Smart Lock Market Research Report - Forecast till 2027

Smart Lock Market, By Lock Type (Deadbolt, Lever Handles, Padlocks), Products Type (Bluetooth-Based, Wi-Fi-Based), by Communication Protocol (Bluetooth, Wi-Fi, ZigBee, NFC), by End User (Commercial, Residential, Government) - Forecast Till 2027

ID: MRFR/SEM/3376-HCR | February 2021 | Region: Global | 100 Pages         

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Smart Lock Market

5 Industry Overview of Global Smart Lock Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Smart Lock Market by Lock Type

7.1 Introduction

7.2 Deadbolt

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Lever Handles

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast By Region, 2020-2027

7.4 Padlocks

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Others

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Smart Lock Market by Product type

8.1 Introduction

8.2 Bluetooth-based smart lock

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Wi-Fi-based smart lock

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Others

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Smart Lock Market by Communication protocol

9.1 Introduction

9.2 Bluetooth

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Wi -Fi

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 ZigBee

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

9.5 Z-Wave

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Region, 2020-2027

9.6 Thread

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Region, 2020-2027

9.7 NFC

9.7.1 Market Estimates & Forecast, 2020-2027

9.7.2 Market Estimates & Forecast by Region, 2020-2027

9.8 Others

9.8.1 Market Estimates & Forecast, 2020-2027

9.8.2 Market Estimates & Forecast by Region, 2020-2027

10. Global Smart Lock Market by End users

10.1 Introduction

10.2 Commercial

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Region, 2020-2027

10.3 Residential

10.3.1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Region, 2020-2027

10.4 Institution & Government

10.4.1 Market Estimates & Forecast, 2020-2027

10.4.2 Market Estimates & Forecast by Region, 2020-2027

10.5 Industrial

10.5.1 Market Estimates & Forecast, 2020-2027

10.5.2 Market Estimates & Forecast by Region, 2020-2027

10.6 Others

10.6.1 Market Estimates & Forecast, 2020-2027

10.6.2 Market Estimates & Forecast by Region, 2020-2027

11. Global Smart Lock Market by Region

11.1 Introduction

11.2 North America

11.2.1 Market Estimates & Forecast, 2020-2027

11.2.2 Market Estimates & Forecast by Lock type, 2020-2027

11.2.3 Market Estimates & Forecast by Products type, 2020-2027

11.2.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.2.5 Market Estimates & Forecast by End-Users, 2020-2027

11.2.6 U.S.A

11.2.6.1 Market Estimates & Forecast, 2020-2027

11.2.6.2 Market Estimates & Forecast by Lock type, 2020-2027

11.2.6.3 Market Estimates & Forecast by Products type, 2020-2027

11.2.6.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.2.6.5 Market Estimates & Forecast by End-Users, 2020-2027

11.2.7 Mexico

11.2.7.1 Market Estimates & Forecast, 2020-2027

11.2.7.2 Market Estimates & Forecast by Lock type, 2020-2027

11.2.7.3 Market Estimates & Forecast by Products type, 2020-2027

11.2.7.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.2.7.5 Market Estimates & Forecast by End-Users, 2020-2027

11.2.8 Canada

11.2.8.1 Market Estimates & Forecast, 2020-2027

11.2.8.2 Market Estimates & Forecast by Lock type, 2020-2027

11.2.8.3 Market Estimates & Forecast by Products type, 2020-2027

11.2.8.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.2.8.5 Market Estimates & Forecast by End-Users, 2020-2027

11.3 Europe

11.3.1 Market Estimates & Forecast, 2020-2027

11.3.2 Market Estimates & Forecast by Lock type, 2020-2027

11.3.3 Market Estimates & Forecast by Products type, 2020-2027

11.3.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.3.5 Market Estimates & Forecast by End-Users, 2020-2027

