Global WiFi Smart Lock Market Insights, Forecast to 2025

Smart door locks are widely available, and allow users to open & close a door without keys

BANGALORE, KARNATAKA, INDIA, October 10, 2019 /EINPresswire.com/ -- The global WiFi Smart Lock market is valued at 540 million US$ in 2018 and will reach 2720 million US$ by the end of 2025, growing at a CAGR of 25.9% during 2019-2025.

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Smart door locks are widely available, and allow users to open & close a door without keys. Smart door locks can provide people with a high level of safety that is not provided by typical locks and alarms. Smart door locks offer sophisticated “access control” features to any home or business. Proximity sensors like Bluetooth and NFC can enable a door to unlock whenever an authorized user’s smartphone approaches. Users can also remotely lock and unlock the door, or share access with any number of others, using mobile apps. Physical keypads provide a backup with many locks, but are no longer the main way to let yourself in. ASSA ABLOY is a global leader. In 2018, the sale of ASSA ABLOY was 457.6 k units, and the company holds a sales share of 18.49%. With the completion of ASSA ABLOY's integration of the US market leader, ASSA ABLOY will reach a 29% market share in 2019, which is much higher than ASSA ABLOY's 10% market share in ordinary locks. Although several mergers and acquisitions have occurred in the past few years, the industry will not become more concentrated as more and more competitors join the industry. Global market is expected to witness significant growth on account of rising applications, so in the next few years, smart door locks production will show a trend of steady growth. In 2025 the sales volume of smart door locks is estimated to be 14341.3 K units, and the consumption increasing degree will be high. On product prices, the slow downtrend in recent years will maintain in the future. The objectives of this study are to define, segment, and project the size of the WiFi Smart Lock market based on company, product type, end user and key regions. This report studies the global market size of WiFi Smart Lock in key regions like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of WiFi Smart Lock in these regions. This research report categorizes the global WiFi Smart Lock market by top players/brands, region, type and end user. This report also studies the global WiFi Smart Lock market status², competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.

The following manufacturers are covered in this report, with sales, revenue, market share for each company:

• ASSA ABLOY
• Kwikset
• Allegion
• Dormakaba
• August
• SALTO
• nello
• Dessmann

WiFi Smart Lock market size³ by Product

• Door Levers Locks
• Deadbolts
• Padlocks

WiFi Smart Lock market size by End User

• Personal Residential
• Home Security System
• Institution & Government
• Commercial Applications
• Others

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WiFi Smart Lock market size by Region

North America
• United States
• Canada
• Mexico
Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Indonesia
• Singapore
• Malaysia
• Philippines
vThailand
• Vietnam
Europe
• Germany
• France
• UK
• Italy
• Spain
• Russia
Central & South America
• Brazil
• Rest of Central & South America
Middle East & Africa
• GCC Countries
• Turkey
• Egypt
• South Africa

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The study objectives of this report are:

vTo study and analyze the global WiFi Smart Lock market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.
• To understand the structure of WiFi Smart Lock market by identifying its various subsegments.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
• Focuses on the key global WiFi Smart Lock companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.
• To project the value and sales volume of WiFi Smart Lock submarkets, with respect to key regions.
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

In this study, the years considered to estimate the market size of WiFi Smart Lock are as follows:

• History Year: 2014-2018
• Base Year: 2018
• Estimated Year: 2019
• Forecast Year 2019 to 2025

This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of WiFi Smart Lock market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

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² https://reports.valuates.com/market-reports/QYRE-Auto-0153/global-wifi-smart-lock-market
³ https://reports.valuates.com/market-reports/QYRE-Auto-0153/global-wifi-smart-lock-market