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.

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. 

The smart homes are one of the major parts of smart cities. The smart home features smart living conditions of the people in the city. Furthermore, the awareness can be created in the minds of people by the building constructors, which in turn, boost the technology and in hand, the growth of the Indian smart lock market. 

Moreover, Indian 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 Assay Abloy AB, Be-Tech Asia LTD., Panasonic Corp., SAMSUNG ELECTRONICS CO.LTD, Schlage, Shenzhen Vians Electric Lock Co., Ltd., Godrej, Oakter, August Home and Kwikset. 

Research Methodology

The market study of the Indian Smart Locks market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the electronic and IT industry, ICT (Information and Communication Technology) and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. The Indian  Smart Locks Market Research and Analysis by Communication Protocol

2. The Indian  Smart Locks Market Research and Analysis by Application

3. The Indian  Smart Locks Market Research and Analysis by Type

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.