North America Smart Locks Market to Grow at a CAGR of 11.9% to reach US$ 1282.5 Million from 2020 to 2027

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

Publication Month: Aug 2020 | Report Code: TIPRE00012978 | No. of Pages: 84 | Category: Electronics and Semiconductor | Status: Published

The North America Smart Locks market was valued at US$ 529.7 million in 2019 and is projected to reach US$ 1282.5 million by 2027; it is expected to grow at a CAGR of 11.9% from 2020 to 2027.

Smart locks offer wireless connectivity, which can send security alerts to the user on smartphones, allowing them to monitor the systems remotely. The smart locks offer comfort in their usage along with the integration of communication technology such as Bluetooth, Wi-Fi, and NFC. The usage of smartphones has become an integral part of today's routines across emerging economies, as large number of users are acquiring these smart devices to ease their daily routines, this factor is further contributing to the growth of the North America smart locks market at a significant pace. North America is one of the most important region for the adoption and growth of new technologies owing to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world’s worst affected country due to COVID-19 outbreak

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 smart locks market

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 Europe Smart Locks market is expected to grow at a good CAGR during the forecast period from 2020 to 2027.Europe Smart Locks Market

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Europe Smart Locks Market–Segmentation

Europe Smart Locks Market, by Type

  • Padlocks
  • Deadbolt
  • Lever Handle
  •  Others

Europe Smart Locks Market, by Communication Technology

  • Wi-Fi
  • Bluetooth
  •  NFC
  • Others

Europe Smart Locks Market, by Application

  • Residential
  • Commercial
  • Industrial

Europe Smart Locks Market, by Country

  • US
  • Canada
  • Mexico

Europe Smart Locks Market-Companies Mentioned

  • Havenlock Inc
  • Honeywell International Inc
  • August Home
  • Wyze Labs, Inc.
  • Samsung
  • Honeywell International Inc.
  • U-tech Group Inc
  • Schlage
  • Gantner Electronic GmbH
  1. Havenlock Inc
  2. Honeywell International Inc
  3. August Home
  4. Wyze Labs, Inc.
  5. Samsung
  6. Honeywell International Inc.
  7. U-tech Group Inc
  8. Schlage
  9. Gantner Electronic GmbH
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Smart Locks market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the North America Smart Locks market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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