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Smart Lock Market size is set to grow by USD 2.31 billion from 2024-2028, Growing number of smart cities worldwide to boost the market growth, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global smart lock market size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 13.47% during the forecast period. Growing number of smart cities worldwide is driving market growth, with a trend towards integration with voice assistants and smart home ecosystems. However, growing security and privacy threat in smart locks poses a challenge. Key market players include Allegion Public Ltd. Co., ASSA ABLOY AB, Be Tech Asia Ltd., Carrier Global Corp., Davcor Group Pty Ltd., Dormakaba Holding AG, Dorsetindia.com, Honeywell International Inc., I Leaf Buildpro Pvt. Ltd., iF International Forum Design GmbH, iLockey, Jainson Locks, Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., SOLITY Co Ltd., Spectrum Brands Holdings Inc., Tekno Electro Solutions Pvt. Ltd., Vivint Inc., and Yale India.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (WiFi, Bluetooth, Zigbee, and Z-wave), End-user (Commercial and Residential), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Allegion Public Ltd. Co., ASSA ABLOY AB, Be Tech Asia Ltd., Carrier Global Corp., Davcor Group Pty Ltd., Dormakaba Holding AG, Dorsetindia.com, Honeywell International Inc., I Leaf Buildpro Pvt. Ltd., iF International Forum Design GmbH, iLockey, Jainson Locks, Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., SOLITY Co Ltd., Spectrum Brands Holdings Inc., Tekno Electro Solutions Pvt. Ltd., Vivint Inc., and Yale India

Key Market Trends Fueling Growth

The integration of smart locks with voice assistants and smart home ecosystems is a significant trend in the global smart lock market. This feature allows users to control their locks using basic voice commands, enhancing accessibility and convenience. Additionally, automation and synchronization with other connected devices, such as lights, thermostats, and security systems, are made possible. This trend is expected to drive market growth by creating a seamless user experience within commercial and residential buildings. 

The Smart Lock market is experiencing significant growth with homes and businesses adopting this technology for enhanced security. Smart Homes are a trend, and smart locks are an essential component. Biometric authentication, such as fingerprint recognition, is becoming popular. Google and Apple are key players in this market. Smart locks can be controlled through apps, allowing remote access and convenience. Some smart locks use Bluetooth technology for connectivity. They can also be integrated with other home automation systems. Smart locks offer convenience, security, and compatibility with various devices. The future of smart locks lies in advanced features like voice recognition and facial recognition. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global smart lock market confronts security concerns as potential vulnerabilities in these devices may allow unauthorized access or data interception. Weak encryption techniques and outdated firmware pose significant risks. To mitigate these threats, manufacturers must prioritize robust security measures and regular firmware updates, collaborating with cybersecurity experts when necessary. These efforts are crucial to safeguard customer privacy and confidence, ensuring the market’s continued growth.The Smart Lock market is experiencing significant growth due to increasing adoption in both residential and commercial sectors. However, several challenges persist. Thingness and Machine Learning are key technologies driving the market, but security concerns remain a major challenge. The need for encryption and secure communication protocols is crucial to ensure data privacy and prevent unauthorized access. Additionally, cost and compatibility issues with existing door hardware are hindering widespread adoption. Smart Home and IoT platforms are also essential for seamless integration and interoperability. Regulations and standards, such as Zigbee and Z-Wave, are necessary to ensure consistency and reliability. Overall, addressing these challenges will be vital for the continued growth and success of the Smart Lock market.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This smart lock market report extensively covers market segmentation by

Technology 1.1 WiFi1.2 Bluetooth1.3 Zigbee1.4 Z-waveEnd-user 2.1 Commercial2.2 ResidentialGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 WiFi- The Smart Lock market is experiencing significant growth due to its convenience and security benefits. Businesses and consumers alike are adopting smart locks at an impressive rate. These locks offer keyless entry, remote access, and integration with other smart home systems. They provide enhanced security features such as automatic locking and unlocking, real-time alerts, and the ability to grant temporary access to guests. Smart locks are a cost-effective investment for businesses looking to improve security and convenience, and for individuals seeking peace of mind in their homes.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Smart Lock Market is experiencing significant growth due to the increasing adoption of home automation and smart homes. Biometric authentication and keyless entry systems are becoming increasingly popular, leveraging IoT technology and Wi-Fi communication protocols for seamless integration. Artificial Intelligence and Machine Learning are also being employed to enhance security features and improve user experience. The smart lock ecosystem includes various technologies such as RFID locks, IC cards, and Bluetooth. Big Data is being utilized to analyze usage patterns and provide valuable insights. Kaadas, Masterlock, Yale Home, August Home, Level, Schaub and Emtek, and Oberlo are some of the companies offering smart lock solutions. Safety concerns continue to be a priority, with 5G networks and advanced technologies like Google Assistant being integrated to address these issues.

