Smart Locks Market to see Rapid Growth by 2029

The global smart locks market is anticipated to grow at a CAGR of around 10.2% during the forecast period. The rising adoption of smartphones coupled with advanced wireless features, and growing security and safety concerns are the major factors driving the growth of the market. The adoption of a smart locking system due to the increasing robbery crimes is expected to positively influence product sales. The adoption of smart locks in various end-users such as residential, and commercial has gaining popularity due to the safety features provided by them. With smart lock systems, people can access their home privacy with their smartphones by giving instructions from anywhere. Additionally, the instructions are provided using a wireless protocol and a cryptographic key for executing the authorization process. The benefits offered by the smart lock systems such as enabling users to grant access to their locks directly from their phones and convenience of automatically unlocking door without having to reach for keys has increased its demand in home automation.

 Moreover, the market players are also introducing new and advanced locking systems to remain competitive in the market. For instance, in January 2020, The Kwikset, brand of Spectrum Brands Holdings, Inc. had launched Halo Touch, a Wi-Fi Smart lock into its family of Wi-Fi enabled Smart Locks. Halo Touch Smart Lock provides homeowners access to their home via fingerprint. It also comes with the ability to program and store up to 100 fingerprints. In November 2019, Master Lock had launched a Bluetooth Door Controller that offers security professionals and cost-effective keyless access control to customers from the convenience of their smartphone. Thus, the adoption of these smart locks in residential and commercial verticals will drive the growth of the market during the forecast period.

To Request a Sample of our Report on Smart Locks Market: https://www.omrglobal.com/request-sample/smart-lock-market

Market Coverage

  • The market number available for – 2022-2030
  • Base year- 2022
  • Forecast period- 2023-2030

Segment Covered- 

  • By Type
  • By Communication Protocol
  • By Application

Regions Covered-

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
  • Competitive Landscape- Assa Abloy AN, Allegion plc, Dormakaba Holding AG, Spectrum Brands Holdings, Inc, Salto Systems S.L, Onity, Inc., Cansec Systems Ltd., Master Lock Company LLC, Samsung Electronics Co., Ltd., among others. 

 

A full Report of Smart Locks Market is Available at: https://www.omrglobal.com/industry-reports/smart-lock-market

 

Smart Locks Market Report Segment

By Type

  • Padlocks
  • Lever Handles
  • Deadbolts
  • Others (Rim Latch Lock, Knob Lock)

By Communication Protocol

  • Bluetooth
  • Wi-Fi
  • Others (Zigbee, Z-Wave)

By Application

  • Residential
  • Government
  • Commercial

Smart Locks Market Report Segment by Region

North America

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia-Pacific

  • India
  • China
  • Japan 
  • South Korea
  • Rest of APAC

Rest of the World

  • Latin America 
  • Middle East & Africa

COMPANY PROFILES

  • ASSA ABLOY
  • ADVENT SECURITY SERVICES PTY LTD
  • ALLEGION PLC
  • BOWLEY LOCK COMPANY INC.
  • CANDY HOUSE, INC.
  • CANSEC SYSTEMS LTD.
  • DAHUA TECHNOLOGY CO., LTD
  • DESSMANN SCHLIESSANLAGEN GMBH
  • DORMAKABA HOLDING AG
  •  GANTNER ELECTRONIC GMBH
  • HAVEN, INC.
  • KWIKSET CORPORATION
  • MASTER LOCK COMPANY LLC
  • MIWA LOCK CO., LTD.
  • ONITY, INC.
  • OTTO LLC
  • SALTO SYSTEMS S.L.
  • SAMSUNG ELECTRONICS CO., LTD.
  • SCHLAGE LOCK CO LLC
  • SENTRILOCK, LLC
  • SHENZHEN VIANS ELECTRIC LOCK CO., LTD.
  • SPECTRUM BRANDS HOLDINGS, INC.
  • UNIKEY TECHNOLOGIES INC.

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @  https://www.omrglobal.com/report-customization/smart-lock-market

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

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