The global smart lock market size is expected to reach USD 8.87 billion in 2028 at a CAGR of 15.0% during the forecast period, according to the latest report by Emergen Research. Increasing need for safety and security of property, personal items, and other valuable items, rising adoption of smart home automation systems, growing preference for smart locks in commercial and corporate buildings, and rapid advancements in the smart lock technology are key factors expected to drive market revenue growth over the forecast period. Growing use of smart locks in hospitality sector to improve in-room security and to regulate access to authorized individuals in factories, airports, banks, and defense zones, among others are some other key factors fueling the revenue growth of the market.
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in RD activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
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Competitive Outlook: The leading companies operating in the Smart Lock market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Top Companies Operating in the Smart Lock Market and Profiled in the Report are:
Assa Abloy AB, Allegion plc, dormakaba Holding AG, Spectrum Brands Holdings, Inc., SALTO Systems, Onity Inc., Samsung SDS, Panasonic Corporation, The Master Lock Company, and Godrej Group
Objectives of the Report:
Study of the global Smart Lock market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
Industrial structure analysis of the Smart Lock market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Smart Lock market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Smart Lock market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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Segments Covered in this report are:
Lock Type Outlook (Revenue, USD Billion; 2018–2028)
- Lever Handles
- Deadbolts
- Padlocks
- Others
Authentication Method Outlook (Revenue, USD Billion; 2018–2028)
- Pin code
- Biometric
- RFID Cards
Communication Protocol Outlook (Revenue, USD Billion; 2018–2028)
- Wi-Fi
- Bluetooth
- Others
Regional Segmentation:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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