Industry Background:
Intelligent locks are keyless door locks that let you unlock your door without having to use a physical key. A Smartphone app can be used to control them remotely. A smart lock links to your home's Wi-Fi network, allowing it to receive a code or a smartphone order to lock or open the door. Intelligent locks are a component of an intelligent home. The majority of intelligent locks are installed on mechanical locks and physically enhance the standard lock. Intelligent locking controllers have just become available on the market.This growth is primarily driven by Growing Smart Home Adoption around the World and The Rise in Companies Developing Innovative Home Automation Technology.
Globally, a noticeable market trend is evident Intelligent Lock involves Feature of offering Temporary access to Specific People
. Major Vendors, such as Assa Abloy Group (Sweden), Samsung (South Korea), Weiser (United States), Kwiset (United States), Allegion (Ireland), Schlage (United States), Yale (United States), Lockstate (United States) and Goji (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2021 Assa Abloy released a statement stating the acquisition of Sure-Loc. This Acquisition strengthens Assa Abloy position in developed areas by adding complementary products and solutions to their core business is being implemented with this acquisition. It also complements their mechanical hardware range, enabling them to expand their residential business in the United States.
In August 2021 Leviton and Schlage released a statement stating the integration of mart Lighting and Smart Door Locks. The ability to connect the Leviton Decora Smart Wi-Fi lighting control line's connected lighting features with the Schlage EncodeTM Smart Wi-Fi Deadbolt Customers may effortlessly trigger lighting activity related to lock activity using the My Leviton app for better home safety, security, and convenience.
Market Drivers
- Growing Smart Home Adoption around the World
- The Rise in Companies Developing Innovative Home Automation Technology
Market Trend
- Intelligent Lock involves Feature of offering Temporary access to Specific People
- Intelligent Locks use the Internet to Regulate who and when gets Access to User Home or Office
Restraints
- Due to Cybercrime Intelligent Locks can be Hacked Easily
- Intelligent Lock Model Operated by Smart Phones could create Problems such as Battery Failure
Opportunities
User can Enable Complete Monitoring and Reporting of Intelligent Locks due to Internet Technology and Increase in Households having Voice Assistance Like Alexa
Challenges
Malfunction in the Recognition Device or a Blackout of the Control Unit and Regular Updates are required for Intelligent Locks or it can be Exposed to Tampering
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Intelligent Electronic Lock Study Sheds Light on
The Intelligent Electronic Lock Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Intelligent Electronic Lock industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Intelligent Electronic Lock industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.