Wellness Tourism Market Statistics, Growth Prediction, Competitive Research And Outlook till 2026

August 25, 2021: The scope of the global Wellness Tourism Market was appreciated at US$ 683.3 billion in 2018 and is estimated to record a CAGR of 7.1% during the period of forecast. The scope of global wellness tourism industry is anticipated to touch US$ 1.2 trillion by 2026. Increasing number of travelers throughout the world has backed the demand for a number of wellness services. Furthermore, improved spending in the segment of tourism is likely to take an optimistic influence on wellness tourism.

The facility suppliers are concentrating on proposing spa treatments and additional wellness actions to confirm satisfaction of the customers. Medical tourism, wellness tourism does not emphasize on prevention of illnesses. It stresses on a fit way and enhanced quality of life. Then again, medical tourism consists of treating the previously identified illness. Wellness is measured to be a protective measure to improve fitness.

Frantic timetables of work and sedentary life together with the absence of physical actions have resulted in growing circumstances of numerous lifestyles associated illnesses, for example higher stages of cholesterol, diabetes, and fatness. Consistent with the information circulated by WHO, the global liability of illnesses will rise to 56% by 2030. So, increasing liability of such illnesses is estimated to outcome in a rising demand for fitness related travel.

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Growing stages of per head earnings, particularly in emerging states, have likewise contributed to the growing demand for such type of actions. The companies operating in the market for wellness tourism have accepted a number of policies, for example partnerships and M&A to enlarge geographic range. For example, Accor Hotels picked up Mantra Group, in May 2018, to grow its business, particularly in Asia Pacific. This facilitated to boost up Accor’s trademark collection and positioned Accor at an important position in the business of hospitality.

Classification:

The global wellness tourism market can be classified by Travel Category, Travel Purpose, Service Point of View, and Region. By Travel Category, it can be classified as International, Domestic. By Travel Purpose, it can be classified as Secondary, Primary, By Service Point of View, it can be classified as Shopping, Food & Beverage, In-country Transport, Wellness Activities, Lodging, and Others.

Regional Lookout:

By Region the global wellness tourism market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe ruled the global market by means of share of income in 2018. Europe is the widely held travel destination for ages. Increasing necessity for wellness services due to growing cases of stress associated fitness problems has enhanced the development of the market within the region.

Conversely, Asia Pacific is likely to be the speedily developing local market from 2019 to 2026. Technical progressions and increasing stages of per head earnings in developing nations, for example India and China are expected to pay out for the development of the market. The National Medical & Wellness Tourism Promotion board was announced to indorse tourism aiming for comfort, in 2016.

Aman Spa released a fresh complete wellness center - Amanpuri in Thailand in February 2019, proposing integrative medicinal facilities. It is the primary wellness center from Aman spas that proposes medicinal facilities. Similarly, the Malaysian company, Evolution Wellness Holdings, launched innovative combined wellness resort, Five Elements Pte. Ltd., in July 2018.

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The important market contestants have accepted policies, for example mergers & acquisitions, and partnerships to fortify their provincial existence. For example, Hyatt Hotels picked up Mira Val Group, during 2017. It was a chain of resorts and wellness spa & resorts.

The service suppliers of tourism are rebranding themselves to come across by way of the altering market requirements and the demands of the customer. Rosewood Hotels launched trademark Asaya, for their nutrition training, spa treatments and healing performs, in Rosewood Phuket, Thailand during the 2017. These companies indorse their assistances straight through websites, over travel portals of publicity establishments or third party.

Some of the important companies for wellness tourism market are Rosewood Hotels, Marriot International, Hyatt Hotels, Accor Hotels, Radisson Hospitality, InterContinental Group, and Hilton Worldwide.

Market Segment:

Wellness Tourism Service Outlook (Revenue, USD Billion, 2015 - 2026)

    • In-country Transport

    • Lodging

    • Food & Beverage

    • Wellness Activities

    • Shopping

    • Others

Wellness Tourism Travel Purpose Outlook (Revenue, USD Billion, 2015 - 2026)

    • Primary

    • Secondary

Wellness Tourism Travel Type Outlook (Revenue, USD Billion, 2015 - 2026)

    • Domestic

    • International

Wellness Tourism Regional Outlook (Revenue, USD Billion, 2015 - 2026)

    • North America

        • U.S.

        • Canada

    • Europe

        • U.K.

