Global Smart Lock Market: Industry Analysis and Forecast (2021-2027) by Lock type, Communication protocol, Vertical and Region.

Global Smart Lock Market was worth US$ 1.38 Bn. in 2020 and total revenue is expected to grow at a rate of 21.4 % CAGR from 2021 to 2027, reaching almost US$ 5.36 Bn. in 2027.

Global Smart Lock Market Overview:

Smart locks come in a variety of keyways, which defines what kind of key you can use. Smart locks are created in such a way that the user's motion is filmed by the camera, the user is recognized, and only he is given a key to lock and unlock the door. As a replacement for the historical key system, a digital door lock system employs digital information as a smart card and finger prints as the authentication procedure. To strengthen the system's security, the mobile device requires a password. A microcontroller controls a linear actuator that functions as the locking mechanism on the door's hardware. Smart home architecture, which incorporates features such as remote access, voice control, and seamless communication, is accelerating the adoption of smart locks for residential properties around the world. Residential owners have also been enticed by the elimination of the need to carry mechanical keys around. Global Smart Lock Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region.

Global Smart Lock Market Dynamics:

In comparison to 2019, the number of people using a smartphone has increased by almost 10% in 2020. As a result of this growing usage, people have become increasingly reliant on smartphones and mobile apps to complete important jobs. Various novel techniques, including as Wi-Fi-enabled locking/unlocking and Bluetooth-based (BLE) locking/unlocking using smartphones and other devices, are incorporated by prominent industry players in smart lock models. Touch panels are also being used to make password entering and pattern-based locking/unlocking easier. A rise in smart home usage around the world, as well as an influx of entrepreneurs inventing unique home automation technology, has increased the demand for smart locks. Manufacturers are integrating their goods with voice assistants as the number of households with these devices grows, providing voice control of the locks. Smart locks are in high demand in the residential sector around the world. The sector has gained great potential in recent years due to a spike in new installations, with an increasing number of renovations and new building activities across Asia Pacific and North America. The lock becomes the most visible piece in a connected house when it is connected to a smart home hub. As a result, buyers seek goods that meet all of their needs, and they weigh important variables like battery life, size, style, and pricing when choosing a lock. Smart locks are more well-known among consumers in higher-income groups and in urban regions. It is powered by a built-in door sensor. Because of the advent of creative locking/unlocking mechanisms via smartphones, tablets, key fobs, and other portable devices, smart locks are likely to see enormous development prospects, particularly in cloud-based locking management solutions. Continuous development and implementation of advanced technologies to quickly access locking features, such as Z-wave/ZigBee, Near Field Communication (NFC), and Bluetooth Low Energy (BLE), is projected to draw a prospective consumer base. Major restraints are rising costs and high market prices.

Global Smart Lock Market Segment Analysis:

Smart Lock Market is segmented into Lock type, Communication protocol and vertical. Based on Lock Type, the market is sub-segment into Deadbolts, Lever Handles, Padlocks and Other Locks. The deadbolt segment had the major revenue share of around 47% in 2020, and it is expected to lead the industry during the forecast period. The significant income generation can be ascribed to its increasing adoption in the residential sector due to several advantages such as ease of use and a long-lasting locking mechanism. Well-known firms in the industry, such as Kwikset, are expanding their product line to include innovative deadbolts with built-in features such as low battery warning, one-touch locking, and configurable user codes, resulting in a large user base. Because of the high expansion in the construction sector, lever handles are predicted to rise at the quickest CAGR of over 23.0% throughout the projection period. Modernization operations in the hotel sector to meet visitor security needs are also predicted to boost the segment's growth. In commercial contexts, smart lever handles are often employed in interior doors. Due to the push-down style handle rather than a knob, which involves grabbing and turning, they have simple locking/unlocking processes as compared to their competitors. Global Smart Lock MarketBased on Vertical, the market is sub-segment into Commercial, Residential, Institution & Government and Industrial. In 2020, the residential segment led the smart lock market, accounting for more than 65 % of sales. Over the next seven years, it is likely to maintain its supremacy. Its substantial revenue production can be ascribed to expanding worldwide smart home penetration as well as an increase in new and refurbishment projects across the sector in recent years. Increased affordability of advanced security solutions, such as door and window opening sensors, motion detectors, and remote door locking/unlocking, is likely to propel use even further. The development of locks that are compatible with ZigBee, Z-Wave, and BLE technologies. Global Smart Lock Market

