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PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1123202

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PUBLISHER: Orion Market Research Pvt Ltd | PRODUCT CODE: 1123202

Global Smart Locks Market Research and Forecast 2022-2028

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Global Smart Locks Market Size, Share & Trends Analysis Report By Type (Padlocks, Lever Handles, Deadbolts, and Others) By Communication Protocol (Bluetooth, Wi-Fi, and Others) By Application (Residential, Government, and Commercial) Forecast 2021-2027

The global market for smart locks is projected to have a CAGR of around 10.2% during the forecast period. A smart lock is an electro-mechanical lock, designed for performing locking and unlocking operations on a door on receiving such instructions from an authorized device. The instructions are provided using a wireless protocol and a cryptographic key for executing the authorization process. In addition, it monitors access and sends alerts for the different events it monitors and some other critical events regarding the status of the device. The factors such as the growing adoption of smart devices such as smartphones, the rise of IoT based security solutions, growing home monitoring from a remote location, and increase in consumer awareness regarding security systems drives the growth of the global smart lock market. The rise in urbanization, growing demands for home automation further anticipated to boost the market growth. The privacy and security issues related to smart locks further hinders the growth of the market. However, the introduction of smart security systems by market players and growth in the IoT industry provides significant opportunity in the global smart lock market.

The Impact of COVID-19 on the global smart locks market. The global smart lock market has been disrupted by the COVID-19 global pandemic. The major economies implemented the lockdown due to social distancing norms, additionally, the transportation and other essential facilities were also put on hold. In the emerging economies such as China, India, and the US the residential and commercial construction projects were stopped due to which the decline in the smart lock in new buildings and commercial sector has been noticed. After COVID-19, the market will be expected to grow due to the growth of the construction sector in these major economies.

Segmental Outlook

The global smart locks market is analyzed based on type, communication protocol, and application. On the basis of type, the market is further classified into padlocks, lever handles, deadbolts, and others. On the basis of communication protocols, the market is further categorized into Bluetooth, Wi-Fi, and others. Among these, the Wi-Fi segment in the smart lock market is expected to grow at the highest CAGR during the forecast period owing to its accessibility from various devices such as smartphones, laptops, and tablets. Besides, the wireless connectivity and high-speed features of these systems increase their use in home automation systems. On the other hand, based on application, the market is sub-segmented into residential, government, and commercial.

Global Smart Lock Market Share by Application, 2020 (%)

Global Smart Lock Market Share by Application

The residential segment is projected to grow significantly in the global smart locks market

Based on application, the residential segment is projected to grow at a significant CAGR during the forecast period. The rising demand for home automation creates the demand for advanced and smart security solution such as smart locks which are incorporated with advanced communication protocols. These communication protocols such as Wi-Fi- Bluetooth, and ZigBee enables users to grant access to their locks directly from their phones and the convenience of automatically unlocking the door without having to reach for keys. The adoption of these communication protocols/ technologies used for building home automation systems will create the demand for smart lock in the market. With the increase in urbanization and demand for home, automation owing to the security features such as auto-locking, remote password setting, and unauthorized access coupled with them will lead to the growth of the global smart lock market.

Regional Outlook

Geographically, the global smart locks market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, North America is projected to have a significant market share in the global smart locks market. The regional growth is augmented by the increasing security concern in residential and commercial sectors. The advancement in technological infrastructure, rising awareness level, increasing IoT based security solution are other factors propelling the market growth in the region. The US is a dominant country in the region, which holds the largest share in the North American smart locks market.

Global Smart Locks Market Growth, by Region 2021-2027

Global Smart Locks Market Growth, by Region

Asia-Pacific is projected to have significant growth in the smart locks market

Geographically, Asia-Pacific is anticipated to grow at a significant CAGR during the forecast period. The increase in residential and commercial projects developments coupled with smart lock systems is anticipated to fuel the market growth. Further, the growing number of manufacturing units, growing R&D activities, huge population base and rapid urbanizations in the region drives the growth of the market. The adoption of home automation systems has to gain high popularity in the region, which is further enhanced the growth of the market. on the other hand, smart security solutions coupled with wireless technologies such as ZigBee, Wi-Fi, and Bluetooth are widely used for building home automation system, which is another major reason behind the regional growth.

