Smart Lock Market 2019 Top Key Players, Trends, Competitive And Regional Forecast To 2023

Global Smart Lock Market, By Lock Type (Deadbolt, Lever Handles, Padlocks), Products Type (Bluetooth-Based, Wi-Fi-Based), by Communication Protocol, by End User - Forecast Till 2023

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Market Highlights:

The report published by Market research Future (MRFR) projects that the global smart lock market is marked to exhibit significant expansion at a CAGR of 11% during the forecast period of 2017-2023 and reach the market valuation of USD 2 Bn by the end of the assessment period. Rapid adoption of technologically advanced security and safety solutions in the developed and developing regions are majorly propelling the expansion of the global smart lock market. Increased reliance on biometric security systems as a result of increased criminal activities and rise in popularity of smart homes that are equipped with smart solutions are also fueling the growth of the global smart lock market. However, high cost and complexities related to the calibration of systems are restraining the growth of the global smart lock market during the assessment period.

Companies such The Assa Abloy Group (Sweden), Allegion Plc. (Ireland), Dormakaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (U.S), Salto Systems S.L. (Spain), are the leading providers of smart lock in the global market. In 2017, The Assa Abloy Group has acquired August Home, a leading provider of smart locks in the market. With this acquisition, companies have strengthen their smart locks integrated with sensors and two generations of digital doorbells.

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Major Key Players:

The Assa Abloy Group (Sweden),
Allegion Plc (Ireland),
Dormakaba Holding AG (Switzerland),
Spectrum Brands Holdings, Inc. (U.S.),
Salto Systems S.L. (Spain),
Onity Inc. (U.S.),
Cansec Systems Ltd. (Canada),
Master Lock (U.S.),
August, Inc. (U.S.),
Kwikset (U.S.),
Haven Holidays (U.K),

According to the Market Research Future analysis, the global Smart Lock Market has been valued at USD ~2 billion by the end of forecast period at a CAGR of ~11% during forecast period 2017-2023.

Latest Industry News

In January 2019, Altro has launched a smart lock that offers keyless control of deadbolt along with the function of video doorbell that has two-way audio.

In January 2019, Yale and Emtek, two smart lock companies under the lock conglomerate Assa Abloy, has announced that they will be launching new smart door locks that directly use August's software without any external hardware.

In January 2019, Schlage has announced that it will add its newly launched smart lock to its expanding line of Amazon Key compatible smart locks.

In January 2019, ELECPRO GROUP INC., the leading developer of smart locks, will be launching their highly advanced smart lock at CES product show.

Market Segmentation:

The smart lock market is segmented into products type, lock type, end user, communication protocol, and region. The locks type is segmented into lever handles, padlocks, deadbolt, and others. The products type segment of the market comprises of Wi-Fi-based smart lock, Bluetooth-based smart lock and others. The communication protocol segment of the smart lock market comprises of ZigBee, WI-Fi, Bluetooth, Z-Wave, NFC, Thread and others. The end-users’ segment of the market comprises of commercial, institution & government, residential, industrial and others. The market spans regions such as Europe, North America, Asia Pacific, and the rest of the world.

Regional Analysis:

The regional analysis of smart lock market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading regions across the world in terms of market share. The smart lock market in this region has a huge demand due to increase in the sales of security systems propelling the market growth to a large extent. The smart lock market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia Pacific countries such as China, Japan, and India is an emerging market for smart lock market is expected to be the highest CAGR in the coming years due to increasing focus of various key players on targeting the smart lock in these market to meet the requirement of customers’ security need.

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Intended Audience

Smart lock companies
Smart lock providers
Technical universities
System integrators
Managed Security Service Providers
Professional service providers
Research and development companies
Market research and consulting firms
Solution providers
Technology standards organizations
Technology investors
System Integrators


Table 1 World Population by Major Regions (2017 To 2030)

Table 2 Global Smart Lock Market: By Region, 2017-2023

Table 3 North America Smart Lock Market: By Country, 2017-2023

Table 4 Europe Smart Lock Market: By Country, 2017-2023

Table 5 Asia-Pacific Smart Lock Market: By Country, 2017-2023

Table 6 Middle East & Africa Smart Lock Market: By Country, 2017-2023



FIGURE 1 Global Smart Lock market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Smart Lock Market

FIGURE 4 Value Chain of Global Smart Lock Market

FIGURE 5 Share of Global Smart Lock Market in 2017, by country (in %)


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