11.3.6 Germany

11.3.6.1 Market Estimates & Forecast, 2020-2027

11.3.6.2 Market Estimates & Forecast by Lock type, 2020-2027

11.3.6.3 Market Estimates & Forecast by Products type, 2020-2027

11.3.6.3 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.3.6.4 Market Estimates & Forecast by End-Users, 2020-2027

11.3.7. France

11.3.7.1 Market Estimates & Forecast, 2020-2027

11.3.7.2 Market Estimates & Forecast by Lock type, 2020-2027

11.3.7.3 Market Estimates & Forecast by Products type, 2020-2027

11.3.7.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.3.7.5 Market Estimates & Forecast by End-Users, 2020-2027

11.3.8 UK

11.3.8.1 Market Estimates & Forecast, 2020-2027

11.3.8.2 Market Estimates & Forecast by Lock type, 2020-2027

11.3.8.3 Market Estimates & Forecast by Products type, 2020-2027

11.3.8.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.3.8.5 Market Estimates & Forecast by End-Users, 2020-2027

11.4 Asia Pacific

11.4.1 Market Estimates & Forecast, 2020-2027

11.4.2 Market Estimates & Forecast by Lock type, 2020-2027

11.4.3 Market Estimates & Forecast by Products type, 2020-2027

11.4.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.4.5 Market Estimates & Forecast by End-Users, 2020-2027

11.4.6 China

11.4.6.1 Market Estimates & Forecast, 2020-2027

11.4.6.2 Market Estimates & Forecast by Lock type, 2020-2027

11.4.6.3 Market Estimates & Forecast by Products type, 2020-2027

11.4.6.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.4.6.5 Market Estimates & Forecast by End-Users, 2020-2027

11.4.7 India

11.4.7.1 Market Estimates & Forecast, 2020-2027

11.4.7.2 Market Estimates & Forecast by Lock type, 2020-2027

11.4.7.3 Market Estimates & Forecast by Products type, 2020-2027

11.4.7.3 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.4.7.4 Market Estimates & Forecast by End-Users, 2020-2027

11.4.8 Japan

11.4.8.1 Market Estimates & Forecast, 2020-2027

11.4.8.2 Market Estimates & Forecast by Lock type, 2020-2027

11.4.8.3 Market Estimates & Forecast by Products type, 2020-2027

11.4.8.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.4.8.5 Market Estimates & Forecast by End-Users, 2020-2027

11.4.9 Rest of Asia Pacific

11.4.9.1 Market Estimates & Forecast, 2020-2027

11.4.9.2 Market Estimates & Forecast by Lock type, 2020-2027

11.4.9.3 Market Estimates & Forecast by Products type, 2020-2027

11.4.9.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.4.9.5 Market Estimates & Forecast by End-Users, 2020-2027

11.5 Rest of the World

11.5.1 Market Estimates & Forecast, 2020-2027

11.5.2 Market Estimates & Forecast by Lock type, 2020-2027

11.5.3 Market Estimates & Forecast by Products type, 2020-2027

11.5.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.5.5 Market Estimates & Forecast by End-Users, 2020-2027

11.5.6 Middle East & Africa

11.5.6.1 Market Estimates & Forecast, 2020-2027

11.5.6.2 Market Estimates & Forecast by Lock type, 2020-2027

11.5.6.3 Market Estimates & Forecast by Products type, 2020-2027

11.5.6.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.5.6.5 Market Estimates & Forecast by End-Users, 2020-2027

