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Speech and Voice Recognition Market with COVID-19 Impact Analysis by Delivery Method, Deployment Mode (On Cloud, On-Premises/Embedded), Technology (Sp...

Publisher:        MarketsandMarkets

# of Pages:        220

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Publication Date:  August, 2021

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1 INTRODUCTION 32
1.1 OBJECTIVES OF THE STUDY 32
1.2 DEFINITION 32
1.2.1 INCLUSIONS AND EXCLUSIONS 33
1.3 SUMMARY OF CHANGES 33
1.4 SCOPE OF THE STUDY 34
1.4.1 MARKETS COVERED 34
1.4.2 GEOGRAPHIC SCOPE 34
1.4.3 YEARS CONSIDERED FOR THE STUDY 35
1.5 CURRENCY 35
1.6 LIMITATIONS 35
1.7 STAKEHOLDERS 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 1 PROCESS FLOW: SPEECH AND VOICE RECOGNITION MARKET SIZE ESTIMATION 37
FIGURE 2 SPEECH AND VOICE RECOGNITION MARKET: RESEARCH DESIGN 38
2.1.1 SECONDARY AND PRIMARY RESEARCH 39
FIGURE 3 RESEARCH APPROACH 39
2.1.2 SECONDARY DATA 39
2.1.2.1 Secondary sources 40
2.1.2.2 Key secondary sources 40
2.1.3 PRIMARY DATA 40
2.1.3.1 Primary sources 41
2.1.3.2 Key industry insights 41
2.1.3.3 Primary interviews with experts 42
2.1.3.4 List of key primary respondents 42
2.1.3.5 Breakdown of primaries 42
2.2 MARKET SIZE ESTIMATION 43
2.2.1 BOTTOM-UP APPROACH 43
2.2.1.1 Approach for arriving at market size by bottom-up analysis 43
FIGURE 4 SPEECH AND VOICE RECOGNITION MARKET: BOTTOM-UP APPROACH 44
2.2.2 TOP-DOWN APPROACH 44
2.2.2.1 Approach for capturing market size by top-down analysis 44
FIGURE 5 SPEECH AND VOICE RECOGNITION MARKET: TOP-DOWN APPROACH 45
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 45
FIGURE 6 DATA TRIANGULATION 45
2.4 RESEARCH ASSUMPTIONS 46
2.5 LIMITATIONS 47
2.6 RISK ASSESSMENT 47
TABLE 1 RISK ASSESSMENT 47
3 EXECUTIVE SUMMARY 48
3.1 SPEECH AND VOICE RECOGNITION MARKET: POST COVID-19 48
3.1.1 REALISTIC SCENARIO 48
FIGURE 7 REALISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET,
2017–2026 (USD BILLION) 48
3.1.2 PESSIMISTIC SCENARIO 49
FIGURE 8 PESSIMISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET,
2017–2026 (USD BILLION) 49
3.1.3 OPTIMISTIC SCENARIO 49
FIGURE 9 OPTIMISTIC SCENARIO: SPEECH AND VOICE RECOGNITION MARKET,
2017–2026 (USD BILLION) 49
FIGURE 10 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET 50
FIGURE 11 SPEECH RECOGNITION TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD 51
FIGURE 12 ON CLOUD DEPLOYMENT MODE TO DOMINATE DURING FORECAST PERIOD 51
FIGURE 13 CONSUMER VERTICAL TO DOMINATE SPEECH AND VOICE RECOGNITION MARKET DURING FORECAST PERIOD 52
FIGURE 14 AMERICAS HELD LARGEST MARKET SHARE IN 2020 53
4 PREMIUM INSIGHTS 54
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN SPEECH AND VOICE RECOGNITION MARKET 54
FIGURE 15 INCREASING DEMAND FOR SPEECH AND VOICE RECOGNITION IN APAC TO DRIVE MARKET GROWTH 54
4.2 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY 54
FIGURE 16 VOICE RECOGNITION TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 54
4.3 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT TYPE 55
FIGURE 17 ON CLOUD SEGMENT DOMINATED SPEECH AND VOICE RECOGNITION MARKET IN 2020 55
4.4 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY AND TECHNOLOGY 55
FIGURE 18 US AND SPEECH RECOGNITION SEGMENTS TO HOLD LARGEST SHARES OF SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS BY 2026 55
4.5 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL 56
FIGURE 19 CONSUMER VERTICAL TO EXHIBIT HIGHEST CAGR FROM 2021 TO 2026 56
4.6 SPEECH AND VOICE RECOGNITION MARKET, BY COUNTRY (2021) 57
FIGURE 20 US TO HOLD LARGEST SHARE OF SPEECH AND VOICE RECOGNITION MARKET IN 2021 57
 
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 58
FIGURE 21 DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES 58
5.2.1 DRIVERS 59
5.2.1.1 Increasing penetration of speech and voice recognition technology in smart appliances 59
FIGURE 22 VOICE ASSISTANT SALES BY KEY BRANDS IN YEAR 2020 59
5.2.1.2 Growing use of speech and voice recognition technology for transcription 59
5.2.1.3 High demand for speech-based biometric systems for multifactor authentication 60
FIGURE 23 DATA BREACH COMPLAINTS IN THE US (2018-2020) 60
5.2.1.4 Rising demand for voice authentication in mobile banking applications 60
FIGURE 24 USE OF SPEECH RECOGNITION CAN PREVENT IDENTITY THEFT IN BANKING AND FINANCE 61
5.2.1.5 Use of Artificial Intelligence (AI) to boost accuracy of speech and voice recognition systems 61
FIGURE 25 DRIVERS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT 62
5.2.2 RESTRAINTS 62
5.2.2.1 Concerns regarding data privacy and security 62
5.2.2.2 High cost of high-end voice recognition systems 62
5.2.2.3 Huge investment in technology development keeps out small players 63
FIGURE 26 RESTRAINTS FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT 63
5.2.3 OPPORTUNITIES 63
5.2.3.1 Creation of a more personalized experience for users 63
5.2.3.2 Integration of speech and voice recognition technology with mobile applications 64
5.2.3.3 Development of speech and voice recognition software for micro-linguistics and local languages 64
5.2.3.4 Application of speech and voice recognition in service robotics 64
5.2.3.5 Use of speech and voice recognition technology to aid education of disabled students 65
5.2.3.6 Increasing role of speech and voice recognition technology in autonomous cars 65
5.2.3.7 Growing consumer preference for technologically advanced products 66
FIGURE 27 OPPORTUNITIES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT 66
5.2.4 CHALLENGES 67
5.2.4.1 Increased errors due to background noise 67
5.2.4.2 Lack of standardized platform for development of customized products 67
5.2.4.3 Slow network speeds pose a challenge to cloud-based speech recognition services 67
FIGURE 28 CHALLENGES FOR SPEECH AND VOICE RECOGNITION MARKET AND THEIR IMPACT 68
6 INDUSTRY ANALYSIS 69
6.1 VALUE CHAIN ANALYSIS 69
FIGURE 29 VALUE CHAIN ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET 69
6.2 ECOSYSTEM 70
FIGURE 30 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM 70
TABLE 2 SPEECH AND VOICE RECOGNITION MARKET: ECOSYSTEM 70
6.2.1 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET 71
FIGURE 31 REVENUE SHIFT IN SPEECH AND VOICE RECOGNITION MARKET 71
6.3 PATENT ANALYSIS 72
FIGURE 32 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 75
FIGURE 33 ANNUAL NUMBER OF PATENTS GRANTED OVER LAST 10 YEARS 75
TABLE 3 TOP 20 PATENT OWNERS (US) IN LAST 10 YEARS 76
6.4 TRADE ANALYSIS 77
FIGURE 34 IMPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND) 77
TABLE 4 IMPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND) 78
FIGURE 35 EXPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND) 78
TABLE 5 EXPORT DATA OF SOUND RECORDING OR SOUND REPRODUCING APPARATUS, BY COUNTRY, 2016–2020 (USD THOUSAND) 79
6.5 TARIFF ANALYSIS 79
TABLE 6 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY NETHERLANDS IN 2020 80
TABLE 7 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY CHINA IN 2020 80
TABLE 8 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY UK IN 2020 80
TABLE 9 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY US IN 2020 81
TABLE 10 TARRIF RATE FOR SOUND RECORDING OR SOUND REPRODUCING APPARATUS EXPORTED BY GERMANY IN 2020 81
6.6 CASE STUDY ANALYSIS 82
6.6.1 SPEECH RECOGNITION TECHNOLOGY HELPS RETAILER BOOST FIRST CALL RESOLUTION RATE AT CONTACT CENTER 82
6.6.2 WORKLOAD OF AGENTS AT BANK’S CONTACT CENTER SIGNIFICANTLY REDUCES 82
6.6.3 TRANSLATOR APP FACILITATES MULTILINGUAL PARENT-TEACHER COMMUNICATION 82
6.6.4 BRADESCO OFFERS CUSTOMERS QUICKER RESPONSE TIME WITH WATSON 83
6.6.5 VOICE RECOGNITION PRODUCT HELPS ENHANCE PATIENT EXPERIENCE 83
 
6.7 PORTER’S FIVE FORCES ANALYSIS 84
TABLE 11 SPEECH AND VOICE RECOGNITION MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020 84
6.7.1 THREAT OF NEW ENTRANTS 84
6.7.2 THREAT OF SUBSTITUTES 85
6.7.3 BARGAINING POWER OF BUYERS 85
6.7.4 BARGAINING POWER OF SUPPLIERS 85
6.7.5 DEGREE OF COMPETITION 85
6.8 TECHNOLOGY ANALYSIS 86
6.8.1 MICROSOFT ALLOWS USERS CONTROL OVER USE OF VOICE CLIPS TO IMPROVE SPEECH RECOGNITION ALGORITHM 86
6.8.2 APPLE DEVELOPS AI MODEL FOR AUTOMATIC SPEECH TRANSCRIPTION AND SPEAKER RECOGNITION 86
6.8.3 SPEECHMATICS LAUNCHES SPEECH RECOGNITION SERVICE ON MICROSOFT AZURE 86
6.8.4 CRESCENDO SPEECH PROCESSING SOFTWARE OFFERS MULTILINGUAL SUPPORT 86
6.8.5 FACEBOOK’S AI OPEN SOURCE PROVIDES NEW DATASET FOR SPEECH RECOGNITION 87
6.9 KEY REGULATIONS FOR SPEECH AND VOICE RECOGNITION MARKET 87
TABLE 12 KEY REGULATIONS: SPEECH AND VOICE RECOGNITION MARKET 87
6.10 PRICING ANALYSIS 88
7 SPEECH AND VOICE RECOGNITION, BY DELIVERY METHOD 89
7.1 INTRODUCTION 90
FIGURE 36 DELIVERY METHODS IN SPEECH AND VOICE RECOGNITION 90
7.2 ARTIFICIAL INTELLIGENCE-BASED 90
7.2.1 AI-BASED RECOGNITION SEGMENT EXPECTED TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD 90
7.3 NON-ARTIFICIAL INTELLIGENCE-BASED 91
7.3.1 NON-AI-BASED SYSTEMS OFFER INDUSTRY-LEADING ACCURACY, SECURITY AND CONSISTENCY 91
8 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY 92
8.1 INTRODUCTION 93
FIGURE 37 SPEECH AND VOICE RECOGNITION MARKET SEGMENTATION, BY TECHNOLOGY 93
FIGURE 38 VOICE RECOGNITION MARKET TO GROW AT HIGHER RATE DURING FORECAST PERIOD 94
TABLE 13 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY,
2017–2020 (USD MILLION) 94
TABLE 14 SPEECH AND VOICE RECOGNITION MARKET, BY TECHNOLOGY,
2021–2026 (USD MILLION) 94
8.2 VOICE RECOGNITION 95
8.2.1 FACILITATES CONTACTLESS INTERFACE DURING AND POST PANDEMIC 95
TABLE 15 VOICE RECOGNITION MARKET, BY REGION, 2017–2020 (USD MILLION) 95
TABLE 16 VOICE RECOGNITION MARKET, BY REGION, 2021–2026 (USD MILLION) 96
8.2.2 SPEAKER IDENTIFICATION 96
8.2.2.1 Growing new age technologies boost need for speaker identification 96
8.2.3 SPEAKER VERIFICATION 96
8.2.3.1 Increasingly used by banks for security purposes 96
8.3 SPEECH RECOGNITION 97
8.3.1 MULTILINGUAL SPEECH RECOGNITION TO INCREASE SCOPE OF APPLICATIONS 97
TABLE 17 SPEECH RECOGNITION MARKET, BY REGION, 2017–2020 (USD MILLION) 97
TABLE 18 SPEECH RECOGNITION MARKET, BY REGION, 2021–2026 (USD MILLION) 98
8.3.2 AUTOMATIC SPEECH RECOGNITION 98
8.3.2.1 Significant advancements in technology in recent years 98
8.3.3 TEXT-TO-SPEECH 98
8.3.3.1 Popular assistive technology for reading and writing 98
FIGURE 39 AUTOMATIC SPEECH RECOGNITION TO HOLD LARGER SIZE OF SPEECH RECOGNITION MARKET DURING FORECAST PERIOD 99
TABLE 19 SPEECH RECOGNITION MARKET, BY TYPE, 2017–2020 (USD MILLION) 99
TABLE 20 SPEECH RECOGNITION MARKET, BY TYPE, 2021–2026 (USD MILLION) 99
9 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE 100
9.1 INTRODUCTION 101
FIGURE 40 DEPLOYMENT MODES IN SPEECH & VOICE RECOGNITION 101
FIGURE 41 ON CLOUD SPEECH AND VOICE RECOGNITION SEGMENT TO HOLD MAJOR MARKET SHARE BETWEEN 2021 AND 2026 101
TABLE 21 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE,
2017–2020 (USD MILLION) 102
TABLE 22 SPEECH AND VOICE RECOGNITION MARKET, BY DEPLOYMENT MODE,
2021–2026 (USD MILLION) 102
9.2 ON CLOUD 102
9.2.1 EXPECTED TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD 102
TABLE 23 SPEECH AND VOICE RECOGNITION MARKET FOR ON CLOUD, BY REGION, 2017–2020 (USD MILLION) 103
TABLE 24 SPEECH AND VOICE RECOGNITION MARKET FOR ON CLOUD, BY REGION, 2021–2026 (USD MILLION) 103
9.3 ON-PREMISES/EMBEDDED 104
9.3.1 PROJECTED TO WITNESS HIGHER GROWTH DURING FORECAST PERIOD 104
TABLE 25 SPEECH AND VOICE RECOGNITION MARKET FOR ON-PREMISES/EMBEDDED, BY REGION, 2017–2020 (USD MILLION) 104
TABLE 26 SPEECH AND VOICE RECOGNITION MARKET FOR ON-PREMISES/EMBEDDED, BY REGION, 2021–2026 (USD MILLION) 105
 
