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Testing, Inspection and Certification Market with COVID-19 Impact Analysis by Service Type (Testing, Inspection, Certification), Sourcing Type (In-Hou...

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Publication Date:  August, 2021

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1 INTRODUCTION 41
1.1 STUDY OBJECTIVES 41
1.2 MARKET DEFINITION AND SCOPE 41
1.2.1 INCLUSIONS AND EXCLUSIONS 42
1.3 STUDY SCOPE 42
1.3.1 MARKETS COVERED 42
FIGURE 1 TIC MARKET 43
1.3.2 YEARS CONSIDERED 44
1.4 CURRENCY 44
1.5 LIMITATIONS 44
1.6 STAKEHOLDERS 45
1.7 SUMMARY OF CHANGES 45
2 RESEARCH METHODOLOGY 46
2.1 RESEARCH DATA 46
FIGURE 2 RESEARCH DESIGN 46
2.1.1 SECONDARY DATA 47
2.1.1.1 Key data from secondary sources 47
2.1.2 PRIMARY DATA 48
2.1.2.1 Key data from primary sources 48
2.1.2.2 Key industry insights 49
2.1.2.3 Breakdown of primaries 49
2.1.2.4 Key participants in primary processes across TIC value chain 50
2.2 MARKET SIZE ESTIMATION 50
FIGURE 3 PROCESS FLOW OF MARKET SIZE ESTIMATION 51
2.2.1 BOTTOM-UP APPROACH 51
2.2.1.1 Approach for arriving at market size by bottom-up analysis 51
FIGURE 4 TIC MARKET: BOTTOM-UP APPROACH 52
2.2.2 TOP-DOWN APPROACH 52
2.2.2.1 Approach for capturing market size by top-down analysis 52
FIGURE 5 TIC MARKET: TOP-DOWN APPROACH 53
2.2.3 SUPPLY-SIDE ANALYSIS 53
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY MARKET PLAYERS IN TESTING, INSPECTION, AND CERTIFICATION MARKET 53
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 54
FIGURE 7 DATA TRIANGULATION 54
 
2.4 RISK ASSESSMENT 55
TABLE 1 RISKS 55
2.5 LIMITATIONS 55
TABLE 2 STUDY LIMITATIONS 55
2.6 RESEARCH ASSUMPTION 56
TABLE 3 STUDY ASSUMPTIONS 56
3 EXECUTIVE SUMMARY 57
3.1 EXECUTIVE SUMMARY 57
3.2 SCENARIO ANALYSIS 57
FIGURE 8 IMPACT OF COVID-19 ON GLOBAL TIC MARKET 57
3.2.1 REALISTIC SCENARIO (POST-COVID-19) 58
3.2.2 PESSIMISTIC SCENARIO (POST-COVID-19) 58
3.2.3 OPTIMISTIC SCENARIO (POST-COVID-19) 59
FIGURE 9 TIC MARKET, BY SERVICE TYPE, 2021 59
FIGURE 10 TIC MARKET, BY APPLICATION, 2021 VS. 2026 60
FIGURE 11 TIC MARKET SHARE, BY REGION, 2020 61
4 PREMIUM INSIGHTS 62
4.1 INTRODUCTION OF INNOVATIVE TIC SERVICES IN RECENT TIMES HAS HELPED GOVERNMENT AGENCIES TO DISCOURAGE FAKE PRODUCTS 62
FIGURE 12 PRODUCT STANDARDIZATION NORMS AND PENETRATION OF ADVANCED TECHNOLOGIES ACROSS MULTIPLE INDUSTRIES TO LEAD TIC MARKET GROWTH DURING FORECAST PERIOD 62
4.2 TIC MARKET, BY SOURCING TYPE 63
FIGURE 13 IN-HOUSE SERVICES TO HOLD LARGER SHARE OF TIC MARKET THAN OUTSOURCED SERVICES IN 2021 63
4.3 TIC MARKET, BY APPLICATION 63
FIGURE 14 CONSUMER GOODS AND RETAIL APPLICATION TO ACCOUNT FORLARGEST SIZE OF TIC MARKET IN 2021 63
4.4 TIC MARKET, BY MEDICAL AND LIFE SCIENCES APPLICATION 64
FIGURE 15 MEDICAL DEVICES TO CAPTURE LARGEST SIZE OF TIC MARKET FOR MEDICAL AND LIFE SCIENCES APPLICATION IN 2026 64
4.5 TIC MARKET, BY REGION 64
FIGURE 16 APAC TO EXHIBIT HIGHEST CAGR IN TIC MARKET DURING 2021–2026 64
5 MARKET OVERVIEW 65
5.1 INTRODUCTION 65
5.2 VALUE CHAIN ANALYSIS 65
FIGURE 17 VALUE CHAIN ANALYSIS: TIC MARKET 66
 
5.3 MARKET DYNAMICS 67
FIGURE 18 TIC MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 67
5.3.1 DRIVERS 68
5.3.1.1 Increasing focus of manufacturing companies to improve customer retention by offering quality products 68
5.3.1.2 Surging demand for interoperability testing for connected devices and IoT 68
5.3.1.3 Growing indulgence in unlawful trade of counterfeit and flawed pharmaceutical products 69
FIGURE 19 PERCENTAGE OF SEIZED FAKE PHARMACEUTICAL PRODUCTS (2016) 69
5.3.2 RESTRAINTS 70
5.3.2.1 High cost of TIC services due to diverse standards and regulations across different geographies 70
5.3.3 OPPORTUNITIES 71
5.3.3.1 Digital transformation of customer services 71
5.3.3.2 Rapid adoption of breakthrough technologies 71
5.3.4 CHALLENGES 72
5.3.4.1 Adoption of advanced technologies by smaller TIC players 72
FIGURE 20 TIC MARKET: ECOSYSTEM 73
TABLE 4 TIC MARKET: ROLE ACROSS VALUE CHAIN 73
5.4 LIST OF KEY EMERGING/UPCOMING SERVICES 74
TABLE 5 UPCOMING TIC SERVICES 74
5.5 DEMAND-SIDE ANALYSIS 75
5.5.1 MARKET PENETRATION OF KEY SERVICES IN DEMAND POST-COVID 75