        • Germany

        • France

        • Italy

        • Spain

    • Asia Pacific

        • Japan

        • China

        • India

        • Australia

        • Thailand

        • Indonesia

    • Latin America

        • Brazil

        • Mexico

    • Middle East & Africa

        • South Africa

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Cold Plasma Market Segmentation, Statistical Forecast and Competitive Analysis Report till 2025

August 24, 2021: The global Cold Plasma Market was appreciated at US$ 55.84 million during 2017 and is expected to touch US$ 198.50 million by 2026. It is estimated to witness a CAGR of 15.2% during the period of forecast. This could be credited to application in packaging, electronics & electrical, medical, food, and textile industry. The factor catalyzing the market is the need to decontaminate several food products like meat, fruits, and vegetables. In other words, cold plasma has the ability of killing microorganisms; that too, without deterring food items’ physiochemical properties.

The other vertical driving the cold plasma market is “textile industry”. This product is used to remove surface hairiness, desize cotton fabrics, and provide resistance against shrinkage to woollen fabrics. The other advantage provided by cold plasma is that it uses less water; thereby cutting down on cost of water treatment. On the other hand, research is “ON” regarding its usage in treating bladder, breast, skin, and lung cancer. The anti-bacterial properties help in treating biological tissues and sterilizing biomedical surfaces.

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However, the cold plasma industry is likely to face restraint in the form of big capital. As such, small players need to think at least twice before going for cold plasma. On the whole, the market is segmented by regime, application, and geography. By regime, the market spans low pressure and atmospheric pressure. By application, the segmentation goes like surface treatment, wound healing, adhesion, cleaning & activation, coating, sterilization, and contamination.

By geography, the cold plasma market comprises North America, Europe, Asia Pacific, LATAM, and MEA. Europe holds the largest market share due to major regional and global biotechnology companies being present herein. Manufacturers are into expansion of their manufacturing capacities for catering to the requirements of several industries. North America comes second due to special heed being paid to healthcare. Asia Pacific is expected to grow at the quickest pace due to presence of major textile players. Besides, Japan and China are a hub of electrical and electronics industry. This factor also bolsters the market.

The players contributing to the cold plasma market include Europlasma, ADTEC Technology, Bovie Medical Corporation, Henniker Plasma, Tantec, Enercon Industries, Nordson Corporation, Plasmatreat, and Wacker Chemie. Organic growth is being emphasized on. For instance – 510K clearance has been acquired by Bovie Medical Corporation for J-Plasma flex hand piece to cater to surgery.

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Market Segment:

Cold Plasma Pressure Outlook (Revenue USD Million, 2014 - 2026)

    • Low-Pressure Cold Plasma

    • Atmospheric Pressure Cold Plasma

Cold Plasma Application Outlook (Revenue USD Million, 2014 - 2026)

    • Wound Healing

    • Blood Coagulation

    • Dentistry

    • Cancer Treatment

    • Other Medical Applications

Cold Plasma Regional Outlook (Revenue, USD Million, 2014 - 2026)

    • North America

        • U.S.

        • Canada

    • Europe

        • U.K.

        • Germany

    • Asia Pacific

        • Japan

        • China

    • Latin America

        • Brazil

        • Mexico

    • Middle East and Africa

        • South Africa

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Healthy Snacks Market Opportunities, Challenges, Strategies And Forecast Analysis Report till 2025

August 24, 2021: The scope of the global Healthy Snacks Market was appreciated at US$ 23.05 billion in 2018. The range is projected to touch US$ 32.88 billion by 2025, growing at a CAGR of 5.2% for the duration of the forecast.

Increasing emphasis of the end user on nutritious standards of the product for example low-slung calories and greater proteins & vitamins has functioned in support of the healthy snacks industry. Increasing necessity for on-the-go snack together with growing abilities for expenditure of the customers can strengthen the development. Furthermore, frantic routines of customers are estimated to push the healthy snacks industry during the approaching years.

Drivers and Restraints:

Healthy snacks are extensively being used up in developed nations. Growing admiration for meat snacks is furthermore inspiring the development of the healthy snacks market. Increasing stress by the customers on the excellence of the products in advanced nations for example North America and Europe due to the growing power of expenditure, of the customer, is poised to enlarge the market during the future years.

