North America Smart Locks Market, By Type (Deadbolts, Lever Handles, Padlocks and Other Locks), Communication Protocol (Bluetooth, Wi-Fi and Other Protocols), Application (Commercial, Residential, Institution & Government and Industrial), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Smart Locks Market
Smart locks market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 12.7% in the forecast period of 2021 to 2028 and expected to reach USD 2,073,919.82 thousand by 2028. Increase in the construction of housing and commercial office in the U.S. is expected to boost the market for the smart locks in the region.
A smart lock is a kind of electromechanical lock designed lock which perform locking and unlocking operations on a door after receiving instructions from an authorized smart device using a wireless protocol and a cryptographic key to execute the locking and unlocking process in smart lock. A smart lock device has an inbuilt Wi-Fi or Bluetooth and allows users to unlock their device remotely also smart locks have enhanced security features and tons of customizations.
Smart locks have several features which ensure the high security. The smart locks are connected to the phones through internet which can show the real time data for the opening and closing of smart lock. The smart locks also monitor who is entering and leaving your home while person is away from home. The latest smart locks offer things like voice activation, geofencing, and auto-locking features.
This smart locks market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America smart locks market is segmented of the basis into material type, communication protocol, 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 North America smart locks market is segmented into deadbolts, lever handles, padlocks and other locks. In 2021, the deadbolts segment is expected to dominate the market as deadbolts smart locks provide high security, increasing its demand in the market.
- On the basis of communication protocol, the North America smart locks market is segmented into bluetooth, Wi-Fi and other protocols. In 2021, Wi-Fi is expected to dominate in the communication protocol segment as all the smart devices are easily connected to Wi-Fi and enable to record data.
- On the basis of application, the North America smart locks market is segmented into commercial, residential, institution & government and industrial. In 2021, the commercial segment is expected to dominate the market as different types of locks are in high demand in the high-class hotels and hospitals.
North America market is analysed and market size information is provided by country, type, communication protocol, application as referenced above.
The countries covered in the smart locks market report are U.S., Canada and Mexico in North America.
The U.S. is expected to dominate the North America smart locks market due to the high innovations and development in the manufacturing of products which creates a large customer base for the smart locks market . The deadbolts segment is expected to increase in the North American region. In the U.S., the demand for the deadbolts is expected to increase due to huge demand for high security locking systems in commercial industry. In Canada, the demand of the deadbolts is expected to increase due to various feature of deadbolts smart lock.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growth in the Smart Lock Industry
North America smart locks market also provides you with detailed market analysis for every country growth in installed base of different kind of products for smart locks market , impact of technology using life line curves and changes in smart lock regulatory scenarios and their impact on the smart locks market . The data is available for historic period 2010 to 2019.
Competitive Landscape and Smart Locks Market Share Analysis
North America smart locks 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, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America smart locks market.
The major players covered in the report are Onity (A Subsidiary of Carrier), GANTNER Electronic GmbH, SentriLock, LLC, CANDY HOUSE, INC., UniKey., Spectrum Brands, Inc., Cansec Systems Ltd., Master Lock Company LLC., Avent Security., SAMSUNG SDS., igloocompany Pte Ltd., dormakaba group, Digital Keys., LEVEL HOME INC., Mul-T-Lock Ltd. (A Subsidiary of ASSA ABLOY), Camlock Systems Ltd., Schlage (A Subsidiary of Allegion plc) and Zephyr Lock LLC among other players domestic and regional. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the smart locks market.
- In September 2019, Schlage, in partnership with Brilliant, gives smart home installers, builders and end-users greater control with smart home products, including the ability to provide end-users total access control as well as the ability to effortlessly lock and unlock their doors straight from any wall-mounted device using voice commands via Amazon Alexa integration. The integration was created primarily to give end customers with increased safety and a wider range of smart home ecosystems
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company footprints in the smart locks market which also provides the benefit for organization’s profit growth.