FIGURE 21 KEY SERVICES MARKET PENETRATION 75
5.6 LIST OF KEY PLAYERS OFFERING NEW SERVICES 76
FIGURE 22 KEY TIC MARKET PLAYERS WITH NEW OR IMPROVED SERVICE OFFERINGS, 2020 76
5.7 TIC MARKET HOTBEDS, 2026 77
FIGURE 23 TIC MARKET GROWTH AREAS, 2026 77
5.8 REVENUE SHIFT AND NEW REVENUE POCKETS FOR TIC MARKET PLAYERS 77
FIGURE 24 REVENUE SHIFT IN TIC MARKET 77
5.9 REGULATORY BODIES 78
5.10 SERVICE PROVIDERS 78
5.11 END USERS 78
5.12 PORTER’S FIVE FORCES ANALYSIS 78
TABLE 6 PORTER’S FIVE FORCES ANALYSIS WITH THEIR WEIGHTED IMPACT, 2020 79
5.12.1 THREAT OF NEW ENTRANTS 79
5.12.2 THREAT OF SUBSTITUTES 79
5.12.3 BARGAINING POWER OF SUPPLIERS 79
5.12.4 BARGAINING POWER OF BUYERS 80
5.12.5 COMPETITIVE RIVALRY 80
 
5.13 TECHNOLOGY ANALYSIS 80
5.13.1 TIC MARKET 80
5.13.2 SUBSTITUTE TECHNOLOGY 81
5.14 KEY INDUSTRY TRENDS 81
TABLE 7 MAJOR TRENDS IN TIC MARKET 81
5.15 PRICING ANALYSIS 82
TABLE 8 COST ESTIMATION FOR DIFFERENT STAGES OF EMC TESTING 82
5.16 PATENT ANALYSIS 82
TABLE 9 IMPORTANT INNOVATIONS AND PATENT REGISTRATION, 2012–2020 82
5.17 TRADE ANALYSIS 83
5.17.1 EXPORT SCENARIO OF INSTRUMENTS AND APPLIANCES USED IN MEDICAL, SURGICAL, DENTAL, OR VETERINARY SCIENCES 83
FIGURE 25 EXPORT OF INSTRUMENTS AND APPLIANCES USED IN MEDICAL, SURGICAL, DENTAL, OR VETERINARY SCIENCES, 2015–2019 83
TABLE 10 EXPORT SCENARIO FOR HS CODE: 9018-COMPLIANT PRODUCTS, BY COUNTRY, 2015–2019 (USD THOUSAND) 84
5.17.2 IMPORT SCENARIO OF INSTRUMENTS AND APPLIANCES USED IN MEDICAL, SURGICAL, DENTAL, OR VETERINARY SCIENCES 84
FIGURE 26 IMPORT OF INSTRUMENTS AND APPLIANCES USED IN MEDICAL, SURGICAL, DENTAL, OR VETERINARY SCIENCES, 2015–2019 85
TABLE 11 IMPORT SCENARIO FOR HS CODE: 9018-COMPLIANT PRODUCTS, BY COUNTRY, 2015–2019 (USD THOUSAND) 85
5.18 IMPORTANT REGULATIONS IN TIC MARKET 86
5.19 COVID-19 IMPACT ANALYSIS 86
5.19.1 IMPACT ON VALUE CHAIN 86
5.19.1.1 Impact on market 87
5.19.1.2 Expected impact analysis 87
5.19.1.3 Pre- and Post-COVID Impact Analysis 87
5.19.1.3.1 Global COVID Impact Analysis 88
5.19.1.3.2 COVID impact analysis: TIC market in North America 88
FIGURE 27 TIC MARKET IN NORTH AMERICA: IMPACT OF COVID 88
5.19.1.3.3 COVID impact analysis: TIC market in Europe 89
FIGURE 28 TIC MARKET IN EUROPE: IMPACT OF COVID 89
5.19.1.3.4 COVID impact analysis: TIC market in APAC 90
FIGURE 29 TIC MARKET IN APAC: IMPACT OF COVID 90
5.19.1.3.5 COVID impact analysis: TIC market in RoW 91
FIGURE 30 TIC MARKET IN ROW: IMPACT OF COVID 91
5.20 CASE STUDY ANALYSIS 92
5.20.1 PIPELINES AND PLATFORMS 92
5.20.1.1 Applus+ adopted inspection services for its customized remote visual tanks and pipelines 92
5.20.2 STEEL MANUFACTURING 92
5.20.2.1 TÜV SÜD helped manufacturing company with specific inspection services 92
5.20.3 GAS SUPPLIES 92
5.20.3.1 Element provides niche testing and assurance services to Airbus company 92
6 TIC MARKET, BY SERVICE TYPE 93
6.1 INTRODUCTION 94
FIGURE 31 TESTING SERVICES CONTINUE TO DOMINATE TIC MARKET DURING FORECAST PERIOD 95
TABLE 12 TIC MARKET, BY SERVICE TYPE, 2017–2020 (USD BILLION) 95
TABLE 13 TIC MARKET, BY SERVICE TYPE, 2021–2026 (USD BILLION) 96
6.2 TESTING 96
6.2.1 INCREASED NEED TO TEST MEDICAL DEVICES DRIVES DEMAND FOR TESTING SERVICES 96
6.3 INSPECTION 97
6.3.1 ESCALATED DEMAND FOR ESSENTIAL COMMODITIES TO BOOST GROWTH OF MARKET FOR INSPECTION SERVICES 97
6.4 CERTIFICATION 97
6.4.1 PRODUCT MARKETABILITY CAN BE ACHIEVED THROUGH CERTIFICATION SERVICES 97
6.5 OTHERS 98
7 TIC MARKET, BY SOURCING TYPE 99
7.1 INTRODUCTION 100
FIGURE 32 IN-HOUSE TIC SERVICES TO ACCOUNT FOR LARGER MARKET SIZE GLOBALLY IN 2021 100
TABLE 14 TIC MARKET, BY SOURCING TYPE, 2017–2020 (USD BILLION) 101
TABLE 15 TIC MARKET, BY SOURCING TYPE, 2021–2026 (USD BILLION) 101
7.2 IN-HOUSE SERVICES 101
7.2.1 IN-HOUSE TESTING SERVICES WOULD CAPTURE LARGER MARKET SHARE IN COMING YEARS 101
7.3 OUTSOURCED SERVICES 102
7.3.1 MARKET FOR OUTSOURCED SERVICES TO GROW AT HIGHER CAGR CONSIDERING THEIR CONVENIENCE AND ACCURACY 102
8 TIC MARKET, BY APPLICATION 103
8.1 INTRODUCTION 104
FIGURE 33 CONSUMER GOODS AND RETAIL APPLICATION TO HOLD LARGEST SIZE OF TIC MARKET IN 2026 104
