North America Smart Locks Market Share and Forecast by 2027
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
- Status : Published
- Report Code : TIPRE00012978
- Category : Electronics and Semiconductor
- No. of Pages : 84
- Available Report Formats :
- Last update date : October 09, 2020
2019 Market Size
US$ 529.7 Mn
Base year value
2027 Forecast
US$ 1282.5 Mn
Projected by 2027
CAGR 2020-2027
11.9 %
Growth rate
Addressable Market
US$ 7,263.90 Mn
(2020-2027)
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.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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
North America Smart Locks Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 529.7 Million |
| Market Size by 2027 | US$ 1282.5 Million |
| CAGR (2020 - 2027) | 11.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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