Smart Lock Market by End-users and Geography - Forecast and Analysis 2019-2023

Smart Lock Market by End-users and Geography - Forecast and Analysis 2019-2023

Global Smart Lock Market: About this market

Technavio’s smart lock market analysis considers sales from residential and other end-users. Our study also finds the sales of smart lock in APAC, Europe, North America, South America, and MEA. In 2018, the residential segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as facial recognition, voice activation, geofencing, and other smart lock features will play a significant role in the residential segment to maintain its market position. Also, our global smart lock market report looks at factors such as developments in connectivity technologies, integration of HM technologies in smart locks, growing ecosystem of IoT devices. However, high cost of smart locks, growing security and privacy concerns, and interoperability issues in smart locks may hamper the growth of the smart lock industry over the forecast period.

Global Smart Lock Market: Overview

Integration of HMI technologies in smart locks

Vendors in the market are integrating human-machine interface (HMI) technologies including facial recognition, biometrics, and virtual assistants in their product offerings. These technologies are enabling the end-users to control functions such as locking, unlocking, and changing settings of smart locks through voice commands. These features also help in enhancing security and the user experience will lead to the expansion of the global smart lock market at a CAGR of almost 15% during the forecast period.

Integration of advanced technologies in smart locks

The integration of wireless technologies, such as Wi-Fi, BLE, and Zigbee, enables end-users to connect with other smart home devices such as smart alarms, smart doorbells, and security cameras. In addition, to enhance the security system of smart locks, several smart lock manufacturers are introducing modern technologies such as fingerprint and facial recognition. Some of the smart locks also incorporate built-in alarms and cameras to offer additional features. The integration of advanced technologies in smart locks products ensures high security and reliability. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global smart lock market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global smart lock market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart lock manufacturers, that include Allegion Plc, APX Group Holdings Inc., ASSA ABLOY AB, dormakaba Holding AG, Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., Spectrum Brands Holdings Inc., and Yunding Network Technology (Beijing) Co. Ltd

Also, the smart lock market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Product offerings
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global electronics market
      • Table Segments of global electronics market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by end-user
    • Table End-user - Market share 2018-2023 (%)
    • Comparison by end-user
      • Table Comparison by end-user
    • Residential - Market size and forecast 2018-2023
      • Table Residential - Market size and forecast 2018-2023 ($ millions)
      • Table Residential - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 ($ millions)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by end-user
      • Table Market opportunity by end-user
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Rising number of strategic partnerships and alliances
    • Raising funds for smart lock startups through crowdfunding platforms
    • Integration of advanced technologies in smart locks
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Allegion Plc
      • Table Allegion Plc - Vendor overview
      • Table Allegion Plc - Product segments
      • Table Allegion Plc - Organizational developments
      • Table Allegion Plc - Geographic focus
      • Table Allegion Plc - Segment focus
      • Table Allegion Plc - Key offerings
    • APX Group Holdings Inc.
      • Table APX Group Holdings Inc. - Vendor overview
      • Table APX Group Holdings Inc. - Business segments
      • Table APX Group Holdings Inc. - Organizational developments
      • Table APX Group Holdings Inc. - Geographic focus
      • Table APX Group Holdings Inc. - Key offerings
    • ASSA ABLOY AB
      • Table ASSA ABLOY AB - Vendor overview
      • Table ASSA ABLOY AB - Product segments
      • Table ASSA ABLOY AB - Organizational developments
      • Table ASSA ABLOY AB - Geographic focus
      • Table ASSA ABLOY AB - Segment focus
      • Table ASSA ABLOY AB - Key offerings
    • dormakaba Holding AG
      • Table dormakaba Holding AG - Vendor overview
      • Table dormakaba Holding AG - Business segments
      • Table dormakaba Holding AG - Organizational developments
      • Table dormakaba Holding AG - Geographic focus
      • Table dormakaba Holding AG - Segment focus
      • Table dormakaba Holding AG - Key offerings
    • Honeywell International Inc.
      • Table Honeywell International Inc. - Vendor overview
      • Table Honeywell International Inc. - Business segments
      • Table Honeywell International Inc. - Organizational developments
      • Table Honeywell International Inc. - Geographic focus
      • Table Honeywell International Inc. - Segment focus
      • Table Honeywell International Inc. - Key offerings
    • Napco Security Technologies Inc.
      • Table Napco Security Technologies Inc. - Vendor overview
      • Table Napco Security Technologies Inc. - Product segments
      • Table Napco Security Technologies Inc. - Organizational developments
      • Table Napco Security Technologies Inc. - Geographic focus
      • Table Napco Security Technologies Inc. - Key offerings
    • Salto Systems SL
      • Table Salto Systems SL - Vendor overview
      • Table Salto Systems SL - Product segments
      • Table Salto Systems SL - Organizational developments
      • Table Salto Systems SL - Key offerings
    • Samsung Electronics Co. Ltd.
      • Table Samsung Electronics Co. Ltd. - Vendor overview
      • Table Samsung Electronics Co. Ltd. - Business segments
      • Table Samsung Electronics Co. Ltd. - Organizational developments
      • Table Samsung Electronics Co. Ltd. - Geographic focus
      • Table Samsung Electronics Co. Ltd. - Segment focus
      • Table Samsung Electronics Co. Ltd. - Key offerings
    • Spectrum Brands Holdings Inc.
      • Table Spectrum Brands Holdings Inc. - Vendor overview
      • Table Spectrum Brands Holdings Inc. - Business segments
      • Table Spectrum Brands Holdings Inc. - Organizational developments
      • Table Spectrum Brands Holdings Inc. - Geographic focus
      • Table Spectrum Brands Holdings Inc. - Segment focus
      • Table Spectrum Brands Holdings Inc. - Key offerings
    • Yunding Network Technology (Beijing) Co. Ltd.
      • Table Yunding Network Technology (Beijing) Co. Ltd. - Vendor overview
      • Table Yunding Network Technology (Beijing) Co. Ltd. - Product segments
      • Table Yunding Network Technology (Beijing) Co. Ltd. - Organizational developments
      • Table Yunding Network Technology (Beijing) Co. Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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