US Smart Lock Market to see Rapid Growth by 2025

The US Smart Lock is anticipated to grow at a CAGR 10.4% during the forecast period. The US smart lock market has a significant potential growth due to adoption of smart homes and increasing safety concerns coupled with increasing crime rates. According to the World Bank, United States is the largest economy in the World. The GDP of US was estimated to be about $18.5 trillion in the year 2016. The well-established economy of the country laid the ground for growth of the smart locks market.

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The smart locks can be operated by the smartphone with the help of electronic key. Smartphone can be connected by the different technologies such as Bluetooth and Wi-Fi. Through application on smartphone the user can send and receive the electronic key on smartphone. The increasing smartphone penetration is contributing in the growth of the smart locks market in the US. The increasing crime rate is increasing the need of security and surveillance devices in the nation. The US is facing an increasing crime rate and in many of the nation's largest cities saw increase in homicide, robbery and aggravated assault. The country is facing high violent crime rate, robbery and burglary rate.

US Smart Lock Market Segmentation

By Communication Protocol

· Bluetooth

· Wi-Fi

· Others

By Application

· Residential

· Government

· Commercial

By Type

· PadLocks

· Lever Handles

· Deadbolts

· Others

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Company Profiles

· August Smart lock

· Candy House Inc.

· Cansec Systems Ltd.

· HavenLock Inc.

· Kwikset Corp.

· Master locks Co.

· MIWA Lock Co., Ltd.

· Onity Inc.

· Schlage

· Sentrilock LLC

· Spectrum Brands Holdings, Inc.

· UniKey Technologies

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