10 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL 106
10.1 INTRODUCTION 107
FIGURE 42 CONSUMER VERTICAL TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 107
TABLE 27 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL,
2017–2020 (USD MILLION) 108
TABLE 28 SPEECH AND VOICE RECOGNITION MARKET, BY VERTICAL,
2021–2026 (USD MILLION) 108
FIGURE 43 GOVERNMENT VERTICAL TO HOLD HIGHEST SHARE OF VOICE RECOGNITION MARKET DURING FORECAST PERIOD 109
TABLE 29 VOICE RECOGNITION MARKET, BY VERTICAL, 2017–2020 (USD MILLION) 109
TABLE 30 VOICE RECOGNITION MARKET, BY VERTICAL, 2021–2026 (USD MILLION) 110
FIGURE 44 CONSUMER VERTICAL TO HOLD HIGHEST SHARE OF SPEECH RECOGNITION MARKET DURING FORECAST PERIOD 110
TABLE 31 SPEECH RECOGNITION MARKET, BY VERTICAL, 2017–2020 (USD MILLION) 111
TABLE 32 SPEECH RECOGNITION MARKET, BY VERTICAL, 2021–2026 (USD MILLION) 111
10.2 AUTOMOTIVE 112
10.2.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGY IN CARS 112
FIGURE 45 VEHICLE INSURANCE MARKET TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 113
TABLE 33 SPEECH AND VOICE RECOGNITION MARKET FOR AUTOMOTIVE,
BY APPLICATION, 2017–2020 (USD MILLION) 113
TABLE 34 SPEECH AND VOICE RECOGNITION MARKET FOR AUTOMOTIVE,
BY APPLICATION, 2021–2026 (USD MILLION) 113
TABLE 35 SPEECH RECOGNITION MARKET FOR AUTOMAOIVE, BY APPLICATION,
2017–2020 (USD MILLION) 114
TABLE 36 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION,
2021–2026 (USD MILLION) 114
TABLE 37 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION,
2017–2020 (USD MILLION) 114
TABLE 38 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY APPLICATION,
2021–2026 (USD MILLION) 114
TABLE 39 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION,
2017–2020 (USD MILLION) 115
TABLE 40 SPEECH RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION,
2021–2026 (USD MILLION) 115
TABLE 41 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION,
2017–2020 (USD MILLION) 115
TABLE 42 VOICE RECOGNITION MARKET FOR AUTOMOTIVE, BY REGION,
2021–2026 (USD MILLION) 116
10.3 ENTERPRISES 116
10.3.1 GROWING ADOPTION OF VIRTUAL ASSISTANTS POST PANDEMIC TO BOOST MARKET 116
10.3.2 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES: COVID-19 IMPACT 117
FIGURE 46 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES 117
TABLE 43 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES, 2017–2026 (USD MILLION) 117
TABLE 44 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES,
BY APPLICATION, 2017–2020 (USD MILLION) 118
TABLE 45 SPEECH AND VOICE RECOGNITION MARKET FOR ENTERPRISES,
BY APPLICATION, 2021–2026 (USD MILLION) 118
TABLE 46 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION,
2017–2020 (USD MILLION) 118
TABLE 47 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION,
2021–2026 (USD MILLION) 119
TABLE 48 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION,
2017–2020 (USD MILLION) 119
TABLE 49 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY APPLICATION,
2021–2026 (USD MILLION) 119
TABLE 50 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY REGION,
2017–2020 (USD MILLION) 120
TABLE 51 SPEECH RECOGNITION MARKET FOR ENTERPRISES, BY REGION,
2021–2026 (USD MILLION) 120
TABLE 52 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY REGION,
2017–2020 (USD MILLION) 120
TABLE 53 VOICE RECOGNITION MARKET FOR ENTERPRISES, BY REGION,
2021–2026 (USD MILLION) 121
10.4 CONSUMER 121
10.4.1 GROWTH IN NUMBER OF VOICE CONTROL-BASED SMART ASSISTIVE DEVICES 121
10.4.2 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER: COVID-19 IMPACT 122
FIGURE 47 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER 122
TABLE 54 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER, 2017–2026 (USD MILLION) 122
FIGURE 48 MOBILE DEVICE CONTROL SEGMENT TO HAVE LARGER MARKET SHARE 123
TABLE 55 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER,
BY APPLICATION, 2017–2020 (USD MILLION) 123
TABLE 56 SPEECH AND VOICE RECOGNITION MARKET FOR CONSUMER,
BY APPLICATION, 2021–2026 (USD MILLION) 123
TABLE 57 SPEECH RECOGNITION MARKET FOR CONSUMER, BY APPLICATION,
2017–2020 (USD MILLION) 124
TABLE 58 SPEECH RECOGNITION MARKET FOR CONSUMER, BY APPLICATION,
2021–2026 (USD MILLION) 124
TABLE 59 VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION,
2017–2020 (USD MILLION) 124
TABLE 60 VOICE RECOGNITION MARKET FOR CONSUMER, BY APPLICATION,
2021–2026 (USD MILLION) 124
TABLE 61 SPEECH RECOGNITION MARKET FOR CONSUMER, BY REGION,
2017–2020 (USD MILLION) 125
TABLE 62 SPEECH RECOGNITION MARKET FOR CONSUMER, BY REGION,
2021–2026 (USD MILLION) 125
TABLE 63 VOICE RECOGNITION MARKET FOR CONSUMER, BY REGION,
2017–2020 (USD MILLION) 125
TABLE 64 VOICE RECOGNITION MARKET FOR CONSUMER, BY REGION,
2021–2026 (USD MILLION) 126
10.5 BANKING, FINANCIAL SERVICES AND INSURANCE (BFSI) 126
10.5.1 GROWING DEMAND FOR VOICE AUTHENTICATION IN MOBILE BANKING APPLICATIONS 126
TABLE 65 SPEECH AND VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION) 127
TABLE 66 SPEECH AND VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION) 127
TABLE 67 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION) 127
TABLE 68 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION) 128
TABLE 69 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2017–2020 (USD MILLION) 128
TABLE 70 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY APPLICATION, 2021–2026 (USD MILLION) 128
TABLE 71 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2017–2020 (USD MILLION) 129
TABLE 72 SPEECH RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2021–2026 (USD MILLION) 129
TABLE 73 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2017–2020 (USD MILLION) 129
TABLE 74 VOICE RECOGNITION MARKET FOR BANKING, FINANCIAL SERVICES AND INSURANCE, BY REGION, 2021–2026 (USD MILLION) 130
10.6 GOVERNMENT 130
10.6.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION SYSTEMS FOR MULTIPLE TASKS 130
FIGURE 49 PROOF OF LIFE TO HAVE LARGER MARKET SHARE DURING FORECAST PERIOD 131
TABLE 75 SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT,
BY APPLICATION, 2017–2020 (USD MILLION) 131
TABLE 76 SPEECH AND VOICE RECOGNITION MARKET FOR GOVERNMENT,
BY APPLICATION, 2021–2026 (USD MILLION) 131
TABLE 77 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION,
2017–2020 (USD MILLION) 132
TABLE 78 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION,
2021–2026 (USD MILLION) 132
TABLE 79 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION,
2017–2020 (USD MILLION) 132
TABLE 80 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY APPLICATION,
2021–2026 (USD MILLION) 132
TABLE 81 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY REGION,
2017–2020 (USD MILLION) 133
TABLE 82 SPEECH RECOGNITION MARKET FOR GOVERNMENT, BY REGION,
2021–2026 (USD MILLION) 133
TABLE 83 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY REGION,
2017–2020 (USD MILLION) 133
TABLE 84 VOICE RECOGNITION MARKET FOR GOVERNMENT, BY REGION,
2021–2026 (USD MILLION) 134
10.7 RETAIL 134
10.7.1 USE OF SPEECH AND VOICE RECOGNITION TO CREATE MORE PERZONALIZED EXPERIENCE 134
TABLE 85 SPEECH AND VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2017–2020 (USD MILLION) 135
TABLE 86 SPEECH AND VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION, 2021–2026 (USD MILLION) 135
TABLE 87 SPEECH RECOGNITION MARKET FOR RETAIL, BY APPLICATION,
2017–2020 (USD MILLION) 135
TABLE 88 SPEECH RECOGNITION MARKET FOR RETAIL, BY APPLICATION,
2021–2026 (USD MILLION) 136
TABLE 89 VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION,
2017–2020 (USD MILLION) 136
TABLE 90 VOICE RECOGNITION MARKET FOR RETAIL, BY APPLICATION,
2021–2026 (USD MILLION) 136
TABLE 91 SPEECH RECOGNITION MARKET FOR RETAIL, BY REGION,
2017–2020 (USD MILLION) 137
TABLE 92 SPEECH RECOGNITION MARKET FOR RETAIL, BY REGION,
2021–2026 (USD MILLION) 137
TABLE 93 VOICE RECOGNITION MARKET FOR RETAIL, BY REGION,
2017–2020 (USD MILLION) 137
TABLE 94 VOICE RECOGNITION MARKET FOR RETAIL, BY REGION,
2021–2026 (USD MILLION) 138
10.8 HEALTHCARE 138
10.8.1 INCREASING USE OF SPEECH AND VOICE RECOGNITION TO AVOID ERRORS AND IMPROVE EFFICIENCY 138
10.8.2 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE: COVID-19 IMPACT 139
FIGURE 50 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE 139
TABLE 95 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE, 2017–2026 (USD MILLION) 139
FIGURE 51 SPECIAL PURPOSE ROBOTS SEGMENT EXPECTED TO RECORD HIGHER CAGR DURING FORECAST PERIOD 140
TABLE 96 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE,
BY APPLICATION, 2017–2020 (USD MILLION) 140
TABLE 97 SPEECH AND VOICE RECOGNITION MARKET FOR HEALTHCARE,
BY APPLICATION, 2021–2026 (USD MILLION) 140
TABLE 98 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION,
2017–2020 (USD MILLION) 141
TABLE 99 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION,
2021–2026 (USD MILLION) 141
TABLE 100 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION,
2017–2020 (USD MILLION) 141
TABLE 101 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY APPLICATION,
2021–2026 (USD MILLION) 141
TABLE 102 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY REGION,
2017–2020 (USD MILLION) 142
TABLE 103 SPEECH RECOGNITION MARKET FOR HEALTHCARE, BY REGION,
2021–2026 (USD MILLION) 142
TABLE 104 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY REGION,
2017–2020 (USD MILLION) 142
TABLE 105 VOICE RECOGNITION MARKET FOR HEALTHCARE, BY REGION,
2021–2026 (USD MILLION) 143
10.9 MILITARY 143
10.9.1 INNOVATION IN SPEECH RECOGNITION TO IMPROVE MILITARY OPERATIONS 143
TABLE 106 SPEECH AND VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2017–2020 (USD MILLION) 144
TABLE 107 SPEECH AND VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION, 2021–2026 (USD MILLION) 144
TABLE 108 SPEECH RECOGNITION MARKET FOR MILITARY, BY APPLICATION,
2017–2020 (USD MILLION) 144
TABLE 109 SPEECH RECOGNITION MARKET FOR MILITARY, BY APPLICATION,
2021–2026 (USD MILLION) 144
TABLE 110 VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION,
2017–2020 (USD MILLION) 145
TABLE 111 VOICE RECOGNITION MARKET FOR MILITARY, BY APPLICATION,
2021–2026 (USD MILLION) 145
TABLE 112 SPEECH RECOGNITION MARKET FOR MILITARY, BY REGION,
2017–2020 (USD MILLION) 145
TABLE 113 SPEECH RECOGNITION MARKET FOR MILITARY, BY REGION,
2021–2026 (USD MILLION) 146
TABLE 114 VOICE RECOGNITION MARKET FOR MILITARY, BY REGION,
2017–2020 (USD MILLION) 146
TABLE 115 VOICE RECOGNITION MARKET FOR MILITARY, BY REGION,
2021–2026 (USD MILLION) 146
10.10 LEGAL 147
10.10.1 ADOPTION OF SPEECH AND VOICE RECOGNITION TOOLS RESULTS IN INCREASED PRODUCTIVITY 147
TABLE 116 SPEECH AND VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2017–2020 (USD MILLION) 147
TABLE 117 SPEECH AND VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION, 2021–2026 (USD MILLION) 147
TABLE 118 SPEECH RECOGNITION MARKET FOR LEGAL, BY APPLICATION,
2017–2020 (USD MILLION) 148
TABLE 119 SPEECH RECOGNITION MARKET FOR LEGAL, BY APPLICATION,
2021–2026 (USD MILLION) 148
TABLE 120 VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION,
2017–2020 (USD MILLION) 148
TABLE 121 VOICE RECOGNITION MARKET FOR LEGAL, BY APPLICATION,
2021–2026 (USD MILLION) 148
TABLE 122 SPEECH RECOGNITION MARKET FOR LEGAL, BY REGION,
2017–2020 (USD MILLION) 149
TABLE 123 SPEECH RECOGNITION MARKET FOR LEGAL, BY REGION,
2021–2026 (USD MILLION) 149
TABLE 124 VOICE RECOGNITION MARKET FOR LEGAL, BY REGION,
2017–2020 (USD MILLION) 149
TABLE 125 VOICE RECOGNITION MARKET FOR LEGAL, BY REGION,
2021–2026 (USD MILLION) 150
10.11 EDUCATION 150
10.11.1 USE OF SPEECH AND VOICE RECOGNITION TECHNOLOGY TO EDUCATE DISABLED STUDENTS 150
FIGURE 52 LANGUAGE LEARNING SEGMENT EXPECTED TO RECORD HIGHER CAGR DURING FORECAST PERIOD 151
TABLE 126 SPEECH AND VOICE RECOGNITION MARKET FOR EDUCATION,
BY APPLICATION, 2017–2020 (USD MILLION) 151
TABLE 127 SPEECH AND VOICE RECOGNITION MARKET FOR EDUCATION,
BY APPLICATION, 2021–2026 (USD MILLION) 151
TABLE 128 SPEECH RECOGNITION MARKET FOR EDUCATION, BY APPLICATION,
2017–2020 (USD MILLION) 152
TABLE 129 SPEECH RECOGNITION MARKET FOR EDUCATION, BY APPLICATION,
2021–2026 (USD MILLION) 152
TABLE 130 VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION,
2017–2020 (USD MILLION) 152
TABLE 131 VOICE RECOGNITION MARKET FOR EDUCATION, BY APPLICATION,
2021–2026 (USD MILLION) 152
TABLE 132 SPEECH RECOGNITION MARKET FOR EDUCATION, BY REGION,
2017–2020 (USD MILLION) 153
TABLE 133 SPEECH RECOGNITION MARKET FOR EDUCATION, BY REGION,
2021–2026 (USD MILLION) 153
TABLE 134 VOICE RECOGNITION MARKET FOR EDUCATION, BY REGION,
2017–2020 (USD MILLION) 153
TABLE 135 VOICE RECOGNITION MARKET FOR EDUCATION, BY REGION,
2021–2026 (USD MILLION) 154
10.12 OTHERS 154
TABLE 136 SPEECH RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION,
2017–2020 (USD MILLION) 155
TABLE 137 SPEECH RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION,
2021–2026 (USD MILLION) 155
TABLE 138 VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION,
2017–2020 (USD MILLION) 155
TABLE 139 VOICE RECOGNITION MARKET FOR OTHER VERTICALS, BY REGION,
2021–2026 (USD MILLION) 156
11 SPEECH AND VOICE RECOGNITION MARKET, BY GEOGRAPHY 157
11.1 INTRODUCTION 158
FIGURE 53 MARKET SEGMENT BY GEOGRAPHY 158
FIGURE 54 MARKET SHARE BY REGION 158
FIGURE 55 SPEECH AND VOICE RECOGNITION MARKET IN APAC TO RECORD HIGHEST CAGR FROM 2021 TO 2026 159
TABLE 140 SPEECH AND VOICE RECOGNITION MARKET, BY REGION,
2017–2020 (USD MILLION) 159
TABLE 141 SPEECH AND VOICE RECOGNITION MARKET, BY REGION,
2021–2026 (USD MILLION) 159
 
