Middle East becoming an important market for smart lock industry

22 Jun Middle East becoming an important market for smart lock industry

 

The Middle East region is fast becoming an important market for the smart lock industry. According to research by Frost and Sullivan, the Middle East and Africa (MEA) region access control market is expected to grow to 15 per cent annually up to 2018, when it will reach nearly US$ 500 million.

This double-digit growth is driven by increasing infrastructure spending in the region, with wireless locks, IP-enabled devices and iris detection systems among the latest access control technologies.

“The world is turning digital at an unprecedented pace, with smart homes quickly emerging as the new cornerstone of connected living. We are expecting connected smart locks to become a natural part of people’s everyday life in the near future,” said Sherry Zameer, senior vice president IoT solutions for the CISMEA region at Gemalto.

The company has just teamed up with global smart lock manufacturer,  Dessmann to provide security for its new smart lock platform. The new solution  incorporates Gemalto’s Machine Identification Modules (MIM) and Secure Elements (SE), so users can lock and unlock doors with their smartphones or create digital key chains for multiple locks.

The solution is said to provide increased security compared to traditional locks. The mobile app can be used to create spare or temporary virtual keys remotely and can simplify shared accommodation services. For instance, it is able to track and monitor who unlocked a door recently. The application also sends instant notifications if a door is forced and can automatically trigger the lock’s built-in alarm.

The global smart lock market is likely to expand rapidly over the next few years. According to Transparency Market Research, its compound annual growth rate is estimated to reach up to 18.3%, leading to a substantial increase in market value, from US$226.7 million in 2016 to US$1.01 billion by 2024.

http://www.gemalto.com

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