11.5.7 Latin Countries

11.5.7.1 Market Estimates & Forecast, 2020-2027

11.5.7.2 Market Estimates & Forecast by Lock type, 2020-2027

11.5.7.3 Market Estimates & Forecast by Products type, 2020-2027

11.5.7.4 Market Estimates & Forecast by Communication Protocol, 2020-2027

11.5.7.5 Market Estimates & Forecast by End-Users, 2020-2027

12. Company Landscape

13. Company Profiles

13.1 The Assa Abloy Group (Sweden)

13.1.1 Company Overview

13.1.2 Product/Business Segment Overview

13.1.3 Financial Updates

13.1.4 Key Developments

13.2 Allegion Plc. (Ireland)

13.2.1 Company Overview

13.2.2 Product/Business Segment Overview

13.2.3 Financial Updates

13.2.4 Key Developments

13.3 Dormakaba Holding AG (Switzerland).

13.3.1 Company Overview

13.3.2 Product/Business Segment Overview

13.3.3 Financial Updates

13.3.4 Key Developments

13.4 Spectrum Brands Holdings, Inc. (U.S)

13.4.1 Company Overview

13.4.2 Product/Business Segment Overview

13.4.3 Financial Updates

13.4.4 Key Developments

13.5 Salto Systems S.L. (Spain)

13.5.1 Company Overview

13.5.2 Product/Business Segment Overview

13.5.3 Financial Updates

13.5.4 Key Developments

13.6 Onity Inc. (US)

13.6.1 Company Overview

13.6.2 Product/Business Segment Overview

13.6.3 Financial Updates

13.6.4 Key Developments

13.7 Cansec Systems Ltd. (Canada.),

13.7.1 Company Overview

13.7.2 Product/Business Segment Overview

13.7.3 Financial Updates

13.7.4 Key Developments

13.8 Master Lock (US.),

13.8.1 Company Overview

13.8.2 Product/Business Segment Overview

13.8.3 Financial Updates

13.8.4 Key Developments

13.9 August, Inc. (U.S)

13.9.1 Company Overview

13.9.2 Product/Business Segment Overview

13.9.3 Financial Updates

13.9.4 Key Developments

13.11 Kwikset (U.S)

13.9.1 Company Overview

13.9.2 Product/Business Segment Overview

13.9.3 Financial Updates

13.9.4 Key Developments

13.11 Haven Holidays (U.K)

13.9.1 Company Overview

13.9.2 Product/Business Segment Overview

13.9.3 Financial Updates

13.9.4 Key Developments

13.12 Others

13.9.1 Company Overview

13.9.2 Product/Business Segment Overview

13.9.3 Financial Updates

13.9.4 Key Developments

14 Conclusion

LIST OF TABLES

Table1 World Population by Major Regions (2020 To 2030)

Table2 Global Smart Lock Market: By Region, 2020-2027

Table3 North America Smart Lock Market: By Country, 2020-2027

Table4 Europe Smart Lock Market: By Country, 2020-2027

Table5 Asia-Pacific Smart Lock Market: By Country, 2020-2027

Table6 Middle East & Africa Smart Lock Market: By Country, 2020-2027

Table7 Latin America Smart Lock Market: By Country, 2020-2027

Table8 Global Smart Lock by Lock type Market: By Regions, 2020-2027

Table9 North America Smart Lock by Lock type Market: By Country, 2020-2027

Table10 Europe Smart Lock by Lock type Market: By Country, 2020-2027

Table11 Asia-Pacific Smart Lock by Lock type Market: By Country, 2020-2027

Table12 Middle East & Africa Smart Lock by Lock type Market: By Country, 2020-2027

Table13 Latin America Smart Lock by Lock type Market: By Country, 2020-2027

Table14 Global Smart Lock by End users Market: By Regions, 2020-2027

Table15 North America Smart Lock by End users Market: By Country, 2020-2027

Table16 Europe Smart Lock by End users Market: By Country, 2020-2027

Table17 Asia-Pacific Smart Lock by End users Market: By Country, 2020-2027

Table18 Middle East & Africa Smart Lock by End users Market: By Country, 2020-2027

Table19 Latin America Smart Lock by End users Market: By Country, 2020-2027

Table20 North America Smart Lock for Communication protocol Market: By Country, 2020-2027

Table21 Europe Smart Lock for Communication protocol Market: By Country, 2020-2027

Table22 Asia-Pacific Smart Lock for Communication protocol Market: By Country, 2020-2027

