DUBLIN--(BUSINESS WIRE)--The "Smart Door Locks Market (Updated)" report has been added to ResearchAndMarkets.com's offering.
Elevation in the prevalence of IoT in India combined with the increasing number of smart homes purvey the growth in smart door lock market in India. Burgeoning penetration of Internet connectivity, wireless and wired, are expanding the demand of smart door locks in residential and corporate sector at CAGR of 35.6% during 2019-2025.
In addition, exponential swell from private realtors and housing companies in metro adjacent cities such as Noida, Bengaluru, Nagpur and Gurugram as well as other major cities such as Lucknow, Pune, Indore, Ranchi and Dehradun is expected to promote the higher demand from residential sector. The adoption of smart security systems and rising demand for home automation systems for better security in houses are expected to accelerate the demand for smart door locks in India during the forecast period i.e. 2019-2025.
At present a small section of the Indian population is using smart door locks on the account the higher cost associated when compared to conventional. However, rising personal disposable income, surging crime rates, expansion in tech savvy people would allow the smart door lock demand to go high in near future. The percentage share of people who would use the smart door lock is expected to increase for next 10 years and would pave the business opportunities for existing and new entrants in the market.
In 2017, non mobile app based smart door lock dominated the market; mobile app based smart lock accounted for only 14.85% of the total smart door lock market and remaining 85.15% went for non mobile app based (keypad based) smart door locks. Increased in the number of commercial building in the country contributes to the increase in non mobile app based smart door lock growth.
However, as the tech savvy population is on rise (especially in metro cities), the mobile app based smart door lock market is projected to reach USD 216.61 million in 2025 from USD 15.44 million in 2017, registering a growth rate of 39.79%. In addition to that, non mobile app (keypad based) smart door locks market touched USD 88.52 million in 2017 and projected to maintain its dominance in near future in India sub-continent by reaching USD 917.49 million in 2025.
If seen from the market point of view, non mobile app based smart door lock market is projected to be a larger market but with 34.73% compound annual growth rate (CAGR) during 2019-2025. On the other hand, mobile app based is estimated to be a smaller market but the growth (CAGR) is expected to be high at 34.73% during 2019-2025.
With USD 34.09 million in 2017, fingerprint based smart door lock had the highest demand followed by palm recognition smart door locks. Further, at present iris based smart lock is available in Indian market but it is anticipated to showcase a bleak demand but is emanating the burgeoning growth and might become successful in metro cities and areas that require heavily guarded security services.
Technology using RFID to unlock the door (37.64% share) is still the most popular and would remain up-ticked with 33.91% share in the total market in 2025.
Commercial market demand for smart locks grabbed 61.32% share in 2017 and by 2025 this demand from commercial sector is estimated to beg for 58.95% share in the total smart door lock market. After commercial sector residential sector to poise the second highest share of 41.05% in 2025 from 38.68% in 2017.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Distributors and Installers in India
4. Distribution Channel Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
4.1. Offline Channel Distribution Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
4.2. Online Channel Distribution Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
4.3. Market Attractiveness By Distribution Channel
4.4. BPS Analysis By Distribution Channel
5. Risk Analysis
5.1. Demand Risk
5.2. Supply Risk
6. India Smart Door Locks Market Size($ Million) and Forecast, 2017-2025
7. Market Dynamics & Its Impact Analysis
7.1. Growth Drivers
7.2. Challenges
7.3. Opportunities
7.4. Trends
8. India Smart Door Locks Market Segmentation Analysis, By Authentication
8.1. India Keypad Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.2. India RFID Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3. India Biometric Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3.1. India Face Recognition Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3.2. India Palm Recognition Keypad Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3.3. India Iris Recognition Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3.4. India Voice Recognition Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.3.5. India Fingerprint Recognition Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.4. India Hybrid/integrated Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
8.5. Market Attractiveness By Authentication
8.6. BPS Analysis By Authentication
9 India Smart Door Locks Market Segmentation Analysis, By Mobile Application
9.1. India Mobile App Based Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
9.2. India Non-Mobile App Based Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
9.3. Market Attractiveness By Mobile Application
9.4. BPS Analysis By Mobile Application
10. India Smart Door Locks Market Segmentation Analysis, By Product type
10.1. India Magnetic Strip Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
10.2. India Electro Mechanical Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
10.3. India Electric Strike Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
10.4. Market Attractiveness By Product Type
10.5. BPS Analysis By Product Type
11. India Smart Door Locks Market Segmentation Analysis, By End User
11.1. India Residential Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
11.2. India Commercial Smart Door Locks Market Size ($ Million) & Y-O-Y Growth Analysis (%), 2017-2025
11.3. Market Attractiveness By End User
11.4. BPS Analysis By End User
12. Porter's Five Force Model Analysis
13. Competitive Landscape
13.1. Company Profiles
13.1.1. Samsung
13.1.2. Yale
13.1.3. Godrej
13.1.4. Haven
13.1.5. Kwikset
13.1.6. Lockitron
13.1.7. August
13.1.8. Schlage
13.1.9. Sentrilock
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