Global Smart Lock Market Regional Insights:

North America, with a market share of over 42% in 2020, is likely to maintain its dominance during the forecast period. This is primarily due to widespread technology use and the increasing penetration of smart homes in the United States. According to a Grand View Research, nearly 30% of internet households in the United States want to get a smart lock by the end of 2021. Customers' high spending power combined with growing security concerns, particularly in critical infrastructure and residential applications, has resulted in a favorable regulatory environment for their adoption. From 2021 to 2028, Asia Pacific is expected to be the fastest-growing region, with a CAGR of more than 24%. The huge increase can be linked to an increase in the number of residential and commercial constructions, as well as ongoing smart city initiatives in developing countries like India. Furthermore, smart home penetration has increased significantly across the region, which is playing an important role in raising awareness about innovative devices and technologies. Government regulations in nations such as Australia, on the other hand, need further product innovation and modification, which is predicted to be a difficult hurdle to overcome. The objective of the report is to present a comprehensive analysis of the global Smart Lock market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Smart Lock market dynamics, structure by analyzing the market segments and project the global Smart Lock market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Smart Lock market make the report investor’s guide.

Global Smart Lock Market Scope: Inquire before buying

Global Smart Lock Market

Global Smart Lock Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Smart Lock Market key player

Spectrum Brands Holdings, Inc. • Onity, Inc. • Master Lock Company LLC • August Home • Schlage • Honeywell International Inc. • Panasonic Corporation • Vivint, Inc. • ASSA ABLOY AB • UniKey Technologies Inc. • Haven Lock, Inc. • August Home • Samsung SDS Co. Ltd. • Allegion plc • Salto Systems S.L. • Cansec Systems Ltd. • GANTNER Electronic GmbH • MIWA Lock Co. • SentriLock, LLC • Avent Security

Frequently Asked Questions:

1) What was the market size of Global Smart Lock Market markets in 2020? Ans - Global Global Smart Lock Market was worth US$ 1.38 Bn in 2020. 2) What is the market segment of Global Smart Lock Market? Ans -The market segments are based on Lock type, Communication protocol and vertical. 3) What is forecast period consider for Global Smart Lock Market? Ans -The forecast period for Global Smart Lock Market is 2021 to 2027. 4) What is the market size of Global Smart Lock Market markets in 2027? Ans – Global Smart Lock Market is estimated as worth US$ 5.36 Bn in 2027. 5) Which region is dominated in Global Smart Lock Market MarketMarket? Ans -In 2020, North America region dominated the Global Smart Lock Market.