TABLE 16 TIC MARKET, BY APPLICATION, 2017–2020 (USD MILLION) 105
TABLE 17 TIC MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 106
8.2 CONSUMER GOODS & RETAIL 107
8.2.1 TIC SERVICES ENSURE SAFETY AND ACCEPTABILITY OF PERSONAL CARE & BEAUTY PRODUCTS 107
8.2.2 PERSONAL CARE & BEAUTY PRODUCTS 107
8.2.3 HARD GOODS 107
8.2.4 SOFTLINES & ACCESSORIES 108
8.2.5 TOYS & JUVENILE PRODUCTS 108
8.2.6 ELECTRICAL & ELECTRONICS 109
8.2.7 OTHERS 110
TABLE 18 TIC MARKET FOR CONSUMER GOODS AND RETAIL APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 111
TABLE 19 TIC MARKET FOR CONSUMER GOODS & RETAIL APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 111
8.3 AGRICULTURE & FOOD 112
8.3.1 CERTIFICATION SERVICES ENSURE HIGH-QUALITY PRODUCTION OF AGRICULTURE AND FOOD PRODUCTS 112
8.3.2 SEEDS & CROPS 112
8.3.3 FERTILIZERS 112
8.3.4 COMMODITIES 112
8.3.5 FOOD 113
8.3.6 MEAT 113
8.3.7 FORESTRY 113
8.3.8 OTHERS 114
TABLE 20 TIC MARKET FOR AGRICULTURE & FOOD APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 115
TABLE 21 TIC MARKET FOR AGRICULTURE & FOOD APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 115
8.4 CHEMICAL 116
8.4.1 STRINGENT REGULATIONS IMPOSED BY GOVERNMENT ON CHEMICAL MANUFACTURING COMPANIES WORLDWIDE HAVE CREATED DEMAND FOR TESTING AND CERTIFICATION SERVICES 116
8.4.2 ASSET INTEGRITY MANAGEMENT SERVICES 116
8.4.3 PROJECT LIFECYCLE SERVICES 116
8.4.4 FINISHED PRODUCT SERVICES 117
8.4.5 CHEMICAL FEEDSTOCK SERVICES 117
8.4.6 OTHERS 117
TABLE 22 TIC MARKET FOR CHEMICAL APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 117
TABLE 23 TIC MARKET FOR CHEMICAL APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 118
8.5 CONSTRUCTION & INFRASTRUCTURE 119
8.5.1 TRANSFORMATION OF CONVENTIONAL PROCESSES TO DIGITAL HAS ENCOURAGED TIC COMPANIES TO INTRODUCE NEWER CONSTRUCTION-RELATED SERVICES 119
8.5.2 PROJECT MANAGEMENT SERVICES 119
8.5.3 MATERIAL SERVICES 119
8.5.4 CONSTRUCTION MACHINERY & EQUIPMENT SERVICES 120
8.5.5 FACILITIES MANAGEMENT & INSPECTION SERVICES 120
8.5.6 OTHERS 121
TABLE 24 TIC MARKET FOR CONSTRUCTION & INFRASTRUCTURE APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 121
TABLE 25 TIC MARKET FOR CONSTRUCTION & INFRASTRUCTURE APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 121
8.6 ENERGY & POWER 122
8.6.1 INCENTIVIZATION ON RENEWABLE ENERGY PROJECTS BY VARIOUS GOVERNMENTS IS FUELLING DEMAND FOR TIC SERVICES TO ENSURE IMPROVED PERFORMANCE OF POWER PLANTS 122
8.6.2 ENERGY SOURCES 122
8.6.2.1 Nuclear 122
8.6.2.2 Wind 122
8.6.2.3 Solar 123
8.6.2.4 Alternative fuels 123
8.6.2.5 Fuel oil & gases 123
8.6.2.6 Coal 123
8.6.3 POWER GENERATION 123
8.6.4 POWER DISTRIBUTION 124
8.6.5 ASSET INTEGRITY MANAGEMENT SERVICES 124
8.6.6 PROJECT LIFECYCLE SERVICES 124
8.6.7 OTHERS 124
TABLE 26 TIC MARKET FOR ENERGY & POWER APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 124
TABLE 27 TIC MARKET FOR ENERGY & POWER APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 125
8.7 INDUSTRIAL & MANUFACTURING 125
8.7.1 QUALITY, SAFETY, AND PERFORMANCE OF PRODUCTS IN INDUSTRIAL AND MANUFACTURING ARE ENSURED USING TIC SERVICES 125
8.7.2 SUPPLIER-RELATED SERVICES 125
8.7.3 PRODUCTION- & PRODUCT-RELATED SERVICES 126
8.7.4 PROJECT-RELATED SERVICES 126
8.7.5 OTHERS 126
TABLE 28 TIC MARKET FOR INDUSTRIAL & MANUFACTURING APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 126
TABLE 29 TIC MARKET FOR INDUSTRIAL & MANUFACTURING APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 127
8.8 MEDICAL & LIFE SCIENCES 127
8.8.1 PANDEMIC HAS OPENED DOORS FOR NEWER AND ADVANCED HEALTHCARE PRODUCTS THAT REQUIRE RIGOROUS TIC SERVICES 127
8.8.2 MEDICAL DEVICES 128
8.8.3 HEALTH, BEAUTY, & WELLNESS 128
8.8.4 CLINICAL SERVICES 129
8.8.5 LABORATORY SERVICES 129
8.8.6 BIOPHARMACEUTICAL & PHARMACEUTICAL SERVICES 129
8.8.7 OTHERS 130
TABLE 30 TIC MARKET FOR MEDICAL & LIFE SCIENCES APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 130
TABLE 31 TIC MARKET FOR MEDICAL & LIFE SCIENCES APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 131
8.9 MINING 131
8.9.1 SAFETY OF LABORERS AND AVOIDANCE OF DANGEROUS ACCIDENTS IS PUSHING DEMAND FOR TIC SERVICES FOR MINING APPLICATIONS 131
8.9.2 INSPECTION & SAMPLING SERVICES 131
