Smart Lock Market Overview

Maximize Market Research, a leading firm, has published a comprehensive report on the Smart Lock Market. The report provides an overview of the market, including its scope, research methodology, gross profit margin, cost market share, market capability, and supply and demand analysis. This data helps identify key drivers that impact market growth. The report also highlights key industries and presents widely available data.

Smart Lock Market size was valued at US$ 2.11 Bn. in 2022 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn.

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Smart Lock Market Scope

The Smart Lock market heavily relies on pictorial, graphical, and numerical data, which are analyzed and presented comprehensively within the market scope. The scope of the report showcases various opportunities and mediums for market analysis. Primary data refers to authentic information obtained from reliable sources, while secondary data consists of existing information used for research, analysis, and decision-making purposes. The report includes an in-depth analysis of the Smart Lock market and its segmentation. It also provides a regional analysis of market dynamics, enabling investors and readers to compare past and current market trends. SWOT analysis is performed to identify market strengths and weaknesses, while PESTLE analysis is conducted to understand the business direction, growth targets, and upcoming risks. The report also covers current market trends and provides forecasts for the upcoming years.

Segmentation

by Lock Type

Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others

The segment for deadbolts had the largest market share in terms of lock type in 2022. The expansion of this market is being driven by the expanding applications in different industries and simplicity of installation. One of the most popular styles of exterior home locks is the deadbolt. The expansion of this market is being driven by its low installation costs, excellent durability, and efficient defence against intense incursions or attacks in residential, commercial, and other verticals. Additionally, industry giants like Kwikset are expanding their selection of high-tech deadbolts with integrated features like low battery warning, one-touch locking, and personalised user codes, drawing in a sizable user base.

by Communication Protocol

Bluetooth
WiFi
Z-Wave
Others

The smart lock market for the Bluetooth communication protocol sector had the biggest market share in 2022, according to communication protocol. Users can only control their Bluetooth smart locks if they are close to their residences due to the 300-foot maximum range of these devices. It is a practical technology that may be applied to a variety of tasks, such as access control, jewellery storage, and asset security. It is a very economical smart lock with a setup that offers convenience and security to customers. During the anticipated timeframe, this aspect is driving up demand for smart locks.

by Unlocking Mechanism

Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based

The Touch Based section of the smart lock industry has the fastest growing unlocking mechanism in terms of unlocking method. The touch-based unlocking system for smart locks uses fingerprint recognition technology. It is quick and simple to identify and authenticate persons using their fingerprints. Modern home security systems can benefit greatly from biometric authentication, which is also a trend that is rising with the smart home movement. Biometric authentication uses personally identifiable information maintained securely on-device (whether the lock itself or a fingerprint-secured access card) for maximum privacy, in contrast to password-protected smart locks. Because of this, biometrics are hard to hack.

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Regional Analysis

The report emphasizes Smart Lock market strategy and planning through regional analysis. This analysis incorporates various techniques and tactics to enhance understanding. Regional analysis continuously monitors business growth and helps target clients, thereby impacting regional business or market. The report presents different levels of data for regional perspectives, including competitiveness, market pricing, quantity, and quality.

Key Players

1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)

Table of content for the Smart Lock Market includes:

1. Global Smart Lock Market: Research Methodology

2. Global Smart Lock Market: Executive Summary
2.1 Market Overview and Definitions
2.1.1. Introduction to Global Smart Lock Market
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry

3. Global Smart Lock Market: Competitive Analysis
3.1 MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2 Consolidation in the Market
3.2.1 M&A by region
3.3 Key Developments by Companies
3.4 Market Drivers
3.5 Market Restraints
3.6 Market Opportunities
3.7 Market Challenges
3.8 Market Dynamics
3.9 PORTERS Five Forces Analysis
3.10 PESTLE
3.11 Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
3.12 COVID-19 Impact

4. Global Smart Lock Market Segmentation
4.1 Global Smart Lock Market, by Lock Type (2022-2029)
• Deadbolt Locks
• Lever Handles
• Server locks & Latches
• Knob Locks
• Others
4.2 Global Smart Lock Market, by Communication Protocol (2022-2029)
• Bluetooth
• WiFi
• Z-Wave
• Others
4.3 Global Smart Lock Market, by Unlocking Mechanism (2022-2029)
• Keypad
• Card Key
• Touch Based
• Key Fob
• Smartphone-Based
4.4 Global Smart Lock Market, by Vertical (2022-2029)
• Commercial
• Residential
• Institutional & Government
• Industrial
• Transportation & Logistic

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Key Questions Answered in the Smart Lock Market Report:

  • What is the definition of the Smart Lock Market?
  • What is the forecast period for the Smart Lock Market?
  • What is the competitive scenario of the Smart Lock market?
  • Which region holds the largest market share in the Smart Lock Market?
  • What are the opportunities for the Smart Lock Market?
  • What factors are affecting the growth of the Smart Lock market?
  • Who are the key players in the Smart Lock market?
  • Which company holds the largest share in the Smart Lock market?
  • What will be the compound annual growth rate (CAGR) of the Smart Lock market during the forecast period?
  • What key trends are likely to emerge in the Smart Lock market in the coming years?

Key Offerings:

  • Market Share, Size, and Revenue Forecast | 2022-2029
  • Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
  • Market Segmentation: Detailed analysis by Smart Lock
  • Landscape: Leading key players and other prominent participants.

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