11.2 AMERICAS 160
FIGURE 56 AMERICAS: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT 160
11.2.1 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS: COVID-19 IMPACT 161
FIGURE 57 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS 161
TABLE 142 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, 2017–2026 (USD MILLION) 161
TABLE 143 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (USD MILLION) 162
TABLE 144 SPEECH AND VOICE RECOGNITION MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (USD MILLION) 162
11.2.2 US 162
11.2.2.1 Growing number of innovative startups to boost demand for speech and voice recognition 162
11.2.3 CANADA 163
11.2.3.1 Deployment of voice biometrics technology in banking industry to enhance security levels 163
11.2.4 REST OF AMERICAS 163
11.2.4.1 Increased digitalization to drive market growth 163
11.3 EUROPE 164
FIGURE 58 EUROPE: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT 165
TABLE 145 SPEECH AND VOICE RECOGNITION MARKET IN EUROPE, BY COUNTRY,
2017–2020 (USD MILLION) 165
TABLE 146 SPEECH AND VOICE RECOGNITION MARKET IN EUROPE, BY COUNTRY,
2021–2026 (USD MILLION) 166
11.3.1 UK 166
11.3.1.1 Huge funding and collaboration increase market growth 166
11.3.2 GERMANY 166
11.3.2.1 Greater dependence on AI and cognitive technologies in enterprises 166
11.3.3 FRANCE 167
11.3.3.1 Significant improvement in air traffic control drives growth of speech and voice recognition market 167
11.3.4 REST OF EUROPE 167
11.4 APAC 168
FIGURE 59 APAC: SPEECH AND VOICE RECOGNITION MARKET SNAPSHOT 168
11.4.1 SPEECH AND VOICE RECOGNITION MARKET IN APAC: COVID-19 IMPACT 169
FIGURE 60 IMPACT OF COVID-19 ON SPEECH AND VOICE RECOGNITION MARKET IN APAC 169
TABLE 147 POST-COVID-19: SPEECH AND VOICE RECOGNITION MARKET IN APAC, 2017–2026 (USD MILLION) 169
TABLE 148 SPEECH AND VOICE RECOGNITION MARKET IN APAC, BY COUNTRY,
2017–2020 (USD MILLION) 170
TABLE 149 SPEECH AND VOICE RECOGNITION MARKET IN APAC, BY COUNTRY,
2021–2026 (USD MILLION) 170
11.4.2 JAPAN 170
11.4.2.1 Use of speech and voice recognition in automotive industry fuels market growth 170
11.4.3 CHINA 171
11.4.3.1 Significant investment by government and private organizations boosts market 171
11.4.4 INDIA 171
11.4.4.1 Large-scale technological development and increasing mobile and internet penetration to drive market growth 171
11.4.5 REST OF APAC 172
11.5 ROW 172
FIGURE 61 SNAPSHOT: SPEECH AND VOICE RECOGNITION MARKET IN ROW 172
TABLE 150 SPEECH AND VOICE RECOGNITION MARKET IN ROW, BY REGION,
2017–2020 (USD MILLION) 173
TABLE 151 SPEECH AND VOICE RECOGNITION MARKET IN ROW, BY REGION,
2021–2026 (USD MILLION) 173
11.5.1 MIDDLE EAST 173
11.5.1.1 Cautious adoption of speech and voice recognition solutions 173
11.5.2 AFRICA 174
11.5.2.1 Banks collaborating with software providers to implement voice recognition 174
12 COMPETITIVE LANDSCAPE 175
12.1 INTRODUCTION 175
12.2 REVENUE ANALYSIS OF TOP 5 COMPANIES 175
FIGURE 62 REVENUE ANALYSIS (USD BILLION), 2016–2020 175
12.3 MARKET SHARE ANALYSIS 176
TABLE 152 SPEECH AND VOICE RECOGNITION MARKET: DEGREE OF COMPETITION (2020) 176
FIGURE 63 MARKET SHARE ANALYSIS: SPEECH AND VOICE RECOGNITION MARKET 2020 176
12.4 COMPANY EVALUATION QUADRANT 178
12.4.1 STAR 178
12.4.2 EMERGING LEADER 178
12.4.3 PERVASIVE 178
12.4.4 PARTICIPANT 178
FIGURE 64 SPEECH AND VOICE RECOGNITION MARKET COMPANY EVALUATION QUADRANT, 2020 179
12.4.5 COMPANY FOOTPRINT 180
TABLE 153 COMPANY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET 180
FIGURE 65 COMPANY VERTICAL FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET 181
TABLE 154 COMPANY TECHNOLOGY FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET 182
TABLE 155 COMPANY REGION FOOTPRINT: SPEECH AND VOICE RECOGNITION MARKET 183
12.5 SME EVALUATION QUADRANT FOR SPEECH AND VOICE RECOGNITION MARKET, 2020 184
12.5.1 PROGRESSIVE COMPANIES 184
12.5.2 RESPONSIVE COMPANIES 184
12.5.3 DYNAMIC COMPANIES 184
12.5.4 STARTING BLOCKS 184
FIGURE 66 SPEECH AND VOICE RECOGNITION MARKET STARTUP/SME EVALUATION QUADRANT, 2020 185
12.6 COMPETITIVE SITUATION AND TRENDS 186
12.6.1 PRODUCT LAUNCHES AND DEVELOPMENTS 186
TABLE 156 PRODUCT LAUNCHES AND DEVLOPMENTS, 2019–2020 186
12.6.2 DEALS 187
TABLE 157 DEALS, 2019–2020 187
13 COMPANY PROFILES 188
13.1 KEY PLAYERS 188
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
13.1.1 APPLE 188
TABLE 158 APPLE: BUSINESS OVERVIEW 188
FIGURE 67 APPLE: COMPANY SNAPSHOT 189
13.1.2 MICROSOFT 191
TABLE 159 MICROSOFT: BUSINESS OVERVIEW 191
FIGURE 68 MICROSOFT: COMPANY SNAPSHOT 192
13.1.3 IBM 195
TABLE 160 IBM: BUSINESS OVERVIEW 195
FIGURE 69 IBM: COMPANY SNAPSHOT 196
13.1.4 ALPHABET 199
TABLE 161 APLHABET: BUSINESS OVERVIEW 199
FIGURE 70 ALPHABET: COMPANY SNAPSHOT 200
13.1.5 AMAZON 202
TABLE 162 AMAZON: BUSINESS OVERVIEW 202
FIGURE 71 AMAZON: COMPANY SNAPSHOT 203
13.1.6 SENSORY 205
TABLE 163 SENSORY: BUSINESS OVERVIEW 205
13.1.7 CANTAB RESEARCH 207
TABLE 164 CANTAB RESEARCH: BUSINESS OVERVIEW 207
13.1.8 BAIDU 209
TABLE 165 BAIDU: BUSINESS OVERVIEW 209
FIGURE 72 BAIDU: COMPANY SNAPSHOT 209
13.1.9 IFLYTEK 211
TABLE 166 IFLYTEK: BUSINESS OVERVIEW 211
13.1.10 SPEECH ENABLED SOFTWARE TECHNOLOGIES (SESTEK) 212
TABLE 167 SESTEK: BUSINESS OVERVIEW 212
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
 
13.2 OTHER PLAYERS 213
13.2.1 RAYTHEON BBN TECHNOLOGIES 213
13.2.2 SPEAK2WEB 214
13.2.3 M2SYS 214
13.2.4 M*MODAL 215
13.2.5 VOICEVAULT 215
13.2.6 VALIDSOFT 216
13.2.7 LUMENVOX 216
13.2.8 ACAPELA GROUP 217
13.2.9 VOCALZOOM 217
13.2.10 BIOTRUST ID 218
13.2.11 UNIPHORE SOFTWARE 218
13.2.12 ISPEECH 219
13.2.13 GOVIVACE 219
13.2.14 ADVANCED VOICE RECOGNITION SYSTEMS 220
13.2.15 DOLBEY 220
14 APPENDIX 221
14.1 INSIGHTS OF INDUSTRY EXPERTS 221
14.2 DISCUSSION GUIDE 222
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 224
14.4 AVAILABLE CUSTOMIZATIONS 226
14.5 RELATED REPORTS 226
14.6 AUTHOR DETAILS 227

Telecom Power System Market by grid type (On-Grid, Off-Grid, Bad grid), component, power source, Technology, (AC power system, DC power system), Power...