Global Smart Lock Market

1. EXECUTIVE SUMMARY 2. RESEARCH METHODOLOGY 2.1. Market Definition 2.2. Market Scope 2.3. Data Sources 3. MARKET DYNAMICS 3.1. Market Drivers 3.2. Market Restraints 3.3. Market Opportunities 4. END-USER OVERVIEW 4.1. Value Chain Analysis 4.2. Key Trends 5. GLOBAL SMART LOCK MARKET, BY LOCK TYPE (2019-2026) 5.1. Introduction 5.2. Smart Lock, by Deadbolts 5.2.1. Deadbolts Market Overview 5.2.2. Deadbolts Market Size & Forecast 5.3. Smart Lock, by Lever Handles 5.3.1. Lever Handles Market Overview 5.3.2. Lever Handles Market Size & Forecast 5.4. Smart Lock, by Padlocks 5.4.1. Padlocks Market Overview 5.4.2. Padlocks Market Size & Forecast 5.5. Smart Lock, by Other Locks 5.5.1. Other Locks Market Overview 5.5.2. Other Locks Market Size & Forecast 6. GLOBAL SMART LOCK, BY COMMUNICATION PROTOCOL (2019-2026) 6.1. Introduction 6.2. Smart Lock, by Bluetooth 6.2.1. Bluetooth Smart Lock Market Overview 6.2.2. Bluetooth Smart Lock Market Size & Forecast 6.3. Smart Lock, by Wi-Fi 6.3.1. Wi-Fi Smart Lock Market Overview 6.3.2. Wi-Fi Smart Lock Market Size & Forecast 6.4. Smart Lock, by Other Protocol 6.4.1. Other Protocol Market Overview 6.4.2. Other Protocol Market Size & Forecast 7. GLOBAL SMART LOCK MARKET, BY VERTICALS (2019-2026) 7.1. Introduction 7.2. Smart Lock Market, by Commercial 7.2.1. Commercial Smart Lock Market Overview 7.2.2. Commercial Smart Lock Market Size & Forecast 7.3. Smart Lock Market, by Residential 7.3.1. Residential Smart Lock Market Overview 7.3.2. Residential Smart Lock Market Size & Forecast 7.4. Smart Lock Market, by Institution & Government 7.4.1. Institution & Government Smart Lock Market Overview 7.4.2. Institution & Government Smart Lock Market Size & Forecast 7.5. Smart Lock Market, by Industrial 7.5.1. Industrial Smart Lock Market Overview 7.5.2. Industrial Smart Lock Market Size & Forecast 8. SMART LOCK MARKET, BY GEOGRAPHY (2019-2026) 8.1. North America Smart Lock Market 8.1.1. North America Smart Lock Market, by Lock Type 8.1.2. North America Smart Lock Market, by Communication Proto-call 8.1.3. North America Smart Lock Market, by Applications 8.1.4. North America Smart Lock Market, by Countries 8.1.4.1. U.S. Smart Lock Market 8.1.4.2. Canada Smart Lock Market 8.1.4.3. Rest of North America Smart Lock Market 8.2. Europe Smart Lock Market 8.2.1. Europe Smart Lock Market, by Lock Type 8.2.2. Europe Smart Lock Market, by Communication Proto-call 8.2.3. Europe Smart Lock Market, by Verticals 8.2.4. Europe Smart Lock Market, by Countries 8.2.4.1. France Smart Lock Market 8.2.4.2. Germany Smart Lock Market 8.2.4.3. U.K .Smart Lock Market 8.2.4.4. Rest of Europe Smart Lock Market 8.3. Asia Pacific Smart Lock Market 8.3.1. Asia-Pacific Smart Lock Market, by Lock Type 8.3.2. Asia-Pacific Smart Lock Market, by Communication Proto-call 8.3.3. Asia-Pacific Smart Lock Market, by Verticals 8.3.4. Asia-Pacific Smart Lock Market, by Countries 8.3.4.1. China Smart Lock Market 8.3.4.2. Japan Smart Lock Market 8.3.4.3. India Smart Lock Market 8.3.4.4. Australia Smart Lock Market 8.3.4.5. South Korea Smart Lock Market 8.3.4.6. Rest of Asia Pacific Smart Lock Market 8.4. Middle East & Africa Smart Lock Market 8.4.1. Middle East & Africa Smart Lock Market, by Lock Type 8.4.2. Middle East & Africa Smart Lock Market, by Communication Proto-call 8.4.3. Middle East & Africa Smart Lock Market, by Verticals 8.4.4. Middle East & Africa Smart Lock Market, by Countries 8.4.4.1. South Africa Smart Lock Market 8.4.4.2. Egypt Smart Lock Market 8.4.4.3. Nigeria Smart Lock Market 8.4.4.4. Rest of Middle East & Africa Smart Lock Market 8.5. Latin America Smart Lock Market 