The global smart locks market size was US$ 2,844.5 million in 2021. The global smart locks market size is forecast to reach US$ 14,974.3 million by 2030, growing at a compound annual growth rate (CAGR) of 20.2% during the forecast period from 2022 to 2030.
A smart lock is an electronic keyless lock that uses Bluetooth or Wi-Fi connectivity to interact with other electronic devices inside the house. It is possible to control the locks with a specific electric fob or through an app on the smartphone. It is possible to send temporary keys to people, allowing them access to the home for a set period of time. Additionally, smart lock technology is easy to use and unique compared to conventional locks. Smart locks provide access control by synchronizing with a user's smartphone via IoT connectivity. As a result, smart locks are unique, dependable, and user-friendly, ensuring their market presence.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 outbreak had a positive impact on the smart lock industry. Due to the COVID-19 pandemic, the market has seen numerous opportunities since the locking unlocking procedures can be carried out using voice recognition and smartphones/smart gadgets, thereby reducing the need to touch the devices physically. These technologies allowed manufacturers to meet customer demands for touchless/contactless platforms to operate their devices, giving them a competitive advantage.
Regional Insights
North America held the largest market share in 2021 and is forecast to remain dominant over the forecast period. This is due to the high adoption of technology and growing penetration of smart homes across the United States. Customers' high spending capacity and growing concerns about security, especially in critical infrastructure applications and residential applications, have led to favorable regulatory conditions for their adoption.
The Asia Pacific is forecast to grow at a significant CAGR during the forecast period. This substantial growth can attribute to an increase in residential, commercial developments and the rising smart city initiatives in developing countries such as India. Furthermore, smart home penetration has seen significant growth across the region, which, in turn, has played a crucial role in spreading awareness regarding advanced devices and technologies.
Leading Competitors
The leading prominent companies profiled in the global smart locks market are:
Scope of the Report
The global smart locks market segmentation focuses on Product, Technology, End-User, and Region.
Segmentation based on Product
Segmentation based on Technology
Segmentation based on End-User
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SMART LOCK MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL SMART LOCK MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL SMART LOCK MARKET, BY PRODUCT
5.1 OVERVIEW
5.2 DEADBOLTS
5.3 LEVER HANDLES
5.4 PADLOCKS
5.5 OTHERS
6 GLOBAL SMART LOCK MARKET, BY TECHNOLOGY
6.1 OVERVIEW
6.2 BLUETOOTH
6.3 WI-FI
7 GLOBAL SMART LOCK MARKET, BY END-USER
7.1 OVERVIEW
7.2 RESIDENTIAL
7.3 COMMERCIAL
8 GLOBAL SMART LOCK MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL SMART LOCK MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
10 COMPANY PROFILES
10.1 AUGUST HOME
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.2 HAVEN LOCK, INCORPORATED
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.3 HONEYWELL INTERNATIONAL INCORPORATED
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.4 PANASONIC CORPORATIONS
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.5 SALTO SYSTEMS
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.6 SAMSUNG SDS CO. LIMITED
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.7 SCHLAGE
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.8. SPECTRUM BRANDS, INCORPORATED
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.9 UNIKEY TECHNOLOGIES INCORPORATED
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.10 VIVINT, INCORPORATED
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.11 MERCK KGAA
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.12 BIO-TECHNE
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
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