The smart lock market is expected to grow by USD 770.77 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the smart lock market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Smart Lock Market 2020-2024 (Graphic: Business Wire)
Enterprises will go through Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19
The smart lock market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Smart Lock Market Participants:
Allegion Plc operates its business through segments such as Americas, EMEIA, and Asia Pacific. The company offers a wide range of smart locks under product lines such as AD Series, NDE wireless locks, and LE wireless locks.
ASSA ABLOY AB
ASSA ABLOY AB operates its business through segments such as EMEA, Americas, Asia Pacific, and Entrance System. The company offers a wide range of smart locks including locks that open with a smartphone and smartwatch.
dormakaba Holding AG
dormakaba Holding AG operates its business through segments such as Access Solutions AMER, Access Solutions APAC, Access Solutions DACH, Access Solutions EMEA, and Key & Wall Solutions. The company offers various types of smart locks in several series from 1500 to 7900 series sold under E-Plex brands. These locks largely include electronic pin button locks, pin access, etc.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technvaio.com/report/smart-lock-market-size-industry-analysis
Smart Lock Market 2020-2024: Segmentation
Smart lock market is segmented as below:
- North America
- South America
The smart lock market is driven by developments in connectivity technologies. In addition, other factors such as the integration of advanced technologies in smart locks are expected to trigger the smart lock market toward witnessing a CAGR of over almost 9% during the forecast period.
Get more insights about the global trends impacting the future of the smart lock market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR44843
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.