Smart Door Lock Market Overview, Sales, Opportunities, Supply, Growth Analysis, Trends, Forecast 2022-2028- Report By IMR

Market Overview:

The Global Smart Door Lock Market size is projected to reach USD 4.835 billion by 2028 from an estimated USD 1.64 billion in 2021, growing at a CAGR of 16.7%.

Smart door locks are automatic door locks that may be operated through a variety of mobile apps. Typically, they are Bluetooth and WIFI-enabled keyless locks. Real-time data regarding a person's door access can be provided through smart locks. Additionally, biometric and electromagnetic sensors will be used to operate them. Door locks have advanced technologically, which helps to reduce real entry into homes or offices. A smart lock is a mechanical gadget with built-in Wi-Fi or Bluetooth that enables users to remotely unlock their devices. They require more extensive customization options and improved security measures. It occasionally enables users to view its device in any way.

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Market Dynamics:

Driver:
When compared to 2019, the number of people using smartphones increased by about 10% in 2020. This growing acceptance has resulted in a significant reliance on smartphones and mobile apps to perform critical tasks. Well-known market players have incorporated a number of innovative technologies into their smart lock models, such as Wi-Fi-enabled lock / unlock and Bluetooth-based (BLE) lock / unlock on smartphones and other devices. A touch panel is also included to help with password entry and pattern-based locking and unlocking. The growing global acceptance of smart homes, as well as the influx of companies developing innovative home automation technologies, are driving up demand for smart locks support for market growth.

Opportunities:
With the advancement of technologies such as IoT and smart devices integrated into security systems, the Smart Door Lock Market presents a significant opportunity. Many IoT devices have been developed to improve daily life in order to realize the Internet of Things (IoT) vision, with smart home devices being the most popular. Smart locks use smartphones to manage physical keys and track door open/closing status. Smart lock security and IoT security provide seamless security with the fort-like impregnable security standard, which is a top priority for IoT environments. This technology offers the opportunity for the growth of the market.

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Market Segmentation

By Type, The deadbolt segment is expected to continue to dominate the industry during the forecast period, with the highest share of sales of over 47% in 2020.

By Application, Residential is the dominating in the application segment for the smart door lock market. High levels of revenue generation are primarily due to the increasing

By Type
• Deadbolt
• Lever Handles
• Padlock
• Others

By Application
• Residential
• Hospitality
• Enterprise
• Critical
• Infrastructure
• Others

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Regional Analysis for the Smart Door Lock Market:
North America is dominating in Smart Door Lock Market with the largest market share of over 42% in 2020 and maintains its dominance over the forecast period. This is mainly due to the introduction of high tech in the United States and the proliferation of smart homes. About 30% of broadband households in the United States will purchase smart locks by the end of 2021. The high purchasing power of customers and the growing security concerns of critical infrastructure and residential applications have created regulatory scenarios that are suitable for customer deployment.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Smart Door Lock market are :
• Master Lock
• Onity
• Salto Systems
• Allegion
• Cansec Systems
• ASSA ABLOY AB
• Honeywell
• Haven Lock
• Spectrum brands
• Yale and other major players.

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Key Industry Developments in the Smart Door Lock Market:

August 2020, ASSA ABLOY acquired Access IS which is a UK-based company and leading manufacturer of advanced lock solutions based on electronic RFID, NFC, and barcode devices.

In September 2020, Latchable Inc launched LatchOS which is an operating system for smart locks. The OS provides customizable smart building solutions in vast residential and commercial applications.

Table OF Content: -
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  3.5.1 Drivers
  3.5.2 Restraints
  3.5.3 Opportunities
  3.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 4: Smart Door Lock Market by Type
 4.1 Smart Door Lock Market Overview Snapshot and Growth Engine
 4.2 Smart Door Lock Market Overview
 4.3 Deadbolt
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size (2016-2028F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Deadbolt: Grographic Segmentation
 4.4 Lever Handles
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size (2016-2028F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Lever Handles: Grographic Segmentation
 4.5 Padlock
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size (2016-2028F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Padlock: Grographic Segmentation
 4.6 Others
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size (2016-2028F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Others: Grographic Segmentation

Chapter 5: Smart Door Lock Market by Application
To Be Continue…

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