Market Players Outlook

The key players in the global smart locks market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market are Assa Abloy AN, Allegion plc, Dormakaba Holding AG, Spectrum Brands Holdings, Inc, Salto Systems S.L, Onity, Inc., Cansec Systems Ltd., Master Lock Company LLC, Samsung Electronics Co., Ltd., among others. To remain competitive in the market and to generate major revenue, these market players adopt different marketing strategies such as mergers and acquisitions, R&D, product launches, partnership collaboration, and geographical expansions so on. For instance, in October 2020, SALTO Systems, a manufacturer in electronic access control solutions had acquired Gantner Electronic Austria Holding GmbH to expand its product portfolio in electronic access control systems.

The Report Covers

Market value data analysis of 2020 and forecast to 2027.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global smart locks market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2018312

Table of Contents

1. Report Summary

  • Current Industry Analysis and Growth Potential Outlook
  • Impact of COVID-19 on the Global Smart Locks Industry
  • Recovery Scenario of Global Smart Locks Industry
  • 1.1. Research Methods and Tools
  • 1.2. Market Breakdown
    • 1.2.1. By Segments
    • 1.2.2. By Geography

2. Market Overview and Insights

  • 2.1. Scope of the Report
  • 2.2. Analyst Insight & Current Market Trends
    • 2.2.1. Key Findings
    • 2.2.2. Recommendations
    • 2.2.3. Conclusion

3. Competitive Landscape

  • 3.1. Key Company Analysis
    • 3.1.1. Overview
    • 3.1.2. Financial Analysis
    • 3.1.3. SWOT Analysis
  • 3.2. Key Strategy Analysis
  • 3.3. Impact of COVID-19on key players

4. Market Determinants

  • 4.1. Motivators
  • 4.2. Restraints
  • 4.3. Opportunities

5. Market Segmentation

  • 5.1. Global Smart Locks Market, By Type
    • 5.1.1. Pad Locks
    • 5.1.2. Lever Handles
    • 5.1.3. Deadbolts
    • 5.1.4. Others (Rim Latch Lock, Knob Lock)
  • 5.2. Global Smart Locks Market, By Communication Protocol
    • 5.2.1. Bluetooth
    • 5.2.2. Wi-Fi
    • 5.2.3. Others (Zigbee, Z-Wave)
  • 5.3. Global Smart Locks Market, By Application
    • 5.3.1. Residential
    • 5.3.2. Government
    • 5.3.3. Commercial

6. Regional Analysis

  • 6.1. North America
    • 6.1.1. United States
    • 6.1.2. Canada
  • 6.2. Europe
    • 6.2.1. UK
    • 6.2.2. Germany
    • 6.2.3. Italy
    • 6.2.4. Spain
    • 6.2.5. France
    • 6.2.6. Russia
    • 6.2.7. Rest of Europe
  • 6.3. Asia-Pacific
    • 6.3.1. China
    • 6.3.2. India
    • 6.3.3. Japan
    • 6.3.4. South Korea
    • 6.3.5. Rest of Asia-Pacific
  • 6.4. Rest of the World
    • 6.4.1. Latin America
    • 6.4.2. Middle East Africa

7. Company Profiles

  • 7.1. Assa Abloy AB
  • 7.2. Allegion plc
  • 7.3. Cansec Systems Ltd.
  • 7.4. Candy House Inc.
  • 7.5. Dahua Technology Co., Ltd.
  • 7.6. Dessmann Schliessanlagen GmbH
  • 7.7. Dormakaba Holdings AG,
  • 7.8. Hangzhou Hikvision Digital Technology Co., Ltd.
  • 7.9. Kwikset Corp.
  • 7.10. Master Lock Company LLC.
  • 7.11. MIWA Lock Co. Ltd.
  • 7.12. Onity, Inc.
  • 7.13. Salto system S.L
  • 7.14. Samsung Electronics Co., Ltd.
  • 7.15. SentriLock, LLC
  • 7.16. Shenzhen Vians Electric Lock Co., Ltd.
  • 7.17. Spectrum Brands Holdings, Inc.
  • 7.18. UniKey Technologies, Inc.
Product Code: OMR2018312

