Global Smart Lock Market Size, Trends & Growth Opportunity By Product (Padlocks, Lever Handles, Deadbolts), By Distribution Channel (Residential, and Commercial), By Region and Forecast till 2027.Global Smart Lock Market
The global smart lock market was valued at USD 1.2 billion in 2022 which is expected to reach USD 2.88 billion by 2027, at a CAGR 13.12% from 2022-2027.
Smart locks offer ease of use and work via either Wi-Fi, Bluetooth, or both. Increase in usage of smartphones is an integral part today’s lifestyle in developing economics. Rise in penetration of smartphones and more users acquire electronic devices for everyday use which is expected to drive the global smart lock market growth.
Market Drivers
The rise in investments in research and development activities by key competitors is the key driving factor that is expected to propel the global smart lock market's growth. Furthermore, an increase in the adoption of advanced technologies like the Internet of Things (IoT), which is expected to boost the growth of the global smart lock market. Moreover, the increase in the number of smartphones and the growing popularity of smart technology will have a positive impact on the growth of the global smart lock market. Also, an increase in awareness regarding security and safety concerns will fuel the smart lock market's growth.
Market Restraints
However, high cost of devices is the major restraining factor which is expected to hamper the growth of global smart lock market. Also, lack of awareness among customers will affect the global smart lock market's growth.
Market Segmentation
The global smart lock market is segmented by product type, such as padlocks, lever handles, deadbolts, and others, and by technology, such as Wi-Fi and Bluetooth. Further, the global smart lock market is segmented into end users, such as residential and commercial.
Regional analysis Also, the global smart lock market is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Market Key Players
Various key players are discussed in this report such as Master Lock Company LLC, Gantner Electronic GmbH, Cansec Systems Ltd., Onity, Inc., Salto Systems S.L., Spectrum Brands Holdings, Inc., Dorma+Kaba Holding AG, Allegion Plc , and ASSA ABLOY AB
Market Taxonomy
By Product Type
- Padlocks
- Lever Handles
- Deadbolts
- Others
- Wi-Fi
- Bluetooth
- Residential
- Commercial
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Smart Lock Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Smart Lock Market, By Product Type
- 5.1 Y-o-Y Growth Comparison, By Product Type
- 5.2 Global Smart Lock Market Share Analysis, By Product Type
- 5.3 Global Smart Lock Market Size and Forecast, By Product Type
- 5.3.1 Padlocks
- 5.3.2Lever Handles
- 5.3.3 Deabolts
- 5.3.4 Others
- 6 Global Smart Lock Market, By Technology
- 6.1 Y-o-Y Growth Comparison, By Technology
- 6.2 Global Smart Lock Market Share Analysis, By Technology
- 6.3 Global Smart Lock Market Size and Forecast, By Technology
- 6.3.1 Wi-Fi
- 6.3.2 Bluetooth
- 7 Global Smart Lock Market, By End User
- 7.1 Y-o-Y Growth Comparison, By End User
- 7.2 Global Smart Lock Market Share Analysis, By End User
- 7.3 Global Smart Lock Market Size and Forecast, By End User
- 7.3.1 Residential
- 7.3.2 Commercial
- 8Global Smart Lock Market, By Region
- 8.1 Global Smart Lock Market Share Analysis, By Region
- 8.2 Global Smart Lock Market Share Analysis, By Region
- 8.3 Global Smart Lock Market Size and Forecast, By Region
- 9 North America Smart Lock Market Analysis and Forecast (2022–2027)
- 9.1 Introduction
- 9.2 North America Smart Lock Market Share Analysis, By Product Type
- 9.3 North America Smart Lock Market Size and Forecast, By Technology
- 9.4 North America Smart Lock Market Size and Forecast, By End User
- 9.5 North America Smart Lock Market Size and Forecast, By Country
- 9.5.1 U.S.
- 9.5.2 Canada
- 9.5.3 Mexico
- 10Europe Smart Lock Market Analysis and Forecast (2022–2027)
- 10.1 Introduction
- 10.2 Europe Smart Lock Market Share Analysis, By Product Type
- 10.3 Europe Smart Lock Market Size and Forecast, By Technology
- 10.4 Europe Smart Lock Market Size and Forecast, By End User
- 10.5 Europe Smart Lock Market Size and Forecast, By Country
- 10.5.1 Germany
- 10.5.2 France
- 10.5.3 UK
- 10.54. Rest of Europe
- 11Asia Pacific Smart Lock Market Analysis and Forecast (2022–2027)
- 11.1 Introduction
- 11.2 Asia Pacific Smart Lock Market Share Analysis, By Product Type
- 11.3 Asia Pacific Smart Lock Market Size and Forecast, By Technology
- 11.4 Asia Pacific Smart Lock Market Size and Forecast, By End User
- 11.5 Asia Pacific Smart Lock Market Size and Forecast, By Country
- 11.5.1 China
- 11.5.2 Japan
- 11.5.3 India
- 11.5.4. Rest of Asia Pacific
- 12Latin America Smart Lock Market Analysis and Forecast (2022 –2027)
- 12.1 Introduction
- 12.2 Latin America Smart Lock Market Share Analysis, By Product Type
- 12.3 Latin America Smart Lock Market Size and Forecast, By Technology
- 12.4 Latin America Smart Lock Market Size and Forecast, By End User
- 12.5 Latin America Smart Lock Market Size and Forecast, Country
- 13Middle East Smart Lock Market Analysis and Forecast (2022–2027)
- 13.1 Introduction
- 13.2 Middle East Smart Lock Market Share Analysis, By Product Type
- 13.3 Middle East Smart Lock Market Size and Forecast, By Technology
- 13.4 Middle East Smart Lock Market Size and Forecast, By End User
- 13.5 Middle East Smart Lock Market Size and Forecast, By Country
- 14Competitive Analysis
- 14.1 Competition Dashboard
- 14.2 Market share Analysis of Top Vendors
- 14.3 Key Development Strategies
- 15Company Profiles
- 15.1 Master Lock Company LLC,
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 Gantner Electronic GmbH
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Cansec Systems Ltd
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 Onity, Inc
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Salto Systems S.L
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 Spectrum Brands Holdings, Inc
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 Dorma+Kaba Holding AG
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 Allegion Plc
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 ASSA ABLOY AB
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook