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U.S. Smart Lock Market Outlook & Forecast 2021-2026: Increasing Number of Smart Homes / Growth in Commercial and Industrial Sector / Emergence of New Technologies (IoT& AI/ML)

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Dublin, June 24, 2021 (GLOBE NEWSWIRE) — The “U.S. Smart Lock Market – Industry Outlook & Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.

The U.S. smart lock market by revenue is expected to grow at a CAGR of approx. 12% during the period 2020-2026.

Increasing safety concerns, growing home automation, rising awareness of IoT, and growing industrial and commercial sectors will boost the U.S. smart lock market growth. Millennials in the United States are highly inclined toward home automation and are willing to pay a premium for advanced products.

With the increased internet and smartphone penetration, the smart lock market is likely to observe considerable growth during the forecast period due to the high adoption of these intelligent technologies in several end-users such as educational institutions, hospitals, government offices.

Moreover, to prevent invasion and unauthorized access, the market is likely to observe a substantial expansion in demand from households. Smart city initiatives by the US government and the growing focus on adopting intelligent technology for better living standards, provide huge growth potential to innovative lock vendors.

U.S. SMART LOCK MARKET SEGMENTATION

The U.S. smart lock market research report includes a detailed segmentation by lock type, communication technology, authentication method, component, end-user. Due to the high convenience, the deadbolt segment expects to emerge as the leading revenue contributor in the U.S. smart lock market. It is likely to grow significantly during the forecast period.

However, lever handle locks expect to grow at a CAGR of 10.76% due to the growth of the commercial sector and the growing adoption of inner doors in hotels and residential houses. The market expects to face certain hindrances as they are comparatively challenging to install, thereby hampering its share in the market. Growing concerns over safety and security due to the rising number of theft and burglary cases in both residential and industrial sectors lead to the demand for smart padlocks. The US padlock market expects to reach USD 376.46 million by 2026.

Bluetooth intelligent locks, holding a share of over 36%, leading the US smart lock market, followed by Wi-Fi smart locks with a share of approx. 30%. The high revenue share of Bluetooth technology is attributed to the longer battery life than Wi-Fi and high-energy efficiency. The market for Wi-Fi-controlled locking systems expects to grow faster than others. High smartphone penetration, increased adoption of new technology, increasing technological advancement such as the Internet of Things (IoT), machine learning, and other benefits are likely to lead to the demand for Bluetooth locking systems in the US.

The U.S. smart lock market by component can be segregated into hardware, software, and services. Hardware is the physical component of smart locks and consists of microcontroller units, Bluetooth transmitters, and smartphones. The increased application of smart devices in new construction projects and the growing penetration of smartphones are likely to drive the growth of the hardware segment. Exponential growth observed in intelligent machines with the advent of IoT is likely to disrupt the software intelligent lock market. Smart devices show a strong inclination toward interconnected software solutions to increase convenience and adoption in the population.

In terms of authentication methods, PIN/Code smart locks are leading the market in the US, holding a share of over 47%. The high demand for biometric, PIN/Code and RFID-based locking systems comes from the residential sector and followed by the commercial sector. The RFID card is the fastest-growing segment and is expected to grow at the CARG of over 14% during the forecast period 2021-2026. The high adoption of IoT, machine learning, and artificial intelligence technology in the US and continuous innovations for unlocking the door generate better opportunities for the market’s growth.

Most of the US population is working professionals and mostly stay in the office, leading to the rising demand for smart keyless locks. All intelligent lock functions subject to substantial risks. A certain number of people are doubtful with respect to the reliability of smart door locks. Privacy and hacking challenges associated with these systems are likely to pose challenges to the growth of the market, thereby hampering the overall smart lock market.

Continuous growth in the residential sector in several US states is pushing the demand for smart locks. The growing real estate sector is adding to the demand for smart locks. The demand for single-family homes is growing, leading to rapid growth in the construction of a new single-family home in the US. The demand for Wi-Fi locking systems is growing rapidly in the residential sector due to their convenience in terms of accessibility.

INSIGHTS BY GEOGRAPHY

The adoption of smart technology in the US remains high. The increasing safety concern regarding home leads to the rise in demand for intelligent locks as they help prevent unauthorized access. The hospitality industry provides promising growth opportunities to smart lock vendors as most premium hotels deploy intelligent locks to provide convenience and safety to customers.