Table23 Middle East & Africa Smart Lock for Communication protocol Market: By Country, 2020-2027

Table24 Latin America Smart Lock for Communication protocol Market: By Country, 2020-2027

Table25 Global Lock type Market: By Region, 2020-2027

Table26 Global Communication protocol Market: By Region, 2020-2027

Table27 Global Communication protocol Market: By Region, 2020-2027

Table28 North America Smart Lock Market, By Country

Table29 North America Smart Lock Market, By Lock type

Table30 North America Smart Lock Market, By Products type

Table31 North America Smart Lock Market, By Communication protocol

Table32 North America Smart Lock Market, By End users

Table33 Europe: Smart Lock Market, By Products type

Table34 Europe: Smart Lock Market, By Communication protocol

Table35 Europe: Smart Lock Market, By Lock type

Table36 Europe: Smart Lock Market, By Deployment

Table37 Europe: Smart Lock Market, By End users

Table38 Europe: Smart Lock Market, By End-Users

Table39 Asia-Pacific: Smart Lock Market, By Country

Table40 Asia-Pacific: Smart Lock Market, By Lock type

Table41 Asia-Pacific: Smart Lock Market, By Products type

Table42 Asia-Pacific: Smart Lock Market, By Communication protocol

Table43 Asia-Pacific: Smart Lock Market, By Deployment

Table44 Asia-Pacific: Smart Lock Market, By End users

Table45 Asia-Pacific: Smart Lock Market, By End-Users

Table46 Middle East & Africa: Smart Lock Market, By Country

Table47 Middle East & Africa Smart Lock Market, By Lock type

Table48 Middle East & Africa Smart Lock Market, By Products type

Table49 Middle East & Africa: Smart Lock Market, By Communication protocol

Table50 Middle East & Africa: Smart Lock Market, By Deployment

Table51 Middle East & Africa: Smart Lock Market, By End users

Table52 Middle East & Africa: Smart Lock Market, By End-Users

Table53 Latin America: Smart Lock Market, By Country

Table54 Latin America Smart Lock Market, By Lock type

Table55 Latin America Smart Lock Market, By Products type

Table56 Latin America: Smart Lock Market, By Communication protocol

Table57 Latin America: Smart Lock Market, By Deployment

Table58 Latin America: Smart Lock Market, By End users

Table59 Latin America: Smart Lock Market, By End-Users

LIST OF FIGURES

FIGURE 1 Global Smart Lock market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Smart Lock Market

FIGURE 4 Value Chain of Global Smart Lock Market

FIGURE 5 Share of Global Smart Lock Market in 2020, by country (in %)

FIGURE 6 Global Smart Lock Market, 2020-2027,

FIGURE 7 Sub segments of Lock type

FIGURE 11 Global Smart Lock Market size by Lock type, 2020

FIGURE 11 Share of Global Smart Lock Market by Lock type, 2020 TO 2027

FIGURE 11 Global Smart Lock Market size by Products type, 2020

FIGURE 11 Share of Global Smart Lock Market by Products type, 2020 TO 2027

FIGURE 12 Global Smart Lock Market size by Communication protocol, 2020

FIGURE 13 Share of Global Smart Lock Market by Communication protocol, 2020 TO 2027

FIGURE 14 Global Smart Lock Market size by Deployment, 2020 TO 2027

FIGURE 15 Share of Global Smart Lock Market by Deployment, 2020 TO 2027

FIGURE 16 Global Smart Lock Market size by End users, 2020 TO 2027

FIGURE 17 Share of Global Smart Lock Market by End users, 2020 TO 2027

FIGURE 18 Share of Global Smart Lock Market by End-Users, 2020 TO 2027

FIGURE 17 Share of Global Smart Lock Market by End-Users, 2020 TO 2027


Smart Lock Market Speak to Analyst Request a Free Sample

Smart Lock Market Overview


The Smart Lock Market is projected to forecast a value of USD ~2 billion by 2027. The CAGR value of the market is estimated to gain 9% in the forecast year 2023. Smart locks are technological tools popularly known for offering advanced security to homes and other properties. These electromagnetic devices come with many advanced features such as Bluetooth connection, built-in wifi system, etc., to offer high-end security solutions to residents and other commercial spaces. Smart locks also come with a range of customization capabilities that can offer users secure entry and exit options and keep the property locked with fingerprint and electronic passwords.


