Smart Lock Market 2018 to 2023 By Global Key Leaders: Master Lock, Cansec Systems, Kwikset, August, Spectrum Brands Holdings, Allegion, Dormakaba Holding

Market Highlights:

The global smart lock market is growing rapidly across the world. The demand for smart locks is growing with the increasing demand for auto-lock technologies for smart lock are boosting the growth of this market. Wi-Fi-based smart lock is gaining demand in the smart lock market as it is designed with advanced technology that are connected with smart home hub and other connected devices like the owner’s smartphone etc.. The Bluetooth and NFC are gaining demand in the market as it is integrated with sensors that can enable a door to unlock whenever an authorized user approaches with his smartphone. These smart locks are inbuilt with electronic key code capabilities and physical keypads provide a backup if needed.

The smart lock market is gaining momentum due to touchscreen lock are widely used among users as these locks are smudge and fingerprint-resistant. These locks are connected with smart home hubs via Z-wave, ZigBee and others so as to be controlled it remotely. The RFID based smart locks are gaining more demand in the market as its helps people save time and maintain a managed security. These Radio Frequency Identification are integrated with chips to communicate with RFID readers. These RFID chips are used in the small to mid-scale industry as it creates high-tech, keyless, safe RFID door locks.

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Major Key Players:

Onity Inc. (U.S.),
Master Lock (U.S.),
August, Inc. (U.S.),
Spectrum Brands Holdings, Inc. (U.S.),
The Assa Abloy Group (Sweden),
Allegion Plc (Ireland),
Dormakaba Holding AG (Switzerland),
Cansec Systems Ltd. (Canada),
Salto Systems S.L. (Spain),
Kwikset (U.S.), Haven Holidays (U.K), and among others.

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.

Market Segmentation

The global smart lock market is segmented into lock type, products type, communication protocol, end users, and region. Smart locks, on the basis of type are segmented into deadbolt, lever handles, padlocks and others. The products type are segmented into Bluetooth-based smart lock, Wi-Fi-based smart lock and others. The segment communication protocol is categorized as Bluetooth, WI -Fi, ZigBee, Z-Wave, Thread, NFC, and others. The end user segment is sub-segmented as commercial, residential, institution & government, industrial and others. The region includes North America, Europe, Asia Pacific, and rest of the world.

Regional Analysis

The use of smart locks in commercial, residential, industrial, and other sectors, are gaining momentum due to its proximity-based unlocking techniques used in these locks. The companies are investing in providing smart locks embedded with biometrics, touchscreen, RFID and other advanced features. It also features the use of advanced RFID technology which is integrated with LED indicator and inbuilt buzzer. It is designed in rugged, sleek and compact way, which is gaining more demand in the smart locks market that meets the requirement of consumers at a reasonable cost.

By region, the global smart lock market is analyzed across key geographies namely North America, Europe, China, Japan, and India among others. In North America region, the smart lock is gaining demand from various sectors including commercial, residential, institution & government, industrial and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Intended Audience
• 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

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This release was published on openPR.