Government initiatives toward smart cities influence and drive people toward technology-driven products, thereby leading to the high demand for internet-based solutions. WI-FI-enabled locking systems are popular in the US population as they offer several benefits, including convenience. Hence, the demand for Wi-Fi systems expects to grow during the forecast period.

Premium hotels are the primary users of these systems to provide safety and security to their guests. The increasing number of hotels in the US offers high growth opportunities to vendors in the market. The COVID-19 pandemic has a major impact on the market as most smart lock technology companies are situated in the US.

INSIGHTS BY VENDORS

The US has a moderate number of large players and several small players operating in the smart lock market. Honeywell, Latch, and Master Lock are a few major players in the market. The players are increasingly focusing on developing innovative products and expanding their product portfolios by making huge investments in R&D.

Although established players dominate the market, growth opportunities for other new entrants also exist as they target the developing end-markets or cities by producing low-cost products. The competitive intensity of the market is higher in Western and Southern parts of the US due to the large number of smart homes boosting the demand for smart locks.

Prominent Vendors

  • Honeywell
  • Latch
  • Master Lock
  • Onity

Other Prominent Vendors

  • Altro Smart
  • Baldwin Hardware
  • Gate Labs
  • Hampton
  • Level
  • Lockly
  • SimpliSafe
  • U-tec

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Components of Smart Lock
7.3 Vendor Analysis
7.4 Industry FAQ
7.4.1 How will the US smart lock market perform in the coming years?
7.4.2 Which is the fastest-growing and most preferred communication technology segment in the market?
7.4.3 Which smart lock type segment has the highest revenue share and fastest growth in the market?
7.4.4 Which end-user segment generates the highest revenue for smart lock vendors operating in the US?
7.4.5 Which authentication method has the highest demand in the market?
7.5 Impact Of COVID-19

8 Market Opportunities & Trends
8.1 Increasing Number of Smart Homes
8.2 Growth in Commercial and Industrial Sector
8.3 Emergence of New Technologies (IoT& AI/ML)

9 Market Growth Enablers
9.1 Growing Adoption Of 5G And Smartphone Penetration
9.2 High Disposable Income
9.3 Increasing Demand For Safety And Convenience

10 Market Restraints
10.1 Perception of Unreliability
10.2 Vulnerable to Security Issues

11 Market Landscape
11.1 Market Overview
11.2 Demand Insights
11.3 Market Size & Forecast
11.4 Five Forces Analysis

12 Component
12.1 Market Overview
12.2 Hardware
12.3 Software
12.3.1 Market Overview
12.3.2 Visitor Management
12.3.3 Security Management
12.4 Services

13 Lock Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Deadbolt
13.4 Lever Handle
13.5 Padlock

14 Communication Technology
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Bluetooth
14.4 WI-FI
14.5 Zigbee And Z-Wave
14.6 Other Communication Technology
14.6.1 NFC (Near Field Communication): Market Overview
14.6.2 Thread : Market Overview
14.6.3 Market Size & Forecast
14.6.4 Market By Geography

15 Authentication Method
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Pin/Code
15.4 Biometric
15.5 RFID Card

16 End-User
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Residential
16.4 Commercial
16.4.1 Market Overview
16.4.2 Healthcare
16.4.3 Hospitality
16.5 Institution and Government
16.6 Industrial

For more information about this report visit https://www.researchandmarkets.com/r/67ewwz


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Artificial Intelligence

Northern Data Group platform, Peak Mining, announces purchase of a second 300MW data center location in Corpus Christi, Texas

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The location expands on an adjacent 300MW site, purchased in December 2023 The site comes with an ERCOT-approved interconnect of 300MWConstruction already underway, with long-lead time items secured and energization scheduled for early 2025FRANKFURT, Germany, May 24, 2024 /PRNewswire/ — Peak Mining, part of the Northern Data Group , announces the purchase of a second 300MW ERCOT-approved site in Corpus Christi, Texas. The location is adjacent to the 300MW mining facility that is already under construction. The site also provides energy in the attractive low-cost power zone of Load Zone South of the ERCOT grid, known for its abundance of renewable (wind) energy.