Market Research Overview

The Smart Lock Market is a rapidly growing sector within the home automation industry. These advanced locks utilize technologies such as Bluetooth, Wi-Fi, and biometric authentication for enhanced security and convenience. Smart locks offer features like remote access, automatic locking, and integration with other home security systems. The market is driven by increasing consumer demand for smart home solutions and the ongoing digitization of home security systems. Additionally, governments and regulatory bodies are promoting the adoption of smart locks for enhanced security and energy efficiency. The market is segmented based on technology, application, and region. Smart locks are used in both residential and commercial applications, and their adoption is expected to increase significantly in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyWiFiBluetoothZigbeeZ-waveEnd-userCommercialResidentialGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Where’s the Best Deal on the Block? Realtor.com® Launches Dynamic Map Layers to Help Homebuyers Find It and So Much More

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Homebuyers can now visualize hyperlocal insights and broader neighborhood trends to find their perfect home

SANTA CLARA, Calif., Sept. 24, 2024 /PRNewswire/ — Today, Realtor.com® announced the launch of dynamic map layers, a set of new map-based search features that allow users to answer classic home-buying questions like “Is this house the best deal on the street?” and “Where can I find the newest homes in a neighborhood?” or “Where are houses selling for a lower price per sqft.?” Now, users can explore multiple ZIP codes and neighborhoods with one quick glance and use this information to find the home they want.

Dynamic map layers deliver a unique zoom and pan experience that shows real-time visualizations of property data and neighborhood insights all in one map. When applied, each layer illustrates search parameters through color shading that represents aggregated data including market trends for a specific area. The shading dynamically adjusts to the property level as the user zooms in, and gets broader as they zoom out, adapting to highlight different data at each zoom level. Users can apply different map layers and access unique Realtor.com® econometric data, like market hotness, to find the best home options based on what they’re looking for.

“Do you remember when you bought your first smartphone and how it completely changed how you use a phone? Dynamic map layers are going to change how people search for homes online,” said Mausam Bhatt, Chief Product and Technology Officer, Realtor.com®. “They are an entirely new pathway to home discovery that allows buyers to answer their most pressing questions with a look at a map. They present data in an interactive way that is easy to use, easy to understand, and easy to make the most informed decisions with – so users can confidently choose the place they call home.”

Seventy-one percent of real estate website/app users think that more visual or map-based features could help them learn more about properties and compare homes more easily, according to a recent survey conducted by Realtor.com®. Ninety percent stated they would value being able to search for “home size” and “home value” via a map on a real estate search sites.

Whether it’s someone with a limited budget searching for the best buy in a specific area; a buyer who wants to understand the market competition of a home in order to make the best offer; or, a buyer who is comparing multiple neighborhoods so they can decide where to invest, Realtor.com® users can dive deeper and explore homes with the following layer options:

Home Estimate – the home’s current estimated value, powered by RealEstimatesmEstimate/ sqft. – the home’s current estimate total value divided by its total square footage, powered by RealEstimatesmLot Size – the property’s parcel size as measured in acresLot Slope – the property parcel’s average lot slopeHome Size – the size of the home measured in sqft.Year Built – the year the home was builtMarket Hotness – an index from 1-100 (very cool to very hot) indicating how quickly homes sell and the level of buyer demandSold Price vs. List Price – the sold price shown as a percentage of the original list price (based on properties sold in the last year)Sold Price/ sqft. – the home’s most recent sale price divided by its total square footageDays on Market – the time it takes properties to sell (based on properties sold in the last year)Neighborhood – display neighborhood boundaries and access details on the number of homes on the market, the median number of days homes spend on the market and the median list price within a neighborhood

