What is the global market size of Smart Lock Market?

Global Smart Lock Market size was valued at USD 1.87 billion in 2021, and it is expected to reach a value of USD 4.36 billion by 2028, at a CAGR of more than 12.84% over the forecast period (2022-2028). Read More

Who are the key vendors in the Global Smart Lock Market?

The smart lock Market is consolidated because the market is still in its infancy, with fewer adoptions worldwide. However, due to the growing demand for home and building security, the market presents numerous growth opportunities for smart lock providers. As a result, market participants are constantly innovating to provide innovative products in the market in order to gain maximum market traction during the forecast period.'ASSA ABLOY (Sweden)','Samsung Group (South Korea)','Panasonic Corporation (Japan)','Guangdong Be-Tech Security Systems (China)','Honeywell International, Inc. (US)','DESSMANN (China)','The Chamberlain Group, Inc. (US)','Kaadas (Australia)','Masterlock (US)','August Home (US)','Kwikset (US)','Techlicious LLC. (US)','Godrej Group (India)','Adel Marketing (M) Sdn. Bhd. (Malaysia)','SCHLAGE (US)','HavenLock, Inc. (US)','YALE (US)','Xiaomi Corporation (China)','Latchable, Inc. (US)' Read More

Smart Lock Market Size, Share, Growth Analysis, By Lock Type(Deadbolt Locks, Lever Handles), By Communication Protocol(Bluetooth, WiFi), By Unlocking Mechanism(Keypad, Card Keys, Touch Based), By Vertical(Residential, Commercial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45J2159 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 114 | Figures: 77

Smart Lock Market Regional Insights

The global smart lock market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America had the largest market share in 2021 and is expected to grow significantly over the next seven years as smart lock technology advances. This is primarily due to widespread technological adoption and the rapid growth of smart homes in the US. Customers' high spending power, combined with growing safety concerns, particularly in critical infrastructure and domestic applications, has resulted in a regulatory environment that encourages their adoption.

During the forecast period, the smart lock market in APAC is expected to grow at the fastest CAGR. The large population base, extensive ongoing research and development (R&D), and rising urbanisation are expected to drive the adoption of smart locks in APAC. Furthermore, rising terrorist threats and crime rates, as well as a low police-to-population ratio in APAC countries, are expected to drive up demand for smart locks.

Smart Lock Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Smart Lock Market size was valued at USD 1861.15 million in 2019 and is poised to grow from USD 2077.24 million in 2023 to USD 4962.32 million by 2031, growing at a CAGR of 11.5% in the forecast period (2024-2031).

The smart lock Market is consolidated because the market is still in its infancy, with fewer adoptions worldwide. However, due to the growing demand for home and building security, the market presents numerous growth opportunities for smart lock providers. As a result, market participants are constantly innovating to provide innovative products in the market in order to gain maximum market traction during the forecast period. 'August Home Inc.', 'ASSA ABLOY AB', 'Danalock International AS', 'Friday Home', 'Gate Labs Inc.', 'Haven Lock Inc.', 'Honeywell International Inc.', 'Kwikset Corporation', 'Lockitron', 'Nuki Home Solutions GmbH', 'Okidokeys', 'Panasonic Corporation', 'Samsung Group', 'Schlage', 'Securemote AG', 'Sesame Enable Ltd.', 'SimpliSafe Inc.', 'Ultraloq Inc.', 'Unikey Technologies Inc.', 'Yale Locks & Hardware'

A major factor driving the rapid adoption of smart locks is the growing concern for security. Smart locks have evolved to provide efficient and user-friendly services since their inception. Because of their high efficiency and sophistication, they have been deployed in a variety of locations to improve security. Individual homes, condominiums, hotels, retail stores, banks and financial institutions, corporate buildings, and commercial buildings all have an increasing need for identification and authentication.

The introduction of new products into the market may have a significant impact on the occurrence and nature of competitive reactions. Fortunately, a security technology company for homes, offices, and personal items based in California, United States, launched the Lockley Secure Pro in May 2019. The patented PIN Genie software was used to create this smart lock solution. The device also has a 3D biometric fingerprint sensor and is Alexa and Google Assistant compatible.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Smart Lock Market Size, Share, Growth Analysis, By Lock Type(Deadbolt Locks, Lever Handles), By Communication Protocol(Bluetooth, WiFi), By Unlocking Mechanism(Keypad, Card Keys, Touch Based), By Vertical(Residential, Commercial), By Region - Industry Forecast 2024-2031

Smart Lock Market Regional Insights

Smart Lock Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Smart Lock Market?

Who are the key vendors in the Smart Lock Market?

What is the key driver of Smart Lock Market?

What is the key market trend for Smart Lock Market?

Which region accounted for the largest share in Smart Lock Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300