8.9.3 ANALYTICAL SERVICES 131
8.9.4 EXPLORATION SERVICES 132
8.9.5 METALLURGY & PROCESS DESIGN SERVICES 132
8.9.6 PRODUCTION & PLANT SERVICES 132
8.9.7 SITE OPERATION & CLOSURE SERVICES 132
8.9.8 PROJECT RISK ASSESSMENT & MITIGATION SERVICES 132
8.9.9 OTHERS 133
FIGURE 34 EXPLORATION SERVICES TO HOLD LARGEST SIZE OF TIC MARKET FOR MINING APPLICATION IN 2021 133
TABLE 32 TIC MARKET FOR MINING APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 134
TABLE 33 TIC MARKET FOR MINING APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 134
8.10 OIL & GAS AND PETROLEUM 135
8.10.1 STRINGENT TESTING AND INSPECTION SERVICES ARE REQUIRED THROUGHOUT OIL & GAS AND PETROLEUM VALUE CHAIN TO AVOID DISCREPANCIES IN QUALITY OF FUEL 135
8.10.2 UPSTREAM 135
8.10.3 DOWNSTREAM 136
8.10.4 BIOFUELS AND FEEDSTOCK 136
8.10.5 PETROCHEMICALS 137
8.10.6 ASSET INTEGRITY MANAGEMENT 137
8.10.7 PROJECT LIFECYCLE 138
8.10.8 OTHERS 138
TABLE 34 TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 138
TABLE 35 TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 139
8.11 PUBLIC SECTOR 139
8.11.1 PRODUCT CONFORMITY ASSESSMENT SERVICES 139
8.11.2 MONITORING SERVICES 140
8.11.3 VALUATION SERVICES 140
8.11.4 OTHERS 140
TABLE 36 TIC MARKET FOR PUBLIC SECTOR APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 140
TABLE 37 TIC MARKET FOR PUBLIC SECTOR APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 141
8.12 AUTOMOTIVE 141
8.12.1 INVESTMENTS IN ELECTRIC VEHICLES AND NEWER TECHNOLOGIES ARE PAVING WAY FOR TIC SERVICES IN AUTOMOTIVE INDUSTRY 141
8.12.2 ELECTRICAL SYSTEMS AND COMPONENTS 142
8.12.3 ELECTRIC VEHICLES, HYBRID ELECTRIC VEHICLES, AND BATTERY SYSTEMS 142
8.12.4 TELEMATICS 142
8.12.5 FUELS, FLUIDS, & LUBRICANTS 143
8.12.6 INTERIOR & EXTERIOR MATERIALS AND COMPONENTS 143
8.12.7 VEHICLE INSPECTION SERVICES (VIS) 143
8.12.8 HOMOLOGATION TESTING 144
8.12.9 OTHERS 144
TABLE 38 TIC MARKET FOR AUTOMOTIVE APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 145
TABLE 39 TIC MARKET FOR AUTOMOTIVE APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 145
8.13 AEROSPACE 146
8.13.1 NEW TIC SERVICES IN AEROSPACE INDUSTRY HAVE HELPED SURVIVE IN TOUGH TIMES DURING COVID PANDEMIC 146
8.13.2 AEROSPACE MANUFACTURING SERVICES 146
8.13.3 AVIATION MANAGEMENT SERVICES 147
8.13.4 OTHERS 148
TABLE 40 TIC MARKET FOR AEROSPACE APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 148
TABLE 41 TIC MARKET FOR AEROSPACE APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 148
8.14 MARINE 149
8.14.1 INTER-TRADE RELATIONS AMONG COUNTRIES WITH STRINGENT IMPORT AND EXPORT REGULATIONS PUSHING DEMAND FOR TIC SERVICES FROM MARINE SECTOR 149
8.14.2 MARINE FUEL SYSTEM AND COMPONENT SERVICES 149
8.14.3 SHIP CLASSIFICATION SERVICES 149
8.14.4 MARINE MATERIAL & EQUIPMENT SERVICES 150
8.14.5 OTHERS 150
TABLE 42 TIC MARKET FOR MARINE APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 150
TABLE 43 TIC MARKET FOR MARINE APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 150
8.15 RAILWAY 151
8.15.1 ENFORCEMENT OF NEW LAWS AND MULTIPLE SAFETY TESTS HAS ENSURED STABLE MARKET SHARE FOR RAIL APPLICATION 151
8.15.2 RAIL CONSTRUCTION & PRODUCTION MONITORING 151
8.15.3 INFRASTRUCTURE MANAGEMENT 151
8.15.4 OTHERS 152
TABLE 44 TIC MARKET FOR RAILWAY APPLICATION, BY TYPE,
2017–2020 (USD MILLION) 152
TABLE 45 TIC MARKET FOR RAILWAY APPLICATION, BY TYPE,
2021–2026 (USD MILLION) 152
8.16 SUPPLY CHAIN & LOGISTICS 153
8.16.1 INSPECTION SERVICES ARE IN DEMAND FOR LOGISTICS AND SUPPLY CHAIN APPLICATIONS 153
8.16.2 PACKAGING & HANDLING 153
8.16.3 RISK MANAGEMENT 153
8.16.4 OTHERS 154
TABLE 46 TIC MARKET FOR SUPPLY CHAIN & LOGISTICS APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 154
TABLE 47 TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 154
8.17 IT AND TELECOM 155
8.17.1 REMOTE WORKING AND WORK FROM HOME OPTIONS INTRODUCED DURING PANDEMIC HAVE INCREASED MARKET SHARE OF IT & TELECOM APPLICATION IN TIC ECOSYSTEM 155
8.17.2 TELECOM & IT INFRASTRUCTURE EQUIPMENT 156
8.17.3 MODULES & DEVICES 156
TABLE 48 TIC MARKET FOR IT & TELECOM APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 156
