Global Smart Lock Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

The Global Smart Lock Market size was estimated at USD 1.8 billion in 2020 and reach 6.3 billion by 2030 growing with a CAGR of 13% during the forecast period. The smart lock is an automatic electro-mechanical door locks system. It is built to perform the locking and unlocking function through cryptographic key and from commands, which is received from an authorized source using the wireless protocol to execute the authorization process. These commands are usually transmitted through smartphones, wearable devices or tablets using Wi-Fi or Bluetooth, which allows the owner of the house to grant access to a third party by sending the virtual key by email or text message. It can be monitored from any location and customized to restrict universal access. Moreover, the lock provides monitoring features such as access notifications through e-mail, text message and video camera with recording capabilities, to provide visuals of the person at the door. They also have features such as auto-locking options that automatically lock a door if left unlocked for a specific period and perimeter auto-locking that automatically locks the door if the user's smartphone is outside the designated perimeter.
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Market Dynamics and Factors:
The growing importance of high-end technology and increased urbanization leads to a rising demand for smart homes and novel security systems, which further help to boosts the smart lock market in a positive manner. Whereas, the increasing popularity of the advanced technology and integration of smart devices like tablets and smartphones is also driving the smart lock market. Consequently, the device is rapidly replacing the traditional locking systems that included bulky locks with keys that are more prone to lose and theft. Lack of awareness among end-user and price fluctuation is expected to restrain the smart lock market. Further, low installation cost, high durability, and security from attacks or robbery incidents in residential and commercial places are considered as an opportunity to contribute to the smart lock market growth.
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Market Segmentation:
Global Smart Lock Market – By Lock Type
Deadbolts
Lever Handles
Padlocks
Others
Global Smart Lock Market – By Vertical
Commercial
Residential
Industrial
Global Smart Lock Market – By Technology
Bluetooth
Wi-Fi
Others
Global Smart Lock Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is dominating region across the world, and continue its dominance during the review period. The growth in this region is attributed to the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Followed by North America, Europe is the second-largest contributor across the words. Owing to the growing urbanization and huge tech-savvy population. Asia Pacific is estimated to grow significantly, due to a large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of locks in this region.
Competitive Scenario:
The major key player of the smart lock industry are Schlage, Honeywell International Inc., Panasonic Corporation, Vivint Inc., ASSA ABLOY AB, UniKey Technologies Inc., Haven Lock Inc., August Home, Spectrum Brand Inc., and Samsung SDS Co. Ltd.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Smart Lock industry, although key threats, opportunities and disruptive technologies that could shape the Global Smart Lock Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Smart Lock Market most.
The data analysis present in the Global Smart Lock Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Smart Lock Market business.
The 2021 Annual Global Smart Lock Market offers:
100+ charts exploring and analysing the Global Smart Lock Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Smart Lock Market type
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