Smart Lock Market, Size, Share, Opportunities and Forecast,  2020-2027

SKU: DAG51 | Last Updated On: May 10 2020 | No. of Pages: 172 | Available Formats

> Global Smart Lock Market Expected to reach a high CAGR of 12.3% By 2027: DataM Intelligence

Global Smart Lock Market is segmented  By Type(Deadbolts, Lever Handle, Padlocks, and others), By Protocol(Bluetooth, Wi-Fi, Others (includes NFC)), By Application(Commercial, Residential, Industrial, and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027

 

Market Overview

  • The Global Smart Lock Market is expected to grow at a CAGR of 12.3% during the forecasting period (2020-2027).

  • A smart lock is an electro mechanical lock designed to perform locking operations when it receives such instructions from an authorized device using a wireless protocol and a cryptographic key to execute the authorization process. 

  • Thus, the benefit offered by these devices along with increasing technology awareness is the major factor that is expected to drive the market over the forecast period.

Market Dynamics

  • The proliferation of wireless communication technologies coupled with growing awareness regarding connected devices is expected to propel the market over the forecast period. Also, smart locks provide ease of use and works on either Wi-Fi, Bluetooth, or both.

  • Furthermore, an increase in the number of smartphones and the growing popularity of smart technology is anticipated to drive the market. 

  • Smartphones usage has been driving the market at a significant pace since more users acquire these electronic devices for everyday use. By 2020, smartphone users is forecasted to reach 2.87 billion.

  • Additionally, governments across the globe are increasingly focusing to enhance adoption of smart homes in their respective regions.

  • Substantial investments in R&D activities by market players and the increased focus of the society towards the Internet of Things (IoT) for also fueling the market growth.

  • However, these devices are highly expensive compared to conventional locks. Thus, this factor hampers market growth, especially in developing regions.

Market Segmentation

  • Based on the type, the global smart lock market is broadly segmented as deadbolt, leaver handler, padlocks, and others.

  • Amongst all these, deadbolts accounted for major market share and is predicted to grow at a high pace over the forecast period.

  • It is owing to the increased use of deadbolts in the residential and commercial verticals, due to benefits provided by deadbolts such as low installation cost, high durability, and adequate security against the attacks in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

  • Based on protocol, the global smart lock market is segmented into Bluetooth, Wi-Fi and others.

  • Amongst all these, Wi-Fi accounted for significant market share and is projected to grow at a high CAGR during the forecast period.

  • The growth of the market for Wi-Fi is due its factors such as high speed and wireless connectivity offered to smart lock system along with the increasing adoption of IoT, globally, is driving the growth of this market.

  • According to Secure Technology Alliance, in 2017, there were 8.4 billion Internet of Things (IoT) connected devices, and it is predicted to reach 20.4 billion devices by 2026.

Geographical Share

  • The global Smart Lock market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

  • The Asia Pacific region accounted for major market share and is expected to grow at a high CAGR of XX% over the forecast period.

  • The growth can be attributed to the rising number of new residential and commercial construction projects. Also, increased adoption of security systems as the countries in this region are the emerging economies with growing manufacturing bases and growing demand for connected security devices.

  • Additionally, a huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region

Companies

  • Significant players of smart lock market are UniKey Technologies Inc., Yale, Haven; August Home, Goji, SentriLock, Weiser, Schlage, SDS Smart Locks, Mul-T-Lock, Cansec System and others. The product launches, collaboration, and product agreements, and other key developments are the dominating strategies adopted by the market players to enhance their product portfolio in the smart lock market.

  • For instance, in April 2019, UniKey Technologies, partnered with RemoteLock, the leading provider of remote access control software and WiFi locks for vacation rental and small business users. In July 2018, Samsung SDS, Smart Home Division has introduced the first IoT-powered Wi-Fi smart door lock (SHP-DR900). In January 2016, ERA and UniKey launched their first cooperative product, TouchKey; a Nightlatch styled lock. In September 2016, Haven Lock Inc. and UniKey launched Haven Connect, the first truly preventative smart lock.

Why Purchase the Report?

  • Visualize the composition of the Smart Lock market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.

  • Identify commercial opportunities in Smart Lock market by analyzing trends and co-development deals.

  • Excel data sheet with thousands of data points of the Smart Lock market - level 4/5 segmentation.

