Smart Lock Market: Detailed Study of Growth Opportunities and Key Market Players

Posted October 3, 2019 by poojapatange

Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023. Rising adoption of smartphones and other connected devices acts as a driver for the growth of the market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

• Download PDF Brochure:-
Based on lock type, Deadbolts is expected to hold a larger size of the global smart lock market

Based on communication protocol, smart lock market for Wi-Fi to grow at highest CAGR from 2017 to 2025

Smart lock market for residential vertical to grow at highest CAGR during forecast period

Research Objective

To define, describe, and forecast the smart lock market, in terms of value, on the basis of lock type, communication protocol, vertical, and geography
To forecast the market size, in terms of value, for the concerned segments with regard to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
To forecast the smart lock market, in terms of volume, on the basis of lock type
To strategically analyze the micromarkets with regard to the individual growth trends, prospects, and their contribution to the smart lock market
To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the smart lock market
To analyze opportunities in the market for stakeholders and the details of the competitive landscape for the market leaders
To provide a detailed overview of the smart lock value chain
To benchmark players in the market using proprietary “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories pertaining to the business strategies and product portfolios
To analyze competitive developments such as partnerships, acquisitions, expansions, agreements, collaborations, contracts, and product launches and developments, along with research and development (R&D) in the smart lock market
To strategically profile key players in the smart lock market and comprehensively analyze their market shares and core competencies
Smart lock market in APAC to grow at highest CAGR during forecast period

The smart lock market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to witness the increase in adoption of security systems as major countries in this region are the emerging economies with a growing number of manufacturing bases and exhibiting increasing demand for connected security devices. Further, the huge population base, a large number of research and development (R&D) activities, and increasing urbanization in APAC would drive the adoption of smart locks in APAC.

Key players in the market include ASSA ABLOY AB (Sweden), Allegion plc (Ireland), dorma+kaba Holding AG (Switzerland), Spectrum Brands Holdings, Inc. (US), Salto Systems S.L. (Spain), Onity, Inc. (US), Cansec Systems Ltd. (Canada), GANTNER Electronic GmbH (Austria), Master Lock Company LLC (US), MIWA Lock Co. (Japan), Samsung

Electronics Co., Ltd. (South Korea), SentriLock, LLC (US), Avent Security (China), ADEL Group (China), Dessmann (Germany), Haven Lock, Inc. (US), Gate (US), Shenzhen Vians Electric Lock Co., Ltd.(China), Anviz Global (US), Poly-Control International ApS (Denmark), August Home (US), CANDY HOUSE, Inc. (US), Dahua Technology Co., Ltd (China), Amadas Inc.(South Korea), and LockState (US). These players are increasingly undertaking product launches, partnerships, acquisitions, expansions, agreements, collaborations, and contracts to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Puja
Country India
Categories Government , Security , Technology
Tags smart lock market, smart lock, commercial security, residential security, security
Last Updated October 3, 2019