Smart Door Lock Market Overview
The Smart Door Lock Market was valued at USD 2.33 Billion in 2023, and from 2024 to 2030, it is anticipated to grow at a CAGR of 19.6%.
The market for modern locks for residential and commercial doors is referred to as the “smart door lock market” within the home automation sector. Through integration with digital platforms and mobile devices, Smart Door locks are intended to offer improved security, convenience, and remote access control.
Smart Door Lock Market Report Scope and Research Methodology
The popularity of smart door locks has been sparked by the growing trend of home automation as well as a demand for linked, smart houses. The ability to remotely control and connect security systems with other smart devices is something that consumers are increasingly seeking for.
Smart door locks offer improved security features including remote monitoring, tamper warnings, and the capability to grant momentary access to visitors or service providers. Homeowners are drawn to remote access control and keyless entry because of their ease.
An increase in home deliveries is due to the expansion of e-commerce and online purchasing, which has increased demand for safe package delivery. Smart door locks make it possible for delivery employees to safely enter a homeowner’s property to deliver packages. This feature makes it easier for users to manage and keep an eye on their locks from their smartphones, which increases the user-friendliness of smart door locks. Some smart door locks have energy-saving functions like proximity-based automated locking or unlocking that can increase energy efficiency and appeal to customers who are concerned about the environment.
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Smart Door Lock Market Regional Insights
Due to developments in the technology of smart locks, North America, which held the highest market share in 2023 with a volume share of about 39%, is anticipated to have considerable growth throughout the forecast period. This is primarily due to widespread technology adoption and the quick growth of smart homes in the United States. By the end of 2023, for instance, roughly 30% of internet-connected households in the U.S. plan to purchase a smart lock. Customers’ strong purchasing power and growing safety concerns, particularly in important infrastructure and home applications, have led to a legislative climate that is favourable of their adoption.
Smart Door Lock Market Segmentation
Product Type: Keyless Entry Systems: These comprise voice-activated locks, biometric locks (facial recognition, fingerprint), and locks that require a PIN number.
Locks that can communicate with cell phones directly through Bluetooth to control access. Locks that can be opened remotely and controlled by smart home platforms or mobile apps by connecting to the internet via Wi-Fi. Locks that connect to smart home systems using wireless communication protocols like Z-Wave or Zigbee. Combining traditional key locks with electronic access techniques are hybrid locks.
Smart Door Lock Market Key Players
ASSA ABLOY’s August Home, Inc.
Security Avent
Cansec Systems Limited.
Haslock, Inc.
Spectrum Brands Holdings, Inc.’s Kwikset
ASSA ABLOY’s MUL-T-LOCK TECHNOLOGIES LTD
(Allegion Plc) Schlage
Prior to becoming Zigbang Co., Ltd., Samsung SDS
Inc. Sentrilock
Intelligent Locking Logic Private Limited
Technology Company UniKey Inc.
ASSA ABLOY’s Yale Locks
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Key questions answered in the Smart Door Lock Market are:
- What is Smart Door Lock?
- What was the Smart Door Lock market size in 2023?
- What is the growth rate of the Smart Door Lock Market?
- Which are the factors expected to drive the Smart Door Lock market growth?
- What are the different segments of the Smart Door Lock Market?
- What growth strategies are the players considering to increase their presence in Smart Door Lock?
- What are the upcoming industry applications and trends for the Smart Door Lock Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart Door Lock Market?
- What segments are covered in the Smart Door Lock Market?
- Who are the leading companies and what are their portfolios in Smart Door Lock Market?
- What segments are covered in the Smart Door Lock Market?
- Who are the key players in the Smart Door Lock market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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