Outdoor Safety Lock Market Size Analysis, Growth Opportunities, Growth Opportunities And Forecast To 2020-2027

Allied Market Research published a new report, titled, “Outdoor Safety Lock Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Outdoor safety lock has undergone huge technological changes in recent times. The launches of smart security systems have created a new alternative for the customers to ensure the safety and well being of their households as well as working places. As the incidents of theft, burglary, and attacks have risen, the demand for the new automated security systems has increased. The increasing concerns about the security system, increase in crime rate, investment in technology and automation, incorporation of new features in safety locks, the surge in the use of smart locks, additional safety features, voice recognition feature, smartphone operated locks, increase in urbanization, high disposable income, DIY security locks, outdoor key safe storage box, and incorporation of sensors and detectors in the devices are the key drivers that lead the growth of the global outdoor safety lock market.

However, increase in competition in the market, expensive and complex smart locks, less awareness about a new product launch, and the availability of substitute products hinder the market growth. Contrarily, investment in advanced product development, reduction in the use of a physical lock and key system present a new pathway to the outdoor safety lock market.

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In addition, the development of weatherproof and Bluetooth enabled outdoor key safe with advanced features has created a flexible operating system for the outdoor safety locks. The leading players are inclined towards providing advanced digital solutions with a simplified operating system and high-security alert. For instance, August Home has launched Wi-Fi smart lock, which can be operated from a far distance by smartphone and can be easily installed on the existing deadbolt.

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

COVID-19 Scenario Analysis:

• The COVID-19 pandemic has affected the revenue and sales of outdoor safety lock market as the distribution channels such as specialty stores have been shut down as per the government regulation to prevent mass gathering.
• The lockdown scenario caused a decline in the production of outdoor safety locks due to the shutdown of manufacturing units and shortage of manpower.
• The export and import restrictions have disrupted the global supply chain of outdoor safety locks.
• The post-COVID scenario is anticipated not to extremely affect the outdoor safety lock market as they are the essential requirement for maintaining residential security.

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Key Segments Covered:

Segments Sub-segments
Product Type
  • Key Locks
  • Card Locks
  • Fingerprint locks
  • Smart locks
  • Dial Combination Locks
  • Others
Technology
  • Manual Outdoor Safety Locks
  • Electronic Outdoor Safety Locks
Application
  • Residential
  • Commercial
Distribution Channel
  • Online
  • Offline Stores

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global outdoor safety lock industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global outdoor safety lock market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global outdoor safety lock market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides detailed global outdoor safety lock market analysis based on competitive intensity and how the competition will take shape in the coming years.

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