Publisher:        MarketsandMarkets

# of Pages:        230

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Publication Date:  March, 2022

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1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 22
1.3 STUDY SCOPE 23
1.3.1 MARKET SEGMENTATION 23
FIGURE 1 TELECOM POWER SYSTEM MARKET SEGMENTATION 23
1.3.2 GEOGRAPHIC SCOPE 23
1.3.3 INCLUSIONS AND EXCLUSIONS 24
1.3.4 YEARS CONSIDERED 25
1.4 CURRENCY 25
1.5 STAKEHOLDERS 25
1.6 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
FIGURE 2 TELECOM POWER SYSTEM MARKET: RESEARCH DESIGN 27
2.1.1 SECONDARY DATA 28
2.1.1.1 Secondary sources 28
2.1.2 PRIMARY DATA 29
2.1.2.1 Primary interviews with experts 29
2.1.2.2 Breakdown of primary interviews 29
2.1.2.3 Key data from primary sources 30
2.1.2.4 Key industry insights 30
2.2 MARKET SIZE ESTIMATION 31
FIGURE 3 TELECOM POWER SYSTEM MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 31
2.2.1 TOP-DOWN APPROACH 31
2.2.1.1 Approach for capturing market size by top-down analysis
(supply side) 32
FIGURE 4 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 SUPPLY SIDE 32
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - SUPPLY SIDE 33
2.2.2 BOTTOM-UP APPROACH 34
2.2.2.1 Approach for capturing market share by bottom-up analysis
(demand side) 34
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - DEMAND SIDE 34
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 35
FIGURE 7 DATA TRIANGULATION 35
 
2.4 RESEARCH ASSUMPTIONS 36
TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY 36
2.5 LIMITATIONS 37
2.6 RISK FACTORS 37
3 EXECUTIVE SUMMARY 38
FIGURE 8 TELECOM POWER SYSTEM MARKET, 2018–2027 (USD BILLION) 39
3.1 TELECOM POWER SYSTEM MARKET SCENARIO 39
FIGURE 9 GROWTH PROJECTIONS FOR TELECOM POWER SYSTEM MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 39
3.1.1 REALISTIC SCENARIO 40
3.1.2 PESSIMISTIC SCENARIO 40
3.1.3 OPTIMISTIC SCENARIO 40
FIGURE 10 BAD GRID SEGMENT TO HOLD LARGEST SHARE OF TELECOM POWER SYSTEM MARKET, BY GRID TYPE, DURING FORECAST PERIOD 40
FIGURE 11 INVERTERS TO REGISTER HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET, BY COMPONENT, DURING FORECAST PERIOD 41
FIGURE 12 DIESEL-BATTERY SEGMENT HELD LARGEST SHARE, BY POWER SOURCE,
OF TELECOM POWER SYSTEM MARKET IN 2021 41
FIGURE 13 APAC TO EXHIBIT HIGHEST CAGR IN GLOBAL TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 42
4 PREMIUM INSIGHTS 43
4.1 ATTRACTIVE OPPORTUNITIES IN TELECOM POWER SYSTEM MARKET 43
FIGURE 14 INCREASING NUMBER OF TELECOM INFRASTRUCTURES IN REMOTE AREAS TO CREATE GROWTH OPPORTUNITIES FOR MARKET 43
4.2 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE 44
FIGURE 15 DIESEL-SOLAR POWER SOURCE TO WITNESS HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 44
4.3 TELECOM POWER SYSTEM MARKET, BY GRID TYPE 44
FIGURE 16 BAD-GRID SEGMENT HELD LARGEST SHARE OF TELECOM POWER SYSTEM MARKET IN 2021 44
4.4 TELECOM POWER SYSTEM MARKET, BY COMPONENT 45
FIGURE 17 INVERTER COMPONENT SEGMENT TO EXPERIENCE HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 45
4.5 COUNTRY-WISE TELECOM POWER SYSTEM MARKET GROWTH 46
FIGURE 18 TELECOM POWER SYSTEM MARKET IN INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 47
5.2.1 DRIVERS 48
FIGURE 20 TELECOM POWER SYSTEM MARKET DRIVERS AND THEIR IMPACT 48
5.2.1.1 Increasing number of telecom infrastructures in remote areas 48
TABLE 2 4G TECHNOLOGY PENETRATION IN URBAN VS RURAL AREAS 49
5.2.1.2 Growing adoption of telecom services and high data traffic 49
FIGURE 21 MOBILE DATA TRAFFIC 2018–2022 49
TABLE 3 PENETRATION OF INDIVIDUALS USING INTERNET 50
5.2.1.3 Rising awareness about reducing carbon footprint from telecom power systems 50
5.2.2 RESTRAINTS 51
FIGURE 22 TELECOM POWER SYSTEM MARKET RESTRAINTS AND THEIR IMPACT 51
5.2.2.1 High deployment and operational costs 51
5.2.2.2 Environmental concerns due to usage of diesel 51
5.2.3 OPPORTUNITY 52
FIGURE 23 TELECOM POWER SYSTEM MARKET OPPORTUNITIES AND THEIR IMPACT 52
5.2.3.1 Growing adoption of hybrid power systems 52
5.2.3.2 Increasing technological advancements in cellular networks
(5G, LTE services, etc.) 53
TABLE 4 4G TECHNOLOGY PENETRATION 53
5.2.3.3 Surging requirements for advanced telecom infrastructure and
M2M connections 53
FIGURE 24 CELLULAR IOT CONNECTIONS, 2019 VS. 2025 54
5.2.3.4 Rising use of GaN-based power devices with evolution of 5G technology 54
5.2.4 CHALLENGES 55
FIGURE 25 TELECOM POWER SYSTEM MARKET CHALLENGES AND THEIR IMPACT 55
5.2.4.1 Lack of infrastructure development for energy management 55
5.2.4.2 Design challenges for telecom power systems 55
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 56
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES RELATED TO TELECOM POWER SYSTEM MARKET 56
5.4 ECOSYSTEM/MARKET MAP 57
TABLE 5 TELECOM POWER SYSTEM MARKET: ECOSYSTEM 57
FIGURE 27 KEY PLAYERS IN TELECOM POWER SYSTEM ECOSYSTEM 58
5.4.1 TELECOM POWER SYSTEM MANUFACTURERS 58
5.4.2 TELECOM NETWORK SOLUTION PROVIDERS 58
5.4.3 SYSTEM INTEGRATORS 58
5.4.4 NETWORK OPERATORS 59
5.5 TECHNOLOGY ANALYSIS 59
5.5.1 5G NETWORK 59
5.5.2 SMART MANUFACTURING 59
5.5.3 ASSET PERFORMANCE MANAGEMENT SYSTEMS 60
5.6 VALUE CHAIN ANALYSIS 60
FIGURE 28 VALUE CHAIN: TELECOM POWER SYSTEM MARKET 60
 
5.7 PATENT ANALYSIS 62
TABLE 6 NOTABLE PATENTS PERTAINING TO TELECOM POWER SYSTEM MARKET 62
TABLE 7 NUMBER OF PATENTS REGISTERED RELATED TO TELECOM POWER SYSTEM MARKET IN LAST 10 YEARS 66
FIGURE 29 TOP 10 COMPANIES WITH HIGHEST NO. OF PATENT APPLICATIONS IN LAST 10 YEARS 67
FIGURE 30 NO. OF PATENTS GRANTED PER YEAR, 2012–2021 67
5.8 REGULATORY LANDSCAPE 68
5.8.1 NORTH AMERICA 68
5.8.2 EUROPE 68
5.8.3 APAC 69
5.8.4 GLOBAL 69
5.9 TRADE DATA 69
5.9.1 IMPORT DATA 70
TABLE 8 IMPORT DATA FOR HS CODE 8504, BY COUNTRY, 2016–2020 (USD BILLION) 70
5.9.2 EXPORT DATA 70
TABLE 9 EXPORT DATA FOR HS CODE 8504, BY COUNTRY, 2016–2020 (USD BILLION) 70
5.10 CASE STUDY ANALYSIS 71
5.10.1 POWERING OF LARGE TELECOM AND SEASONAL AIR CONDITIONING 71
5.10.2 ADVANCED REMOTE TELECOM SITE AUTOMATION 71
5.10.3 OFF-GRID LTE WIRELESS NETWORKS 72
5.10.4 HYBRID OFF-GRID TELECOM SITES 72
5.10.5 HD-PLC FOR A FASTER, CHEAPER SMART METERING 73
5.11 KEY CONFERENCES & EVENTS DURING 2022–2023 73
TABLE 10 TELECOM POWER SYSTEM MARKET: DETAILED LIST OF CONFERENCES & EVENTS 73
5.12 PORTER’S FIVE FORCE ANALYSIS 77
TABLE 11 IMPACT OF PORTER’S FIVE FORCES ON TELECOM POWER SYSTEM MARKET 77
FIGURE 31 TELECOM POWER SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 77
5.12.1 INTENSITY OF COMPETITIVE RIVALRY 78
5.12.2 THREAT OF SUBSTITUTES 78
5.12.3 BARGAINING POWER OF BUYERS 78
5.12.4 BARGAINING POWER OF SUPPLIERS 78
5.12.5 THREAT OF NEW ENTRANTS 78
5.13 KEY STAKEHOLDERS & BUYING CRITERIA 79
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 79
FIGURE 32 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 POWER SOURCES 79
TABLE 12 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 POWER SOURCES (%) 79
5.13.2 BUYING CRITERIA 80
FIGURE 33 KEY BUYING CRITERIA FOR TOP 3 POWER SOURCES 80
TABLE 13 KEY BUYING CRITERIA FOR TOP 3 POWER SOURCES 80
5.14 AVERAGE SELLING PRICE (ASP) ANALYSIS 81
FIGURE 34 GLOBAL ASP OF TELECOM POEWR SYSTEMS, 2021 81
6 TELECOM POWER SYSTEM MARKET, BY COMPONENT 82
6.1 INTRODUCTION 83
FIGURE 35 INVERTERS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 83
TABLE 14 TELECOM POWER SYSTEM MARKET, BY COMPONENT,
2018–2021 (USD MILLION) 83
TABLE 15 TELECOM POWER SYSTEM MARKET, BY COMPONENT,
2022–2027 (USD MILLION) 84
6.2 RECTIFIERS 84
6.2.1 RECTIFIERS CONVERT ALTERNATING CURRENT TO DIRECT CURRENT AND PROVIDE POWER TO CHARGE BATTERIES 84
6.3 INVERTERS 85
6.3.1 INVERTERS TO REGISTER HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 85
6.4 CONVERTERS 85
6.4.1 MAJOR FUNCTION OF CONVERTERS IS TO CONVERT UNREGULATED VOLTAGE INTO REGULATED VOLTAGE 85
6.5 CONTROLLERS 86
6.5.1 CONTROLLERS PROVIDE INTELLIGENT CONTROL AND MONITOR OPERATIONAL PARAMETERS OF TEMECOM POEWR SYSTEMS 86
6.6 HEAT MANAGEMENT SYSTEMS 86
6.6.1 HEAT MANAGEMENT SYSTEMS OFFER INCLUDE HEAT EXCHANGE, DIRECT VENTILATION, THERMOELECTRIC COOLING, AND DC-POWERED AIR CONDITIONING 86
6.7 GENERATORS 87
6.7.1 GENERATORS PROVIDE RELIABILITY AND LONG HOURS OF USE IN REMOTE LOCATIONS WITHOUT COMPROMISING PERFORMANCE 87
6.8 OTHERS 87
6.8.1 POWER DISTRIBUTION UNITS 87
6.8.2 BATTERIES 88
6.8.3 SOLAR OR PV CELLS 88
6.8.4 WIND TURBINES 88
6.8.5 SURGE PROTECTION DEVICES 89
6.8.6 CIRCUIT BREAKERS 89
7 TELECOM POWER SYSTEM MARKET, BY GRID TYPE 91
7.1 INTRODUCTION 92
FIGURE 36 TELECOM POWER SYSTEM FOR OFF-GRID TYPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 92
TABLE 16 TELECOM POWER SYSTEM MARKET, BY GRID TYPE,
2018–2021 (USD MILLION) 92
TABLE 17 TELECOM POWER SYSTEM MARKET, BY GRID TYPE,
2022–2027 (USD MILLION) 92
 
