Smart door lock market is estimated to grow at a CAGR of 19.8% over 2016-2024 from USD 0.8 billion in 2016, to reach a market size of USD 3.2 billion by 2024.
NEW YORK, NEW YORK, UNITED STATES, September 19, 2019 /EINPresswire.com/ — In its latest study titled "Global Smart Door Locks Market Outlook, 2024", Goldstein Research, a leading market intelligence & consulting firm, reveals that North and South America together are expected to grab more than 50% of global smart door lock market through 2024. Asia-Pacific region is expected to be the fastest growing market for smart door locks owing to rapid urbanization and rising personal disposable income population especially in China, India and Indonesia.
According to the study, North America is the dominating region for smart door locks market in 2015 and is expected to dominate at global level over 2016-2024.North America accounted for more than 30% share in global smart door locks market which is further expected to expand at a CAGR of 27% over the forecast period. United States is expected to dominate the smart door locks market followed by Canada as the North America is the world's most advanced smart home market with more than 21.8 million smart homes installed in 2016.”
Analysts at Goldstein Research also points that smart door locks market is in nascent stage but it is expected to grow significantly owing to its various security and convenience benefits. Rising urbanization and growing trend of smart technologies is increasing the consumer’s interest towards smart door locks. Smart Advanced IoT devices are equipped with sensors such as Near Field Communication (NFC), Zig Bee or lower power Bluetooth that allow the smart door locks to communicate with homeowner's smart phone or smart wearable.
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“Global Smart Door locks Market Outlook 2024” by Goldstein Research contains detailed overview of the global smart door locks market in terms of market segmentation by product type, connectivity technology, distribution channel and end user.
Key Highlights: Global Smart Door Locks Market Outlook, 2024
The report includes Smart Locks Manufacturers, Private Label Players, OEMs & Brands Outlook (Market Competition & Regional Presence), Business Strategy &Financial Analysis of Major Players. Further, the study also covers the Industry Insights (Future Trends & Forecast Data), Consumer Spending Analysis
• Market Size (USD Billion), Market Share (%), CAGR (%), Y-O-Y Growth Rate (%) of Global Smart Door Locks Market and further it bifurcated into geographic region.
• Sales Data of smart door locks : By Each Product Type, By End User, By Distribution Channels (offline & online), By Region (Volume & Value), 2016-2024
• Market Dynamics : Growth Drivers, Challenges, Trends, Opportunities (Current & Future Outlook), 2016-2024
• Supply & Demand Analysis, 2016-2024
• Trade Data Outlook : By Each Product Type (Export & Import), Value & Volume, 2016-2024
• Adoption Rate (%) Outlook : By Each Product Type, By End User, By Distribution Channels , By Region
• Smart Door Locks Market Outlook :By Each Product Type, By Pricing Model Type, By Distribution Models, By Connectivity Technology, By Countries (Volume & Value), 2017-2025
• Global Smart Door Locks Industry Analysis (Smart locks Manufacturers, Brands, New Products, Product Mapping, Appliances Industry Analysis, Pricing Pattern, Competitive Analysis & Consumer Analysis, etc.)
The study provides an in-depth analysis with current and future trends to elucidate the imminent investment pockets in the market.
Current and future trends are outlined to determine the overall attractiveness of the market and single out profitable trends to gain a stronger foothold in the market.
Quantitative analysis of the current market and forecast from 2016-2024 is provided to showcase the financial competency of the market.
Drivers and opportunities are evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the potential of the market.
Porter's Five Forces Model and SWOT analysis of the industry illustrate the potency of the buyers & suppliers participating in the market.
Competitive Outlook of major players of the global market as well as regional market to understand the current business scenario and to understand the complexity and investment related factors.
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About Goldstein Research
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our analysts working on Hardware and ICT industry market reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario.. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.
Source: EIN Presswire