The Indian Smart Lock is anticipated to grow at a CAGR 11.1% during the forecast period. Technological and healthcare services are the major source of economic growth of the country due to the large English-speaking population, which in turn, becomes a chief exporter of IT services, outsourcing services, and software workers across the globe. India is regarded as one of the fastest growing economy across the globe; therefore, it contributes a large share in the Indian smart lock market.
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Furthermore, increasing internet penetration in India has been another major factor driving the growth of the market. According to the statistics provided by the Internet Society, in 2016, the total number of internet user was estimated to 451 million and is expected to reach 604 million by 2020. Increasing digitalization and government policies such as “Digital India” are significantly contributing in the internet penetration in the country. Digital India campaign is at full swing with several cities in India, such as Mumbai and Bangalore are significantly involved in the infrastructure development along with the augmentation of smart facilities in their homes.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Indian Smart Locks Market by Communication Protocol
- Bluetooth
- Wi-Fi
- Others
Indian Smart Locks Market by Application
- Residential
- Government
- Commercial
Indian Smart Locks Market by Type
- PadLocks
- Lever Handles
- Deadbolts
- Others
Company Profiles
- Assay Abloy AB
- August Home
- Be-Tech Asia LTD.
- Godrej
- Kwikset
- Oakter
- Panasonic Corp.
- SAMSUNG ELECTRONICS CO.LTD
- Schlage
- Shenzhen Vians Electric Lock Co., Ltd.
The Report Covers
- Comprehensive research methodology of the Indian Smart Locks market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Indian Smart Locks market.
- Insights about market determinants which are stimulating the Indian Smart Locks market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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