Global Smart Lock Market size was valued at US$ 1.87 Bn. in 2021 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn.

Market Overview

Maximize Market research, a leading global Smart Lock Market research firm, which delivers data and analysis at the global, regional and country levels has published an Smart Lock Market report. The domain expert has analysed the Smart Lock at a regional and global level.

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Market Scope

Competitive analysis of the Smart Lock Market which gives insides to new players about sharks present in the Market with their financial health, revenue, technological advancements, mergers and acquisitions, recent developments, Marketing tactics, alliances, and joint ventures.

The Smart Lock Market report consists of microanalysis with accurate illustrations, graphs and simple-to-grasp language which helps users to understand the key points and overall aspects of the industry, this report is carved using history, consumer habits, & Market volatility.

The Smart Lock Market report consists of the analysis of restraints, opportunities, challenges, and risks with the help of SWOT analysis and Porter's Five Forces analysis, which are standard & prominent full-proof methods to provide analysis of the Market.

Segmentation

The segment for deadbolts had the largest market share in terms of lock type in 2021. The expansion of this market is being driven by the expanding applications in different industries and simplicity of installation. One of the most popular styles of exterior home locks is the deadbolt. The expansion of this market is being driven by its low installation costs, excellent durability, and efficient defence against intense incursions or attacks in residential, commercial, and other verticals. Additionally, industry giants like Kwikset are expanding their selection of high-tech deadbolts with integrated features like low battery warning, one-touch locking, and personalised user codes, drawing in a sizable user base.

 

The smart lock market for the Bluetooth communication protocol segment had the biggest market share in 2021, according to communication protocol. Users can only control their Bluetooth smart locks if they are close to their residences due to the 300-foot maximum range of these devices. It is a practical technology that may be applied to a variety of tasks, such as access control, jewellery storage, and asset security.

The Touch Based section of the smart lock industry has the fastest growing unlocking mechanism in terms of unlocking method. The touch-based unlocking system for smart locks uses fingerprint recognition technology. It is quick and simple to identify and authenticate persons using their fingerprints. Modern home security systems can benefit greatly from biometric authentication, which is also a trend that is rising with the smart home movement.

Residential smart lock sales accounted for 65.7% of market revenue in 2021, according to Vertical, making it the market leader. The market expansion is primarily explained by the expanding global adoption of smart homes as well as the rise in new construction and renovation projects in the industry over the course of the projected year.

Key Players

• ASSA ABLOY (Sweden)
• Allegion plc (Ireland)
• dormakaba Group (Switzerland)
• Spectrum Brands Holdings, Inc. (U.S.)
• Salto Systems S.L. (Spain)
• Carrier (U.S.)
• Cansec Systems Ltd. (Canada)
• GANTNER Group (UAE)
• Master Lock Company LLC (U.S.)
• Master Lock Company LLC (U.S.)
• Samsung (South Korea)
• SentriLock, (U.S.)
• Avent Security (Vietnam)
• DESSMANN Schliessanlagen GmbH (Singapore)
• Haven Lock, Inc., (U.S.)
• Dahua Technology Co., Ltd (China)

Regional Analysis

The report assists in planning and implementing new strategies which are suitable and appropriately applicable according to specific countries and regions in the Market.

The detailed regional analysis provided in the report aids stakeholders, new entrants, investors, entrepreneurs, researchers, Market followers and players in an easy illustration of various elements of the Market, presenting a future outlook with expected risks and trends in the Market.

A competitive regional analysis of the Smart Lock Market was conducted listing competitors in the Market along with new entrants. A comprehensive analysis is effective to gain a comprehensive understanding of the Market structure and growth strategies of various players.

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Key Questions answered in the Smart Lock Market Report are:

  • What is Market?
  • What is the forecast period of the Market?
  • What is the competitive scenario of the Market?
  • Which region held the largest Market share in the Market?
  • What are the opportunities for the Market?
  • What factors are affecting the Market growth?
  • Who are the key players of the Market?
  • Which company held the largest share in the Market?
  • What will be the CAGR of the Market during the forecast period?
  • What key trends are likely to emerge in the Market in the coming years?

Key offerings:

  • Market Share, Size, and Forecast by Revenue|2022-2029
  • Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
  • Market Segmentation: A detailed analysis by Smart Lock
  • Landscape- Leading key players and other prominent key players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide Market-verified industry estimations, technical trend analysis, crucial Market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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