The MMR market overview report offers a comprehensive analysis of the Smart Lock Market, encompassing both global and local players across various countries. It provides insights into key players, market trends, and industry outlook through comparative analysis.
Smart Lock Market Size:
Smart Lock Market size was valued at US$ 2.11 Bn. in 2022 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn.
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Smart Lock Market Report Scope and Research Methodology:
This report conducts an in-depth analysis of the Smart Lock Market, encompassing segmentation, market size, share, growth, trends, and factors influencing growth. It also includes PORTER and PESTEL analyses, considering the potential impact of micro-economic factors.
Smart Lock Market Segmentation:
The report covers various market segments and sub-segments, providing a detailed analysis for each:
by Lock Type
Deadbolt Locks
Lever Handles
Server locks & Latches
Knob Locks
Others
The segment for deadbolts had the largest market share in terms of lock type in 2022. The expansion of this market is being driven by the expanding applications in different industries and simplicity of installation. One of the most popular styles of exterior home locks is the deadbolt.
by Communication
Protocol Bluetooth
WiFi
Z-Wave
Others
The smart lock market for the Bluetooth communication protocol sector had the biggest market share in 2022, according to communication protocol. Users can only control their Bluetooth smart locks if they are close to their residences due to the 300-foot maximum range of these devices. It is a practical technology that may be applied to a variety of tasks, such as access control, jewelry storage, and asset security. It is a very economical smart lock with a setup that offers convenience and security to customers. During the anticipated timeframe, this aspect is driving up demand for smart locks.
by Unlocking Mechanism
Keypad
Card Key
Touch Based
Key Fob
Smartphone-Based
The Touch Based section of the smart lock industry has the fastest growing unlocking mechanism in terms of unlocking method. The touch-based unlocking system for smart locks uses fingerprint recognition technology. It is quick and simple to identify and authenticate persons using their fingerprints. Modern home security systems can benefit greatly from biometric authentication, which is also a trend that is rising with the smart home movement. Biometric authentication uses personally identifiable information maintained securely on-device (whether the lock itself or a fingerprint-secured access card) for maximum privacy, in contrast to password-protected smart locks. Because of this, biometrics are hard to hack.
by Vertical
Commercial
Residential
Institutional & Government
Industrial
Transportation & Logistic
According to Vertical, the residential market for smart locks held a 65.7% revenue share in 2022. The market expansion is primarily explained by the expanding global adoption of smart homes as well as the rise in new construction and renovation projects in the industry over the course of the projected year. The usage of smart locks in the domestic market is also anticipated to increase as advanced security technologies like door and window opening sensors, motion detectors, and remote door locking/unlocking become more affordable.
Table of Content: Smart Lock Market
Part 01: Executive Summary
Part 02: Scope of the Smart Lock Market Report
Part 03: Global Smart Lock Market Landscape
Part 04: Global Smart Lock Market Sizing
Part 05: Global Smart Lock Market Segmentation
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key Players:
1. ASSA ABLOY (Sweden)
2. Allegion plc (Ireland)
3. dormakaba Group (Switzerland)
4. Spectrum Brands Holdings, Inc. (U.S.)
5. Salto Systems S.L. (Spain)
6. Carrier (U.S.)
7. Cansec Systems Ltd. (Canada)
8. GANTNER Group (UAE)
9. Master Lock Company LLC (U.S.)
10.Master Lock Company LLC (U.S.)
11.Samsung (South Korea)
12.SentriLock, (U.S.)
13.Avent Security (Vietnam)
14.DESSMANN Schliessanlagen GmbH (Singapore)
15.Haven Lock, Inc., (U.S.)
16.Dahua Technology Co., Ltd (China)
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The report addresses key questions about the Smart Lock Market:
- Who holds the largest market share?
- What drives market growth?
- What restrains market growth?
- Which trends are expected to generate additional revenue?
- What recent industry trends can be leveraged for additional revenue streams?
Smart Lock Market Regional Insights:
The report provides regional insights for the industrial gas market in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The Asia-Pacific region is expected to dominate this market.
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 segments (2023−2029)
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – Detailed analysis by segment and sub-segment, categorized by region
- Competitive Landscape – Profiles of selected key players from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, and Regional players
- 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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