According to Stratistics MRC, the Global Smart Lock Market is accounted for $1.84 billion in 2020 and is expected to reach $5.68 billion by 2028 growing at a CAGR of 15.1% during the forecast period. The rising adoption of smartphones and other connecting devices, growing security and safety concerns are driving the market growth. However, high cost and perception of unreliability are hampering the growth of the market.
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By geography, Asia Pacific is going to have high growth during the forecast period due to increased adoption of security systems as the countries in this region are the emerging economies with a growing number of manufacturing bases and increasing demand for connected security devices. Moreover, a huge population base, large number of research and development (R&D) activities, and increasing urbanization in APAC drive the adoption of smart locks in this region.
Some of the key players profiled in the Smart Lock Market include Allegion Plc, Amadas Inc., Assa Abloy, Avent Security, Cansec Systems Ltd, Dessmann , Dorma+Kaba Holding AG, Gantner Electronic GmbH, Master Lock Company LLC, MIWA Lock Co., Onity Inc, Salto Systems S.L., Samsung Electronics Co. Ltd, Sentrilock LLC, and Spectrum Brands Holdings Inc.
Lock Types Covered:
• Padlocks
• Lever Handles
• Deadbolts
• Others Lock Types
Sub-Markets Covered:
• Casino Management
• Data Center Security
• Energy Security
• Physical Security
• Port Security
Products Covered:
• App Based
• Biometric Smart Lock
• Bluetooth-Based Smart Lock
• Electronic Cipher Locks
• Face Recognition Door Locks
• Fingerprint Recognition Door Locks
• Keypads
• Magnetic Strip Door Locks
• Motion Sensor
• Pin Code
• Radio Frequency Identification (RFID)
• Remote Locks
• Touch Screen
• Wi-Fi-Based Smart Lock
Communication Protocols Covered:
• Bluetooth
• Wireless Fidelity (Wi-Fi)
• Others Communication Protocols
End Users Covered:
• Commercial
• Critical Infrastructures
• Enterprise
• Institution and Government
• Industrial
• Residential
Sales Channels Covered:
• Direct Sales
• Distributor
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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