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Global Smart Lock Market

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    Report

  • 679 Pages
  • January 2024
  • Region: Global
  • Astute Analytica
  • ID: 5969513
Description Jump to:

Global Smart Lock Market: Expanding to US$ 13.14 Bn by 2030 with a CAGR of 11.7%

The Global Smart Lock Market is set for remarkable growth, forecasted to expand from US$ 6.33 Bn in 2023 to US$ 13.14 Bn by 2030, progressing at a CAGR of 11.7%. In terms of volume, the market recorded 24.02 million units in 2023, highlighting a rising trend in smart security solutions.

Growth Influencers:

The market's robust growth is primarily driven by the growing trend of the Internet of Things (IoT) and rising consumer awareness about the benefits of advanced security systems. Smart locks are becoming increasingly popular for their convenience and enhanced security features. However, the market faces challenges due to the high costs associated with smart locks, which could impede its widespread adoption.

Segment Overview:

The smart lock market is segmented by lock mechanism, technology, and application.

By Lock Mechanism

  • Deadbolts
  • Lever Handles
  • Padlocks
  • Other Locks
  • Knob locks
  • Rim/mortise locks
  • Rim latch locks

By Technology

  • Keypad
  • Smart Card
  • Biometric
  • Wireless (includes Smartphone/ App based)

By Application

  • Commercial
  • Industrial
  • Residential
  • Government Institution
  • Others
Deadbolts dominate with over 36% share in 2023, while Lever Handles are witnessing the fastest growth. In terms of technology, Smart Card technology leads, holding more than 38% market share. The Residential sector emerges as a significant application area, generating revenue exceeding US$ 2.3 Bn in 2023. Geographically, North America holds the largest market share of over 34%, while Asia Pacific displays the highest CAGR of 13.45%.

Regional Overview:

North America, with its robust technological infrastructure and high consumer spending power, leads the market. The US, Canada, and Mexico are key contributors in this region. Asia Pacific, led by countries like China, India, and Japan, is the fastest-growing region, showing a high adoption rate of smart lock technologies due to increasing security concerns and technological advancements. On the bases of region market has been segmented in to following:

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Aus & NZ
  • ASEAN
  • Rest of APAC
  • Rest of The World
  • GCC
  • South Africa
  • Brazil
  • Argentina
  • Rest of ME & SA

Company Profile:

The market comprises major players like Allegion plc, ASSA ABLOY AB, Samsung Electronics Co., Ltd., and Spectrum Brands Holdings, Inc. These companies, among others, play a pivotal role in shaping market trends through innovations and strategic developments. Below are the list of companies profile in this report:

  • Allegion plc
  • ASSA ABLOY AB
  • Aventsecurity
  • Cansec Systems Ltd.
  • GANTNER Electronic GmbH
  • Haven Lock, Inc.
  • Master Lock Company LLC
  • MIWA Lock Co.
  • Mul-T-Lock
  • Okidokeys
  • Onity, Inc.
  • Salto Systems S.L.
  • Samsung Electronics Co., Ltd.
  • SDS Smart Locks
  • SentriLock
  • Shenzhen Vians Electric Lock Co., Ltd.
  • Spectrum Brands Holdings, Inc.
  • UniKey Technologies Inc.
  • Weiser
  • Wyze Labs, Inc
  • Other Prominent Players

Value Addition:

The report provides an extensive overview of the smart lock market, detailing various lock mechanisms and market standards. It offers insights into evolving market dynamics and consumer preferences, underlining the potential and challenges in the smart lock industry.

Report Insights:

  • Projected market growth to US$ 13.14 Bn by 2030 with a CAGR of 11.7%.
  • IoT trends and consumer awareness driving market growth.
North America leads the market, with Asia Pacific showing the highest growth rate.
  • Deadbolts and Smart Card technologies are key market segments.

Questions to be Answered:

  • What are the driving factors for the global smart lock market?
  • Which segments are contributing significantly to market growth?
  • How are different regions performing in the smart lock market?
  • What are the market challenges and how are key players responding?

