The global smart lock market was worth US$ 1.3 Billion in 2018. A smart lock is an electro-mechanical door lock system that performs the locking and unlocking function upon receiving commands from an authorized source. These commands are usually transmitted through smartphones, wearable devices or tablets using Wi-Fi or Bluetooth. Smart locks can be monitored from any location and customized to restrict universal access. Furthermore, they provide monitoring features such as access notifications through SMS and e-mail and video camera with recording capabilities to provide visuals of the person at the door. They also have features such as auto-locking options that automatically lock a door if left unlocked for a specific period and perimeter auto-locking that automatically locks the door if the user’s smartphone is outside the designated perimeter.
Increasing acceptance of advanced home security solutions and usage of smart devices are among the key factors driving the global market. A rising number of security threat incidents along with the development of smart cities have created the need for smart locks in both the residential and commercial sectors. Smart locks have high durability and low installation costs and provide a greater sense of security to the user. Consequently, they are rapidly replacing the traditional locking systems that included bulky locks with keys that are more prone to loss and theft. Additionally, owing to rising urbanization and disposable income along with robust growth of the IoT technology, people are more inclined toward smart-technology-based assistance for their daily life functioning. Furthermore, implementation of innovative technologies, such as cloud-based locking/unlocking that enables the user to access these locks through a virtual device remotely, is also expected to catalyze the market growth. Looking forward, IMARC Group expects the market to reach a value of US$ 2.7 Billion by 2024, registering a CAGR of around 13% during 2019-2024.
Report Coverage:
- Historical, Current and Future Market Trends
- Market Breakup by Lock Type:
- Deadbolts
- Lever Handles
- Padlocks
- Others
- Market Breakup by Communication Protocol:
- Market Breakup by End-User:
- Commercial
- Residential
- Institution and Government
- Industrial
- Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Assa Abloy, Allegion Plc, Dorma+Kaba Holding AG, Spectrum Brands Holdings, Inc., Salto Systems S.L., Onity, Inc., Cansec Systems Ltd., Gantner Electronic GmbH, Master Lock Company LLC, MIWA Lock Co., Samsung Electronics Co., Ltd., Amadas Inc., Sentrilock, LLC, Avent Security, Dessmann, etc.
Key Questions Answered in This Report:
- How has the global smart lock market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global smart lock industry?
- What is the breakup of the market based on the lock type?
- What is the breakup of the market based on the communication protocol?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the global smart lock industry?
- What are the key driving factors and challenges in the global smart lock industry?
- What is the structure of the global smart lock industry and who are the key players?
- What is the degree of competition in the global smart lock industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart lock Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Lock Type
5.4 Market Breakup by Communication Protocol
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Lock Type
6.1 Deadbolts
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lever Handles
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Padlocks
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Communication Protocol
7.1 Bluetooth
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Wi-Fi
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by End-User
8.1 Commercial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Residential
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Institution and Government
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Industrial
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Assa Abloy
14.3.2 Allegion Plc
14.3.3 Dorma+Kaba Holding AG
14.3.4 Spectrum Brands Holdings, Inc.
14.3.5 Salto Systems S.L.
14.3.6 Onity, Inc.
14.3.7 Cansec Systems Ltd.
14.3.8 Gantner Electronic GmbH
14.3.9 Master Lock Company LLC
14.3.10 MIWA Lock Co.
14.3.11 Samsung Electronics Co., Ltd.
14.3.12 Amadas Inc.
14.3.13 Sentrilock, LLC
14.3.14 Avent Security
14.3.15 Dessmann
List of Figures
Figure 1: Global: Smart lock Market: Major Drivers and Challenges
Figure 2: Global: Smart lock Market: Sales Value (in Billion US$), 2013-2018
Figure 3: Global: Smart lock Market: Breakup by Lock Type (in %), 2018
Figure 4: Global: Smart lock Market: Breakup by Communication Protocol (in %), 2018
Figure 5: Global: Smart lock Market: Breakup by End-User (in %), 2018
Figure 6: Global: Smart lock Market: Breakup by Region (in %), 2018
Figure 7: Global: Smart lock Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 8: Global: Smart lock Industry: SWOT Analysis
Figure 9: Global: Smart lock Industry: Value Chain Analysis
Figure 10: Global: Smart lock Industry: Porter’s Five Forces Analysis
Figure 11: Global: Smart lock (Deadbolts) Market: Sales Value (in Million US$), 2013-2018
Figure 12: Global: Smart lock (Deadbolts) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 13: Global: Smart lock (Lever Handles) Market: Sales Value (in Million US$), 2013-2018
Figure 14: Global: Smart lock (Lever Handles) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 15: Global: Smart lock (Padlocks) Market: Sales Value (in Million US$), 2013-2018
Figure 16: Global: Smart lock (Padlocks) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 17: Global: Smart lock (Other Types) Market: Sales Value (in Million US$), 2013-2018
Figure 18: Global: Smart lock (Other Types) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 19: Global: Smart lock (Bluetooth) Market: Sales Value (in Million US$), 2013-2018
Figure 20: Global: Smart lock (Bluetooth) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 21: Global: Smart lock (Wi-Fi) Market: Sales Value (in Million US$), 2013-2018
Figure 22: Global: Smart lock (Wi-Fi) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 23: Global: Smart lock (Other Communication Protocols) Market: Sales Value (in Million US$), 2013-2018
Figure 24: Global: Smart lock (Other Communication Protocols) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 25: Global: Smart lock (Commercial) Market: Sales Value (in Million US$), 2013-2018
Figure 26: Global: Smart lock (Commercial) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 27: Global: Smart lock (Residential) Market: Sales Value (in Million US$), 2013-2018
Figure 28: Global: Smart lock (Residential) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 29: Global: Smart lock (Institution and Government) Market: Sales Value (in Million US$), 2013-2018
Figure 30: Global: Smart lock (Institution and Government) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 31: Global: Smart lock (Industrial) Market: Sales Value (in Million US$), 2013-2018
Figure 32: Global: Smart lock (Industrial) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 33: North America: Smart lock Market: Sales Value (in Million US$), 2013-2018
Figure 34: North America: Smart lock Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 35: Europe: Smart lock Market: Sales Value (in Million US$), 2013-2018
Figure 36: Europe: Smart lock Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 37: Asia Pacific: Smart lock Market: Sales Value (in Million US$), 2013-2018
Figure 38: Asia Pacific: Smart lock Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 39: Middle East and Africa: Smart lock Market: Sales Value (in Million US$), 2013-2018
Figure 40: Middle East and Africa: Smart lock Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 41: Latin America: Smart lock Market: Sales Value (in Million US$), 2013-2018
Figure 42: Latin America: Smart lock Market Forecast: Sales Value (in Million US$), 2019-2024
List of Tables
Table 1: Global: Smart lock Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Smart lock Market Forecast: Breakup by Lock Type (in Million US$), 2019-2024
Table 3: Global: Smart lock Market Forecast: Breakup by Communication Protocol (in Million US$), 2019-2024
Table 4: Global: Smart lock Market Forecast: Breakup by End-User (in Million US$), 2019-2024
Table 5: Global: Smart lock Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 6: Global: Smart lock Market Structure
Table 7: Global: Smart lock Market: Key Players