0
Allied Market Research
2023
Padlock Smart Lock Market

Padlock Smart Lock Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Report Code: A10422
Pages: NA
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

The global padlock smart lock market size is witnessing considerable growth and is expected to grow significantly in the next upcoming future. A padlock smart lock can be defined as a mechanical and an electrical locking device with the ability to open wirelessly with verification by authorized users. It enables homeowners to enter their home or provide others access without the requirement for a traditional key. Padlock smart lock allows user to use various other accessible objects such as a smartphone or a key fob to wirelessly verify and unlock the door. It can be said to be an extension of home security or home automation. As a result, it can also be considered as a part of the Internet of Things (IoT).

COVID-19 scenario analysis: 

  • To subdue the spread of COVID–19, respective governments have shutdown day-to-day business operations by implementing a full-scale lockdown. Labor shortages and delays in project completion are a few factors plaguing the global padlock smart lock market resulting in a decline in production.
  • The global padlock smart lock market has been significantly impacted by the outbreak. The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
  • This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The main factors, which drive the growth of global padlock smart locks market include increased popularity of smart home services and smartphone penetration, which is expected to reach saturation points in the next two to three years. In addition, decreasing costs of cloud infrastructure and ubiquitous mobile broadband also aided in allowing the users to effortlessly & remotely monitor and control any device, be it a smart thermostat or a padlock smart lock. Moreover, the factors driving the growth of the global padlock smart lock include various advantages such as convenience of being able to walk up to a door, allowing users to grant others access to their locks directly from their phones, and have it automatically unlocked with no need to reach for one’s keys. However, one of the major challenges for global padlock smart locks market is the issue of one’s phone potentially dying. In such a scenario, a physical key still works. 

Furthermore, back end clouds and phones can be hacked; hence, there remains a perceived and real security risk related to padlock smart locks. It is expected to be critical for startups to invest in security as negative publicity is a risk in the early market. The low power communication protocols, ubiquity of smartphones, and enhanced technologies related to geo-locating an individual created new opportunities to enhance user experience that can be further explored in the padlock smart lock industry.

Residential segment to drive the padlock smart lock market

The residential segment dominated the padlock smart lock market. Increasing number of smart homes across the globe has significantly contributed to the growth in revenue generation. Advanced security tools, including the remote door, window, locking, door opening sensors, and motion detectors are now affordable for homeowners. This is expected to drive the adoption of smart locks in residential applications. These locks are compatible with ZigBee, Z-Wave, and BLE technologies, and are developed explicitly for mass-market residential purposes, thereby attracting customers.

Hospitality is expected to hold significant growth in the padlock smart lock market

The hospitality industry represents huge adoption of padlock smart locks. Growth in in-room security measures in hotels is anticipated to bolster the adoption of padlock smart locks in the hospitality sector. Hotels across the globe are implementing wireless protocol-based advanced locks in their rooms to cater to the safety needs of international customers. The adoption of padlock smart locks also leads to surge in a hotel’s brand value. These factors are expected to fuel the padlock smart lock market growth in the hospitality sector. 

Key benefits of the report:

  • This study presents the analytical depiction of the global padlock smart lock industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global padlock smart lock market share.
  • The current market is quantitatively analyzed to highlight the global padlock smart lock market trends and growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed padlock smart lock market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the padlock smart lock market research report:

  • Which are the leading market players active in the padlock smart lock market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the padlock smart lock market forecast?
  • What are the projections for the future that would help in taking further strategic steps?

Padlock Smart Lock Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights

Aspects Details
By Technology
  • Bluetooth
  • Wi-Fi
  • Others
By End Use
  • Residential
  • Hospitality
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (UAE, Argentina, Rest of LAMEA)
Key Market Players Company10, Company6, Company8, Company1, Company3, Company2, Company9, Company5, Company4, Company7
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

Purchase Options

Call or Email Us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now

Purchase Full Report of
Padlock Smart Lock Market

Start reading.
This Report and over 71,223+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690  $3,321
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,840  $3,456
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820  $4,947
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540  $5,559
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870  $7,896
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

Related Reports
*Terms and Conditions Apply
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time for readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers