accounting for nearly 97% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 59% of the market share, followed by EMEA and APAC respectively. The APAC region will project the highest growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 08/24/2018 10:23 AM/DISC: 08/24/2018 10:23 AM