Dynamic map layers offer unparalleled data visualization with dynamic zoom and pan functionality. By using these layers, users can get an equally holistic and granular view of a home’s characteristics and a neighborhood’s attributes.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact
Asees Singh press@realtor.com

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SOURCE realtor.com

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Socket Mobile Announces CaptureSDK Support for iOS 18

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FREMONT, Calif., Sept. 24, 2024 /PRNewswire/ — Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce that CaptureSDK and its entire line of barcode scanners and NFC reader/writers have been thoroughly tested and have achieved full compatibility with iOS 18.

iOS 18 compatibility across the entire Socket Mobile product line ensures that Apple users can maximize the utility of both their Socket Mobile data readers and their Bluetooth-paired Apple iPhones or iPads. CaptureSDK’s support for iOS 18 means that business applications continue to run smoothly on Apple’s latest platform, offering stability, efficiency, and access to the newest features. Users can seamlessly integrate the latest Apple advancements into their workflow and expect optimal performance from both devices.

“Socket Mobile has a strong track record of maintaining compatibility with Apple’s latest advancements and is devoted to supporting our app developer partners. We strive to provide ultimate device compatibility and best-in-class development tools,” said Dave Holmes, Chief Business Officer at Socket Mobile. “With iOS 18 support added to CaptureSDK, all users of our data capture devices can stay current with Apple’s latest technology while discovering new ways to leverage the power and versatility of our barcode scanners and NFC reader/writers.

“To ensure compatibility and to take full advantage of the features offered by our barcode scanners and NFC reader/writers, app development partners only need to upgrade their apps to the latest version of CaptureSDK whenever new updates are released. Our world-class support team is always available to ensure that their data capture solutions continue to work seamlessly. Combined with the quality of our products and dedicated support, this makes Socket Mobile’s CaptureSDK, along with our scanners and readers, an excellent choice for Apple device users.”

CaptureSDK has been integrated into thousands of applications and gives app providers reliable and consistent data capture performance, enabling their apps to efficiently capture data in the physical world. With CaptureSDK, app providers can maximize the value of their solution and increase their customer’s overall productivity and satisfaction. With CaptureSDK-enabled apps, end-users can interchange any of Socket Mobile’s data capture devices, resulting in the freedom to choose the best reader for each customer’s requirements at any given time. With iOS 18 compatibility, Socket’s CaptureSDK delivers a new level of control and adaptability for iOS app developers.

iOS compatibility will always be a focus for Socket Mobile as Apple continues to roll out new updates for its customers.

Learn More About CaptureSDK

Media Contact: David Holmes, David.holmes@socketmobile.com

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SOURCE Socket Mobile, Inc.

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JinkoSolar Unveils its First Climate White Paper at 2024 New York Climate Week

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SHANGRAO, China, Sept. 24, 2024 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its principle operating subsidiary Jinko Solar Co., Ltd.’s participation in the 2024 New York Climate Week, where we officially launch the English version of our first Climate White Paper*. This comprehensive report outlines our commitment to sustainability, innovative strategies to reduce carbon emissions, and actionable steps for creating a greener, more resilient future.

As one of the leading voices in the fight against climate change, JinkoSolar has long been dedicated to aligning its operations with global climate goals. The new White Paper not only highlights the progress we’ve made, but also identifies new opportunities in both the PV and BESS sectors to collaborate across industries to accelerate decarbonization and enhance sustainability efforts.

Meanwhile, Jinko Solar Co., Ltd. as a member of the Board of Directors of the Global Solar Council, is honored to be part of the Finance Roundtable and, together with the Global Solar Council, co-hosting the discussion for lowering solar PV cost. This roundtable brings together development and commercial banks, industry experts, policymakers, and business leaders in shaping the future of climate action. Our active participation underscores our firm belief that addressing the climate crisis requires bold and decisive action together with financial players.

JinkoSolar looks forward to continuing its leadership in the bankability and sustainability space and to driving meaningful change in the global effort to combat climate change.

*Note: Disclosed information in the report covers our principal operating subsidiary Jinko Solar Co., Ltd. and its subsidiaries. The report is available on the Company’s website at https://www.jinkosolar.com/en/site/responsibility.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions. 

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-unveils-its-first-climate-white-paper-at-2024-new-york-climate-week-302256888.html

SOURCE JinkoSolar Holding Co., Ltd.

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