Increasing per head earnings of the customers owing to modernization and spreading base of employed people, is one of the most important stimulating substance for the development of the market. People in the age range of mid-thirties to mid-forties have recorded improved expenditure on healthy snacks. In contrast, instable prices of raw materials, owing to dependence on agrarian supplies and stringent guidelines placed by a number of controlling experts, are expected to hamper the development.

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However, increasing funds to develop inventive class offerings and the inventiveness started by the most important companies for the branding of the product are expected to deliver an up word push to the market. Awareness regarding fitness between the consumers due to alertness movements propelled by the companies, government, and non-government organizations are expected to inspire the demand for healthy snacks during the approaching years.

Classification:

The global healthy snacks market can be classified by Sales Network, Product, Packaging, Claim and Region. By Sales Network, it can be classified as: Non Store Based, Store Based. By Product it can be classified as: Trail Mix Snacks, Meat Snacks, Cereal & Granola Bars, Dried Fruit, Nuts & Seeds Snacks, Savory and Sweet. By Packaging it can be classified as: Cans, Boxes, Pouches, Jars and others. By Claim it can be classified as Sugar-free, Gluten-free, Low-fat, and others.

Regional Lookout:

By Region the global healthy snacks industry can be classified as North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. North America is expected to be one of the noticeable provincial markets for healthy snacks for the duration of the forecast. Altering habits of customers for example snacking between fixed mealtimes or snacking in place of meals together with an upsurge in inclination for healthy alternatives are expected to increase the demand for the product in the area.

There is heavy demand for cereal and granola bars in the region. It directs 35.0% share of the general income, within the province, during 2018. Cereal bars are extensively used up throughout North America owing to a number of tastes offered and discounts presented together with eye-catching wrapping utilized to invite & maintain new-fangled consumers.

Additionally, altering opinions of customers in the U.S.A. concerning arrangements of diet are important to upsurge in ingestion of healthy snacks. The standard of living of salaried people in the nation is expected to offshoot the development of the market during the approaching years. Handiness and easy to move options presented by healthy snacks are also endorsing the development of the market within the nation.

Asia Pacific is projected to be the maximum encouraging destination in the international arena for the duration of the forecast. Increasing demand for the product in the province can be credited to modernization and increasing necessity for snacking choices in developing nations similar to India and China. Altering standard of living of the customers in emerging nations, due to growth in per head earnings, are additionally estimated to have potential for the local market during the succeeding a small number of years.

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Companies:

Some of the important companies for healthy snacks market are Select Harvests, The Hain Celestial Group, Inc., Hormel Foods Corporation, The Kellogg Company, Nestlé S.A., Cal bee, Inc., B & G Foods, Inc., Mondelēz International, Tyson Foods, Inc., PepsiCo, Inc., and Kind LLC. Additional Notable companies are Danone, No Limit, LLC, Medifast, Inc., Sun-Maid, General Mills Inc., L T Foods, Mondelez International Inc., Bel Brands, and Dole Food Company Inc.

Market Segment:

Healthy Snacks Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Cereal & Granola Bars

    • Nuts & Seeds Snacks

    • Meat Snacks

    • Dried Fruit

    • Trail Mix Snacks

Healthy Snacks Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

        • U.K.

        • France

        • Spain

    • Asia Pacific

        • China

        • India

        • Japan

        • Australia

        • Indonesia

        • Thailand

        • Malaysia

        • Vietnam

        • Singapore

        • Philippines

        • Cambodia

        • Myanmar

        • Brunei

        • Laos

    • Central & South America

        • Brazil

    • Middle East & Africa

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Nutrigenomics Market Segmentation, Statistical Forecast and Competitive Analysis Report till 2025

August 24, 2021: The global Nutrigenomics Market scope was priced at US$ 252.20 million during 2017 and is estimated to witness a CAGR of 16.48% by the completion of prediction period. The global market scope of nutrigenomics is estimated to touch US$ 850.86 million by the completion of the year 2025. Nutrigenomics, also known as nutritional genomics, refers to a study that defines relationship between nutrition, human genome, and health. It explains how the different types of food effects human body biologically. In addition, the study is likely to impact well-defined segments of food chain including genetic alteration of animal feed and crops.

Rising cases of food allergies or intolerance among humans is expected to impel nutrigenomics industry growth. Such allergies can happen to anyone at any age against specific food products such as wheat, peanuts, eggs, soy, fish, and others. Nutrigenomics is able to identify food that suits individual’s molecular dietary signature. This factor is driving demand for the study among researchers and food manufacturers. Increasing focus of food manufacturers on customization of food products according to specific gene profile is anticipated to propel nutrigenomics market growth. Manufacturing companies are launching food products aimed to improve weak immune system among individuals. Moreover, supportive initiatives being taken by governments across various nations to promote nutritional genomics will drive the market over the forecast period.

