Smart Lock Market Overview:
Smart Lock Market size was valued at US$ 2.11 Bn. in 2022 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn.
The report provided by Maximize Market Research assists clients in comprehensively grasping the competitive landscape, serving as a strategic planning tool. The Smart Lock Market overview offers in-depth information about market size, trade statistics, key players, and diverse market metrics, encompassing aspects such as life cycle and prevailing trends.
Smart Lock Market Report Scope and Research Methodology:
The Smart Lock Market report presents an in-depth examination of segments and sub-segments across local, global, and regional markets. The report scrutinizes how drivers, restraints, and macro variables impact Systems of Smart Lock Markets at the local, global, and regional levels. It encompasses a comprehensive evaluation of trends, forecasts, and monetary valuations within the global Smart Lock System market. Employing both primary and secondary data collection techniques, the report employs qualitative and quantitative approaches for Smart Lock Market analysis. The report adopts a bottom-up approach for Smart Lock Market estimation.
A comprehensive analysis of demand projections, market trends, and micro and macro factors is provided for the Smart Lock Market. The report encompasses factors driving and constraining market growth. Analytical methodologies like Porter's five forces analysis and PESTLE analysis are employed to offer market insights. Current market trends and forecasts for the upcoming years are also part of the report's content.
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Smart Lock Market Regional Insights:
The report provides an intricate examination of factors, market size, growth rate, as well as import and export dynamics across various regions. The included Regional Analysis aids in comprehending the Smart Lock Market across multiple countries. The Smart Lock Market is comprehensively categorized into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Smart Lock Market Segmentation:
by Lock Type
Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others
The segment for deadbolts had the largest market share in terms of lock type in 2022. The expansion of this market is being driven by the expanding applications in different industries and simplicity of installation. One of the most popular styles of exterior home locks is the deadbolt. The expansion of this market is being driven by its low installation costs, excellent durability, and efficient defense against intense incursions or attacks in residential, commercial, and other verticals.
by Communication
Protocol Bluetooth
WiFi
Z-Wave
Others
The smart lock market for the Bluetooth communication protocol sector had the biggest market share in 2022, according to communication protocol. Users can only control their Bluetooth smart locks if they are close to their residences due to the 300-foot maximum range of these devices. It is a practical technology that may be applied to a variety of tasks, such as access control, jewelry storage, and asset security.
by Unlocking Mechanism
Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based
The Touch Based section of the smart lock industry has the fastest growing unlocking mechanism in terms of unlocking method. The touch-based unlocking system for smart locks uses fingerprint recognition technology. It is quick and simple to identify and authenticate persons using their fingerprints. Modern home security systems can benefit greatly from biometric authentication, which is also a trend that is rising with the smart home movement.
by Vertical
Commercial
Residential
Institutional & Government
Industrial
Transportation & Logistic
According to Vertical, the residential market for smart locks held a 65.7% revenue share in 2022. The market expansion is primarily explained by the expanding global adoption of smart homes as well as the rise in new construction and renovation projects in the industry over the course of the projected year.
Smart Lock Market Key Players:
1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)
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Key questions answered in the Smart Lock Market are:
What is Smart Lock?
What was the Smart Lock Market size in 2022?
What is the growth rate of the Smart Lock Market?
Which are the factors expected to drive the Smart Lock Market growth?
What are the different segments of the Smart Lock Market?
What growth strategies are the players considering to increase their presence in Smart Lock?
What are the upcoming industry applications and trends for the Smart Lock Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart Lock Market?
Who are the leading companies and what are their portfolios in Smart Lock Market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
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