7.2 ON-GRID 93
7.2.1 ON-GRID-CONNECTED TELECOM POWER SYSTEMS HAVE LOWER ENVIRONMENTAL IMPACT 93
TABLE 18 TELECOM POWER SYSTEM MARKET FOR ON-GRID, BY REGION,
2018–2021 (USD MILLION) 93
TABLE 19 TELECOM POWER SYSTEM MARKET FOR ON-GRID, BY REGION,
2022–2027 (USD MILLION) 93
7.3 OFF-GRID 94
7.3.1 OFF-GRID-CONNECTED TELECOM POWER SYSTEMS ARE EXPECTED TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 94
TABLE 20 TELECOM POWER SYSTEM MARKET FOR OFF-GRID, BY REGION,
2018–2021 (USD MILLION) 94
TABLE 21 TELECOM POWER SYSTEM MARKET FOR OFF-GRID BY REGION,
2022–2027 (USD MILLION) 95
7.4 BAD GRID 95
7.4.1 BAD GRID-CONNECTED TELECOM POWER SYSTEMS ARE MAINLY USED IN DEVELOPING ECONOMIES SUCH AS INDIA, BRAZIL, AND AFRICAN COUNTRIES 95
TABLE 22 TELECOM POWER SYSTEM MARKET FOR BAD GRID, BY REGION,
2018–2021 (USD MILLION) 96
TABLE 23 TELECOM POWER SYSTEM MARKET FOR BAD GRID BY REGION,
2022–2027 (USD MILLION) 96
8 TELECOM POWER SYSTEM MARKET, BY POWER RATING 97
8.1 INTRODUCTION 98
FIGURE 37 TELECOM POWER SYSTEMS WITH BELOW 10 KW POWER RATING TO DOMINATE MARKET DURING FORECAST PERIOD 98
TABLE 24 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2018–2021 (USD MILLION) 98
TABLE 25 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2022–2027 (USD MILLION) 99
TABLE 26 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2018–2021 (THOUSAND UNITS) 99
TABLE 27 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2022–2027 (THOUSAND UNITS) 99
8.2 BELOW 10 KW 100
8.2.1 TELECOM POWER SYSTEMS BELOW 10 KW ARE MAINLY USED IN CELL TOWERS, BTS, AND BASE STATIONS FOR TELECOM TOWERS 100
8.3 10–20 KW 100
8.3.1 POWER SYSTEMS OF 10–20 KW RATING ARE PRIMARILY USED IN
5G TOWERS AND RECTIFIER MODULES 100
8.4 ABOVE 20 KW 100
8.4.1 POWER SYSTEMS ABOVE 20 KW ARE MAINLY USED IN ACCESS NETWORKS, DATA CENTERS, AND INDOOR POWER SYSTEMS 100
 
9 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE 101
9.1 INTRODUCTION 102
FIGURE 38 TELECOM POWER SYSTEM MARKET FOR DIESEL-SOLAR POWER SOURCE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 102
TABLE 28 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE,
2018–2021 (USD MILLION) 102
TABLE 29 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE,
2022–2027 (USD MILLION) 103
9.2 DIESEL–BATTERY POWER SOURCE 103
9.2.1 DIESEL–BATTERY POWER SOURCE IS MOST COMMON POWER SOURCE USED FOR TELECOM POWER SYSTEMS 103
TABLE 30 ADVANTAGES OF DIESEL–BATTERY POWER SOURCE 103
TABLE 31 DISADVANTAGES OF DIESEL–BATTERY POWER SOURCE 104
TABLE 32 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE, BY REGION, 2018–2021 (USD MILLION) 104
TABLE 33 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE BY REGION, 2022–2027 (USD MILLION) 105
TABLE 34 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 105
TABLE 35 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 105
TABLE 36 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 106
TABLE 37 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 106
TABLE 38 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 106
TABLE 39 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 107
TABLE 40 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 107
TABLE 41 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 107
9.3 DIESEL–SOLAR POWER SOURCE 108
9.3.1 DIESEL–SOLAR POWER SOURCE IS DESIGNED TO USE IN MORE REMOTE CELLULAR BASE STATIONS 108
TABLE 42 ADVANTAGES OF DIESEL–SOLAR POWER SOURCE 108
TABLE 43 DISADVANTAGES OF DIESEL–SOLAR POWER SOURCE 109
TABLE 44 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE,
BY REGION, 2018–2021 (USD MILLION) 109
TABLE 45 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE,
BY REGION, 2022–2027 (USD MILLION) 110
TABLE 46 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 110
TABLE 47 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 110
TABLE 48 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 111
TABLE 49 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 111
TABLE 50 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 111
TABLE 51 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 112
TABLE 52 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 53 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 112
9.4 DIESEL–WIND POWER SOURCE 113
9.4.1 DIESEL–WIND POWER SYSTEMS ARE WELL SUITED IN BAD-GRID AND OFF-GRID AREAS 113
TABLE 54 ADVANTAGES OF DIESEL–WIND POWER SOURCE 113
TABLE 55 DISADVANTAGES OF DIESEL–WIND POWER SOURCE 113
TABLE 56 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE,
BY REGION, 2018–2021 (USD MILLION) 114
TABLE 57 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE,
BY REGION, 2022–2027 (USD MILLION) 114
TABLE 58 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 114
TABLE 59 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 115
TABLE 60 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 115
TABLE 61 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 115
TABLE 62 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 116
TABLE 63 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 116
TABLE 64 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 116
TABLE 65 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 117
9.5 MULTIPLE POWER SOURCES (DIESEL/SOLAR/WIND/BATTERY/BIOMASS) 117
9.5.1 MULTIPLE POWER SOURCES ENABLE COST-EFFECTIVE WAY OF GENERATING ELECTRICITY 117
TABLE 66 ADVANTAGES OF DIESEL–BIOMASS POWER SOURCE 118
TABLE 67 DISADVANTAGES OF DIESEL–BIOMASS POWER SOURCE 118
TABLE 68 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES,
BY REGION, 2018–2021 (USD MILLION) 118
TABLE 69 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES,
BY REGION, 2022–2027 (USD MILLION) 119
TABLE 70 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 119
TABLE 71 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 119
TABLE 72 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 120
TABLE 73 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 120
TABLE 74 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 120
TABLE 75 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 121
TABLE 76 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN ROW, BY REGION, 2018–2021 (USD MILLION) 121
TABLE 77 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN ROW, BY REGION, 2022–2027 (USD MILLION) 121
10 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY 122
10.1 INTRODUCTION 123
FIGURE 39 DC POWER SYSTEMS TO HOLD LARGER SHARE OF TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 123
TABLE 78 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY,
2018–2021 (USD MILLION) 123
TABLE 79 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY,
2022–2027 (USD MILLION) 123
10.2 AC POWER SYSTEMS 124
10.2.1 AC POWER SYSTEMS ARE MAINLY USED FOR TESTING RF AMPLIFIERS, SATELLITES, AND DATA CENTERS 124
10.3 DC POWER SYSTEMS 124
10.3.1 DC POWER SYSTEMS ARE MAINLY USED IN TELECOM POWER SYSTEMS 124
11 GEOGRAPHIC ANALYSIS 125
11.1 INTRODUCTION 126
FIGURE 40 APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 126
TABLE 80 TELECOM POWER SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 126
TABLE 81 TELECOM POWER SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 127
11.2 NORTH AMERICA 127
FIGURE 41 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN NORTH AMERICA 128
TABLE 82 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 128
TABLE 83 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 129
TABLE 84 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY POWER SOURCE, 2018–2021 (USD MILLION) 129
TABLE 85 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY POWER SOURCE, 2022–2027 (USD MILLION) 129
 
11.2.1 US 129
11.2.1.1 US held largest size of North American market in 2021 129
TABLE 86 TELECOM POWER SYSTEM MARKET IN US, BY POWER SOURCE,
2018–2021 (USD MILLION) 130
TABLE 87 TELECOM POWER SYSTEM MARKET IN US, BY POWER SOURCE,
2022–2027 (USD MILLION) 130
11.2.2 CANADA 131
11.2.2.1 Demand for telecom power systems in Canada is primarily driven by development of telecom infrastructure in rural areas 131
TABLE 88 TELECOM POWER SYSTEM MARKET IN CANADA, BY POWER SOURCE,
2018–2021 (USD MILLION) 131
TABLE 89 TELECOM POWER SYSTEM MARKET IN CANADA, BY POWER SOURCE,
2022–2027 (USD MILLION) 131
11.2.3 MEXICO 132
11.2.3.1 Mexico is estimated to be fastest-growing market in North America during forecast period 132
TABLE 90 TELECOM POWER SYSTEM MARKET IN MEXICO, BY POWER SOURCE,
2018–2021 (USD MILLION) 132
TABLE 91 TELECOM POWER SYSTEM MARKET IN MEXICO, BY POWER SOURCE,
2022–2027 (USD MILLION) 132
11.3 EUROPE 133
FIGURE 42 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN EUROPE 134
TABLE 92 TELECOM POWER SYSTEM MARKET IN EUROPE, BY COUNTRY,
2018–2021 (USD MILLION) 134
TABLE 93 TELECOM POWER SYSTEM MARKET IN EUROPE, BY COUNTRY,
2022–2027 (USD MILLION) 135
TABLE 94 TELECOM POWER SYSTEM MARKET IN EUROPE, BY POWER SOURCE,
2018–2021 (USD MILLION) 135
TABLE 95 TELECOM POWER SYSTEM MARKET IN EUROPE, BY POWER SOURCE,
2022–2027 (USD MILLION) 135
11.3.1 UK 136
11.3.1.1 UK is expected to be fastest-growing market in Europe during forecast period 136
TABLE 96 TELECOM POWER SYSTEM MARKET IN UK, BY POWER SOURCE,
2018–2021 (USD MILLION) 136
TABLE 97 TELECOM POWER SYSTEM MARKET IN UK, BY POWER SOURCE,
2022–2027 (USD MILLION) 136
11.3.2 GERMANY 137
11.3.2.1 Germany held largest share of telecom power system market in Europe in 2021 137
TABLE 98 TELECOM POWER SYSTEM MARKET IN GERMANY, BY POWER SOURCE, 2018–2021 (USD MILLION) 137
TABLE 99 TELECOM POWER SYSTEM MARKET IN GERMANY, BY POWER SOURCE, 2022–2027 (USD MILLION) 137
 
11.3.3 FRANCE 138
11.3.3.1 Expected introduction of upcoming 5G technology provides significant investment opportunities for leading telecom power system providers in France 138
TABLE 100 TELECOM POWER SYSTEM MARKET IN FRANCE, BY POWER SOURCE,
2018–2021 (USD MILLION) 138
TABLE 101 TELECOM POWER SYSTEM MARKET IN FRANCE, BY POWER SOURCE,
2022–2027 (USD MILLION) 138
11.3.4 SPAIN 139
11.3.4.1 Spain has developed telecommunication services with various new technologies and innovation trends 139
TABLE 102 TELECOM POWER SYSTEM MARKET IN SPAIN, BY POWER SOURCE,
2018–2021 (USD MILLION) 139
TABLE 103 TELECOM POWER SYSTEM MARKET IN SPAIN, BY POWER SOURCE,
2022–2027 (USD MILLION) 139
11.3.5 REST OF EUROPE 140
TABLE 104 TELECOM POWER SYSTEM MARKET IN REST OF EUROPE, BY POWER SOURCE, 2018–2021 (USD MILLION) 140
TABLE 105 TELECOM POWER SYSTEM MARKET IN REST OF EUROPE, BY POWER SOURCE, 2022–2027 (USD MILLION) 140
11.4 APAC 140
FIGURE 43 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN APAC 141
TABLE 106 TELECOM POWER SYSTEM MARKET IN APAC, BY COUNTRY,
2018–2021 (USD MILLION) 142
TABLE 107 TELECOM POWER SYSTEM MARKET IN APAC, BY COUNTRY,
2022–2027 (USD MILLION) 142
TABLE 108 TELECOM POWER SYSTEM MARKET IN APAC, BY POWER SOURCE,
2018–2021 (USD MILLION) 142
TABLE 109 TELECOM POWER SYSTEM MARKET IN APAC, BY POWER SOURCE,
2022–2027 (USD MILLION) 143
11.4.1 CHINA 143
11.4.1.1 China held largest share of telecom power system market in APAC
in 2021 143
TABLE 110 TELECOM POWER SYSTEM MARKET IN CHINA, BY POWER SOURCE,
2018–2021 (USD MILLION) 144
TABLE 111 TELECOM POWER SYSTEM MARKET IN CHINA, BY POWER SOURCE,
2022–2027 (USD MILLION) 144
11.4.2 JAPAN 144
11.4.2.1 Development and deployment of advanced telecom network infrastructures present opportunities for telecom power system providers in Japan 144
TABLE 112 TELECOM POWER SYSTEM MARKET IN JAPAN, BY POWER SOURCE,
2018–2021 (USD MILLION) 145
TABLE 113 TELECOM POWER SYSTEM MARKET IN JAPAN, BY POWER SOURCE,
2022–2027 (USD MILLION) 145
 