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To cater to rising demand for customized diet, manufacturing companies or institutes are investing in R&D to expand application scope. For instance, February 2019, a team of researchers from King’s college of London found that blueberries can low blood pressure. According to their research study, eating 200 grams of blueberries for a month can improve blood vessel function and reduce systolic blood pressure. Researchers found that regular consumption of drinks based on blueberries are effective in reducing blood pressure by 5mmHg in a month.    

Product Insights:

On the basis of product, the nutrigenomics industry can be bifurcated into services, and reagents and kits. In 2018, reagents and kits segment accounted for largest market share owing to growing health awareness regarding chronic diseases. Increasing number of clinical laboratories is also expected to contribute well to segment’s growth. However, services segment is anticipated to exhibit highest CAGR over the forecast period attributed to growth of healthcare information technology (IT) services. Such services include telepathy, health records, and user-friendly healthcare applications for housebound patients.

Application Insights:

In terms of application, the nutrigenomics market can be classified into diabetes, obesity, anti-aging, and chronic diseases. Obesity segment is anticipated to hold largest market share over the forecast period. This is attributed to rising cases of obesity among young and adult population across the globe. Growing adoption of unhealthy lifestyle and increasing stress level among individuals is giving rise to obesity. Moreover, genetic factors are also responsible for body fat distribution and weight gain among individuals.

Technique Insights:

On the basis of techniques, the nutrigenomics industry can be categorized into blood, saliva, buccal swab, and others.

Regional Insights:

Regional segmentation includes Europe, North America, Asia Pacific, Central and South America, and Middle East and Africa. In 2017, North America accounted for largest revenue share. It is anticipated to dominate the market over the forecast period owing to rising consumption of specialized diet in the region. In addition, advent of direct to consumer nutrigenomics kits is expected to impel regional growth. Moreover, ongoing research and development regarding nutrigenomics will drive regional market growth in coming years.

Asia Pacific, on the other hand, is predicted to exhibit significant growth owing to rising demand for beverages and functional food in the region. This factor is promoting adoption of nutrigenomic techniques. Japan is expected to the largest consumer of functional food in the region, which will drive regional market in coming years.

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Some of the key players in the nutrigenomics market are Unilever; Danone; Genova Diagnostics; Inc.; Gene Smart; Metagenics, Inc.; and Cell Logic. Companies are adopting business strategies such as mergers and acquisitions to expand their product portfolio and gain competitive edge over others.

Market Segment:

Nutrigenomics Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Obesity

    • Cardiovascular Diseases

    • Cancer Research

Nutrigenomics Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

        • U.K.

    • Asia Pacific

        • China

        • Japan

        • Latin America

        • Brazil

    • Middle East & Africa

        • South Africa

Get in touch

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Flame Resistant Fabric Market Growth Factors, Strategies And Highlights of The Market till 2022

August 23, 2021: In accordance with the report published by the experts, it is estimated that the global Flame Resistant Fabric Market would develop at a substantial CAGR during the period of forecast. These are man-made fibers resulting from a mixture of cotton, chemical, and polyester. The global market for flame resistant fabric is determined to be eye-catching, because this market comprises numerous important manufacturing companies. The initiative taken by the government concerning the protection of labors forces and the safety at working place to decrease the hazard of accident will additionally increase the demand for the product and improve the application of manufactured goods in a number of end-user businesses.

Drivers & Restraints:

Increasing demand for flame resistant fabric is mainly owing to the strict rules for the industries which standardizes the norms for the safety of the workforces and preserves safety at workstation. It is motivating the general market of flame resistant fabric. Particularly, the increasing demand from construction industry, military and oil & gas in maximum of the emerging nation-states of Asia Pacific will increase development during the period of forecast.

However, greater price of manufacture and enormous investment in research is restraining the flame resistant fabrics industry. Application of new-fangled apparatus and machineries along with substantial price of maintenance is puzzling the shareholders and manufacturing companies of the flame resistant fabric. However, the greater price of R&D activity for evolving advanced skills will adversely affect the market, which will obstruct the development.