8.5.1. Latin America Smart Lock Market, by Lock Type 8.5.2. Latin America Smart Lock Market, by Communication Proto-call 8.5.3. Latin America Smart Lock Market, by Verticals 8.5.4. Latin America Smart Lock Market, by Countries 8.5.4.1. Brazil Smart Lock Market 8.5.4.2. Argentina Smart Lock Market 8.5.4.3. Columbia Smart Lock Market 8.5.4.4. Mexico Smart Lock Market 8.5.4.5. Rest of Latin America Smart Lock Market 9. MARKET SHARE ANALYSIS 9.1. Regional Smart Lock Market Share Analysis, by Key Players 9.1.1. North America Smart Lock Market Share Analysis, by Key Players 9.1.2. Europe Smart Lock Market Share Analysis, by Key Players 9.1.3. APAC Smart Lock Market Share Analysis, by Key Players 9.1.4. Middle East & Africa Smart Lock Market Share Analysis, by Key Players 9.1.5. Latin America Smart Lock Market Share Analysis, by Key Players 9.2. Smart Lock Market: Key Innovators 9.3. Patent Analysis Year 2017 10. MARKET COMPETITION ANALYSIS 10.1. Market Share/Positioning Analysis 10.2. Key Innovators 10.3. Company Profiles 10.3.1. Spectrum Brands Holdings, Inc. 10.3.1.1. Overview 10.3.1.2. Products/ End-User 10.3.1.3. Strategy 10.3.1.4. Key Developments 10.3.2. Onity, Inc. 10.3.2.1. Overview 10.3.2.2. Products/ End-User 10.3.2.3. Strategy 10.3.2.4. Key Developments 10.3.3. Master Lock Company LLC 10.3.3.1. Overview 10.3.3.2. Products/ End-User 10.3.3.3. Strategy 10.3.3.4. Key Developments 10.3.4. August Home 10.3.4.1. Overview 10.3.4.2. Products/ End-User 10.3.4.3. Strategy 10.3.4.4. Key Developments 10.3.5. Schlage 10.3.5.1. Overview 10.3.5.2. Products/ End-User 10.3.5.3. Strategy 10.3.5.4. Key Developments 10.3.6. Panasonic Corporation 10.3.6.1. Overview 10.3.6.2. Products/ End-User 10.3.6.3. Strategy 10.3.6.4. Key Developments 10.3.7. Vivint, Inc. 10.3.7.1. Overview 10.3.7.2. Products/ End-User 10.3.7.3. Strategy 10.3.7.4. Key Developments 10.3.8. Honeywell International 10.3.8.1. Overview 10.3.8.2. Products/ End-User 10.3.8.3. Strategy 10.3.8.4. Key Developments 10.3.9. ASSA ABLOY AB 10.3.9.1. Overview 10.3.9.2. Products/ End-User 10.3.9.3. Strategy 10.3.9.4. Key Developments 10.3.10. UniKey Technologies Inc. 10.3.10.1. Overview 10.3.10.2. Products/ End-User 10.3.10.3. Strategy 10.3.10.4. Key Developments 10.3.11. Haven Lock, Inc. 10.3.11.1. Overview 10.3.11.2. Products/ End-User 10.3.11.3. Strategy 10.3.11.4. Key Developments 10.3.12. Samsung SDS Co. Ltd. 10.3.12.1. Overview 10.3.12.2. Products/ End-User 10.3.12.3. Strategy 10.3.12.4. Key Developments 10.3.13. Allegion plc 10.3.13.1. Overview 10.3.13.2. Products/ End-User 10.3.13.3. Strategy 10.3.13.4. Key Developments 10.3.14. dorma+kaba Holding AG 10.3.14.1. Overview 10.3.14.2. Products/ End-User 10.3.14.3. Strategy 10.3.14.4. Key Developments 10.3.15. Salto Systems S.L. 10.3.15.1. Overview 10.3.15.2. Products/ End-User 10.3.15.3. Strategy 10.3.15.4. Key Developments 10.3.16. Cansec Systems Ltd. 10.3.16.1. Overview 10.3.16.2. Products/ End-User 10.3.16.3. Strategy 10.3.16.4. Key Developments 10.3.17. GANTNER Electronic GmbH 10.3.17.1. Overview 10.3.17.2. Products/ End-User 10.3.17.3. Strategy 10.3.17.4. Key Developments 10.3.18. MIWA Lock Co. 10.3.18.1. Overview 10.3.18.2. Products/ End-User 10.3.18.3. Strategy 10.3.18.4. Key Developments 10.3.19. SentriLock, LLC 10.3.19.1. Overview 10.3.19.2. Products/ End-User 10.3.19.3. Strategy 10.3.19.4. Key Developments 10.3.20. Avent Security 10.3.20.1. Overview 10.3.20.2. Products/ End-User 10.3.20.3. Strategy 10.3.20.4. Key Developments

About This Report

Report ID 6838
Category Electronics
Published Date Nov 2019
Updated Date Oct 2021
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