Wi-Fi-based Smart Locks Market : Technological Advancement & Highest Growth In The Upcoming Future

With the advent of digitalization, various devices across platforms has witnessed an undergoing change by getting connected. Such process has transformed a basic door lock in to a smart home security device enhances security with secure keyless access, user identification and even automated control of other devices around your home. Smart door locks offer sophisticated "access control" features to any home or business.

Proximity sensors like Bluetooth and NFC can enable a door to unlock whenever an authorized user's smartphone approaches. Unlike Bluetooth-enabled smart locks, that has a limited range of around 40 feet to communicate with it, Wi-Fi circuitry or a Wi-Fi bridge can be controlled from almost anywhere as long as they are connected to your home router, thus is advantageous over close proximity sensors used. At the basic level, Wi-Fi-based smart locks are basicallysegmented into two styles: deadbolts and lever-style. A deadbolt basically has a keyhole or touchpad, and requires a separate lever to actually open your door. A lever-style lock has the lever, the keyhole, and the keypad all contained in one unit. In addition, one of the feature, which is a common trend for smart locks is a built-in alarm system that will sound when someone tries to forcibly open the lock and the sensitivity of the alarm can be adjusted to suite a particular requirement.

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Increasing standards of living, growing IoT applications across regions, increasing demand for smartphones, ease of installation and growing presence of low-cost smart locks systems are some of the drivers that are expected to boost the growth of Wi-fi-based smart locks market. Increasing concern for safety and security is anticipated to hinder the growth of Wi-fi-based smart locks market to a certain extent. Currently North America accounts for the largest share of the global Wi-fi-based smart locks market and other regions such as Asia-pacific is anticipated to grow at a high CAGR during the forecast period. Number of start-up have emerged worldwide and are focusing on tapping into the home automation platforms with diversified portfolio and using online platforms to reach out to a wider set of audience.

The global Wi-Fi-based Smart Locks market can be segmented on the basis of product type, application and region. On the basis ofproduct type, the global Wi-Fi-based Smart Locks market can be segmented into deadbolts and lever-style locks. On the basis of application, the global Wi-Fi-based Smart Locks market can be segmented into households and commercial.On the basis of region, the global Wi-Fi-based Smart Locks market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.

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Some of the key players in the global Wi-Fi-based Smart Locks market include August Home, Goji, UniKey, Yale, Danalock, Lockitron Bolt, RemoteLock, Haven, Sesame, Kwikset, LOCKSTATEamong others.

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