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Classification:

The global flame resistant fabrics market can be classified by Type, End User, and Region. By Type it can be classified as Non-Apparel, Apparel. The “apparel” segment will upsurge gradually owing to the growing demand for flame fighting in a number of manufacturing. In apparels fire-resistant fabrics are utilized to create protecting outfit that offers shield from arc fire, explosion, or else fire. Additionally, the growing demand in out-of-doors equipment, tents,place mats will motivate the development of this section in the flame resistant fabric industry.

By End User it can be classified asFirefighting Services, Transport, Defense, Mining Clothing, and Industrial Protective Clothing. The subdivision of Mining Clothing and Industrial Protective Clothing is the main end-user due to adherence to government regulations for the usage of fire-resistant clothing in diverse mines and industries. Owing to the growing demand from segments like chemicals, industrial manufacturing, construction, mining, oil & gas. Labor force of these segments is progressively demanding protection of sartorial to defend against dangerous temperature or straight

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Regional Lookout:

By Region it can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe and North America are projected to be provincial front-runners in the flame resistant fabric market during the period of forecast because of growing safety rules in these areas. Asia Pacific’s flame resistant fabrics industry is expected to observe considerable development due to growing demand from different end use businesses for example oil & gas and chemicals. Additionally, growing demand for flame resistant fabric in transportation business mainly in developing nations for example China and India is additionally expected to raise market of Asia Pacific during the period of forecast. Middle East & Africa are likely to develop by a speedy percentage due to growing consumption of flame resistant fabric in a number of segments. 

Companies:

The market for fire-resistant fabrics is split due to the existence of a number of local and global companies. This market comprises numerous outsized companies having solid terrestrial existence and varied amenities of manufacture. Yet, a number of local and small companies contest with these participants. The manufacturers of fire-resistant fabrics contest strongly on the basis of quality of the product, novelty, operating cost and price. To achieve a reasonable advantage, manufacturing companies are implementing new-fangled skills to upsurge their margins of profit.

Some of the important companies for Flame Resistant Fabric Market areTeijin Aramid,Milliken & Company,DuPont,Solvay SA,Huntsman International,Royal Tencate Corporate EMEA,Gun Ei Chemical Industry Co. Ltd, and PBI Performance Products. Additional notable companies are TOYOBO,Len zing AG,PBI Performance Products,W. L. Gore & Associates,Koninklijke Ten Cate, and Kaneka Corporation.

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Ambulatory Services Market Growth Drivers, Trends, Statistics and Forecast Report till 2026

August 23, 2021: The global Ambulatory Services Market is expected to grow at a CAGR of 6.1% in the upcoming period. This could be credited to an ever-increasing preference for OPD (out patient department). Moreover, outpatient care does prove to be cost-effective. On an additional note, governments across the globe have been taking initiatives to lend monetary support to ambulatory healthcare facilities.

The other factors driving the ambulatory services industry include increasing preference for minimally invasive surgeries along with technological advancements. For example – development of endoscopy and laparoscopy has lessened the requirement for prolonged hospital stays. The U.S. witnessed inauguration of CDI (Methodist Center for Diagnostic Imaging) in Dec 2016. It comes across as one of the outpatient-based imaging centers delivering pocket-friendly and high quality medical imaging to the patients.

On the similar grounds, NHS did introduce reforms in Feb 2016; which paved the way for providing extra funding to the general physicians so as to simplify the formalities related to emergency and casualty departments. This has bolstered prospects of PHP (Primary Healthcare Properties).

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The ambulatory services market is segmented by type and geography. By type, the segmentation goes like primary care offices, emergency departments, surgical specialty (ophthalmology, orthopedics, gastroenterology, pain managements/spinal injections, plastic surgery, and others), and medical specialty. By geography, the market spans North America (Canada, U.S.), Europe (Belgium, The Netherlands, Switzerland, Italy, Spain, France, Germany, and UK), Asia Pacific (South Korea, Thailand, Australia, India, China, and Japan), LATAM (Columbia, Mexico, and Brazil), and MEA (South Africa, Saudi Arabia, and UAE).

The business strategies adopted by players include new product launches, mergers and acquisitions, and geographic expansion. For instance – at the beginning of the year 2015, Indian government did announce its plan of increasing healthcare spending to 2.5% of GDP. “Aayushmaan” yojana is a part and parcel of this initiative.