11.4.3 SOUTH KOREA 145
11.4.3.1 South Korea is among leaders in terms of development of telecom networks 145
TABLE 114 TELECOM POWER SYSTEM MARKET IN SOUTH KOREA, BY POWER SOURCE, 2018–2021 (USD MILLION) 146
TABLE 115 TELECOM POWER SYSTEM MARKET IN SOUTH KOREA, BY POWER SOURCE, 2022–2027 (USD MILLION) 146
11.4.4 INDIA 146
11.4.4.1 India is expected to be fastest-growing market during forecast period 146
TABLE 116 TELECOM POWER SYSTEM MARKET IN INDIA, BY POWER SOURCE,
2018–2021 (USD MILLION) 147
TABLE 117 TELECOM POWER SYSTEM MARKET IN INDIA, BY POWER SOURCE,
2022–2027 (USD MILLION) 147
11.4.5 AUSTRALIA & NEW ZEALAND 148
11.4.5.1 Technological advancements and telecom infrastructure developments propel growth of telecom power system market 148
TABLE 118 TELECOM POWER SYSTEM MARKET IN AUSTRALIA & NEW ZEALAND,
BY POWER SOURCE, 2018–2021 (USD MILLION) 148
TABLE 119 TELECOM POWER SYSTEM MARKET IN AUSTRALIA & NEW ZEALAND,
BY POWER SOURCE, 2022–2027 (USD MILLION) 148
11.4.6 REST OF APAC 149
TABLE 120 TELECOM POWER SYSTEM MARKET IN REST OF APAC, BY POWER SOURCE, 2018–2021 (USD MILLION) 149
TABLE 121 TELECOM POWER SYSTEM MARKET IN REST OF APAC, BY POWER SOURCE, 2022–2027 (USD MILLION) 149
11.5 ROW 150
TABLE 122 TELECOM POWER SYSTEM MARKET IN ROW, BY REGION,
2018–2021 (USD MILLION) 150
TABLE 123 TELECOM POWER SYSTEM MARKET IN ROW, BY REGION,
2022–2027 (USD MILLION) 150
TABLE 124 TELECOM POWER SYSTEM MARKET IN ROW, BY POWER SOURCE,
2018–2021 (USD MILLION) 150
TABLE 125 TELECOM POWER SYSTEM MARKET IN ROW, BY POWER SOURCE,
2022–2027 (USD MILLION) 151
11.5.1 MIDDLE EAST AND AFRICA 151
11.5.1.1 Middle East and Africa are expected to witness higher growth of market in RoW during forecast period 151
TABLE 126 TELECOM POWER SYSTEM MARKET IN MIDDLE EAST AND AFRICA,
BY POWER SOURCE, 2018–2021 (USD MILLION) 152
TABLE 127 TELECOM POWER SYSTEM MARKET IN MIDDLE EAST AND AFRICA,
BY POWER SOURCE, 2022–2027 (USD MILLION) 152
11.5.2 SOUTH AMERICA 152
11.5.2.1 Deployment of telecom infrastructures in rural areas propels growth of market in South America 152
TABLE 128 TELECOM POWER SYSTEM MARKET IN SOUTH AMERICA, BY POWER SOURCE, 2018–2021 (USD MILLION) 153
TABLE 129 TELECOM POWER SYSTEM MARKET IN SOUTH AMERICA, BY POWER SOURCE, 2022–2027 (USD MILLION) 153
12 COMPETITIVE LANDSCAPE 154
12.1 OVERVIEW 154
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 154
TABLE 130 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MARKET PLAYERS 154
12.2.1 PRODUCT PORTFOLIO 156
12.2.2 REGIONAL FOCUS 156
12.2.3 MANUFACTURING FOOTPRINT 156
12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 156
12.3 MARKET SHARE ANALYSIS: TELECOM POWER SYSTEM MARKET, 2021 157
TABLE 131 TELECOM POWER SYSTEM MARKET: DEGREE OF COMPETITION, 2021 157
12.4 5-YEAR COMPANY REVENUE ANALYSIS 158
FIGURE 44 5-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN TELECOM POWER SYSTEM MARKET 158
12.5 COMPANY EVALUATION QUADRANT 158
12.5.1 STAR 158
12.5.2 EMERGING LEADER 158
12.5.3 PERVASIVE 159
12.5.4 PARTICIPANT 159
FIGURE 45 TELECOM POWER SYSTEM COMPANY EVALUATION QUADRANT, 2021 159
12.5.5 COMPANY FOOTPRINT 160
TABLE 132 OVERALL COMPANY FOOTPRINT 160
TABLE 133 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS POWER SOURCES 161
TABLE 134 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS COMPONENTS 162
TABLE 135 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS REGIONS 163
12.6 START-UP/SME EVALUATION MATRIX 164
TABLE 136 LIST OF START-UPS IN TELECOM POWER SYSTEM MARKET 164
12.6.1 PROGRESSIVE COMPANIES 165
12.6.2 RESPONSIVE COMPANIES 165
12.6.3 DYNAMIC COMPANIES 165
12.6.4 STARTING BLOCKS 165
FIGURE 46 TELECOM POWER SYSTEM MARKET, STARTUP/SME EVALUATION MATRIX, 2021 166
12.7 COMPETITIVE SITUATIONS AND TRENDS 167
12.7.1 PRODUCT LAUNCHES 167
TABLE 137 PRODUCT LAUNCHES, 2020–2022 167
12.7.2 DEALS 173
TABLE 138 DEALS, 2020–2022 173
 
13 COMPANY PROFILES 175
13.1 INTRODUCTION 175
(Business overview, Products/solutions/services offered, Recent developments & MnM View)*
13.2 KEY PLAYERS 175
13.2.1 EATON 175
TABLE 139 EATON: COMPANY SNAPSHOT 176
FIGURE 47 EATON: COMPANY SNAPSHOT 176
13.2.2 HUAWEI TECHNOLOGIES 182
TABLE 140 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT 182
FIGURE 48 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT 183
13.2.3 CUMMINS 188
TABLE 141 CUMMINS: COMPANY SNAPSHOT 188
FIGURE 49 CUMMINS: COMPANY SNAPSHOT 189
13.2.4 ZTE CORPORATION 192
TABLE 142 ZTE CORPORATION: COMPANY SNAPSHOT 192
FIGURE 50 ZTE CORPORATION: COMPANY SNAPSHOT 193
13.2.5 GENERAL ELECTRIC 197
TABLE 143 GENERAL ELECTRIC: COMPANY SNAPSHOT 197
FIGURE 51 GENERAL ELECTRIC: COMPANY SNAPSHOT 198
13.2.6 SCHNEIDER ELECTRIC 201
TABLE 144 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 201
FIGURE 52 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 202
13.2.7 ALPHA TECHNOLOGIES 205
TABLE 145 ALPHA TECHNOLOGIES: COMPANY SNAPSHOT 205
13.2.8 DELTA ELECTRONICS 207
TABLE 146 DELTA ELECTRONICS: COMPANY SNAPSHOT 207
FIGURE 53 DELTA ELECTRONICS: COMPANY SNAPSHOT 208
13.2.9 ABB 210
TABLE 147 ABB: COMPANY SNAPSHOT 210
FIGURE 54 ABB: COMPANY SNAPSHOT 211
*Details on Business overview, Products/solutions/services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
13.3 OTHER PLAYERS 214
13.3.1 ASCOT INDUSTRIAL 214
TABLE 148 ASCOT INDUSTRIAL: COMPANY SNAPSHOT 214
13.3.2 UNIPOWER 215
TABLE 149 UNIPOWER: COMPANY SNAPSHOT 215
13.3.3 DYNAMIC POWER GROUP 216
TABLE 150 DYNAMIC POWER GROUP: COMPANY SNAPSHOT 216
13.3.4 EFORE 217
TABLE 151 EFORE: COMPANY SNAPSHOT 217
13.3.5 HANGZHOU ZHONGHENG POWER ENERGY 217
TABLE 152 HANGZHOU ZHONHENG POWER ENERGY: COMPANY SNAPSHOT 217
13.3.6 MYERS POWER PRODUCTS 218
TABLE 153 MYERS POWER PRODUCTS: COMPANY SNAPSHOT 218
13.3.7 STATICON 219
TABLE 154 STATICON: COMPANY SNAPSHOT 219
13.3.8 VERTIV GROUP 220
TABLE 155 VERTIV GROUP: COMPANY SNAPSHOT 220
13.3.9 VOLTSERVER 221
TABLE 156 VOLTSERVER: COMPANY SNAPSHOT 221
13.3.10 JMA WIRELESS 221
TABLE 157 JMA WIRELESS: COMPANY SNAPSHOT 221
13.3.11 CORNING INCORPORATED 222
TABLE 158 CORNING INCORPORATED: COMPANY SNAPSHOT 222
14 APPENDIX 223
14.1 DISCUSSION GUIDE 223
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 226
14.3 AVAILABLE CUSTOMIZATION 228
14.4 RELATED REPORTS 228
14.5 AUTHOR DETAILS 229

Smart Lock Market with COVID-19 Impact by Lock Type (Deadbolt Locks, Lever Handles), Communication Protocol (Bluetooth, WiFi), Unlocking Mechanism (Ke...

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# of Pages:        184

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Publication Date:  March, 2022

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1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION AND SCOPE 25
1.2.1 INCLUSIONS AND EXCLUSIONS 26
1.3 STUDY SCOPE 26
1.3.1 MARKETS COVERED 26
1.3.2 GEOGRAPHIC SCOPE 27
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY 27
1.5 MARKET STAKEHOLDERS 28
1.6 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
FIGURE 1 SMART LOCK MARKET: RESEARCH DESIGN 29
2.1.1 SECONDARY DATA 30
2.1.1.1 List of major secondary sources 30
2.1.1.2 Secondary sources 30
2.1.2 PRIMARY DATA 31
2.1.2.1 Primary Expert Interviews 31
2.1.2.2 Key data from primary sources 32
2.1.2.3 Key industry insights 32
2.1.2.4 Breakdown of primaries 33
2.1.3 SECONDARY AND PRIMARY RESEARCH 34
2.2 MARKET SIZE ESTIMATION 35
FIGURE 2 PROCESS FLOW 35
2.2.1 BOTTOM-UP APPROACH 35
2.2.1.1 Approach for calculating market share through bottom-up analysis (demand side) 35
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 36
2.2.2 TOP-DOWN APPROACH 36
2.2.2.1 Approach for calculating market share through top-down analysis (supply side) 37
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 37
2.3 MARKET RANKING ESTIMATION 37
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 38
FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION 38
2.5 RESEARCH ASSUMPTIONS 39
3 EXECUTIVE SUMMARY 40
FIGURE 6 DEADBOLT LOCKS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 41
FIGURE 7 WI-FI COMMUNICATION PROTOCOL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 41
FIGURE 8 KEYPAD UNLOCKING MECHANISM SEGMENT TO HOLD LARGEST SHARE OF SMART LOCK MARKET IN 2027 42
FIGURE 9 RESIDENTIAL VERTICAL TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 42
FIGURE 10 SMART LOCK MARKET IN APAC TO REGISTER HIGHEST CAGR BETWEEN
2022 AND 2027 43
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES IN SMART LOCK MARKET 44
FIGURE 11 RISING DEMAND FOR INTERNET-BASED SECURITY SOLUTIONS TO DRIVE GROWTH OF SMART LOCK MARKET 44
4.2 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY AND VERTICAL 44
FIGURE 12 US AND RESIDENTIAL VERTICAL TO DOMINATE NORTH AMERICAN SMART LOCK MARKET DURING FORECAST PERIOD 44
4.3 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE 45
FIGURE 13 SMART LOCK MARKET FOR DEADBOLT LOCKS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 45
4.4 SMART LOCK MARKET, BY COUNTRY 45
FIGURE 14 CHINA TO ACCOUNT FOR HIGHEST GROWTH RATE IN GLOBAL SMART LOCK MARKET IN 2022 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
FIGURE 15 SMART LOCK MARKET DYNAMICS 46
FIGURE 16 DRIVERS AND THEIR IMPACT ON SMART LOCK MARKET 47
FIGURE 17 OPPORTUNITIES AND THEIR IMPACT ON SMART LOCK MARKET 48
FIGURE 18 RESTRAINTS & CHALLENGES AND THEIR IMPACT ON SMART LOCK MARKET 49
5.2.1 DRIVERS 49
5.2.1.1 Growing security concerns 49
5.2.1.2 Enhanced features compared with traditional lock systems 50
5.2.1.3 Rising adoption of smartphones and other connected devices 50
5.2.2 RESTRAINTS 50
5.2.2.1 High cost and perception of unreliability 50
5.2.2.2 Lack of awareness among customers 51
5.2.3 OPPORTUNITIES 51
5.2.3.1 Increasing adoption of IoT-based security systems 51
5.2.3.2 Rapid urbanization in emerging nations 51
5.2.3.3 Global proliferation of smart cities 52
5.2.4 CHALLENGES 52
5.2.4.1 Risk of cyberattacks through smart devices and IoT-enabled devices 52
5.3 VALUE CHAIN ANALYSIS 52
FIGURE 19 VALUE CHAIN ANALYSIS: MAJOR VALUE ADDED BY RAW MATERIAL SUPPLIERS AND ORIGINAL EQUIPMENT MANUFACTURERS 53
5.4 SMART LOCK MARKET ECOSYSTEM 54
FIGURE 20 SMART LOCK MARKET ECOSYSTEM 54
6 SMART LOCK MARKET, BY LOCK TYPE 55
6.1 INTRODUCTION 56
FIGURE 21 DEADBOLT LOCKS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 56
TABLE 1 SMART LOCK MARKET, BY LOCK TYPE, 2018–2021 (USD MILLION) 56
TABLE 2 SMART LOCK MARKET, BY LOCK TYPE, 2022–2027 (USD MILLION) 57
TABLE 3 SMART LOCK MARKET, BY LOCK TYPE, 2018–2021 (MILLION UNITS) 57
TABLE 4 SMART LOCK MARKET, BY LOCK TYPE, 2022–2027 (MILLION UNITS) 58
6.2 DEADBOLT LOCKS 58
6.2.1 INCREASING DEPLOYMENT OF DEADBOLT LOCKS IN RESIDENTIAL SECTOR TO DRIVE MARKET GROWTH 58
FIGURE 22 RESIDENTIAL VERTICAL TO HOLD LARGEST SHARE OF SMART LOCK MARKET FOR DEADBOLTS DURING FORECAST PERIOD 59
TABLE 5 SMART LOCK MARKET FOR DEADBOLT LOCKS, BY VERTICAL,
2018–2021 (USD MILLION) 59
TABLE 6 SMART LOCK MARKET FOR DEADBOLT LOCKS, BY VERTICAL,
2022–2027 (USD MILLION) 59
6.3 LEVER HANDLES 60
6.3.1 CONVENIENT STRUCTURE AND THEIR COMPLIANCE WITH US DISABILITIES ACT 1990 TO FUEL DEMAND FOR LEVER HANDLES 60
TABLE 7 SMART LOCK MARKET FOR LEVER HANDLES, BY VERTICAL,
2018–2021 (USD MILLION) 60
TABLE 8 SMART LOCK MARKET FOR LEVER HANDLES, BY VERTICAL,
2022–2027 (USD MILLION) 60
6.4 SERVER LOCKS AND LATCHES 61
6.4.1 RISING CONCERNS REGARDING CYBERATTACKS TO FUEL DEMAND FOR SERVER LOCKS AND LATCHES 61
TABLE 9 SMART LOCK MARKET FOR SERVER LOCKS AND LATCHES, BY VERTICAL, 2018–2021 (USD MILLION) 61
TABLE 10 SMART LOCK MARKET FOR SERVER LOCKS AND LATCHES, BY VERTICAL, 2022–2027 (USD MILLION) 61
6.5 KNOB LOCKS 62
6.5.1 GROWING USE OF KNOB LOCKS WITH DEADBOLTS ON EXTERIOR DOORS IN RESIDENTIAL SECTOR TO DRIVE MARKET GROWTH 62
TABLE 11 SMART LOCK MARKET FOR KNOB LOCKS, BY VERTICAL,
2018–2021 (USD MILLION) 62
TABLE 12 SMART LOCK MARKET FOR KNOB LOCKS, BY VERTICAL,
2022–2027 (USD MILLION) 62
6.6 OTHERS 63
TABLE 13 SMART LOCK MARKET FOR OTHERS, BY VERTICAL,
2018–2021 (USD MILLION) 63
TABLE 14 SMART LOCK MARKET FOR OTHERS, BY VERTICAL,
2022–2027 (USD MILLION) 63
7 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL 64
7.1 INTRODUCTION 65
FIGURE 23 WI-FI COMMUNICATION PROTOCOL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 65
TABLE 15 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL,
2018–2021 (USD MILLION) 65
TABLE 16 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL,
2022–2027 (USD MILLION) 66
7.2 WI-FI 66
7.2.1 CONNECTIVITY BENEFITS OFFERED BY WI-FI TO DRIVE MARKET GROWTH 66
7.3 BLUETOOTH 67
7.3.1 WIDE RANGE, LOW POWER CONSUMPTION, AND HIGH RELIABILITY AND BANDWIDTH FEATURES TO FUEL MARKET GROWTH 67
7.4 Z-WAVE 67
7.4.1 GROWING POPULARITY OF RELIABILITY AND HIGH-SPEED FEATURES OF Z-WAVE TO DRIVE MARKET GROWTH 67
7.5 OTHERS 67
7.5.1 ZIGBEE 67
7.5.2 THREAD 67
7.5.3 NFC 67
8 SMART LOCK MARKET, BY UNLOCKING MECHANISM 68
8.1 INTRODUCTION 69
FIGURE 24 KEYPAD UNLOCKING MECHANISM SEGMENT TO HOLD LARGEST SHARE OF SMART LOCK MARKET IN 2027 69
TABLE 17 SMART LOCK MARKET, BY UNLOCKING MECHANISM,
2018–2021 (USD MILLION) 69
TABLE 18 SMART LOCK MARKET, BY UNLOCKING MECHANISM,
2022–2027 (USD MILLION) 70
8.2 KEYPAD 70
8.2.1 INTEGRATION OF KEYPADS WITH ACCESS CONTROL SYSTEMS TO DRIVE MARKET GROWTH 70
8.3 CARD KEY 71
8.3.1 GROWING USE OF RADIO FREQUENCY IDENTIFICATION (RFID) MAGNETIC DOOR LOCKS IN COMMERCIAL OFFICE BUILDINGS TO DRIVE MARKET GROWTH 71
8.3.1.1 Low frequency 71
8.3.1.2 High frequency 71
8.3.1.3 Ultra-high frequency 71
 
