However, threat from phones as its assistance being hacked and issues associated with high R&D costs are creating hurdles in the market growth. Moreover, home access and cloud based lock management solutions are likely to present considerable growth opportunities in this market.

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By application, hospitality segment commanded the largest market share with a maximum growth rate in the market due to growing security related threats among consumers during their stay at foreign locations. Asia Pacific witnessed a substantial growth in the market attributed to rising commercial as well as residential infrastructure projects across countries such as China, India and Korea. North America is anticipated to emerge as a leading region during the forecast period.

Some of the key vendors in this market include Avent Security, Kwikset Company, Okidokeys, Sheorey Digital Systems Pvt. Ltd., Smart Locking Logic, Cansec System, Mul-T-Lock Company, Schlage, SentriLock, Weiser Lock, AT&T Intellectual Property, Lowe’s Companies, Inc., UniKey Technologies, Inc., Comcast Corp. and Yale Real Living.

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Scope of the Report:

Product Types Covered:
• Wi-Fi-Based Smart Lock
• Bluetooth-Based Smart Lock

Sub Markets Covered:
• Port Security
• Casino Management
• Data Center Security
• Physical Security
• Energy Security

Sub Products Covered:
• Keypads
• Motion Sensor
• Touch Screen

Lock Types Covered:
• Lever Handle
• Deadbolt
• Padlock
• Other Lock Types

Applications Covered:
• Enterprise
• Critical Infrastructure
• Residential
• Hospitality
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain 
o Rest of Europe     
• Asia Pacific
o Japan       
o China       
o India       
o Australia       
o New Zealand      
o Rest of Asia Pacific   
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt

What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments