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Please breakdown the international market of "smart lock", "smart card reader" and digital key by B2B (enterprise) (i.e., the number of smart door lock selling, the number of users who use smart key, market growth, etc. as available). Looking for info for past year and forecast for this and next year.
Hello! Thanks for your question about the international market for smart security systems by B2B (enterprise) consumers. The sources I found most useful for answering your question are PR Newswire and Hotel News Resource. Unfortunately, after searching extensively through academic databases, corporate websites, industry reports, trusted media sites, user forums and review sites, it is clear that no freely available data exists that concentrates solely on the number of smart locks sold, the number of users using smart keys or a breakdown of enterprise/residential purchases. Nor is there enough information available to reliably triangulate an estimate.
However, I have been able to find a number of useful insights into this industry, focusing particularly on B2B/enterprise consumers. The short version of this information is that the growth in this sector is mostly attributable to demand from the B2B section, with growth in Asia Pacific attributed to the rising demand. Below you will find a deep dive of my findings.
GLOBAL SMART LOCK MARKET GROWTH
This market is still in its nascent stages, but is experiencing growth driven mainly by commercial/enterprise (B2B) demand. This driving force can be seen in the numbers. While the global CAGR for 2016 - 2020 is expected to be 75%, the anticipated growth for smart locks in the hospitality sector is over 80%. This increase in the commercial sector is "owing to increasing security-related concerns among customers during their stay at foreign locations".
An increasing global crime rate is cited as the reason for increasing demand in the enterprise segment, while "The demand across residential segment is considerably low and is limited to urban users requiring convenience and multiple user access."
"Asia Pacific is anticipated to witness substantial growth at an estimated CAGR of close to 70% from 2016 to 2024" while "North America is expected to emerge as a predominant region over the forecast period."
GLOBAL SMART CARD MARKET GROWTH
This market is also expecting to be driven strongly by growth in Asia Pacific, with "increased penetration of mobile phones in emerging economies" cited as a major driving force.
The global smart card market is growing at a CAGR of 8.4%, and is currently valued at $7.894 billion. At the anticipated growth rate, this will reach $15.05 billion by 2024.
Using this growth rate predictor, the value of the smart card market in 2017 is estimated to be $8.557 billion (7.894 x 1.084), $9.276 billion in 2018 (8.447 x 1.084) and $10.055 billion in 2019 (9.276 x 1.084).
Further evidence of this growth in the smart card market is provided by Eurosmart, which attributes the strong growth to "the adoption of contactless payment in an increasing number of regional markets."
EVIDENCE OF HOSPITALITY INDUSTRY UPTAKE
Hilton Hotels are using smart locks, paired with their "Digital Key" software to offer the ability to simplify their check in and stay at the hotels. Uptake has been strong, with Hilton planning continued global roll-out of the technology in 2017.
CONCLUSION
To wrap it up, although no information exists for the exact number of smart door locks sold, the number of users using smart keys or a breakdown of enterprise/residential purchases, the growth in this sector is mostly attributable to demand from the B2B section, with growth in Asia Pacific attributed to the rising demand.
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