Smart Lock Market to Grow to US$11.92 Billion by 2032, Expanding at 18.10% CAGR

Smart Lock Market
𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐦𝐚𝐫𝐭 𝐥𝐨𝐜𝐤 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 𝟐.𝟔𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. 𝐓𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐞𝐱𝐩𝐚𝐧𝐝 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟖.𝟏𝟎% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 𝟏𝟏.𝟗𝟐 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐.

𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
A smart lock provides homeowners the possibility to distantly regulate and observe who is approaching and going through the door through a smartphone, offering conclusive regulation over their home security. Parallel to providing keyless entry to the home, elevated standard smart locks on the market also permit homeowners to effortlessly provide virtual keys to family, friends, and committed service experts. This convenient operation permits homeowners to have total regulation over who approaches their front door through a smartphone app, sanctioning they can repeal virtual keys as speedily as they were generated.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/smart-locks-market/request-for-sample

𝐆𝐫𝐨𝐰𝐭𝐡 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
Progressions in nanotechnology, bioelectronics sensors, and connected fields are anticipated to drive up the smart lock market demand. Moreover, critical manufacturers are making notable funding in embracing Power over Ethernet (PoE) and NFC Technology with Artificial Intelligence in the present smart lock system advancements.

𝐊𝐞𝐲 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬:
Some of the major players participating in the smart lock market are:
• August Home, Inc.
• Avent Security
• Cansec Systems Ltd.
• Goji
• HavenLock, Inc.
• Honeywell International Inc.
• Kwikset
• MUL-T-LOCK TECHNOLOGIES LTD.
• Onity Inc.
• Schlage
• Sentrilock, LLC
• Smart Locking Logic Proprietary Limited
• UniKey Technologies, Inc.
• Yale Lock
• Zigbang Co., Ltd.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/smart-locks-market/request-for-discount-pricing

𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐖𝐢𝐬𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
 North America
o U.S.
o Canada
 Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Netherlands
 Asia Pacific
o China
o India
o Japan
o South Korea
o Indonesia
o Malaysia
 Latin America
o Argentina
o Brazil
o Mexico
 Middle East & Africa
o UAE
o Saudi Arabia
o Israel
o South Africa

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:
The smart lock analysis is mainly based on product, technology, authentication method, application, and region. Based on product, the deadbolt segment witnesses the fastest growth. Also, according to the product, the lever handle segment holds a significant revenue share. The improvement of safety measures for tourists through facelift enterprises in the hospitality sector is expected to drive growth. Within commercials, smart handle levers are normally utilized in interior doors. These handles differentiate themselves from contenders by providing instant locking and unlocking techniques, such as the push-down style handle, as contrasted to the knob, which carries seizing and turning.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/smart-locks-market

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:
• In March 2023, HavenLock Inc., a veteran-owned company based in Tennessee and renowned for its innovative Haven Lockdown System, unveiled the Power G version of its smart locking system. Specifically designed for schools and commercial environments, the Power G model aims to enhance security by offering advanced locking solutions for high-risk areas. This development builds on the company's commitment to providing robust security systems.

• In February 2023, Sentrilock, LLC, a leading provider of electronic lockbox solutions for the real estate industry, announced a strategic partnership with the Chesapeake Bay and Rivers Association of REALTORS® (CBRAR). This collaboration seeks to create a cutting-edge marketplace for smart electronic lockbox solutions, catering to the evolving needs of real estate professionals. By combining Sentrilock's advanced technology with CBRAR's regional expertise, this partnership is set to reshape the landscape of real estate transactions.

• In December 2022, ASSA ABLOY Group acquired Janam Technologies, a prominent provider of handheld readers and mobile computers. This acquisition allows ASSA ABLOY to expand its smart lock solutions portfolio, integrating advanced handheld devices capable of scanning RFID tickets and barcodes. This move is part of the company's strategy to enhance its offerings in the access control and security sector, providing more integrated solutions for its customers.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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