Global Smart Lock Market, By Type (Deadbolt, Lever Handles, Padlock and Others), Communication Protocol (Bluetooth, Wi-Fi and Others), Application (Commercial, Residential, Industrial, Government Institution and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
The smart lock market is expected to reach USD 3.75 billion by 2027 witnessing market growth at a rate of 13.46% in the forecast period of 2020 to 2027. Data Bridge Market Research report on smart lock market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
A smart lock is an electromechanical device that has an inbuilt Wi-Fi or Bluetooth and allows users to unlock their device remotely. They have enhanced security features and tons of customizations. It allows us to monitor our device at all times. It gives us customised entry and exit options through fingerprint, face unlock, through our smart phones or even gestures.
Implementation of complex technologies to introduce innovative locking and unlocking mechanisms, rise of IoT, growing demand of services and growing adoption of smart and connected devices are the driving factors for the growth of global smart lock market. High initial cost of device and concerns about privacy invasion are the restraining factors for the growth of global smart lock market.
Growing popularity of smart homes and large investments in research & development by market players are the opportunities for the growth of global smart lock market in the above mentioned period. Lack of awareness and outlook of consumers related to power failure or hacking are the challenges faced by global smart lock market.
This smart lock market provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart lock market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Lock Market Scope and Market Size
The smart lock market is segmented on the basis of type, communication protocol and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the smart lock market has been segmented as deadbolt, lever handles, padlock and others.
- On the basis of communication protocol, the smart lock market has been segmented as bluetooth, wi-fi and others. Others have been further segmented into Z-wave, ZigBee, thread and NFC.
- Smart lock market has also been segmented on the basis of application into commercial, residential, industrial, government institution and others. Commercial has been further segmented into retail stores and malls, hospitality, corporate and healthcare. Residential has been further segmented into condominium and individual houses. Industrial has been further segmented into oil & gas, manufacturing, energy & power, transportation & logistics and others.
Global Smart Lock Market Country Level Analysis
Global smart lock market is analysed and market size, volume information is provided by country, type, communication protocol and application as referenced above.
The countries covered in the smart lock market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific will dominate the growth in the smart lock market owing to the growing demand of connected security devices among consumers and various industry verticals. Also, the increasing investments in research & development and rising urbanization is fuelling the demand for smart locks in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Lock Market Share Analysis
The smart lock market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart lock market.
The major players covered in the smart lock market report are ASSA ABLOY AB, Allegion plc, dorma+kaba Holding AG, Spectrum Brands Holdings, Inc., Salto Systems S.L., Onity, Inc., Cansec Systems Ltd., GANTNER Electronic GmbH, Master Lock Company LLC, MIWA Lock Co., Samsung Electronics Co., Ltd., SentriLock, LLC, Avent Security, ADEL Group, Dessmann, Haven Lock, Inc., Gate, Shenzhen Vians Electric Lock Co., Ltd., Anviz Global, Poly-Control International ApS, August Home (US), CANDY HOUSE, Inc., Dahua Technology Co., Ltd, Amadas Inc. and LockState among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In January 2020, August has launched its new WI-FI enabled smart lock, which is much smaller in volume and slimmer than its predecessor but comes at a similar price. It can be easily attached to the back of the door without changing the design of the front part of the door as in the case with other smart locks. It retains almost all the features as its predecessor named as Smart Lock Pro.
Customization Available : Global Smart Lock Market
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