The investment represents a significant step forward in Northern Data Group’s investment strategy, cementing expansion plans well beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate its expansion plans to become one of the largest bitcoin miners globally. The company will be deploying indoor, custom-designed, fully-integrated and liquid-cooled HPC data center systems to drastically improve deployment time and infrastructure cost, bringing Peak Mining to a leading position in the industry and preparing it for the future of HPC compute.
Saxet Infrastructure Group (“Saxet”) will act as construction manager for the design, build and energization of the substation. The Saxet team brings a strong track record of project management and deep expertise with the construction of HPC infrastructure.
Niek Beudeker, Managing Director of Northern Data Group Platform, Peak Mining, commented:
“The purchase of this second large site will significantly shorten our time to hashing and kick off one of the fastest mining expansions globally. We now have almost 700MW of sites in active development, that when fully fitted with our latest-generation hardware, could potentially provide up to 40EH of hash rate.”
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:
“This second data center location demonstrates how Northern Data Group is able to harness the power and opportunity of HPC. Sustainability has been at the core of this further expansion into the US and thanks to the center’s ERCOT approved status, we will be able to scale our operations at speed, as the demand for digital assets continues to grow.”
Steven Quisenberry, Chief Executive Officer at Saxet Infrastructure Group, commented: 
We are excited to support Northern Data Group’s expansion in the ERCOT market and specifically to welcome them to the Corpus Christi area.  The combination of base load industrial demand and significant renewable resources creates a unique opportunity for their portfolio.  This is a terrific example of one of the largest, most advanced liquid cooled data centers in North America and we are proud to partner with Northern Data Group to bring their data center online.
Northern Data Group was advised on the transaction by Katten Muchin Rosenman LLP (Legal Counsel) and BitOoda Technologies LLC.
About Peak Mining
Peak Mining, part of the Northern Data Group, is powering the future of the blockchain network.  We deliver industry-leading operating and energy efficiency in bitcoin mining through the latest hardware alongside innovative technology and infrastructure. With our mining heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to power the mining network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.  

View original content:https://www.prnewswire.co.uk/news-releases/northern-data-group-platform-peak-mining-announces-purchase-of-a-second-300mw-data-center-location-in-corpus-christi-texas-302154571.html

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Artificial Intelligence

Omnicom Media Group Expands Its Partnership with Lumen, Further Advancing Attention-Based Planning Capabilities Across Its Regions

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LONDON, May 24, 2024 /PRNewswire/ — Omnicom Media Group (OMG) the media services division of leading global marketing and corporate communications holding company Omnicom Group Inc (NYSE: OMC) is expanding its market intelligence relationship with leading attention research company Lumen to now include data integration.

Under the terms of the agreement, attention data from the Lumen’s Attention Measurement Platform – which includes expected average viewing time and attentive seconds per thousand impressions – will be integrated into channel planning tools and processes within Omni, the open operating system that supports all Omnicom agencies. The addition of the Lumen attention benchmarks further advances OMG’s industry-leading attention-based planning capabilities, adding additional depth and breadth of insights to the existing attention datasets within Omni that enable attention to be leveraged as a KPI for media decisioning and creative optimization across OMG agencies OMD, PHD and Hearts & Science.
Over the past eight years, OMG has partnered with Lumen and other leading experts in attention measurement on hundreds of studies involving over 640,000 individuals worldwide, collecting nuanced attention benchmarks that offer invaluable insight into how content is consumed across various devices, channels, platforms, and formats. Activated within Omni, these datasets have enabled more precise channel selection tailored to the attention needs of individual campaigns.
“With the addition of the Lumen data, planning teams across OMG will have greater visibility into the attention value that each channel and format generates for their clients, ensuring optimal delivery of the right level of attention based on brand, brief and budget,” says OMG EMEA CEO Dan Clays.
Adds Mike Follett, CEO of Lumen, “The combination of Lumen’s attention data with OMG’s best-in-class Omni channel planning capabilities translates to a significant leap forward in leveraging attention to drive better outcomes for marketers.” 
About Omnicom Media Group  Omnicom Media Group (OMG), the media services division of Omnicom Group Inc. (NYSE: OMC), delivers transformational experiences for consumers, clients, and talent. Powered by the Omni marketing orchestration system, OMG connects best-in-class capabilities that enable our full-service media agencies OMD, PHD and Hearts & Science to deliver more relevant and actionable consumer experiences; more productive and proactive client experiences; and more collaborative and rewarding talent experiences for the more than 24,000 people serving the world’s leading brands in OMG agencies around the globe.
About Lumen ResearchLumen is the world’s leading attention technology company, with large-scale biometric datasets based on real-world and predictive eye-tracking technology that helps brands and agencies plan, buy and optimise media campaigns on the basis of human attention with creative, programmatic, and measurement solutions. Founded in 2013, Lumen is headquartered in London with offices in New York and LA.

