Asia-Pacific Smart Locks Market

Market Introduction

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 smart locks market at a significant pace.

Market Overview and Dynamics

The Asia-Pacific Smart Locks market is projected to reach US$ 1188.2 Mn by 2027 from US$ 360.40 Mn in 2019; it is expected to grow at a CAGR of 16.4% from 2020 to 2027. Upsurge in the number of smartphone users worldwide is further boosting the deployment of smart locks in the last few years owing to enhanced benefits such as easy user interface and convenience to the users. The ever-increasing awareness related to secure home solutions, the constant development of smart devices such as smartphones, rising disposable income of consumers, and booming internet services are some of the foremost factors driving the growth of the smart locks market.

Key Market Segments

In terms of type, the deadbolt segment accounted for a larger share of the Asia Pacific Smart Locks market in 2019. Bluetooth market segment held the largest share of the market, based on communication technology, in 2019.By application, residential accounted for a larger share of the Asia Pacific Smart Locks market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Smart Locks market in Asia-Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. A few of the major companies listed in the report are Gantner Electronic GmbH, Schlage, Wyze Labs, Inc, Samsung, Honeywell International Inc, Amadas Inc.

Reasons to buy report

• It provides understanding of the Asia-Pacific, Smart Locks market landscape and identifies market segments that are most likely to guarantee a strong return.
• It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia-Pacific Smart Locks market.
• It helps efficiently plan merger and acquisition, and partnership deals in the Smart Locks market by identifying market segments with the most promising probable sales
• It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the Asia-Pacific Smart Lock smarket.

• It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.

ASIA-PACIFIC SMART LOCKS MARKET SEGMENTATION

Asia-Pacific Smart Locks Market, by Type

• Padlocks
• Deadbolt
• Lever Handle
•  RFID

Asia-Pacific Smart Locks Market, by Communication Technology

• Wi-Fi
• Bluetooth
•  NFC
• Others

Asia-Pacific Smart Locks Market, by Application

• Residential
• Commercial
• Industrial

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Company Profiles

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

Asia-Pacific Smart Locks Market Strategic Insights

Asia-Pacific Smart Locks Market Segmentation Analysis

Asia-Pacific Smart Locks Market Report Highlights

Asia-Pacific Smart Locks Report Scope

Asia-Pacific Smart Locks Market Country and Regional Insights