TABLE 49 TIC MARKET FOR IT & TELECOM APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 156
8.18 SPORTS & ENTERTAINMENT 157
8.18.1 INSPECTION AND CERTIFICATION SERVICES TO BE ADOPTED BY SPORTS & ENTERTAINMENT INDUSTRY TO ENSURE PRODUCT AUTHENTICITY AND SAFETY 157
8.18.2 SPORTS VENUES & FACILITIES 157
8.18.3 SPORTING GOODS & PROTECTIVE EQUIPMENT 158
TABLE 50 TIC MARKET FOR SPORTS & ENTERTAINMENT APPLICATION, BY TYPE, 2017–2020 (USD MILLION) 158
TABLE 51 TIC MARKET FOR SPORTS & ENTERTAINMENT APPLICATION, BY TYPE, 2021–2026 (USD MILLION) 158
9 GEOGRAPHIC ANALYSIS 159
9.1 INTRODUCTION 160
FIGURE 35 GEOGRAPHIC SNAPSHOT: RAPIDLY GROWING COUNTRIES SUCH AS INDIA AND CHINA EMERGING AS POTENTIAL MARKETS 160
FIGURE 36 APAC TO LEAD TIC MARKET DURING FORECAST PERIOD 161
TABLE 52 TIC MARKET, BY REGION, 2017–2020 (USD BILLION) 161
TABLE 53 TIC MARKET, BY REGION, 2021–2026 (USD BILLION) 162
9.2 NORTH AMERICA 163
FIGURE 37 SNAPSHOT OF TIC MARKET IN NORTH AMERICA 163
TABLE 54 TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION) 164
TABLE 55 TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION) 164
TABLE 56 TIC MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2020 (USD MILLION) 164
TABLE 57 TIC MARKET IN NORTH AMERICA, BY APPLICATION, 2021–2026 (USD MILLION) 165
TABLE 58 TIC MARKET IN NORTH AMERICA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 166
TABLE 59 TIC MARKET IN NORTH AMERICA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 166
TABLE 60 TIC MARKET IN NORTH AMERICA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 166
TABLE 61 TIC MARKET IN NORTH AMERICA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 167
9.2.1 US 167
9.2.1.1 Increased investments in next-generation technologies such as artificial intelligence, machine learning, and digital twin 167
TABLE 62 TIC MARKET IN US, BY APPLICATION, 2017–2020 (USD MILLION) 169
TABLE 63 TIC MARKET IN US, BY APPLICATION, 2021–2026 (USD MILLION) 170
TABLE 64 TIC MARKET IN US, BY SERVICE TYPE, 2017–2020 (USD MILLION) 170
TABLE 65 TIC MARKET IN US, BY SERVICE TYPE, 2021–2026 (USD MILLION) 171
TABLE 66 TIC MARKET IN US, BY SOURCING TYPE, 2017–2020 (USD MILLION) 171
TABLE 67 TIC MARKET IN US, BY SOURCING TYPE, 2021–2026 (USD MILLION) 171
9.2.2 CANADA 172
9.2.2.1 High demand for TIC services across consumer goods and retail applications 172
TABLE 68 TIC MARKET IN CANADA, BY APPLICATION, 2017–2020 (USD MILLION) 173
TABLE 69 TIC MARKET IN CANADA, BY APPLICATION, 2021–2026 (USD MILLION) 174
TABLE 70 TIC MARKET IN CANADA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 174
TABLE 71 TIC MARKET IN CANADA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 175
TABLE 72 TIC MARKET IN CANADA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 175
TABLE 73 TIC MARKET IN CANADA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 175
9.2.3 MEXICO 176
9.2.3.1 Huge demand for TIC services by players from automotive and aerospace sectors 176
TABLE 74 TIC MARKET IN MEXICO, BY APPLICATION, 2017–2020 (USD MILLION) 177
TABLE 75 TIC MARKET IN MEXICO, BY APPLICATION, 2021–2026 (USD MILLION) 178
TABLE 76 TIC MARKET IN MEXICO, BY SERVICE TYPE, 2017–2020 (USD MILLION) 178
TABLE 77 TIC MARKET IN MEXICO, BY SERVICE TYPE, 2021–2026 (USD MILLION) 179
TABLE 78 TIC MARKET IN MEXICO, BY SOURCING TYPE, 2017–2020 (USD MILLION) 179
TABLE 79 TIC MARKET IN MEXICO, BY SOURCING TYPE, 2021–2026 (USD MILLION) 179
9.3 EUROPE 180
FIGURE 38 SNAPSHOT OF TIC MARKET IN EUROPE 181
TABLE 80 TIC MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION) 182
TABLE 81 TIC MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION) 183
TABLE 82 TIC MARKET IN EUROPE, BY APPLICATION, 2017–2020 (USD MILLION) 184
TABLE 83 TIC MARKET IN EUROPE, BY APPLICATION, 2021–2026 (USD MILLION) 185
TABLE 84 TIC MARKET IN EUROPE, BY SERVICE TYPE, 2017–2020 (USD MILLION) 185
TABLE 85 TIC MARKET IN EUROPE, BY SERVICE TYPE, 2021–2026 (USD MILLION) 186
TABLE 86 TIC MARKET IN EUROPE, BY SOURCING TYPE, 2017–2020 (USD MILLION) 186
TABLE 87 TIC MARKET IN EUROPE, BY SOURCING TYPE, 2021–2026 (USD MILLION) 186
 
9.3.1 GERMANY 187
9.3.1.1 Industry 4.0 creates opportunities for providers of TIC services for automotive and medical applications across country 187