Table of Contents

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Smart Lock Market
Chapter 4. Global Smart Lock Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Distributor
4.1.4. End users
4.2. Industry Outlook
4.2.1. Lock Mechanisms in the market
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Market Volume Estimates and Forecast ('000 Units), 2017 - 2030
4.7.3. Price Trend Analysis, By Lock Mechanism
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2021
4.8.3. Competitor Mapping
4.8.4. Regulatory Compliance
Chapter 5. Smart Lock Market Analysis, By Lock Mechanism
5.1. Key Insights5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
5.2.1. Deadbolts
5.2.2. Lever Handles
5.2.3. Padlocks
5.2.4. Other Locks
5.2.4.1. Knob locks
5.2.4.2. Rim/mortise locks
5.2.4.3. Rim latch locks
Chapter 6. Smart Lock Market Analysis, By Technology
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units) 6.2.1. Keypad
6.2.2. Smart Card
6.2.3. Biometric
6.2.4. Wireless (includes Smartphone/ App based)
6.2.4.1. Bluetooth
6.2.4.2. Wi-Fi
6.2.4.3. Others
6.2.4.3.1. Z-wave
6.2.4.3.2. ZigBee
6.2.4.3.3. Thread
6.2.4.3.4. NFC
6.2.4.3.4. Others (EnOcean, KNX, Insteon etc)
Chapter 7. Smart Lock Market Analysis, By Application
7.1. Key Insights7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
7.2.1. Commercial
7.2.1.1. Retail stores and malls
7.2.1.2. Hospitality
7.2.1.3. Corporate
7.2.1.4. Healthcare
7.2.2. Industrial
7.2.2.1. Oil & gas
7.2.2.2. Manufacturing
7.2.2.3. Energy & power
7.2.2.4. Transportation
7.2.2.5. Logistics
7.2.2.6. Others
7.2.3. Residential
7.2.3.1. Condominium
7.2.3.2. Individual houses
7.2.4. Government Institution
7.2.5. Others
Chapter 8. Smart Lock Market Analysis, By Region/Country
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
8.2.1. North America
8.2.1.1. The U.S. 8.2.1.2. Canada
8.2.1.3. Mexico
8.2.2. Europe
8.2.2.1. The UK
8.2.2.2. Germany
8.2.2.3. France
8.2.2.4. Italy
8.2.2.5. Spain
8.2.2.6. Poland
8.2.2.7. Russia
8.2.2.8. Rest of Europe
8.2.3. Asia Pacific
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Japan
8.2.3.4. South Korea
8.2.3.5. Australia & New Zealand
8.2.3.6. ASEAN
8.2.3.7. Rest of Asia Pacific
8.2.4. Rest of The World
8.2.4.1. GCC
8.2.4.2. South Africa
8.2.4.3 Brazil
8.2.4.4 Argentina
8.2.4.5 Rest of ME & SA
Chapter 9. North America Smart Lock Market Analysis
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
9.2.1. By Lock Mechanism
9.2.2. By Technology
9.2.3. By Application
9.2.4. By Country
Chapter 10. Europe Smart Lock Market Analysis
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units) 10.2.1. By Lock Mechanism
10.2.2. By Technology
10.2.3. By Application
10.2.4. By Country
Chapter 11. Asia Pacific Smart Lock Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
11.2.1. By Lock Mechanism
11.2.2. By Technology
11.2.3. By Application
11.2.4. By Country
Chapter 12. Rest of the World Smart Lock Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units) 12.2.1. By Lock Mechanism
12.2.2. By Technology
12.2.3. By Application
12.2.4. By Country
Chapter 13. The U.S. Smart Lock Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
13.2.1. By Lock Mechanism
13.2.2. By Technology
13.2.3. By Application
Chapter 14. Canada Smart Lock Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
14.2.1. By Lock Mechanism 14.2.2. By Technology
14.2.3. By Application
Chapter 15. Mexico Smart Lock Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
15.2.1. By Lock Mechanism
15.2.2. By Technology
15.2.3. By Application
Chapter 16. The UK Smart Lock Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
16.2.1. By Lock Mechanism 16.2.2. By Technology
16.2.3. By Application
Chapter 17. Germany Smart Lock Market Analysis
17.1. Key Insights
17.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
17.2.1. By Lock Mechanism
17.2.2. By Technology
17.2.3. By Application
Chapter 18. France Smart Lock Market Analysis
18.1. Key Insights
18.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
18.2.1. By Lock Mechanism 18.2.2. By Technology
18.2.3. By Application
Chapter 19. Italy Smart Lock Market Analysis
19.1. Key Insights
19.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
19.2.1. By Lock Mechanism
19.2.2. By Technology
19.2.3. By Application
Chapter 20. Spain Smart Lock Market Analysis
