Asia-Pacific Smart Locks Market Share and Forecast by 2027

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

Asia-Pacific Smart Locks Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Padlocks, Deadbolt, Lever Handle, and Others), Communication Technology (Wi-Fi, Bluetooth, NFC, and Others), Application (Residential, Commercial, and Industrial), and Country

Report Date : Aug 2020
Report Code : TIPRE00012960

Category : Electronics and Semiconductor
Status : Published

Available Report Formats :
No. of Pages : 81

Page Updated: Oct 2020

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Asia-Pacific Smart Locks market was valued at US$ 360.4 million in 2019 and is projected to reach US$ 1,188.2 million by 2027; it is expected to grow at a CAGR of 16.4% from 2020 to 2027

Smart locks provide wireless connectivity, which can send security alerts to the user on smartphones, allowing them to monitor the systems remotely. Smart locks integrated with IoT sensors help to collect valuable information into smartphones; the data collected helps to reduce risks and possibilities of any burglary or theft. Hence, huge adoption of smartphone across all the regions are fueling the growth of the Asia-Pacific smart locks market.

Companies in the market are introducing advanced smart locks, which can be accessed via user’s smartphone at anytime, anywhere. The growing smartphone penetration across the world is empowering smart locks manufacturers to offer wireless connected solutions to their customers and is likely to drive the Asia Pacific smart locks market. Asia Pacific is a crucial region in terms of manufacturing and industrial growth and any disruptions may negatively impact the growth of various industries dependent on the region for business growth revenues. The governments of various countries of this region are taking drastic measures to reduce the effects coronavirus outbreak by announcing lockdowns, travel and trade bans. All these measures are expected to have a negative impact on the adoption and growth of smart locks especially in construction sector in 2020 and 2021.

The detailed reports include inventory and volume analysis, top-selling items, revenue and profit margin optimization, and staffing needs. With these features and technologies, vendors can attract new customers and expand their footprints in emerging markets. The Asia-Pacific Smart Locks market is expected to grow at a good CAGR during the forecast period from 2020 to 2027.

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Asia-Pacific Smart Locks Market–Segmentation

Asia-Pacific Smart Locks Market, by Type

Padlocks
Deadbolt
Lever Handle
Others

Asia-Pacific Smart Locks Market, by Communication Technology

Wi-Fi
Bluetooth
NFC
Others

Asia-Pacific Smart Locks Market, by Application

Residential
Commercial
Industrial

Asia-Pacific Smart Locks Market, by Country

Australia
China
India
Japan
South Korea
Rest of APAC

Asia-Pacific Smart Locks Market-Companies Mentioned

GANTNER Electronic GmbH
Schlage
Wyze Labs, Inc.
Samsung
Honeywell International Inc.
AMADAS Inc.

Asia-Pacific Smart Locks Report Scope

Report Attribute	Details
Market size in 2019	US$ 360.4 Million
Market Size by 2027	US$ 1,188.2 Million
Global CAGR (2020 - 2027)	16.4%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Type Padlocks Deadbolt Lever Handle By Communication Technology Wi-Fi Bluetooth NFC By Application Residential Commercial Industrial
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	GANTNER Electronic GmbH Schlage Wyze Labs, Inc. Samsung Honeywell International Inc. AMADAS Inc

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Asia-Pacific Smart Locks Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

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