Deadbolt smart locks offer advanced security with applications ranging from residential to commercial spaces. Their features include keyless entry via PIN codes, biometric recognition, and remote access through smartphone. They integrate with smart home systems, allowing users to monitor and control access remotely. This technology ensures convenient entry for authorized individuals while deterring unauthorized access. The locks find use in homes, rental properties, offices, and hospitality sectors, enhancing security, reducing the reliance on physical keys, and providing seamless integration with modern smart living environments.
According to Data Bridge Market Research, the Global Deadbolt Smart Lock Market accounted for USD 1,593.5 million in 2021 and is expected to reach USD 7,419.47 million by 2029. The market is expected to grow with a CAGR of 21.20% in the forecast period of 2022 to 2029.
“Rising security concerns among consumers boost the market’s growth”
The rising security concerns among consumers have led to substantial growth in the deadbolt smart lock market. These advanced locks offer enhanced protection through features such as biometric authentication, remote monitoring, and integration with smart home systems. As individuals prioritize safeguarding their homes and belongings, the demand for these technologically advanced solutions has surged. This trend is expected to continue driving the growth of the deadbolt smart lock market as people seek reliable and convenient ways to enhance their residential security.
What restraints the growth of the global deadbolt smart lock market?
“High cost of smart locks restraints the market’s growth”
The growth of the deadbolt smart lock market is somewhat constrained by the relatively high costs associated with these advanced security solutions. The incorporation of sophisticated technology and features such as biometric sensors, remote access, and integration with smart home ecosystems often results in a premium price point. This pricing may deter some budget-conscious consumers from adopting these locks, limiting their widespread adoption.
Segmentation: Global Deadbolt Smart Lock Market
The global deadbolt smart lock market is segmented on the basis of communication protocol and vertical.
- On the basis of communication protocol, the deadbolt smart lock market is segmented into Wi-Fi, Bluetooth, and others.
- On the basis of vertical, the deadbolt smart lock market is segmented into commercial, residential, institution, and government, and industrial.
Regional Insights: North America dominates the Global Deadbolt Smart Lock Market
North America dominates the deadbolt smart lock market in terms of revenue and market share due to an uptick in security apprehensions and the presence of tech-savvy consumers has driven this trend. Heightened worries about safety have propelled the demand for advanced security solutions like deadbolt smart locks. Concurrently, a tech-savvy customer base in the region seeks cutting-edge solutions, further fostering the growth of this market.
Asia-Pacific is anticipated to be the fastest developing in the forecast period of 2022-2029 due to a surge in smart city initiatives and increasing interest in smart technology has propelled this trend. As the region embraces urban innovation and connectivity, the demand for smart solutions such as deadbolt smart locks has risen, aligning with the broader drive toward enhanced urban living and technological integration.
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The Prominent Key Players Operating in the Global Deadbolt Smart Lock Market Include:
- ASSA ABLOY (Sweden)
- Allegion plc (Ireland)
- dormakaba Group (Switzerland)
- Spectrum Brands Holdings, Inc. (U.S.)
- Salto Systems S.L. (Spain)
- Carrier (U.S.)
- Cansec Systems Ltd. (Canada)
- GANTNER Group (UAE)
- Master Lock Company LLC (U.S.)
- Master Lock Company LLC (U.S.)
- Samsung (South Korea)
- SentriLock (U.S.)
- Avent Security (Vietnam)
- DESSMANN Schliessanlagen GmbH (Singapore)
- Haven Lock, Inc., (U.S.)
- Dahua Technology Co., Ltd (China)
Above are the key players covered in the report, to know about more and exhaustive list of global deadbolt smart lock market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Deadbolt Smart Lock Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Europevs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