8.4 TOUCH BASED 72
8.4.1 GROWING ADOPTION OF AUTOMATED FINGERPRINT IDENTIFICATION SYSTEMS (AFISS) TO FUEL DEMAND FOR FINGERPRINT RECOGNITION SOLUTIONS USED IN SMART LOCK MECHANISM 72
8.5 KEY FOBS 73
8.5.1 RISE IN REPLACEMENT OF OLD METAL KEY SYSTEMS WITH ELECTRONIC FOB SYSTEMS TO DRIVE MARKET GROWTH 73
8.6 SMARTPHONE BASED 73
8.6.1 GROWING ADOPTION OF SMART HOMES TO INCREASE DEMAND FOR SMARTPHONE-BASED DOOR LOCKING SYSTEMS 73
9 SMART LOCK MARKET, BY VERTICAL 74
9.1 INTRODUCTION 75
FIGURE 25 RESIDENTIAL VERTICAL TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 75
TABLE 19 SMART LOCK MARKET, BY VERTICAL, 2018–2021 (USD MILLION) 75
TABLE 20 SMART LOCK MARKET, BY VERTICAL, 2022–2027 (USD MILLION) 76
9.2 COMMERCIAL 76
9.2.1 HOSPITALITY 76
9.2.1.1 Increasing adoption of smart locks in hotels, vacation rental properties, resorts, casinos, and cruise ships to boost market growth 76
9.2.2 RETAIL STORES AND MALLS 77
9.2.2.1 Retail stores and malls segment to witness healthy growth in smart lock market 77
9.2.3 HEALTHCARE 77
9.2.3.1 Growing use of smart locks in healthcare sector to ensure access only to authorized users to boost market growth 77
9.2.4 BANKS AND FINANCIAL CENTRES 77
9.2.4.1 Increasing trend of biometric and multifactor authentication in banking and financial institutions to drive market growth 77
9.2.5 ENTERPRISES AND DATA CENTRES 78
9.2.5.1 Rising demand for security smart cards and biometric access systems to prevent minor security risks in enterprises to drive market growth 78
TABLE 21 SMART LOCK MARKET, BY COMMERCIAL VERTICAL,
2018–2021 (USD MILLION) 78
TABLE 22 SMART LOCK MARKET, BY COMMERCIAL VERTICAL,
2022–2027 (USD MILLION) 78
TABLE 23 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 79
TABLE 24 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 79
TABLE 25 NORTH AMERICA: SMART LOCK MARKET FOR COMMERCIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 79
TABLE 26 NORTH AMERICA: SMART LOCK MARKET FOR COMMERCIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 80
TABLE 27 EUROPE: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 80
TABLE 28 EUROPE: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 80
TABLE 29 APAC: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 81
TABLE 30 APAC: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 81
TABLE 31 ROW: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION, 2018–2021 (USD MILLION) 81
TABLE 32 ROW: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION, 2022–2027 (USD MILLION) 82
TABLE 33 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 82
TABLE 34 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 82
9.3 RESIDENTIAL 83
9.3.1 CONDOMINIUM 83
9.3.1.1 Growing use of smart locks in condominiums or multi-family apartments to prevent invasion, unauthorized access, theft, and burglary to drive market growth 83
9.3.2 INDIVIDUAL HOUSES 83
9.3.2.1 Rising adoption of smart locks by individual house owners to ensure security and safety to drive market growth 83
FIGURE 26 CONDOMINIUM SEGMENT TO HOLD LARGER SHARE OF SMART LOCK MARKET FOR RESIDENTIAL VERTICAL DURING FORECAST PERIOD 83
TABLE 35 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
2018–2021 (USD MILLION) 84
TABLE 36 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
2022–2027 (USD MILLION) 84
FIGURE 27 APAC TO REGISTER HIGHEST CAGR IN SMART LOCK FOR RESIDENTIAL VERTICAL DURING FORECAST PERIOD 84
TABLE 37 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 85
TABLE 38 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 85
TABLE 39 NORTH AMERICA: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 85
TABLE 40 NORTH AMERICA: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 86
TABLE 41 EUROPE: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 86
TABLE 42 EUROPE: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 86
TABLE 43 APAC: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 87
TABLE 44 APAC: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 87
TABLE 45 ROW: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 87
TABLE 46 ROW: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 88
TABLE 47 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 88
TABLE 48 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 88
9.4 INSTITUTIONAL & GOVERNMENT 89
9.4.1 INCREASING DEMAND FOR SMART LOCKS IN GOVERNMENT VERTICAL TO RESTRICT UNAUTHORIZED ENTRIES TO DRIVE MARKET GROWTH 89
TABLE 49 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY REGION, 2018–2021 (USD MILLION) 89
TABLE 50 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY REGION, 2022–2027 (USD MILLION) 89
TABLE 51 NORTH AMERICA: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 90
TABLE 52 NORTH AMERICA: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 90
TABLE 53 EUROPE: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 90
TABLE 54 EUROPE: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 91
TABLE 55 APAC: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 91
TABLE 56 APAC: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 91
TABLE 57 ROW: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY REGION, 2018–2021 (USD MILLION) 92
TABLE 58 ROW: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY REGION, 2022–2027 (USD MILLION) 92
TABLE 59 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY LOCK TYPE, 2018–2021 (USD MILLION) 92
TABLE 60 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY LOCK TYPE, 2022–2027 (USD MILLION) 93
9.5 TRANSPORTATION & LOGISTICS 93
9.5.1 RISING ADOPTION OF BIOMETRICS-BASED ACCESS CONTROL USING SMART LOCKS BY AIRPORT OPERATORS TO DRIVE MARKET GROWTH 93
TABLE 61 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY REGION, 2018–2021 (USD MILLION) 93
TABLE 62 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY REGION, 2022–2027 (USD MILLION) 94
TABLE 63 NORTH AMERICA: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 94
TABLE 64 NORTH AMERICA: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 94
TABLE 65 EUROPE: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 95
TABLE 66 EUROPE: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 95
TABLE 67 APAC: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 95
TABLE 68 APAC: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 96
TABLE 69 ROW: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY REGION, 2018–2021 (USD MILLION) 96
TABLE 70 ROW: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY REGION, 2022–2027 (USD MILLION) 96
TABLE 71 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY LOCK TYPE, 2018–2021 (USD MILLION) 97
TABLE 72 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY LOCK TYPE, 2022–2027 (USD MILLION) 97
9.6 INDUSTRIAL 98
9.6.1 MANUFACTURING 98
9.6.1.1 Increased need for protecting people and properties across manufacturing sites to create growth opportunities for market players 98
9.6.2 OIL & GAS 98
9.6.2.1 Ability of smart locks to provide suitable and enhanced security to fuel their demand in oil & gas vertical 98
9.6.3 ENERGY & POWER 98
9.6.3.1 Rising demand for smart locks in energy and power vertical to prevent unauthorized access to drive market growth 98
TABLE 73 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
2018–2021 (USD MILLION) 98
TABLE 74 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
2022–2027 (USD MILLION) 99
TABLE 75 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 99
TABLE 76 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 99
TABLE 77 NORTH AMERICA: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 100
TABLE 78 NORTH AMERICA: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 100
TABLE 79 EUROPE: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 100
TABLE 80 EUROPE: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 101
TABLE 81 APAC: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 101
TABLE 82 APAC: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 101
TABLE 83 ROW: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 102
TABLE 84 ROW: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 102
TABLE 85 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 102
TABLE 86 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 103
10 SMART LOCK MARKET, BY REGION 104
10.1 INTRODUCTION 105
FIGURE 28 APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 105
TABLE 87 SMART LOCK MARKET, BY REGION, 2018–2021 (USD MILLION) 105
TABLE 88 SMART LOCK MARKET, BY REGION, 2022–2027 (USD MILLION) 106
10.2 NORTH AMERICA 106
FIGURE 29 NORTH AMERICA MARKET SNAPSHOT 107
TABLE 89 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY,
2018–2021 (USD MILLION) 107
TABLE 90 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY,
2022–2027 (USD MILLION) 108
TABLE 91 SMART LOCK MARKET IN NORTH AMERICA, BY VERTICAL,
2018–2021 (USD MILLION) 108
TABLE 92 SMART LOCK MARKET IN NORTH AMERICA, BY VERTICAL,
