Global Smart Lock Market Overview:

A smart lock refers to a keyless electro-mechanical door lock system that interacts with other electronic devices installed at a particular space by using connected technology, such as Wi-Fi or Bluetooth. It performs the locking and unlocking by following commands from an authorized source, access notifications through SMS and e-mail, and monitor visitor activity via video camera recording. These locks work by synchronizing with smart lock apps installed on smartphones or with a specific electric fob. Smart locks can be operated remotely and be highly customized as per the user’s security requirements.

The latest report published by IMARC Group, titled “Smart Lock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the smart lock market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market.  The global smart lock market reached a value of US$ 1.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.9 Billion by 2027, exhibiting at a CAGR of 21.8% during 2022-2027.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Global Smart Lock Market Trends:

The market is primarily driven by the rising demand for home security solutions. This can be attributed to the increasing incidences of home intrusion, theft and burglaries. Also, the continual integration with the internet of things (IoT), cloud-based services, big data, and artificial intelligence (AI) is also providing a significant boost to the smart lock market. Moreover, the inclusion of numerous additional features in smart locks, such as automatic perimeter locking and timed access, extensive research and development (R&D), and the inflating disposable incomes of the masses are further contributing to the market growth.

Global Smart Lock Market 2022-2027 Analysis and Segmentation:

Some of the major players operating in the industry include:

• Assa Abloy
• Allegion Plc
• Dorma+Kaba Holding AG
• Spectrum Brands Holdings, Inc.
• Salto Systems S.L.
• Onity, Inc.
• Cansec Systems Ltd.
• Gantner Electronic GmbH
• Master Lock Company LLC
• MIWA Lock Co.
• Samsung Electronics Co., Ltd.
• Amadas Inc.
• Sentrilock
• LLC
• Avent Security
• Dessmann

Market Breakup by Lock Type:

• Deadbolts
• Lever Handles
• Padlocks
• Others

Market Breakup by Communication Protocol:

• Bluetooth
• Wi-Fi
• Others

Market Breakup by End-User:

• Commercial
• Residential
• Institution and Government
• Industrial

Market Breakup by Region:

• Europe
• Asia Pacific
• Middle East and Africa,
• Latin America.

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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