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

  • Product mapping in excel for the key products of all major market players

Target Audience

  • Equipment Suppliers/ Buyers

  • Service Providers/ Buyers

  • Industry Investors/Investment Bankers

  • Education & Research Institutes

  • Research Professionals

  • Emerging Companies

  • Manufacturers

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Table of Contents

1. Smart Lock Market – Methodology and Scope

1.1. Research Methodology

1.2. Research Objective and Scope of the Report

2. Smart Lock Market – Market Definition and Overview

3. Smart Lock Market – Executive Summary

3.1. Market Snippet by Type

3.2. Market Snippet by Protocol

3.3. Market Snippet by Application

3.4. Market Snippet by Region    

4. Smart Lock Market – Market Dynamics

4.1. Market Impacting Factors

4.1.1. Drivers

4.1.2. Restraints

4.1.3. Opportunity

4.1.4. Impact Analysis

5. Smart Lock Market – Industry Analysis

5.1.  Porter's Five Forces Analysis

5.2. Supply Chain Analysis

5.3. Pricing Analysis

6. Smart Lock Market Size – By Type

6.1. Introduction

6.1.1 Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

6.1.2 Market Attractiveness Index, By Type

6.2. Deadbolts

6.2.1. Introduction

6.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026

6.3. Lever Handle

6.4. Pad locks

6.5. Others (includes Cam locks)

7. Smart Lock Market Size – By Protocol

7.1  Introduction

7.1.1  Market Size Analysis, and Y-o-Y Growth Analysis (%), By Protocol

7.1.2  Market Attractiveness Index, By Protocol

7.2.  Bluetooth

7.2.1.Introduction

7.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026

7.3. Wi-Fi

7.4. Others (includes NFC)

8. Smart Lock Market Size – By Application

8.1. Introduction

8.1.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

8.1.3. Market Attractiveness Index, By Application

8.2. Commercial

8.2.1. Introduction

8.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026

8.3. Residential

8.4. Industrial

8.5. Others   

9. Smart Lock Market Size – By Region

9.1. Introduction

9.1.  Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region

9.2. Market Attractiveness Index, By Region

9.2. North America Smart Lock Market

9.2.1.  U.S.

9.2.2. Canada

9.2.3. Mexico

9.3. Europe Smart Lock Market

9.3.1. Germany

9.3.2. U.K.

9.3.3. France

9.3.4. Italy

9.3.5. Spain

9.3.6. Rest of Europe

9.4. South America Smart Lock Market

9.4.1. Brazil

9.4.2. Argentina

9.4.3. Rest of South America

9.5. Asia Pacific Smart Lock Market

9.5.1. China

9.5.2. India

9.5.3. Japan

9.5.4. Australia

9.5.5. Rest of Asia Pacific

9.6. Middle East & Africa Smart Lock Market

10. Smart Lock Market – Competitive Landscape

10.1. Competitive Scenario

10.2. Competitor Smart Lock Strategy Analysis

10.3. Comparative Product Portfolio Analysis

10.4. Market Positioning/Share Analysis

10.5. Mergers and Acquisitions Analysis

11. Smart Lock Market – Company Profiles

11.1. UniKey Technologies Inc.

11.1.1. Company Overview

11.1.2. Product Portfolio and Description

11.1.3. Key Highlights

11.1.4. Financial Overview

11.2. Yale, Haven

11.3. August Home

11.4. Goji

11.5. SentriLock

11.6. Weiser

11.7. Schlage

11.8. SDS Smart Locks

11.9. Mul-T-Lock

11.10. Cansec System

12. Smart Lock Market – Premium Insights

13. Smart Lock Market – DataM

13.1.  Appendix

13.2.  About Us and Services

13.3. Contact Us

Frequently Asked Questions

Q. At what CAGR is the Smart Lock Market anticipated to augment?
A. The Smart Lock Market is projected to strike 12.3% CAGR

Q. Who are the leading players in the Smart Lock Market?
A. UniKey Technologies Inc, Yale, Haven, August Home, Goji, SentriLock, Weiser, .Etc.

Q. Which region holds the major market share for Smart Lock Market?
A. The Asia Pacific region accounted for major market share and is expected to grow at a high CAGR of XX% over the forecast period.

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