TABLE 88 TIC MARKET IN GERMANY, BY APPLICATION, 2017–2020 (USD MILLION) 188
TABLE 89 TIC MARKET IN GERMANY, BY APPLICATION, 2021–2026 (USD MILLION) 189
TABLE 90 TIC MARKET IN GERMANY, BY SERVICE TYPE, 2017–2020 (USD MILLION) 189
TABLE 91 TIC MARKET IN GERMANY, BY SERVICE TYPE, 2021–2026 (USD MILLION) 190
TABLE 92 TIC MARKET IN GERMANY, BY SOURCING TYPE, 2017–2020 (USD MILLION) 190
TABLE 93 TIC MARKET IN GERMANY, BY SOURCING TYPE, 2021–2026 (USD MILLION) 190
9.3.2 UK 191
9.3.2.1 Adoption of innovative technologies and implementation of severe regulations will create growth opportunities for TIC market in UK across agriculture and food applications 191
TABLE 94 TIC MARKET IN UK, BY APPLICATION, 2017–2020 (USD MILLION) 192
TABLE 95 TIC MARKET IN UK, BY APPLICATION, 2021–2026 (USD MILLION) 192
TABLE 96 TIC MARKET IN UK, BY SERVICE TYPE, 2017–2020 (USD MILLION) 193
TABLE 97 TIC MARKET IN UK, BY SERVICE TYPE, 2021–2026 (USD MILLION) 193
TABLE 98 TIC MARKET IN UK, BY SOURCING TYPE, 2017–2020 (USD MILLION) 194
TABLE 99 TIC MARKET IN UK, BY SOURCING TYPE, 2021–2026 (USD MILLION) 194
9.3.3 FRANCE 194
9.3.3.1 Pharma industry has seen significant growth in middle of pandemic, thereby fueling demand for TIC services 194
TABLE 100 TIC MARKET IN FRANCE, BY APPLICATION, 2017–2020 (USD MILLION) 196
TABLE 101 TIC MARKET IN FRANCE, BY APPLICATION, 2021–2026 (USD MILLION) 197
TABLE 102 TIC MARKET IN FRANCE, BY SERVICE TYPE, 2017–2020 (USD MILLION) 197
TABLE 103 TIC MARKET IN FRANCE, BY SERVICE TYPE, 2021–2026 (USD MILLION) 198
TABLE 104 TIC MARKET IN FRANCE, BY SOURCING TYPE, 2017–2020 (USD MILLION) 198
TABLE 105 TIC MARKET IN FRANCE, BY SOURCING TYPE, 2021–2026 (USD MILLION) 198
9.3.4 ITALY 199
9.3.4.1 Government efforts to maintain product standards and meet global regulations 199
TABLE 106 TIC MARKET IN ITALY, BY APPLICATION, 2017–2020 (USD MILLION) 200
TABLE 107 TIC MARKET IN ITALY, BY APPLICATION, 2021–2026 (USD MILLION) 201
TABLE 108 TIC MARKET IN ITALY, BY SERVICE TYPE, 2017–2020 (USD MILLION) 201
TABLE 109 TIC MARKET IN ITALY, BY SERVICE TYPE, 2021–2026 (USD MILLION) 202
TABLE 110 TIC MARKET IN ITALY, BY SOURCING TYPE, 2017–2020 (USD MILLION) 202
TABLE 111 TIC MARKET IN ITALY, BY SOURCING TYPE, 2021–2026 (USD MILLION) 202
9.3.5 SPAIN 203
9.3.5.1 Privatization of aerospace industry to create opportunities for TIC players 203
TABLE 112 TIC MARKET IN SPAIN, BY APPLICATION, 2017–2020 (USD MILLION) 204
TABLE 113 TIC MARKET IN SPAIN, BY APPLICATION, 2021–2026 (USD MILLION) 205
TABLE 114 TIC MARKET IN SPAIN, BY SERVICE TYPE, 2017–2020 (USD MILLION) 205
TABLE 115 TIC MARKET IN SPAIN, BY SERVICE TYPE, 2021–2026 (USD MILLION) 206
TABLE 116 TIC MARKET IN SPAIN, BY SOURCING TYPE, 2017–2020 (USD MILLION) 206
TABLE 117 TIC MARKET IN SPAIN, BY SOURCING TYPE, 2021–2026 (USD MILLION) 206
9.3.6 BELGIUM 207
9.3.6.1 Thriving petroleum and chocolate industries to boost TIC market growth in Belgium 207
TABLE 118 TIC MARKET IN BELGIUM, BY APPLICATION, 2017–2020 (USD MILLION) 208
TABLE 119 TIC MARKET IN BELGIUM, BY APPLICATION, 2021–2026 (USD MILLION) 209
TABLE 120 TIC MARKET IN BELGIUM, BY SERVICE TYPE, 2017–2020 (USD MILLION) 209
TABLE 121 TIC MARKET IN BELGIUM, BY SERVICE TYPE, 2021–2026 (USD MILLION) 210
TABLE 122 TIC MARKET IN BELGIUM, BY SOURCING TYPE, 2017–2020 (USD MILLION) 210
TABLE 123 TIC MARKET IN BELGIUM, BY SOURCING TYPE, 2021–2026 (USD MILLION) 210
9.3.7 RUSSIA 211
9.3.7.1 TIC services have demand from food and agriculture industries 211
TABLE 124 TIC MARKET IN RUSSIA, BY APPLICATION, 2017–2020 (USD MILLION) 212
TABLE 125 TIC MARKET IN RUSSIA, BY APPLICATION, 2021–2026 (USD MILLION) 213
TABLE 126 TIC MARKET IN RUSSIA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 213
TABLE 127 TIC MARKET IN RUSSIA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 214
TABLE 128 TIC MARKET IN RUSSIA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 214
TABLE 129 TIC MARKET IN RUSSIA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 214
9.3.8 NETHERLANDS 215
9.3.8.1 Strong focus on innovations leading to product launches, thereby boosting demand for TIC services 215
