Market Research Logo

Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023

Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023

“The overall smart lock market is expected to grow at a CAGR of 13.11% between 2017 and 2023”
The smart lock market is expected to reach USD 2.67 billion by 2023 from USD 1.28 billion in 2017, at a CAGR of 13.11% between 2017 and 2023. The growing security and safety concerns is one of the major factors fueling the growth of this market. Moreover, the enhanced features compared with traditional lock systems and rising adoption of smartphones and other connected devices are expected to generate demand for these systems. The key restraining factors for the growth of this market are the high cost and perception of unreliability and lack of awareness among customers.

“Deadbolts is expected to hold the largest share of the smart lock market during the forecast period”
The deadbolts segment is expected to hold the largest share of the smart lock market based on lock type during the forecast period. The benefits associated with deadbolts such as low installation cost, high durability, and high security from the intense intrusion or attack in the residential, commercial, and others applications contribute to high growth of the market for this segment.

“The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period”
The market for the Wi-Fi communication protocol is expected to grow at the highest CAGR between 2017 and 2023. The connectivity benefits provided by Wi-Fi that make smart locks compatible with various connected devices, such as smartphones, personal computers, and tablets, contribute to the growth of the market for Wi-Fi.

“The residential vertical is expected to hold the largest share of the smart lock market during the forecast period”
The residential vertical is expected to hold the largest share of the smart lock market during the forecast period. In the residential segment, the smart locks are used in both condominiums and individual houses. Checking access to the unauthorized person in residents or any other property is considered as the critical component of security to protect assets. The growth of the market for the residential vertical could be attributed to the increasing demand for smart homes, increasing urbanization, and security solutions.

“The smart lock market in APAC to grow at the highest CAGR between 2017 and 2023”
The market in APAC is expected to grow at the highest CAGR during 2017–2023. The market is expected to grow at a high rate and driven, primarily, by continuously growing infrastructure and increasing demand for the automated security products. The major factors driving the growth of the smart lock market in APAC is the huge population base, research and development (R&D) activities, and increasing urbanization in APAC.

During the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 = 37 %, Tier 2 = 47%, and Tier 3 = 16%
• By Designation: C-Level Executives = 46%, Directors = 36%, and Managers = 18%
• By Region: North America = 26%, Europe = 30%, APAC = 22%, South America = 13%, and Middle East & Africa = 9%

The report also profiles the key players in the smart lock market and analyzes their market rankings. The prominent players profiled in this report are ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US), among others.

Research Coverage:
This research report categorizes the overall smart lock market on the basis of lock type, communication protocol, vertical, and geography. Moreover, the report provides the value chain analysis of the smart lock industry. Furthermore, the report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market and the market ranking analysis.

Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall smart lock market and the market based on the considered segments. This report would help the stakeholders to understand the competitive landscape better, gain more insights to position their businesses better in the market, and make suitable go-to-market strategies. The report also helps the stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.