2022–2027 (USD MILLION) 108
TABLE 93 SMART LOCK MARKET IN US, BY VERTICAL, 2018–2021 (USD MILLION) 109
TABLE 94 SMART LOCK MARKET IN US, BY VERTICAL, 2022–2027 (USD MILLION) 109
TABLE 95 SMART LOCK MARKET IN CANADA, BY VERTICAL, 2018–2021 (USD MILLION) 109
TABLE 96 SMART LOCK MARKET IN CANADA, BY VERTICAL, 2022–2027 (USD MILLION) 110
TABLE 97 SMART LOCK MARKET IN MEXICO, BY VERTICAL, 2018–2021 (USD MILLION) 110
TABLE 98 SMART LOCK MARKET IN MEXICO, BY VERTICAL, 2022–2027 (USD MILLION) 110
10.2.1 US 111
10.2.1.1 US to hold largest share of North American smart lock market 111
10.2.2 CANADA 111
10.2.2.1 Growing awareness regarding internet-based safety and security to drive growth of smart lock market in Canada 111
10.2.3 MEXICO 111
10.2.3.1 Mexico to be lucrative market for smart locks 111
10.3 EUROPE 111
FIGURE 30 EUROPE MARKET SNAPSHOT 112
TABLE 99 SMART LOCK MARKET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 112
TABLE 100 SMART LOCK MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 113
TABLE 101 SMART LOCK MARKET IN EUROPE, BY VERTICAL, 2018–2021 (USD MILLION) 113
TABLE 102 SMART LOCK MARKET IN EUROPE, BY VERTICAL, 2022–2027 (USD MILLION) 113
TABLE 103 SMART LOCK MARKET IN UK, BY VERTICAL, 2018–2021 (USD MILLION) 114
TABLE 104 SMART LOCK MARKET IN UK, BY VERTICAL, 2022–2027 (USD MILLION) 114
TABLE 105 SMART LOCK MARKET IN GERMANY, BY VERTICAL,
2018–2021 (USD MILLION) 114
TABLE 106 SMART LOCK MARKET IN GERMANY, BY VERTICAL,
2022–2027 (USD MILLION) 115
TABLE 107 SMART LOCK MARKET IN FRANCE, BY VERTICAL, 2018–2021 (USD MILLION) 115
TABLE 108 SMART LOCK MARKET IN FRANCE, BY VERTICAL, 2022–2027 (USD MILLION) 115
TABLE 109 SMART LOCK MARKET IN REST OF EUROPE, BY VERTICAL,
2018–2021 (USD MILLION) 116
TABLE 110 SMART LOCK MARKET IN REST OF EUROPE, BY VERTICAL,
2022–2027 (USD MILLION) 116
10.3.1 UK 116
10.3.1.1 Decline in cost of mobile broadband connection and increasing adoption of cloud infrastructure to boost demand for smart locks in UK 116
10.3.2 GERMANY 117
10.3.2.1 Growing adoption of internet-based security systems in various applications to drive market growth in Germany 117
10.3.3 FRANCE 117
10.3.3.1 Growing awareness regarding internet-based home security solutions and rising adoption of wireless portable consumer electronics to drive market growth in France 117
10.3.4 REST OF EUROPE 117
10.4 APAC 117
FIGURE 31 APAC MARKET SNAPSHOT 118
FIGURE 32 CHINA TO HOLD LARGEST SHARE OF APAC SMART LOCK MARKET DURING FORECAST PERIOD 119
TABLE 111 SMART LOCK MARKET IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 119
TABLE 112 SMART LOCK MARKET IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 119
TABLE 113 SMART LOCK MARKET IN APAC, BY VERTICAL, 2018–2021 (USD MILLION) 120
TABLE 114 SMART LOCK MARKET IN APAC, BY VERTICAL, 2022–2027 (USD MILLION) 120
TABLE 115 SMART LOCK MARKET IN CHINA, BY VERTICAL, 2018–2021 (USD MILLION) 120
TABLE 116 SMART LOCK MARKET IN CHINA, BY VERTICAL, 2022–2027 (USD MILLION) 121
TABLE 117 SMART LOCK MARKET IN JAPAN, BY VERTICAL, 2018–2021 (USD MILLION) 121
TABLE 118 SMART LOCK MARKET IN JAPAN, BY VERTICAL, 2022–2027 (USD MILLION) 121
TABLE 119 SMART LOCK MARKET IN SOUTH KOREA, BY VERTICAL,
2018–2021 (USD MILLION) 122
TABLE 120 SMART LOCK MARKET IN SOUTH KOREA, BY VERTICAL,
2022–2027 (USD MILLION) 122
TABLE 121 SMART LOCK MARKET IN INDIA, BY VERTICAL, 2018–2021 (USD MILLION) 122
TABLE 122 SMART LOCK MARKET IN INDIA, BY VERTICAL, 2022–2027 (USD MILLION) 123
TABLE 123 SMART LOCK MARKET IN REST OF APAC, BY VERTICAL,
2018–2021 (USD MILLION) 123
TABLE 124 SMART LOCK MARKET IN REST OF APAC, BY VERTICAL,
2022–2027 (USD MILLION) 123
10.4.1 CHINA 124
10.4.1.1 Increasing industrialization to fuel demand for smart lock systems in China 124
10.4.2 JAPAN 124
10.4.2.1 Rapid industrialization and modernization to create lucrative opportunities for market players in Japan 124
10.4.3 SOUTH KOREA 124
10.4.3.1 Rising demand for remotely managed and connected security devices to drive market growth in South Korea 124
10.4.4 INDIA 125
10.4.4.1 Rise in terrorist activities, crime rate, and data and security breaches to fuel demand for security and safety systems 125
10.4.5 REST OF APAC 125
10.5 ROW 125
TABLE 125 SMART LOCK MARKET IN ROW, BY COUNTRY, 2018–2021 (USD MILLION) 125
TABLE 126 SMART LOCK MARKET IN ROW, BY COUNTRY, 2022–2027 (USD MILLION) 126
TABLE 127 SMART LOCK MARKET IN ROW, BY VERTICAL, 2018–2021 (USD MILLION) 126
TABLE 128 SMART LOCK MARKET IN ROW, BY VERTICAL, 2022–2027 (USD MILLION) 126
TABLE 129 SMART LOCK MARKET IN MIDDLE EAST & AFRICA, BY VERTICAL,
2018–2021 (USD MILLION) 127
TABLE 130 SMART LOCK MARKET IN MIDDLE EAST & AFRICA, BY VERTICAL,
2022–2027 (USD MILLION) 127
TABLE 131 SMART LOCK MARKET IN SOUTH AMERICA, BY VERTICAL,
2018–2021 (USD MILLION) 127
TABLE 132 SMART LOCK MARKET IN SOUTH AMERICA, BY VERTICAL,
2022–2027 (USD MILLION) 128
10.5.1 MIDDLE EAST & AFRICA 128
10.5.1.1 Rising urbanization and increased adoption of IoT-based solutions to boost market growth 128
10.5.2 SOUTH AMERICA 128
10.5.2.1 Growing industrialization to create lucrative opportunities for players in South American market 128
11 COMPETITIVE LANDSCAPE 129
11.1 OVERVIEW 129
11.2 MARKET EVALUATION FRAMEWORK 129
TABLE 133 OVERVIEW OF STRATEGIES DEPLOYED BY KEY SMART LOCK PROVIDERS 129
11.2.1 PRODUCT PORTFOLIO 130
11.2.2 REGIONAL FOCUS 130
11.2.3 MANUFACTURING FOOTPRINT 130
11.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 130
11.3 REVENUE ANALYSIS OF LEADING PLAYERS (2017–2021) 130
FIGURE 33 5-YEAR REVENUE ANALYSIS OF LEADING PLAYERS IN SMART LOCK MARKET 130
11.4 MARKET SHARE ANALYSIS: SMART LOCK MARKET, 2021 131
TABLE 134 DEGREE OF COMPETITION 131
11.5 COMPANY EVALUATION MATRIX 132
11.5.1 STAR 132
11.5.2 EMERGING LEADER 132
11.5.3 PERVASIVE 132
11.5.4 PARTICIPANT 132
FIGURE 34 COMPANY EVALUATION MATRIX, 2021 133
11.6 COMPETITIVE SITUATIONS AND TRENDS 134
11.6.1 PRODUCT LAUNCHES 134
TABLE 135 PRODUCT LAUNCHES, JANUARY 2020–NOVEMBER 2021 134
11.6.2 DEALS 135
TABLE 136 DEALS, JANUARY 2020–FEBRUARY 2022 135
12 COMPANY PROFILES 139
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
12.1 INTRODUCTION 139
12.2 KEY PLAYERS 139
12.2.1 ASSA ABLOY 139
TABLE 137 ASSA ABLOY: BUSINESS OVERVIEW 139
FIGURE 35 ASSA ABLOY: COMPANY SNAPSHOT 140
TABLE 138 ASSA ABLOY: PRODUCT/SOLUTION/SERVICE OFFERINGS 141
TABLE 139 ASSA ABLOY: DEALS 141
12.2.2 DORMAKABA 144
TABLE 140 DORMAKBA: BUSINESS OVERVIEW 144
FIGURE 36 DORMAKABA: COMPANY SNAPSHOT 145
TABLE 141 DORMAKABA: PRODUCT/SOLUTION/SERVICE OFFERINGS 145
TABLE 142 DORMAKABA: DEALS 146
TABLE 143 DORMAKABA: OTHERS 147
12.2.3 SPECTRUM BRANDS 148
TABLE 144 SPECTRUM BRANDS: BUSINESS OVERVIEW 148
FIGURE 37 SPECTRUM BRANDS: COMPANY SNAPSHOT 149
TABLE 145 SPECTRUM BRANDS: PRODUCT/SOLUTION/SERVICE OFFERINGS 149
TABLE 146 SPECTRUM BRANDS: PRODUCT LAUNCHES 150
12.2.4 SALTO SYSTEMS 152
TABLE 147 SALTO SYSTEMS: BUSINESS OVERVIEW 152
TABLE 148 SALTO SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS 152
TABLE 149 SALTO SYSTEMS: PRODUCT LAUNCHES 153
TABLE 150 SALTO SYSTEMS: DEALS 153
TABLE 151 SALTO SYSTEMS: OTHERS 154
12.2.5 ALLEGION 155
TABLE 152 ALLEGION: BUSINESS OVERVIEW 155
FIGURE 38 ALLEGION: COMPANY SNAPSHOT 155
TABLE 153 ALLEGION: PRODUCT/SOLUTION/SERVICE OFFERINGS 156
TABLE 154 ALLEGION: PRODUCT LAUNCHES 156
TABLE 155 ALLEGION: DEALS 157
12.2.6 HONEYWELL 159
TABLE 156 HONEYWELL: BUSINESS OVERVIEW 159
FIGURE 39 HONEYWELL: COMPANY SNAPSHOT 160
TABLE 157 HONEYWELL: PRODUCT/SOLUTION/SERVICE OFFERINGS 160
12.2.7 DAHUA TECHNOLOGY 161
TABLE 158 DAHUA TECHNOLOGY: BUSINESS OVERVIEW 161
FIGURE 40 DAHUA TECHNOLOGY: COMPANY SNAPSHOT 162
TABLE 159 DAHUA TECHNOLOGY: PRODUCT/SOLUTION/SERVICE OFFERINGS 163
TABLE 160 DAHUA TECHNOLOGY: PRODUCT LAUNCHES 163
12.2.8 SAMSUNG 164
TABLE 161 SAMSUNG: BUSINESS OVERVIEW 164
FIGURE 41 SAMSUNG: COMPANY SNAPSHOT 165
TABLE 162 SAMSUNG: PRODUCT/SOLUTION/SERVICE OFFERINGS 165
TABLE 163 SAMSUNG: OTHERS 166
12.2.9 VIVINT 167
TABLE 164 VIVINT: BUSINESS OVERVIEW 167
FIGURE 42 VIVINT: COMPANY SNAPSHOT 167
TABLE 165 VIVINT: PRODUCT/SOLUTION/SERVICE OFFERINGS 168
TABLE 166 VIVINT: DEALS 168
12.2.10 ZKTECO 169
TABLE 167 ZKTECO: BUSINESS OVERVIEW 169
TABLE 168 ZKTECO: PRODUCT/SOLUTION/SERVICE OFFERINGS 169
TABLE 169 ZKTECO: DEALS 170
12.3 OTHER KEY PLAYERS 171
12.3.1 IGLOOCOMPANY 171
12.3.2 REMOTELOCK 172
12.3.3 ONITY 172
12.3.4 MASTER LOCK 173
12.3.5 MIWA LOCK 174
12.3.6 SENTRILOCK 175
12.3.7 AVENT SECURITY 175
12.3.8 HAVENLOCK 177
12.3.9 SHENZHEN VIANS ELECTRONIC LOCK 178
12.3.10 ANVIZ GLOBAL 178
12.3.11 CANDY HOUSE 179
12.3.12 AMADAS 179
12.3.13 KEYWE 180
12.3.14 GATE LABS 180
12.3.15 DESSMANN SCHLIESSANLAGEN 181
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
13 APPENDIX 182
13.1 DISCUSSION GUIDE 182
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 185
13.3 AVAILABLE CUSTOMIZATIONS 187
13.4 RELATED REPORTS 187
13.5 AUTHOR DETAILS 188