TABLE 130 TIC MARKET IN NETHERLANDS, BY APPLICATION, 2017–2020 (USD MILLION) 216
TABLE 131 TIC MARKET IN NETHERLANDS, BY APPLICATION, 2021–2026 (USD MILLION) 217
TABLE 132 TIC MARKET IN NETHERLANDS, BY SERVICE TYPE, 2017–2020 (USD MILLION) 217
TABLE 133 TIC MARKET IN NETHERLANDS, BY SERVICE TYPE, 2021–2026 (USD MILLION) 218
TABLE 134 TIC MARKET IN NETHERLANDS, BY SOURCING TYPE, 2017–2020 (USD BILLION) 218
TABLE 135 TIC MARKET IN NETHERLANDS, BY SOURCING TYPE, 2021–2026 (USD BILLION) 218
9.3.9 SWITZERLAND 219
9.3.9.1 Booming consumer goods and retail industries create demand for TIC services 219
TABLE 136 TIC MARKET IN SWITZERLAND, BY APPLICATION, 2017–2020 (USD MILLION) 220
TABLE 137 TIC MARKET IN SWITZERLAND, BY APPLICATION, 2021–2026 (USD MILLION) 221
TABLE 138 TIC MARKET IN SWITZERLAND, BY SERVICE TYPE, 2017–2020 (USD MILLION) 221
TABLE 139 TIC MARKET IN SWITZERLAND, BY SERVICE TYPE, 2021–2026 (USD MILLION) 222
TABLE 140 TIC MARKET IN SWITZERLAND, BY SOURCING TYPE, 2017–2020 (USD MILLION) 222
TABLE 141 TIC MARKET IN SWITZERLAND, BY SOURCING TYPE, 2021–2026 (USD MILLION) 222
 
9.3.10 HUNGARY 223
9.3.10.1 E-commerce industry in Hungary provides growth opportunities to TIC players 223
9.3.11 POLAND 223
9.3.11.1 Technologies such as IoT, cloud computing, and cybersecurity boost TIC market growth in Poland 223
9.3.12 BULGARIA 224
9.3.12.1 Huge potential for manufacturing companies in TIC ecosystem 224
9.3.13 SWEDEN 224
9.3.13.1 Strong focus of Sweden on electronic manufacturing to improve global ranking would foster TIC market growth 224
9.3.14 NORWAY 225
9.3.14.1 Exports and petroleum industries contribute most to improve global ranking of country 225
9.3.15 ROMANIA 225
9.3.15.1 Software and service industries have helped generating employment in Romania 225
9.3.16 AUSTRIA 226
9.3.16.1 Logistics and telecommunications sectors to promote for TIC market growth in Austria 226
9.3.17 TURKEY 227
9.3.17.1 Start-ups and innovative companies from Turkey stimulate demand for TIC services 227
9.3.18 CROATIA 227
9.3.18.1 Developmental strategies adopted to ensure growth of tourism and sports industries in Croatia to create demand for TIC services 227
9.3.19 IRELAND 228
9.3.19.1 Innovative technologies such as digital marketing and industrial robots help Ireland to improve global ranking 228
9.3.20 GREECE 229
9.3.20.1 Strategic location of country helps fishing, mining, and export industries to flourish 229
9.3.21 CZECH REPUBLIC 229
9.3.21.1 Strong focus on widening automotive manufacturing capabilities creates demand for TIC services in Czech Republic 229
9.3.22 LATVIA 230
9.3.22.1 Supply chain and logistics functions help Latvia to stabilize its national economy 230
9.3.23 DENMARK 230
9.3.23.1 Strong membership with international bodies ensure quality products in Denmark 230
9.3.24 LITHUANIA 230
9.3.24.1 Food industry to foster demand for TIC services in Lithuania 230
 
9.3.25 ESTONIA 231
9.3.25.1 Strict norms and import regulations generate need for non-conventional TIC services 231
9.3.26 REST OF EUROPE (ROE) 231
9.4 ASIA PACIFIC 231
FIGURE 39 SNAPSHOT OF TIC MARKET IN APAC 232
TABLE 142 TIC MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION) 233
TABLE 143 TIC MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION) 234
TABLE 144 TIC MARKET IN APAC, BY APPLICATION, 2017–2020 (USD MILLION) 234
TABLE 145 TIC MARKET IN APAC, BY APPLICATION, 2021–2026 (USD MILLION) 235
TABLE 146 TIC MARKET IN APAC, BY SERVICE TYPE, 2017–2020 (USD MILLION) 236
TABLE 147 TIC MARKET IN APAC, BY SERVICE TYPE, 2021–2026 (USD MILLION) 236
TABLE 148 TIC MARKET IN APAC, BY SOURCING TYPE, 2017–2020 (USD MILLION) 236
TABLE 149 TIC MARKET IN APAC, BY SOURCING TYPE, 2021–2026 (USD MILLION) 237
9.4.1 CHINA 237
9.4.1.1 Rapid technological advances and increased demand for medical products foster TIC market growth 237
TABLE 150 TIC MARKET IN CHINA, BY APPLICATION, 2017–2020 (USD MILLION) 238
TABLE 151 TIC MARKET IN CHINA, BY APPLICATION, 2021–2026 (USD MILLION) 239
TABLE 152 TIC MARKET IN CHINA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 239
