Smart Lock Market size was valued at US$ 2.11 Bn. in 2022 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn.
Smart Lock Market Overview:
Maximize Market Research (MMR) has published a comprehensive report on the Smart Lock Market. This report delves into the growth projections for the Smart Lock Market from 2022 to 2029. It offers valuable insights into market dynamics, including market value, growth rate, market segments, geographical reach, key market players, and their recent developments.
Smart Lock Market Report Scope and Research Methodology:
The Smart Lock Market report encompasses a thorough analysis of significant developments, marketing strategies, supply-side and demand-side indicators, as well as detailed company profiles of market leaders, potential entrants, and emerging players. The report relies on both primary and secondary research methodologies to provide an exhaustive analysis of the global alginates & derivatives market.
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Segmentation Analysis:
by Lock Type
Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others
The segment for deadbolts had the largest market share in terms of lock type in 2022. The expansion of this market is being driven by the expanding applications in different industries and simplicity of installation. One of the most popular styles of exterior home locks is the deadbolt. The expansion of this market is being driven by its low installation costs, excellent durability, and efficient defense against intense incursions or attacks in residential, commercial, and other verticals. Additionally, industry leaders like Kwikset are expanding their selection of high-tech deadbolts with integrated features like low battery warning, one-touch locking, and personalized user codes, drawing in a sizable user base.
by Communication
Protocol Bluetooth
WiFi
Z-Wave
Others
The smart lock market for the Bluetooth communication protocol sector had the biggest market share in 2022, according to communication protocol. Users can only control their Bluetooth smart locks if they are close to their residences due to the 300-foot maximum range of these devices. It is a practical technology that may be applied to a variety of tasks, such as access control, jewelry storage, and asset security. It is a very economical smart lock with a setup that offers convenience and security to customers. During the anticipated timeframe, this aspect is driving up demand for smart locks.
by Unlocking Mechanism
Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based
The Touch Based section of the smart lock industry has the fastest growing unlocking mechanism in terms of unlocking method. The touch-based unlocking system for smart locks uses fingerprint recognition technology. It is quick and simple to identify and authenticate persons using their fingerprints. Modern home security systems can benefit greatly from biometric authentication, which is also a trend that is rising with the smart home movement. Biometric authentication uses personally identifiable information maintained securely on-device (whether the lock itself or a fingerprint-secured access card) for maximum privacy, in contrast to password-protected smart locks. Because of this, biometrics are hard to hack.
by Vertical
Commercial
Residential
Institutional & Government
Industrial
Transportation & Logistic
According to Vertical, the residential market for smart locks held a 65.7% revenue share in 2022. The market expansion is primarily explained by the expanding global adoption of smart homes as well as the rise in new construction and renovation projects in the industry over the course of the projected year. The usage of smart locks in the domestic market is also anticipated to increase as advanced security technologies like door and window opening sensors, motion detectors, and remote door locking/unlocking become more affordable.
Table of Content: Smart Lock Market
Part 01: Executive Summary
Part 02: Scope of the Smart Lock Market Report
Part 03: Global Smart Lock Market Landscape
Part 04: Global Smart Lock Market Sizing
Part 05: Global Smart Lock Market Segmentation
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key Players are:
1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)
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Key Questions Addressed in Smart Lock Market Report:
- What is the projected size of the Smart Lock Market by 2029?
- What is the anticipated growth rate of the Smart Lock Market?
- What factors are expected to fuel the growth of the Smart Lock Market?
- Which segment has dominated the growth of the Smart Lock Market?
- Which region boasts the largest share in the Smart Lock Market?
Regional Insights:
This report provides region-specific insights into the Smart Lock Market, covering North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Notably, the Asia Pacific region is poised to spearhead the Smart Lock Market's growth due to the increasing demand for Smart Lock across various applications, particularly in China, Japan, and India.
Key Offerings:
- Historical Market Size and Competitive Landscape (2018 to 2022)
- Previous Pricing and Price Trends by Region (2018 to 2022)
- Market Size, Share, and Forecast by Different Segments | 2023−2029
- Market Dynamics, including Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Detailed Market Segmentation Analysis, including Sub-segments and Regional Breakdown
- Competitive Landscape, featuring Profiles of Selected Key Players by Region from a Strategic Perspective
- Competitive Benchmarking of Key Players by Region
- PESTLE Analysis
- PORTER’s Analysis
- Value Chain and Supply Chain Analysis
- Legal Aspects of Business by Region
- Lucrative Business Opportunities with SWOT Analysis
- Recommendations
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