Global Smart Lock Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : ICTPublished Date : June 6th, 2018
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The global smart lock market is anticipated to reach USD 1,375 million over the forecast period, at a CAGR of 17.3 %. The factors driving the growth of the market includes increasing demand for smart phones, adoption of sophisticated keyless access device, growing demand for connected home solutions, and increasing security and privacy concerns among users. Moreover, rise in disposable income and rapid urbanization further fuels the demand of smart lock market during the forecast period. Furthermore, emergence of internet of things (IoT) and advancement in technology also driving market growth. However, lack of awareness among users may sometimes hamper the growth of the market growth. The years used for the assessment are as follows:

  • Historical year : 2014, 2015 and 2016
  • Base year : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total image sensor market and it various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global smart lock market
  • Finalizing the overall size and share for the global smart lock market 

OBJECTIVES: 

  • To classify the global smart lock market, segments are classified in product type, lock type, communication protocol, applications, region and analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with the global smart lock market
  • Profiling key companies operating in the global in a smart lock market
  • To study market response with respect to the mergers and acquisitions in the industry 

MARKET SCOPE

The research scope for global smart lock market is as follows:

By Product Type

  • Fingerprint Locks
  • Electronic Cipher Locks
  • Remote Locks
  • Others

By Lock type

  • Deadbolts
  • Lever Handles
  • Padlocks
  • Other Locks (rim/mortise locks and rim cylinders, Knob locks, and rim latch locks)

By Communication Protocol

  • Bluetooth
  • Wi-Fi
  • Others (Thread, Zigbee/Z-Wave, and Near Field Communication)

By Application

  • Residential
  • Commercial
  • Industrial
  • Hospitality
  • Institution and Government
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World (ROW)

Smart Lock: Huge Growth Potential in Residential Segment  

The global smart lock market is anticipated to reach USD 1,375 million over the forecast period, at a CAGR of 17.3%. The factors driving the growth of the market includes increasing demand for smart phones, adoption of sophisticated keyless access device, growing demand for connected home solutions, and increasing security and privacy concerns among users. Moreover, rise in disposable income and rapid urbanization further fuels the demand of smart lock market during the forecast period. Furthermore, emergence of internet of things (IoT) and advancement in technology also driving market growth. However, lack of awareness among users may sometimes hamper the growth of the market growth.

To encounter the real world scenario, smart locks are gaining its popularity. The ease of usage and growing demand for keyless unlocking devices is the key factor driving the residential segment in the smart lock market. The emergence of IoT has also become the fundamental base to eliminate the security challenges, and offer a minimum chance of threat and other activities. Smart locks are tremendously increasing its demand, as it is easier to install and also supportive to reduce multiple sets of keys.

Geographically, North America is anticipated to dominate the global smart lock market. The growth in this region is attributed to the increasing security concerns, well-established technological infrastructure, and high investments from major IoT players. However, Asia-Pacific (APAC) is expected to be the fastest-growing industry for smart lock during the forecast period, owing to rising number of commercial as well as residential projects, rapid urbanization and disposable income.

Key players in the smart lock market includes ASSA ABLOY; Allegion plc; AMADAS Inc.; Anviz Global; Guangdong Archie Hardware Co., Ltd.; Candy House, Inc.; Cansec Systems Ltd.; Dahua Technology Co., Ltd.; Gate; Samsung Electronics Co., Ltd.; Master Lock Company LLC; and Onity, Inc. among others.

smart lock market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Smart Lock – Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the smart lock market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.6. Market dynamics

3.6.1. Market driver analysis

  3.6.1.1. Increasing demand for smart phones

  3.6.1.2. Adoption of sophisticated keyless access device

  3.6.1.3. Growing demand for connected home solutions

  3.6.1.4. increasing security and privacy concerns among users

3.6.2. Market restraint analysis

           3.6.2.1. Lack of awareness among users

3.6.3. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Smart Lock Market Size and Forecast (2014 – 2024)

