Smart Lock Market

Global Smart Lock Market is valued at USD 2.68 Billion in 2021 and is expected to reach USD 8.80 Billion by 2028 with a CAGR of 18.5% over the forecast period.

Global Smart Lock Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Increasing penetration of smartphones, rise in the number of criminal cases, and growing emergence of smart technologies such as 5G, Wi-Fi are anticipated to drive the growth of the Global Smart Lock Market.

Scope

A smart lock is an electromechanical lock that is intended to execute the locking and opening procedure on a door when it gets such commands from an authorized gadget. It utilizes a remote protocol and a cryptographic key to execute the authorization process. It additionally monitors access and sends alarms for the various events it monitors and some other basic events identified with the situation with the device. Smart locks can be viewed as a component of a smart home. These locking instruments are available wirelessly with an affirmed purchaser's confirmation. With the assistance of a cryptographic key and cell phone, the consumer can validate wirelessly and automatically open or lock the door.

These locks are a component of the internet of things (loT). Locking and opening activity can likewise be finished utilizing mobile applications and websites which grant the client of the home to assign the section to a middle person by posting the essentials by email or text message. These locks can benefit from the utilization of Bluetooth or Wi-Fi connection with function admirably and work with the smart doorbell.

The COVID-19 pandemic has also impacted the growth of the global smart lock market. During the COVID-19 pandemic, locking and unlocking strategies can be done utilizing voice recognition and cell phones or smart devices, consequently decreasing the need to physically contact the devices. Such innovations are empowering manufacturers to satisfy client requests for touchless and contactless stages to work their devices, accordingly reducing the risk of infection during these difficult times. New product development and incorporation of advanced and touchless innovations are the key strategies that number of business players adopts during the pandemic.

Companies

• Allegion plc 
• Assa Abloy AB
• Cansec Systems Ltd.
• Carrier Global
• Dormakaba Group
• Fortune Brands Home & Security
• MIWA Lock Co.
• SALTO Systems, S.L.
• Samsung Group
• SentriLock, LLC
• Spectrum Brands, Inc
• Others

Market Segmentation

The global smart lock market is segmented on the basis of type, technology, end-user and region & country level. Based upon lock type, the global smart lock market is divided into deadbolts, lever handles, padlocks, footplate locks, rim latch and wall mounted locks. On the basis of technology, the market is classified into Wi-Fi, Bluetooth and others. On the basis of end-users, the smart lock market is classified into commercial, residential sectors, enterprises, government institutions, research labs and other.

By Lock Type

• Deadbolts
• Lever Handles
• PadLocks
• Footplate Locks
• Rim latch
• Others

By Operating Mode

• Single Operating Mode
  • Keypad
  • Smart Card
  • Touch-based
  • Key Fob
  • Smartphone-Based
• Multi Operating Mode

By Application

• Access Control & Authentication
• Asset Control

By End User

• Residential
• Commercial
  • IT & Telecom
  • Government & Public Sector 
  • Retail
  • Hospitals
  • Education
  • Hospitality
  • Other
• Industrial
  • Manufacturing
  • Transportation & Logistics
  • Other Industries

The regions covered in global smart lock Industry report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On thebasis of country level, the market of global smart lock is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India,Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.

North America is Expected to Dominate the Global Smart Lock Industry.

North America is expected to dominate the global smart lock market due to the early adoption of advanced technology, rising use of smartphones, and the presence of key players in this region. For example; in January 2020, Yale presented Linus a Smart Lock at CES 2020, Las Vegas. The savvy lock is fueled by advanced software and the easy-to-understand Yale Access application. It will offer added functionalities, like the capacity to lock and open the door, grant keyless access, and monitor who comes and goes with a 24/7 access history. As indicated by Oberlo, in 2019, there were around 260 million smartphones clients in the United States.

The Asia Pacific is anticipated to witness the fastest growth in the global smart lock market due to the rising awareness regarding advanced gadgets and technologies in this region. For example; as per the news published on December 9^th, 2019, Gimdow released the world's best no-install smart lock. A smart lock that could be effortlessly removed and installed for individuals who can't dismantle their current lock or cause any long-lasting harm to the door.

Increasing Penetration of Smartphones, Rise in Number of Crime Cases and Growing Emergence of Smart Technologies such as 5G, Wi-Fi Drive the Market Growth.

On Special Requirement Smart Lock Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

The Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

News

Xiaomi will Launch the Auto Smart Door Lock Pro with Flagship Features

On June 28^th, 2021; Xiaomi announced to uncover the expected product will be known as Xiaomi Auto Smart Door Lock Pro on June 29^th. One noticeable feature of this product that client can see from the poster is a couple of binocular cameras that is dual cameras. The device additionally has look like a sensor in the middle of the two camera lenses. There are hypotheses that the sensor could be a 3D organized light-related part which will make the device come with a more safety type of 3D face acknowledgment feature. With the camera, capacities like security observing outside the door and visual doorbell are relied upon to be incorporated.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2027
Market Size in 2021:	USD 2.68 Billion
Base year considered	2020
Forecast Period CAGR %:	18.5%
Market Size Expected in 2028:	USD 8.80 Billion
Tables, Charts & Figures:	175
Pages	200
Smart lock Companies:	Assa Abloy AB, Cansec Systems Ltd., Carrier Global, Dormakaba Group, Fortune Brands Home & Security, MIWA Lock Co., SALTO Systems, S.L., Samsung Group, SentriLock, LLC, Spectrum Brands, Inc, and others.
Segments Covered	By Lock Type, By Technology, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits

• Global Smart Locks Industry report covers in-depth historical and forecast analysis.
• Global Smart Locks research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Smart Lock Features, Smart lock Companies, Competitive Analysis, Regional and Country levels.
• Global Smart Locks report helps to identify opportunities in the marketplace.
• Global Smart Locks Industry report covers extensive analysis of emerging trends and competitive landscape.

Features

• Activate Guest or Tenant code
• One-time access provision for helper, security guard, etc.
• Remote password setting to unlock.

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