20.1. Key Insights
20.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
20.2.1. By Lock Mechanism 20.2.2. By Technology
20.2.3. By Application
Chapter 21. Poland Smart Lock Market Analysis
21.1. Key Insights
21.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
21.2.1. By Lock Mechanism
21.2.2. By Technology
21.2.3. By Application
Chapter 22. Russia Smart Lock Market Analysis
22.1. Key Insights
22.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
22.2.1. By Lock Mechanism 22.2.2. By Technology
22.2.3. By Application
Chapter 23. Rest of Europe Smart Lock Market Analysis
23.1. Key Insights
23.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
23.2.1. By Lock Mechanism
23.2.2. By Technology
23.2.3. By Application
Chapter 24. China Smart Lock Market Analysis
24.1. Key Insights
24.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
24.2.1. By Lock Mechanism 24.2.2. By Technology
24.2.3. By Application
Chapter 25. India Smart Lock Market Analysis
25.1. Key Insights
25.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
25.2.1. By Lock Mechanism
25.2.2. By Technology
25.2.3. By Application
Chapter 26. Japan Smart Lock Market Analysis
26.1. Key Insights
26.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
26.2.1. By Lock Mechanism 26.2.2. By Technology
26.2.3. By Application
Chapter 27. South Korea Smart Lock Market Analysis
27.1. Key Insights
27.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
27.2.1. By Lock Mechanism
27.2.2. By Technology
27.2.3. By Application
Chapter 28. Australia & New Zealand Smart Lock Market Analysis
28.1. Key Insights
28.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
28.2.1. By Lock Mechanism 28.2.2. By Technology
28.2.3. By Application
Chapter 29. ASEAN Smart Lock Market Analysis
29.1. Key Insights
29.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
29.2.1. By Lock Mechanism
29.2.2. By Technology
29.2.3. By Application
Chapter 30. Rest of Asia Pacific Smart Lock Market Analysis
30.1. Key Insights
30.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
30.2.1. By Lock Mechanism 30.2.2. By Technology
30.2.3. By Application
Chapter 31. GCC Smart Lock Market Analysis
31.1. Key Insights
31.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
31.2.1. By Lock Mechanism
31.2.2. By Technology
31.2.3. By Application
Chapter 32. South Africa Smart Lock Market Analysis
32.1. Key Insights
32.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
32.2.1. By Lock Mechanism 32.2.2. By Technology
32.2.3. By Application
Chapter 33. Brazil Smart Lock Market Analysis
33.1. Key Insights
33.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
33.2.1. By Lock Mechanism
33.2.2. By Technology
33.2.3. By Application
Chapter 34. Argentina Smart Lock Market Analysis
34.1. Key Insights
34.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
34.2.1. By Lock Mechanism
34.2.2. By Technology 34.2.3. By Application
Chapter 35. Rest of ME & SA Lock Market Analysis
35.1. Key Insights
35.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
35.2.1. By Lock Mechanism
35.2.2. By Technology
35.2.3. By Application
35.2.3. By Application
Chapter 36. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
36.1. Allegion plc
36.2. ASSA ABLOY AB 36.3. Aventsecurity
36.4. Cansec Systems Ltd.
36.5. GANTNER Electronic GmbH
36.6. Haven Lock, Inc.
36.7. Master Lock Company LLC
36.8. MIWA Lock Co.
36.9. Mul-T-Lock
36.10. Okidokeys
36.11. Onity, Inc.
36.12. Salto Systems S.L.
36.13. Samsung Electronics Co., Ltd.
36.14. SDS Smart Locks 36.15. SentriLock
36.16. Shenzhen Vians Electric Lock Co., Ltd.
36.17. Spectrum Brands Holdings, Inc.
36.18. UniKey Technologies Inc.
36.19. Weiser
36.20. Wyze Labs, Inc
36.21. Other Prominent Players

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Allegion plc
  • ASSA ABLOY AB
  • Aventsecurity
  • Cansec Systems Ltd.
  • GANTNER Electronic GmbH
  • Haven Lock, Inc.
  • Master Lock Company LLC
  • MIWA Lock Co.
  • Mul-T-Lock
  • Okidokeys
  • Onity, Inc.
  • Salto Systems S.L.
  • Samsung Electronics Co., Ltd.
  • SDS Smart Locks
  • SentriLock
  • Shenzhen Vians Electric Lock Co., Ltd.
  • Spectrum Brands Holdings, Inc.
  • UniKey Technologies Inc.
  • Weiser
  • Wyze Labs, Inc

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