5.1. Global Smart Lock Market, By Product Type (USD Million)

5.1.1. Fingerprint Locks

5.1.2. Electronic Cipher Lock

5.1.3. Remote Lock

5.1.4. Others

5.2. Global Smart Lock Market, By Lock Type (USD Million)

5.2.1. Deadbolts

5.2.2. Lever Handles

5.2.3. Padlocks

5.2.4. Other Locks (rim/mortise locks and rim cylinders, Knob locks, and rim latch locks)

5.3. Global Smart Lock Market, By Communication Protocol (USD Million)

5.3.1. Bluetooth

5.3.2. Wi-Fi

5.3.3. Others (Thread, Zigbee/Z-Wave, and Near Field Communication)

5.4. Global Smart Lock Market, By Application (USD Million)

5.4.1. Residential

5.4.2. Commercial

5.4.3. Industrial

5.4.4. Hospitality

5.4.5. Institution and Government

5.4.6. Others

CHAPTER 6. Global Smart Lock Market Size and Forecast, By Geography (2014 – 2024)

6.1. North America Smart Lock Market (USD Million)

6.1.1. North America Smart Lock Market By Product Type (USD Million)

6.1.2. North America Smart Lock Market By Lock Type (USD Million)

6.1.3. North America Smart Lock Market By Communication Protocol (USD Million)

6.1.4. North America Smart Lock Market By Application (USD Million)

6.1.5. North America Smart Lock Market By Country (USD Million)

  6.1.5.1. U.S.

  6.1.5.2. Canada

  6.1.5.3. Mexico

6.2. Europe Smart Lock Market (USD Million)

6.2.1. Europe Smart Lock Market By Product Type (USD Million)

6.2.2. Europe Smart Lock Market By Lock Type (USD Million)

6.2.3. Europe Smart Lock Market By Communication Protocol (USD Million)

6.2.4. Europe Smart Lock Market By Application (USD Million)

6.2.5. Europe Smart Lock Market By Country (USD Million)

  6.2.5.1. Germany

  6.2.5.2. France

  6.2.5.3. U.K.

  6.2.5.4. Rest of Europe

6.3. Asia-Pacific (APAC) Smart Lock Market (USD Million)

6.3.1. APAC Smart Lock Market By Product Type (USD Million)

6.3.2. APAC Smart Lock Market By Lock Type (USD Million)

6.3.3. APAC Smart Lock Market By Communication Protocol (USD Million)

6.3.4. APAC Smart Lock Market By Application (USD Million)

6.3.5. APAC Smart Lock Market By Country (USD Million)

  6.3.5.1. China

  6.3.5.2. Japan

  6.3.5.3. South Korea

  6.3.5.4. India

  6.3.5.5. Rest of Asia-Pacific

6.4. Rest of the World (RoW) Smart Lock Market (USD Million)

6.4.1. RoW Smart Lock Market By Product Type (USD Million)

6.4.2. RoW Smart Lock Market By Lock Type (USD Million)

6.4.3. RoW Smart Lock Market By Communication Protocol (USD Million)

6.4.4. RoW Smart Lock Market By Application (USD Million)

6.4.5. RoW Smart Lock Market By Country (USD Million)

  6.4.5.1. South America

  6.4.5.2. Middle East and Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. ASSA ABLOY

7.1.1. Business Overview

7.1.2. Type and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Allegion plc

7.2.1. Business Overview

7.2.2. Type and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. AMADAS Inc.

7.3.1. Business Overview

7.3.2. Type and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Anviz Global

7.4.1. Business Overview

7.4.2. Type and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Guangdong Archie Hardware Co., Ltd.

7.5.1. Business Overview

7.5.2. Type and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Candy House, Inc.

7.6.1. Business Overview

7.6.2. Type and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Cansec Systems Ltd.

7.7.1. Business Overview

7.7.2. Type and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Dahua Technology Co., Ltd.

7.8.1. Business Overview

7.8.2. Type and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Gate

7.9.1. Business Overview

7.9.2. Type and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Samsung Electronics Co., Ltd.

7.10.1. Business Overview

7.10.2. Type and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Onity, Inc.

7.11.1. Business Overview

7.11.2. Type and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

Global Smart Lock Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024