Market Highlights:

The global smart lock market is growing rapidly across the world. The demand for smart locks is growing with the increasing demand for auto-lock technologies for smart lock are boosting the growth of this market. Wi-Fi-based smart lock is gaining demand in the smart lock market as it is designed with advanced technology that are connected with smart home hub and other connected devices like the owner’s smartphone etc. The Bluetooth and NFC are gaining demand in the market as it is integrated with sensors that can enable a door to unlock whenever an authorized user approaches with his smartphone. These smart locks are inbuilt with electronic key code capabilities and physical keypads provide a backup if needed.

The smart lock market is gaining momentum due to touchscreen lock are widely used among users as these locks are smudge and fingerprint-resistant. These locks are connected with smart home hubs via Z-wave, ZigBee and others so as to be controlled it remotely. The RFID based smart locks are gaining more demand in the market as its helps people save time and maintain a managed security. These Radio Frequency Identification are integrated with chips to communicate with RFID readers. These RFID chips are used in the small to mid-scale industry as it creates high-tech, keyless, safe RFID door locks.

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Major Key Players:

Onity Inc. (U.S.),

Cansec Systems Ltd. (Canada),

Master Lock (U.S.),

August, Inc. (U.S.),

The Assa Abloy Group (Sweden),

Allegion Plc (Ireland),

Dormakaba Holding AG (Switzerland),

Spectrum Brands Holdings, Inc. (U.S.),

Salto Systems S.L. (Spain),

Kwikset (U.S.), Haven Holidays (U.K), and among others.

According to the Market Research Future analysis, the global Smart Lock Market has been valued at USD ~2 billion by the end of forecast period at a CAGR of ~11% during forecast period 2017-2023.

Market Segmentation

The global smart lock market is segmented into lock type, products type, communication protocol, end user, and region. The locks type is segmented into deadbolt, lever handles, padlocks and others. The products type are segmented into Bluetooth-based smart lock, Wi-Fi-based smart lock and others. The communication protocol are segmented Bluetooth, WI -Fi, ZigBee, Z-Wave, Thread, NFC, and others. The end users are segmented into commercial, residential, institution & government, industrial and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.

Regional Analysis

The regional analysis of smart lock market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading regions across the world in terms of market share. The smart lock market in this region has a huge demand due to increase in the sales of security systems propelling the market growth to a large extent. The smart lock market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for smart lock market is expected to be the highest CAGR in the coming years due to increasing focus of various key players on targeting the smart lock in these market to meet the requirement of customers’ security need.

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Intended Audience

Smart lock companies
Smart lock providers
Technical universities
System integrators
Managed Security Service Providers
Professional service providers
Research and development companies
Market research and consulting firms
Solution providers
Technology standards organizations
Technology investors
System Integrators