The main growth driving source of the smart lock market is the propelling implementation of IoT, as smart locks are connected IoT devices. Since the smart lock system is built with an internet connection, it can be used without using one hand. As the adoption of connected devices is growing, the growth of the IoT market is also significantly growing. Due to such an adoption rate, smart-lock market revenue is also expected to drive more demand in the forecast period. Furthermore, many innovative approaches to transforming the smart locking system are appeasing the customers with their impressive features and builds, which would further intensify the revenue of the smart lock market.


Covid analysis 


Covid 19 has caused various unexpected changes in the global markets. During this period, the Smart Lock Market tends to grow rapidly. The market growth opportunities are numerous during this pandemic. Also, the smart-lock system prevents the use of hands to unlock or lock doors. The voice recognition feature is providing more popularity to the technology during the pandemic. The adoption of smart-lock in commercial spaces and residential has increased.


When using this technology the physical use of hands will reduce and control the spread of the virus on surfaces. There are few challenges in the market due to the global restrictions. The demand is high but the medium to supply the product is less. It is creating supply chain disruptions in the market. As per the Smart Lock Market Report, key players are enhancing the ways to supply smart-lock system. It will ultimately increase the overall smart lock market growth. 


Market dynamics 



  • Crucial market drivers 


The rise of IoT is the crucial driver for the smart-lock market. The smart-lock is one of the connected IoT devices. With the in build internet connection, the smart-lock system can be used without the use of hands. The penetration of IoT has a positive impact on the smart-lock market. It is a crucial driver as the use of IoT will increase more in the upcoming years. The Smart Lock Market Growth will be the highest due to the growth of the IoT market.


Further, the adoption rate of connected devices is massive. The adoption rate will reach the highest in the forecast period that will drive more demand and revenue for the smart-lock market. Also, innovation in the lock market is a crucial growth factor. The innovation in the market is offering impressive locking systems. It is ultimately created more opportunities and revenue for the market. The crucial drivers of the smart lock market will intensify during the forecast period. It will lead to a higher market growth rate among the key-regional places of the smart lock market. 



  • Market growth opportunities 


There are plenty of growth opportunities for the smart lock market. The innovation in the market will provide exceptional growth prospects. The innovation leads to product development. The upgraded and new versions of the smart-lock system will receive immense demand in the upcoming years. Also, the investment in the smart lock market is increasing in the forecast period.


It offers plenty of market growth opportunities. Due to high investments, the popularity, product range and product availability will increase. Furthermore, there is a crucial growth opportunity in this market. The rise of the concept of the smart home is the future of the market. Smart homes utility automation and IoT connected devices. The number of smart homes in the future will be massive. It is a crucial market growth opportunity that will offer high Market Demand.  



  • The market restraints 


The high initial cost is the major restraint in the connected IoT devices market. The cost is a serious issue in the Global Smart Lock Market. The demand for the smart lock may be affected due to the high cost in the long run. The hefty investments can make the end-users hesitant from purchasing the technology. Furthermore, the initial cost can affect the overall market expansion rate.


Secondly, the installation price of the smart-lock system is another major restraint in the market. It is a factor that can restrict the global demand and revenue in the forecast period. The smart lock is high-end technology. Experts are required to install this system in smart homes. Also, these requirements and high-cost issues can have a declining effect on the smart lock market. 



