The China Smart Lock is anticipated to grow at a CAGR 10.8% during the forecast period. The factor such as increasing investment in security systems, increasing disposable income of the population, along with increasing awareness towards the security, are some of the major factors driving the growth of the china smart lock market. Moreover, the increasing infrastructure facilities in the country such as China is planning to construct 2000 airports by 2030, is majorly augmenting the adoption of smart home solutions in the country.
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The main factors for the increasing demand of Security Equipment’s in China are the growing economic conditions of the people along with massive construction projects. The sophisticated surveillance equipment which are mainly used for the monitoring and controlling purpose, in order to access security conditions that are widely used in high-end residential areas and commercial office buildings. Moreover, the production cost of security appliances in China is less as compared to any other developed economy such as the U.S., due to cheap labor available in China. The overall manufacturing cost of the surveillance system is less, due to which the other companies operating across the globe have to face competition with the local vendors in respect to price of perimeter security appliances. This, in turn, increases the China smart lock market in the near future.
China Smart Locks Market Segmentation
By Communication Protocol
- Bluetooth
- Wi-Fi
- Others
By Application
- Residential
- Government
- Commercial
By Type
- PadLocks
- Lever Handles
- Deadbolts
- Others
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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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