Smart Lock Market by Type (Padlocks, Deadbolts, Lever Handles), Connectivity (Wi-Fi, Bluetooth), by Application (Residential, Industrial, Commercial) by Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast from 2020 To 2027

Smart Lock Market- Global Industry Analysis and Forecast 2020 to 2027

Smart Lock Market: Summary

The Global Smart Lock Market is projected to reach a value of over USD 5.1 billion by 2027 at a CAGR of around 16.6%.

Smart lock or electronic locks provide a way to replace keys or to add additional automation features, such as remote locking or unlocking. In other words, smart lock is an electronic and mechanical locking device that opens wirelessly with an authorized password or various gesture recognition system. Smart lock control doors from wherever you are with the help of IoT and Internet. With the use of different wireless technologies such as Bluetooth and Wi-Fi, the smart lock application and operation is fully controlled by smartphones.  ASSA ABLOY, Spectrum brands Inc., and Allegion Plc will dominate the smart lock market during growth period.

Smart Lock Market

SMART LOCK Market: Drivers & Restraint

Market Driver:

  • Rising Usage of Smartphones

Growing demand for fast speed processors, high resolution displays, usage of various wireless technologies and wireless sensors, and usage of smartphone in different application will rise the smartphone market during forecast period. In 2019, there are about 3.2 Billion smartphones (about 44.8%) users are present in all over the world. In smart lock market, the smartphones can lock the smart lock as well as open the smart lock with the help of different code and wireless technology communication. As compared with traditional methodology, smartphone usage is beneficial for smart lock applications in terms of flexibility, accessibility, and security. Hence, rising usage of smartphone will drive the market during assessment period.

 Market Restraint:

  • Lack of Awareness

 In today’s world, the traditional locking system market is quite huge than smart lock market. The residential, commercial, and industrial customers are also uses traditional locking system for their applications.

Lack of Awareness

 

Source:  Mul-T-Lock (An ASSA ABLOY Company)

According to the survey taken by Mul-T-Lock (An ASSA ABLOY Company), most of the end users are aware of the smart lock system but due to high price and availability, they are stick with traditional locking system which will hinder the smart lock market growth during forecast period.   

SMART LOCK Market: Key Segments

  • Segmentation based on lock type: Padlocks, Deadbolts, Lever Handles, and Others  
  • Segmentation based on connectivity: Wi-Fi, Bluetooth, ZigBee, NFS, and Others
  • Segmentation based on application: Residential, Industrial, and Commercial
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

SMART LOCK Market: Report Scope

The report on the wireless connectivity market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019-2027

Base Year for Market Calculation

2020

Forecasted Period

2021-2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Lock Type, Connectivity, Application, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • Allegion plc (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • ASSA ABLOY
    • August Home
    • Yale
    • Mul-T-Lock
  • Spectrum Brands, Inc.
    • Kwikset
    •  Weiser
  • Avent Security
  • dormakaba Group
  • Salto Systems S.L.
  • HANMAN INTERNATIONAL PTE LTD (SAMSUNG)
  • Carrier
  • Cansec Systems Ltd
  • GANTNER Electronic GmbH
  • Master Lock Company LLC
  • MIWA Lock Co.
  • AMADAS Inc.
  • HavenLock, Inc.
  • Anviz Global Inc.
  • Other Key Companies

SMART LOCK Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Smart Lock Market, by Lock Type

  • Padlocks
  • Deadbolts
  • Lever Handles
  • Others

Smart Lock Market, by Connectivity

  • Wi-Fi
  • Bluetooth
  • ZigBee
  • NFC
  • Others (Thread, Z-Wave)

Smart Lock Market, by Application

  • Residential
  • Industrial
  • Commercial

Smart Lock Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • Taiwan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Switzerland
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Smart Lock Market Providers
  • Smart Lock Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Smart Lock Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Wireless Connectivity MARKET STUDY

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rising Usage of Smartphones
      2. Enhanced Specifications & Advantages as compared with Traditional Locking System
    3. Restraint
      1. Lack of Awareness
    4. Opportunities
      1. IoT Based Security Systems
  1. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  2. GLOBAL SMART LOCK MARKET BY LOCK TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Padlocks
    3. Deadbolts
    4. Lever Handles
    5. Others
  3. GLOBAL SMART LOCK MARKET BY CONNECTIVITY, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Wi-Fi
    3. Bluetooth
    4. ZigBee
    5. NFC
    6. Others (Thread, Z-Wave)
  4. GLOBAL SMART LOCK MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Residential
    3. Industrial
    4. Commercial
  5. GLOBAL SMART LOCK MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Switzerland
      7. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. Taiwan
      5. South Korea
      6. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  6. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  7. COMPANY PROFILES
    1.  Allegion plc
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. ASSA ABLOY
      1. August Home
      2. Yale 
      3. Mul-T-Lock 
    3. Spectrum Brands, Inc.
      1. Kwikset
      2.  Weiser
    4. Avent Security
    5. dormakaba Group
    6. Salto Systems S.L.
    7. HANMAN INTERNATIONAL PTE LTD (SAMSUNG)
    8. Carrier
    9. Cansec Systems Ltd
    10. GANTNER Electronic GmbH
    11. Master Lock Company LLC
    12. MIWA Lock Co.
    13. AMADAS Inc.
    14. HavenLock, Inc. 
    15. Anviz Global Inc.
    16. Other Key Companies
  8. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

Rep Id : SC 0115

Published : September, 2020


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