  • The market challenges 


The awareness about the smart lock is less. Only some regions have a higher awareness of these technologies. Most of the regions are unaware of the benefits and uses of this technology. It can affect the overall smart lock market demand. The market demand can remain stagnant in the forecast period. Also, less awareness can cause fewer market expansion possibilities for the market. Further, the customers have plenty of concerns regarding this product. The security and power failure queries are a significant challenge in this market. Also, the smart-locks system may shut down during power failure. This technical difficulty can restrict the overall growth of the market. 



  • Cumulative growth analysis 


As per the Smart Lock Market Analysis, growth trend of the smart lock market is impressive. The need for security, adoption of IoT and innovation is boosting the market demand. The high install and installation cost can affect the profitability of the market. However, the key players of the market are taking new cost-cutting measures in the forecast period. Also, the key players are taking initiatives to fix the power failure issue causing lock system shutdown. The market demand and growth rate of the market remains over the forecast period. 



  • Value chain analysis 


North America is holds the highest Smart Lock Market Share. The smart cities initiative in the North American region is driving more demand for the market. The investment rates are higher in this region. Also, the awareness about the smart lock is massive in North America. Due to all these factors, the region will witness the highest revenue rate during the forecast period. Further, the key players are taking plenty of product enhancement and market expansion measures. The governmental support for the smart-lock market is high in this region.


 Smart Lock Market


Segment overview 


By type 



  • Padlock 

  • Deadbolt 

  • Lever handles 


By application 



  • Enterprise 

  • Residential

  • Hospitality 

  • Critical enterprise 


By region 



  • North America 

  • Asia pacific 

  • Europe 

  • Latin America 

  • Middles East Africa 


Regional analysis 


North America holds more than 42% of the smart lock market share. It will maintain its dominance during the forecast period. The highest demand rate will be recorded in North America. Also, the powerful key players are making plenty of developments. The higher penetration of smart-lock system will continue in this region. Also, the adoption rate of this technology will grow immensely. Consumer spending on the smart-lock system is high in this region. The rising security concerns in this region are another market demand driving factor.


Further, most of the infrastructure is compatible with smart lock technology. These advantages provide exceptional growth of the smart lock market in North America. Secondly, the Asia Pacific is the next crucial regional player. The demand for the smart lock is high in the Asia pacific. The awareness about advanced technologies is rising in the Asia Pacific region. All these factors create promising growth opportunities for the smart lock market. Europe is another key player in the smart lock market. Also, the rising security concerns are driving plenty of demand in this region. The Middle East and Latin America are emerging smart lock market with plenty of growth potentials. 


Competitive landscape 


The competition in the smart lock market is moderate. The key players of the market are making exceptional development during the forecast. Also, new partnerships, new product launches and market expansion strategies are crucial plans. The competition will become severe with the entry of new key players. 


The key players of the smart lock market are 



  • Haven Holidays

  • Assa Abloy Group

  • Allegion Plc 

  • Kwikset

  • Dormakaba Holding AG

  • August, Inc.

  • Spectrum Brands Holdings, Inc

  • Master Lock

  • Cansec Systems Ltd

  • Salto Systems S.L.


Recent Developments 


February 2022


Dormakaba has acquired AtiQx Holding B.V., strengthening its core business and services in the Netherlands. Since AtiQ is one of the major electronic access control and workforce management providers, Dormakaba has now extended its service list, contributing more innovation to the smart lock market.


Vivint and New American Funding, too, have announced a strategic collaboration for developing smart lock systems that would help homeowners and homebuyers protect their property by automating their homes. This partnership has gained New American Funding more ability to make unique approaches for their customers to protect their homes.


Report overview 



  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments



Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The development of the internet of things and the implementation of advanced technology have been notable driving factors for smart locks market’s growth.

The segments covered in the study are lock type, product type, communication protocol, and end-users.

North America the leading region across the world that would gain maximum market share during the forecast period.

The global smart lock market’s valuation is calculated up to USD ~2 billion by 2027.

It is the advanced technologies that are booming the market with tremendous valuation. The technologies such as near-field communication, Bluetooth, ZigBee are important ones motivating the smart locks market to grow.