Market Highlights: —
Smart locks have increased their adoption primarily due to the utility they offer in line with smart and integrated lifestyles globally. Market reports associated with the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to progress with an 11% CAGR while earning revenues worth USD 2 billion in the forecast period.
The study reveals that North America region dominates the smart lock market. Innovation in technology and biometric smart lock technologies with fingerprint technology for smart homes are boosting the demand for smart locks in the market. These locks are embedded with sensors that are used for security purposes. There are a number of smart lock screen security options in the market with different operating system such as android, windows and others.
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Major Key Players:
• The Assa Abloy Group (Sweden),
• Allegion Plc (Ireland),
• Dormakaba Holding AG (Switzerland),
• Spectrum Brands Holdings, Inc. (U.S.),
• Salto Systems S.L. (Spain),
• Onity Inc. (U.S.),
• Cansec Systems Ltd. (Canada),
• Master Lock (U.S.),
• August, Inc. (U.S.),
• Kwikset (U.S.),
• Haven Holidays (U.K),
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.
Latest Industry News
Internet-connected deadbolts have declared enhanced Google Assistant integration for the August Smart Lock, together with Amazon Alexa and IFTTT-powered features for the August Doorbell Cam Pro for opening the front door hands-free.
Taiwan startup NextDrive has lately declared the newest application of its cube devices, a smart IoT gateway, to remote-control smart locking system built in collaboration with Rohm Semiconductor and OHGA SmartThings, which is anticipated to produce new business prospects in Taiwan's smart home market.
The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The governance style in the market is reinforcing the level of growth that can be achieved in the present market scenario. The fruition of plans is reviewed in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The ability to utilize the economies of scale is further proving to be beneficial for comprehensive market growth.
The smart lock market is segmented into products type, lock type, end user, communication protocol, and region. The locks type is segmented into lever handles, padlocks, deadbolt, and others. The products type segment of the market comprises of Wi-Fi-based smart lock, Bluetooth-based smart lock and others. The communication protocol segment of the smart lock market comprises of ZigBee, WI-Fi, Bluetooth, Z-Wave, NFC, Thread and others. The end-users’ segment of the market comprises of commercial, institution & government, residential, industrial and others. The market spans regions such as Europe, North America, Asia Pacific, and the rest of the world.
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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• 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
LIST OF TABLES
Table 1 World Population by Major Regions (2017 To 2030)
Table 2 Global Smart Lock Market: By Region, 2017-2023
Table 3 North America Smart Lock Market: By Country, 2017-2023
Table 4 Europe Smart Lock Market: By Country, 2017-2023
Table 5 Asia-Pacific Smart Lock Market: By Country, 2017-2023
Table 6 Middle East & Africa Smart Lock Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Smart Lock market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Smart Lock Market
FIGURE 4 Value Chain of Global Smart Lock Market
FIGURE 5 Share of Global Smart Lock Market in 2017, by country (in %)
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Release ID: 472881