Smart Lock Market 2026 Key Information by Top Key Players: ADEL Group (China), Allegion plc (Ireland), ASSA ABLOY AB (Sweden) etc.

Smart Lock Market

A smart lock is defined as an electromechanical device that has the ability to perform unlocking and locking operations, after receiving commands from an authorized device. Smart locks can be accessed via smartphones using advanced technologies such as Wi-Fi, Zigbee, and Bluetooth. It provides remote authentication and enhances the security of the buildings.
The smart lock market has been gaining traction in the last few years owing to the rising security and safety concerns among the government, educational, and corporate sectors. However, the high costs associated with the deployment of smart lock systems and the availability of conventional alternatives hinders the market growth. The below figure shows the important features considered by the users while choosing smart lock products.

The smart lock market’s most prominent driver is the rising deployment of the smart home framework across the globe as it offers advanced features such as connectivity, voice control, and remote access. It eliminates the requirement for traditional keys, providing convenience to the users. Increasing the standard of living in the emerging economies, coupled with rising awareness regarding technological advancements, provides an impetus to the market growth. In line with this, companies are actively working to develop innovative products to increase the customer base. For instance, Netatmo, a smart home device manufacturing company, developed a smart door lock compatible with Apple’s HomeKit standard.

The advent of the smartphone has considerably transformed the user’s lifestyle, subsequently rising the adoption of various home automation technologies. For instance, Yale and August Home, a subsidiary of Assa Abloy, introduced new products to their portfolio. Similarly, Linus Smart Lock embedded the DoorSense technique to enable unlocking of doors using mobile devices. Similarly, the Wi-Fi Smart Lock developed by August Home necessitates two-layer encryption and two-factor authentication, which can be administered using the August Home and Cloud application. Recently, Danalock International ApS developed a location-based lock, where the device identifies the user’s location and unlocks the door when the user is under the GPS boundary.  

Rising incidences of burglaries and thefts across the globe are compelling the residential sector to adopt innovative mechanisms in order to ensure the utmost safety. As per the Federal Bureau of Investigation, it was reported that, in the U.S., the number of thefts and burglaries surpassed 1.4 million in 2017, subsequently increasing the demand for remote and automated access control for enhanced security of the properties.  

The commercial segment is the fastest-growing segment in the market owing to the rising penetration of smart locks across the corporate, hospitality, and healthcare sectors. In the hospitality sector, customer experience and service is a critical factor, further driving the demand for smart locks to enhance security and protection.

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The Major Prominent Players Covered in this Report:
ADEL Group (China), Allegion plc (Ireland), ASSA ABLOY AB (Sweden), Avent Security (China), Cansec Systems Ltd. (Canada), Dessmann (Germany), GANTNER Electronic GmbH (Austria), Gate (the U.S.), Haven Lock, Inc. (the U.S.), Master Lock Company LLC (the U.S.) & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Lock Type, Deadbolts, Lever handles, Padlocks
By Communication Protocol, Bluetooth, Wi-Fi, Zigbee, NFC
By Application, Commercial sector, Residential sector, Industrial sector

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Impact of the Coronavirus -
The coronavirus pandemic is estimated to reduce the smart lock installations due to decelerating export activities. The lockdown imposed across the globe has disrupted the supply chain, further hampering the market growth. However, the demand for smart locks is projected to witness significant growth on account of its rising demand across various industrial verticals, especially the commercial sector. The hospitality industry is extensively using smart locks to help the customers unlock the door without touching the surface.

Key Smart Lock Market Trends:
- The report identifies, determines, and forecasts the Global Smart Lock Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Smart Lock Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Smart Lock Market.

Recent Developments -
In 2017, ASSA ABLOY acquired August Home to expand its customer base and gain a competitive edge

In November 2018, Schlage, a lock manufacturer in the U.S., partnered with Amazon to offer smart home solutions to the customers

Key Questions Answered in The Report:
What will the Smart Lock market growth rate?
What are the key factors driving the global Smart Lock market?
Who are the key manufacturers in the Smart Lock market space?
What are the market opportunities, market risk, and market overview of the Smart Lock market?
What are sales, revenue, and price analysis of top manufacturers of the Smart Lock market?
Who are the distributors, traders, and dealers of the Smart Lock market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Smart Lock Industry?
What are sales, revenue, and price analysis by regions of Smart Lock industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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