  • INTRODUCTION
    • OBJECTIVES OF STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • MARKETS COVERED
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED FOR STUDY
    • CURRENCY
    • PACKAGE SIZE
    • LIMITATIONS
    • MARKET STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET RANKING ESTIMATION
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN SMART LOCK MARKET
    • SMART LOCK MARKET, BY LOCK TYPE
    • SMART LOCK MARKET, BY COMMUNICATION PROTOCOL
    • SMART LOCK MARKET, BY VERTICAL
    • SMART LOCK MARKET, BY COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • VALUE CHAIN ANALYSIS
  • SMART LOCK MARKET, BY LOCK TYPE
    • INTRODUCTION
      • Table SMART LOCK MARKET, BY LOCK TYPE, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET, BY LOCK TYPE, 2015-2023 (MILLION UNITS)
    • DEADBOLTS
      • Table SMART LOCK MARKET FOR DEADBOLTS, BY VERTICAL, 2015-2023 (USD MILLION)
    • LEVER HANDLES
      • Table SMART LOCK MARKET FOR LEVER HANDLES, BY VERTICAL, 2015-2023 (USD MILLION)
    • PADLOCKS
      • Table SMART LOCK MARKET FOR PADLOCKS, BY VERTICAL, 2015-2023 (USD MILLION)
    • OTHER LOCKS
      • Table SMART LOCK MARKET FOR OTHER LOCKS, BY VERTICAL, 2015-2023 (USD MILLION)
  • SMART LOCK MARKET, BY COMMUNICATION PROTOCOL
    • INTRODUCTION
      • Table SMART LOCK MARKET, BY COMMUNICATION PROTOCOL, 2015-2023 (USD MILLION)
    • WI-FI
    • BLUETOOTH
    • OTHER PROTOCOLS
      • Z-WAVE
      • ZIGBEE
      • THREAD
      • NFC
  • SMART LOCK MARKET, BY VERTICAL
    • INTRODUCTION
      • Table SMART LOCK MARKET, BY VERTICAL, 2015-2023 (USD MILLION)
    • COMMERCIAL
      • HOSPITALITY
      • RETAIL STORES AND MALLS
      • HEALTHCARE
      • CORPORATE
        • Table SMART LOCK MARKET FOR COMMERCIAL, BY APPLICATION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL, BY LOCK TYPE, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL, BY REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL IN EUROPE, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL IN APAC, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR COMMERCIAL IN ROW, BY REGION, 2015-2023 (USD MILLION)
    • RESIDENTIAL
      • CONDOMINIUM
      • INDIVIDUAL HOUSES
        • Table SMART LOCK MARKET FOR RESIDENTIAL, BY APPLICATION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL, BY LOCK TYPE, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL, BY REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL IN EUROPE, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL IN APAC, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR RESIDENTIAL IN ROW, BY REGION, 2015-2023 (USD MILLION)
    • INSTITUTION & GOVERNMENT
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT, BY LOCK TYPE, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT, BY REGION, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT IN EUROPE, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT IN APAC, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET FOR INSTITUTION AND GOVERNMENT IN ROW, BY REGION, 2015-2023 (USD MILLION)
    • INDUSTRIAL
      • TRANSPORTATION & LOGISTICS
      • MANUFACTURING
      • OIL & GAS
      • ENERGY & POWER
        • Table SMART LOCK MARKET FOR INDUSTRIAL, BY APPLICATION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL, BY LOCK TYPE, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL, BY REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL IN EUROPE, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL IN APAC, BY COUNTRY/REGION, 2015-2023 (USD MILLION)
        • Table SMART LOCK MARKET FOR INDUSTRIAL IN ROW, BY REGION, 2015-2023 (USD MILLION)
  • SMART LOCK MARKET, BY GEOGRAPHY
    • INTRODUCTION
      • Table SMART LOCK MARKET, BY REGION, 2015-2023 (USD MILLION)
    • NORTH AMERICA
      • Table SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN NORTH AMERICA, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN NORTH AMERICA FOR COMMERCIAL, BY APPLICATION, 2015-2023 (USD MILLION)
      • US
        • Table SMART LOCK MARKET IN US, BY VERTICAL, 2015-2023 (USD MILLION)
      • CANADA
        • Table SMART LOCK MARKET IN CANADA, BY VERTICAL, 2015-2023 (USD MILLION)
      • MEXICO
        • Table SMART LOCK MARKET IN MEXICO, BY VERTICAL, 2015-2023 (USD MILLION)
    • EUROPE
      • Table SMART LOCK MARKET IN EUROPE, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN EUROPE, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN EUROPE FOR COMMERCIAL, BY APPLICATION, 2015-2023 (USD MILLION)
      • UK
        • Table SMART LOCK MARKET IN UK, BY VERTICAL, 2015-2023 (USD MILLION)
      • FRANCE
        • Table SMART LOCK MARKET IN FRANCE, BY VERTICAL, 2015-2023 (USD MILLION)
      • GERMANY
        • Table SMART LOCK MARKET IN GERMANY, BY VERTICAL, 2015-2023 (USD MILLION)
      • REST OF EUROPE
        • Table SMART LOCK MARKET IN REST OF EUROPE, BY VERTICAL, 2015-2023 (USD MILLION)
    • APAC
      • Table SMART LOCK MARKET IN APAC, BY COUNTRY, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN APAC, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN APAC FOR COMMERCIAL, BY APPLICATION, 2015-2023 (USD MILLION)
      • CHINA
        • Table SMART LOCK MARKET IN CHINA, BY VERTICAL, 2015-2023 (USD MILLION)
      • SOUTH KOREA
        • Table SMART LOCK MARKET IN SOUTH KOREA, BY VERTICAL, 2015-2023 (USD MILLION)
      • JAPAN
        • Table SMART LOCK MARKET IN JAPAN, BY VERTICAL, 2015-2023 (USD MILLION)
      • REST OF APAC
        • Table SMART LOCK MARKET IN REST OF APAC, BY VERTICAL, 2015-2023 (USD MILLION)
    • ROW
      • Table SMART LOCK MARKET IN ROW, BY REGION, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN ROW, BY VERTICAL, 2015-2023 (USD MILLION)
      • Table SMART LOCK MARKET IN ROW FOR COMMERCIAL, BY APPLICATION, 2015-2023 (USD MILLION)
      • MIDDLE EAST & AFRICA
        • Table SMART LOCK MARKET IN MIDDLE EAST AND AFRICA, BY VERTICAL, 2015-2023 (USD MILLION)
      • SOUTH AMERICA
        • Table SMART LOCK MARKET IN SOUTH AMERICA, BY VERTICAL, 2015-2023 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • SMART LOCK MARKET RANKING ANALYSIS, 2016
      • Table MARKET RANKING: TOP 5 PLAYERS IN SMART LOCK MARKET (2016)
    • COMPETITIVE SCENARIO
      • PRODUCT LAUNCHES AND DEVELOPMENTS AS KEY STRATEGY BETWEEN JANUARY 2015 AND JULY 2017
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • ACQUISITIONS
      • PARTNERSHIPS, EXPANSION, AGREEMENT, AND CONTRACT
  • COMPANY PROFILE
    • ASSA ABLOY
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • ALLEGION
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • DORMA+KABA
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • SPECTRUM BRANDS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • SALTO SYSTEMS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • ONITY
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • CANSEC SYSTEMS
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • KEY RELATIONSHIP
    • GANTNER ELECTRONIC
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • MASTER LOCK
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • RECENT DEVELOPMENTS
      • KEY RELATIONSHIP
    • MIWA LOCK
      • BUSINESS OVERVIEW
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
      • KEY RELATIONSHIP
    • SAMSUNG ELECTRONICS
    • SENTRILOCK
    • AVENT SECURITY
    • ADEL GROUP
    • DESSMANN
    • HAVEN LOCK
    • GATE
    • SHENZHEN VIANS ELECTRIC LOCK
    • ANVIZ GLOBAL
    • POLY-CONTROL INTERNATIONAL
    • KEY INNOVATORS
      • AUGUST HOME
      • CANDY HOUSE
      • DAHUA TECHNOLOGY
      • AMADAS
      • LOCKSTATE
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report