TABLE 153 TIC MARKET IN CHINA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 240
TABLE 154 TIC MARKET IN CHINA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 240
TABLE 155 TIC MARKET IN CHINA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 240
9.4.2 JAPAN 241
9.4.2.1 Stringent regulatory norms pertaining to food & beverages and telecommunications to ensure safety and security of human beings would fuel demand for TIC services 241
TABLE 156 TIC MARKET IN JAPAN, BY APPLICATION, 2017–2020 (USD MILLION) 242
TABLE 157 TIC MARKET IN JAPAN, BY APPLICATION, 2021–2026 (USD MILLION) 243
TABLE 158 TIC MARKET IN JAPAN, BY SERVICE TYPE, 2017–2020 (USD MILLION) 243
TABLE 159 TIC MARKET IN JAPAN, BY SERVICE TYPE, 2021–2026 (USD MILLION) 244
TABLE 160 TIC MARKET IN JAPAN, BY SOURCING TYPE, 2017–2020 (USD MILLION) 244
TABLE 161 TIC MARKET IN JAPAN, BY SOURCING TYPE, 2021–2026 (USD MILLION) 244
9.4.3 INDIA 245
9.4.3.1 Increased demand for TIC services to test and certify COVID-19 vaccine and medical devices 245
TABLE 162 TIC MARKET IN INDIA, BY APPLICATION, 2017–2020 (USD MILLION) 246
TABLE 163 TIC MARKET IN INDIA, BY APPLICATION, 2021–2026 (USD MILLION) 247
TABLE 164 TIC MARKET IN INDIA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 247
TABLE 165 TIC MARKET IN INDIA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 248
TABLE 166 TIC MARKET IN INDIA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 248
TABLE 167 TIC MARKET IN INDIA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 248
 
9.4.4 SOUTH KOREA 249
9.4.4.1 Huge potential in exports of electronics and medical devices stimulates need for TIC services 249
TABLE 168 TIC MARKET IN SOUTH KOREA, BY APPLICATION, 2017–2020 (USD MILLION) 250
TABLE 169 TIC MARKET IN SOUTH KOREA, BY APPLICATION, 2021–2026 (USD MILLION) 251
TABLE 170 TIC MARKET IN SOUTH KOREA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 251
TABLE 171 TIC MARKET IN SOUTH KOREA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 252
TABLE 172 TIC MARKET IN SOUTH KOREA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 252
TABLE 173 TIC MARKET IN SOUTH KOREA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 252
9.4.5 AUSTRALIA 253
9.4.5.1 Stringent regulations in healthcare and mining industries accelerate growth of Australian TIC market 253
TABLE 174 TIC MARKET IN AUSTRALIA, BY APPLICATION, 2017–2020 (USD MILLION) 254
TABLE 175 TIC MARKET IN AUSTRALIA, BY APPLICATION, 2021–2026 (USD MILLION) 255
TABLE 176 TIC MARKET IN AUSTRALIA, BY SERVICE TYPE, 2017–2020 (USD MILLION) 255
TABLE 177 TIC MARKET IN AUSTRALIA, BY SERVICE TYPE, 2021–2026 (USD MILLION) 256
TABLE 178 TIC MARKET IN AUSTRALIA, BY SOURCING TYPE, 2017–2020 (USD MILLION) 256
TABLE 179 TIC MARKET IN AUSTRALIA, BY SOURCING TYPE, 2021–2026 (USD MILLION) 256
9.4.6 SINGAPORE 257
9.4.6.1 Strict government policies for electric and electronic products push demand for TIC services 257
TABLE 180 TIC MARKET IN SINGAPORE, BY APPLICATION, 2017–2020 (USD MILLION) 258
TABLE 181 TIC MARKET IN SINGAPORE, BY APPLICATION, 2021–2026 (USD MILLION) 259
TABLE 182 TIC MARKET IN SINGAPORE, BY SERVICE TYPE, 2017–2020 (USD MILLION) 259
TABLE 183 TIC MARKET IN SINGAPORE, BY SERVICE TYPE, 2021–2026 (USD MILLION) 260
TABLE 184 TIC MARKET IN SINGAPORE, BY SOURCING TYPE, 2017–2020 (USD MILLION) 260
TABLE 185 TIC MARKET IN SINGAPORE, BY SOURCING TYPE, 2021–2026 (USD MILLION) 260
9.4.7 THAILAND 261
9.4.7.1 Booming telecommunications and manufacturing industries contribute TIC market growth in Thailand 261
TABLE 186 TIC MARKET IN THAILAND, BY APPLICATION, 2017–2020 (USD MILLION) 262
TABLE 187 TIC MARKET IN THAILAND, BY APPLICATION, 2021–2026 (USD MILLION) 263
TABLE 188 TIC MARKET IN THAILAND, BY SERVICE TYPE, 2017–2020 (USD MILLION) 263
TABLE 189 TIC MARKET IN THAILAND, BY SERVICE TYPE, 2021–2026 (USD MILLION) 264
TABLE 190 TIC MARKET IN THAILAND, BY SOURCING TYPE, 2017–2020 (USD MILLION) 264
TABLE 191 TIC MARKET IN THAILAND, BY SOURCING TYPE, 2021–2026 (USD MILLION) 264

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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1 User License $4,950

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