The Asia-Pacific Smart Lock is anticipated to grow at a CAGR 10.6% during the forecast period. The Asia-pacific smart lock market is propelling at a significant rate across the globe. The large smartphones consumer base along with the wide availability of internet in the emerging economies of the region, particularly in India, China, and Japan, is majorly propelling the adoption of Asia Pacific smart lock. The Internet of Things (IoT) is the connection of devices for establishing a connection between the objects. The rapid penetration of smartphones has further augmented the connectivity of objects, which majorly includes internet connection of home objects such as door locks, fan, and lights, among others.
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According to a white paper published by United Parcel Service (UPS) and the United States’ Consumer Technology Association, in March 2018, the smart cities possess the potential to become a major global development sector in Asia Pacific. The region is equipped with the advanced technologies, urban needs, and government support, which are essentially required in the rapid development of smart cities in the market. APAC smart lock market is segmented into India, China, Japan and RoAPAC. China holds the highest market share in the APAC smart lock market. India is expected to be the fastest growing region in APAC smart lock market.
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Furthermore, Asia-Pacific smart locks market consists of various players that are manufacturing and marketing various types of smart locks to cater to a wide range of customers from around the globe. The major key market players that are contributing in the growth of the this market include DAHUA TECHNOLOGY CO LTD., Dormakaba Holdings AG, Hangzhou Hikvision Digital Technology Co., Ltd., Be-Tech Asia LTD., Shenzhen Vians Electric Lock Co., Ltd., SAMSUNG ELECTRONICS CO.LTD, Assay Abloy AB, Schlage, Unikey Technologies Inc. and Panasonic Corp.
Market Segmentation
By Communication Protocol
- Bluetooth
- Wi-Fi
- Others
By Application
- Residential
- Government
- Commercial
By Type
- PadLocks
- Lever Handles
- Deadbolts
- Others
Regional Analysis
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
Company Profiles
- Assay Abloy AB
- Be-Tech Asia LTD.
- DAHUA TECHNOLOGY CO LTD.
- Dormakaba Holdings AG
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Panasonic Corp.
- SAMSUNG ELECTRONICS CO.LTD
- Schlage
- Shenzhen Vians Electric Lock Co., Ltd.
- Unikey Technologies Inc.
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