LIST OF TABLES

  • 1. GLOBAL SMART LOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
  • 2. GLOBAL PADLOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 3. GLOBAL LEVER HANDLES MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 4. GLOBAL DEADBOLTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 5. GLOBAL OTHER SMART LOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 6. GLOBAL SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COMMUNICATION PROTOCOL, 2020-2027 ($ MILLION)
  • 7. GLOBAL BLUETOOTH BASED SMART LOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 8. GLOBAL WI-FI BASED SMART LOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 9. GLOBAL OTHERS PROTOCOL BASED SMART LOCKS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 10. GLOBAL SMART LOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
  • 11. GLOBAL SMART LOCKS FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 12. GLOBAL SMART LOCKS FOR GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 13. GLOBAL SMART LOCKS FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
  • 14. GLOBAL SMART LOCKS FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
  • 15. NORTH AMERICAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
  • 16. NORTH AMERICAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
  • 17. NORTH AMERICAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COMMUNICATION PROTOCOL, 2020-2027 ($ MILLION)
  • 18. NORTH AMERICAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
  • 19. EUROPEAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
  • 20. EUROPEAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
  • 21. EUROPEAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COMMUNICATION PROTOCOL, 2020-2027 ($ MILLION)
  • 22. EUROPEAN SMART LOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
  • 23. ASIA-PACIFIC SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
  • 24. ASIA-PACIFIC SMART LOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
  • 25. ASIA-PACIFIC SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COMMUNICATION PROTOCOL, 2020-2027 ($ MILLION)
  • 26. ASIA-PACIFIC SMART LOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)
  • 27. REST OF THE WORLD SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
  • 28. REST OF THE WORLD SMART LOCKS MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
  • 29. REST OF THE WORLD SMART LOCKS MARKET RESEARCH AND ANALYSIS BY COMMUNICATION PROTOCOL, 2020-2027 ($ MILLION)
  • 30. REST OF THE WORLD SMART LOCKS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2020-2027 ($ MILLION)

LIST OF FIGURES

1. IMPACT OF COVID-19 ON GLOBAL SMART LOCKS MARKET, 2020-2027 (% MILLION)

2. IMPACT OF COVID-19 ON GLOBAL SMART LOCKS MARKET BY SEGMENT, 2020-2027 (% MILLION)

  • 3. RECOVERY OF GLOBAL SMART LOCKS MARKET, 2020-2027 (%)
  • 4. GLOBAL SMART LOCKS MARKET SHARE BY TYPE, 2020 VS 2027 (%)
  • 5. GLOBAL SMART LOCKS MARKET SHARE BY COMMUNICATION PROTOCOL, 2020 VS 2027 (%)
  • 6. GLOBAL SMART LOCKS MARKET SHARE BY APPLICATION, 2020 VS 2027 (%)
  • 7. GLOBAL SMART LOCKS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
  • 8. GLOBAL PADLOCKS SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 9. GLOBAL LEVER HANDLES SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 10. GLOBAL DEADBOLTS SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 11. GLOBAL BLUETOOTH BASED SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 12. GLOBAL WI-FI BASED SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 13. GLOBAL OTHER PROTOCOL BASED SMART LOCKS MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 14. GLOBAL SMART LOCKS FOR RESIDENTIAL MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 15. GLOBAL SMART LOCKS FOR GOVERNMENT MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 16. GLOBAL SMART LOCKS IN COMMERCIAL MARKET SHARE BY REGION, 2020-2027 ($ MILLION)
  • 17. US SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 18. CANADA SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 19. UK SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 20. FRANCE SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 21. GERMANY SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 22. ITALY SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 23. SPAIN SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 24. RUSSIA SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 25. REST OF EUROPE SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 26. INDIA SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 27. CHINA SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 28. JAPAN SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 29. SOUTH KOREA SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)
  • 30. REST OF ASIA-PACIFIC SMART LOCKS MARKET SIZE, 2020-2027 ($ MILLION)

31. REST OF THE WORLD SMART LOCKS MARKET SIZE, 2020-2027($ MILLION

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Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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