View original content:https://www.prnewswire.co.uk/news-releases/omnicom-media-group-expands-its-partnership-with-lumen-further-advancing-attention-based-planning-capabilities-across-its-regions-302154915.html

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Artificial Intelligence

Picus Security Launches Security Validation for Kubernetes

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Teams can eliminate container security exposures with the new enhancements in Picus’ platform for multi-cloud
SAN FRANCISCO, May 23, 2024 /PRNewswire/ — Picus Security, the Security Validation company, today announced security validation for Kubernetes. This new capability allows Security and DevOps teams to realize the benefits of containers securely by proactively measuring and optimizing the resilience of clusters. It is the latest innovative addition to the Picus Security Validation Platform, which empowers users to consistently validate their security posture and measure risk across on-premises and multi-cloud environments.

For organizations that want an agile way to deploy, run and scale applications, Kubernetes offers considerable benefits. However, security is often the biggest barrier to its adoption. The dynamic and complex nature of Kubernetes means that containers are often misconfigured due to human error. Without a hands-on approach to governance, security gaps can easily emerge over time, increasing the risk of incidents. This situation is exacerbated by the high level of expertise required to secure Kubernetes and the use of default settings which are inherently insecure. According to The State of Kubernetes Report, more than two-thirds of Kubernetes users (67%) have delayed deployments due to security concerns.* 
The addition of Kubernetes validation extends the Picus platform’s existing validation capabilities, which are powered by attack simulation and GenAI. It enables organizations to proactively identify and mitigate security misconfigurations, such as weak policies and settings that could allow containers to run with insecure privileges and facilitate lateral movement. Now security teams can automatically assess the security of their workloads wherever they are located – on-premises, in containers, and also in cloud platforms including Amazon Web Services, Google Cloud Platform, and Microsoft Azure.
“Cloud security is perhaps the biggest barrier of entry for organizations that want to take advantage of container orchestration,” said Volkan Erturk, Picus CTO and Co-Founder. “Kubernetes offers incredible opportunities for DevOps teams to deploy and scale new applications, but Security teams can struggle to keep pace.
“With the Picus Security Validation Platform, security concerns won’t slow down an organization’s digital transformation journey. This new offering will allow our users to consistently measure the security of their workloads and vastly reduce the effort needed to address exposures across growing IT environments.”
Additional Information
Read the Kubernetes validation announcement blog.Register for the upcoming webinar on July 11th 2024 at 10.00 EST/ 15.00 BST: Beyond Cloud Security Posture Management: Validating Cloud Effectiveness with Attack Simulation About Picus Security
Picus Security helps security teams consistently and accurately validate their security posture. Our Security Validation Platform simulates real-world threats to evaluate the effectiveness of security controls, identify high-risk attack paths to critical assets, and optimize threat prevention and detection capabilities.
As the pioneer of Breach and Attack Simulation, we specialize in delivering the actionable insights our customers need to be threat-centric and proactive. 
Picus is a Gartner® Peer Insights™ Customers’ Choice for 2024 in the BAS tools category†. The company is recognized as a leader by Frost & Sullivan^.
† Gartner, Voice of the Customer for Breach and Attack Simulation Tools, Peer Contributors, 30 January 2024 ^ Frost and Sullivan, 2022 Frost Radar™ report for the Global Breach and Attack Simulation Market
Logo: https://mma.prnewswire.com/media/2183222/4724563/Picus_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/picus-security-launches-security-validation-for-kubernetes-302154775.html

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