Smart Lock Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F, Segmented By Product Type (Deadbolts, Lever Handles, Padlocks, Others (Face Recognition Locks, Wall-Mounted Locks etc.)), By End-User (Residential, Commercial, Industrial), By Distribution Channel (Retailers, Distributors/ Dealers, Home Automation System Dealers, Online and Others (Direct Sales etc.)),
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe global smart lock market is anticipated to project robust growth in the forecast period due to the rising concern for security and safety, increasing standard of living and increasing penetration of smart phone and internet. Using smart connected technology is a prominent trend anticipated to affect new product launches throughout the projected period.
Smart locks? Think of them as your door's new brain! They're electromechanical gadgets that lock and unlock your doors when they get the "okay" from an encrypted digital or mobile key. Forget fumbling for your keys; with smart locks, you can stroll right in or let someone else in – all without a traditional key. You just electronically check in (usually with your smartphone, but other devices work too!), and the door mechanically unlocks. It's all part of home automation, designed to boost your house security. Being connected devices, they're really part of the Internet of Things (IoT). What's really cool is that smart locks can even use apps or websites to send a virtual key to, say, a friend or family member, giving them temporary access to your home.
Companies are always trying to get a bigger slice of the pie, so they're pumping more and more money into research and development. Take Huawei, for example. They just released the Smart Door Lock Pro, and it's packed with cool tech like AI 3D face recognition. Huawei says it unlocks in under two seconds, and only messes up once in a million tries! They've really gone all-in on security, too. It's powered by HarmonyOS and uses the same 3D deep-sensing camera you'd find in their high-end P50 Pro phone. Plus, it has a dedicated AI processor called TOPS and a smart algorithm that learns and gets better at recognizing your face over time.
Rising Concern for Security and Safety Will Fuel the Market Growth
Venezuela has the world's highest crime rate index of 84.36.
Increasing Adoption of Connected Devices Will Fuel Market Growth
According to a USENIX Association report, there were around 83 million IoT devices in 16 million homes worldwide.
Increasing Usage of Smart Locks in Government and Commercial Sector Will Fuel The Market Growth
Think about itbusinesses and even government agencies need ways to identify employees, right? That's where digital keys or pin numbers come in. And nowadays, smart locks are making things even easier. They let you schedule when people can enter and exit, and they automatically lock up when the door shuts. A lot of folks see them as the perfect upgrade from those old-fashioned locks and security systems because they can actually track who's coming and going in a building. Because of all this, you're seeing governments and companies starting to use smart locks more and more to boost both public and company security. It's really a global trend now, helping to keep the economy safe and running smoothly. Plus, businesses are jumping on the bandwagon by using newer tech to cut down on risks, make employees more responsible, beef up compliance, and just be more efficient overall – it's a win-win!
Increasing Penetration of Internet Will Fuel the Market Growth
As of 2022, the internet was actively used by 69% of the world's population, or 4.9 billion people. According to trends, the number of internet users increases at a 4% annual rate, implying that approximately 196 million new individuals access the internet each year.
Market Segmentation
The smart lock market is segmented based on product type, end-user, and distribution channel. Based on product type, the market is segmented into deadbolts, lever handles, padlocks, others (face recognition locks, wall-mounted locks etc. The market is further divided into residential, commercial and industrial, in terms of end-user. Based on distribution channels, the market is fragmented into retailers, distributors/ dealers, home automation system dealers, online and others (direct sales etc.))
Company Profiles
Assa Abloy Inc. (Yale), Schlage lock Co LLC, August Home, Inc., Spectrum Brands Holdings, Inc (Kwikset), UniKey Technologies, Inc., dormakaba Group, SALTO Systems, S.L., Honeywell International Inc., Vivint, Inc. and BUILDWALL., Inc (DESSMANN) are
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type · End-User · Distribution Channel · Region |
| Regional Scope | North America, Asia-Pacific, Europe, Middle East & Africa and South America |
| Country Scope | United States; Canada; Mexico; China; India; Japan; South Korea; Indonesia, Vietnam; Germany; France; United Kingdom; Italy, Spain; Saudi Arabia; UAE; South Africa; Turkey; Brazil; Argentina; Colombia |
| Key Companies Profiled | Assa Abloy Inc. (Yale), Schlage lock Co LLC, August Home, Inc., Spectrum Brands Holdings, Inc. (Kwikset), UniKey Technologies, Inc., dormakaba Group, SALTO Systems, S.L., Honeywell International Inc., Vivint, Inc. and BUILDWALL., Inc (DESSMANN) |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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