North America rules the market due to excessive attention being paid to healthcare by the government of the U.S. Europe comes in second. This could be attributed to Denmark and Belgium being healthcare capitals. Asia Pacific is expected to grow at the fastest pace due to above-mentioned measures taken by Indian government.

The players contributing to the ambulatory services market include Medical Facilities Corporation; Aspen Healthcare; Terveystalo; and IntegraMed America, Inc. In Jan 2017, AmSurg Corp. and Envision Healthcare together acquired “Emergency Professional Services, PC”. This acquisition is inclusive of a neonatal group, a radiology group, an emergency medical group, and two anesthesia groups.

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Market Segment:

Ambulatory Services Type Outlook (Revenue, USD Million, 2015 - 2026)

    • Primary Care Offices

    • Emergency Departments

    • Surgical Specialty

         • Ophthalmology

         • Orthopedics

         • Gastroenterology

         • Pain Management/Spinal Injections

         • Plastic Surgery

         • Others

    • Medical Specialty

Ambulatory Services Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

         • U.S.

         • Canada

    • Europe

         • U.K.

         • Germany

         • France

         • Spain

         • Italy

         • Switzerland

         • Netherlands

         • Belgium

    • Asia Pacific

         • Japan

         • China

         • India

         • Australia

         • Thailand

         • South Korea

    • Latin America

         • Brazil

         • Mexico

         • Colombia

    • Middle East and Africa

         • South Africa

         • Saudi Arabia

         • United Arab Emirates

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At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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Smart Lock Market Growth Factors, Strategies And Highlights of The Market till 2024

August 23, 2021: The global Smart Lock Market is likely to reach USD 24.20 billion by 2024, with a CAGR of 60.1% by the completion of the prediction period. Over the past few years, smartphones have gained importance and have been designed as pocket-sized computers. Electronic access control has found a niche in commercial buildings, hotels, and apartment blocks. In addition to security, Smart Locks deliver convenient access control with voice commands and positive user experience.

The smart lock market is driven by the growing popularity of smart technology and surged use of smartphones. The key factors impeding smart lock adoption in the developing countries are its high purchasing costs and its high susceptibility to malware attacks.

Near Field Communication (NFC) and Power over Ethernet (PoE) are gaining immense focus and is now considered as a driving force in the next generation Internet. Today’s advanced technologies provide keyless control via a mobile app, biometric, pin code reader or remote control. Smart home is a major catalyst for the emergence of digital locks and associated products to seamlessly integrate convenient standalone access control. The marketers are striving to convince their customers that the power supply to their new digital device is dependable and convenient to replenish. Parks Associates in their recent survey stated that by the end of next year, one in four households in the U.S will purchase a smart lock. Moderate incomes and smaller houses are reaching a potential of adapting the cost sensitivity.

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Emerging entrants have already demonstrated a huge growth traction in terms of its investments and research activities. Latch is a startup founded in 2013 and it recently funded $70 million in their smart lock project that eases the locking mechanism with the help of a magnetic key code or smartphone. Similarly, French startup HAVR has launched Lifi locks, a revolutionary system that has the ability to open doors by phone’s flashlight. Improving user experience and integrating smart locks into residential sectors will drive growth for smart locks. Amazon and UPS entered into a partnership to develop the Key app, which allows a delivery person to enter buildings and condos using the smart door lock system.

Some of the major participants operating in the smart lock market consist of, Samsung SDS Co. Ltd., Onity, Salto Systems, Master Lock, Cansec Systems, UniKey Technologies, ASSA ABLOY AB, Allegion, Honeywell, Haven Lock, Yale, Spectrum Brands, and among others. Due to the rising demand for enhanced security systems, North America holds the largest revenue share and its strong IT infrastructure is providing lucrative opportunities for market expansion. Europe ranks second in terms of growing urbanization and high concentration of tech-savvy population.

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Market Segment:

Smart Lock Type Outlook (Revenue, USD Million, 2013 - 2024)

    • Deadbolt

    • Lever Handle

    • Padlock

    • Others

Smart Lock Application Outlook (Revenue, USD Million, 2013 - 2024)

    • Residential

    • Hospitality

    • Enterprise

    • Critical Infrastructure

    • Others

Smart Lock Regional Outlook (Revenue, USD Million, 2013 - 2024)

    • North America

        • U.S.

        • Canada

    • Europe

        • U.K.

        • Germany

    • Asia Pacific

        • China

        • India

        • Japan

        • Korea

    • Latin America

    • Middle East & Africa

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com