Smart Lock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global smart lock market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 19.8% during 2023-2028.
A smart lock is an electro-mechanical door lock system that performs the locking and unlocking function upon receiving commands from an authorized source. These commands are usually transmitted through smartphones, wearable devices or tablets using Wi-Fi or Bluetooth. Smart locks can be monitored from any location and customized to restrict universal access. Furthermore, they provide monitoring features such as access notifications through SMS and e-mail and video camera with recording capabilities to provide visuals of the person at the door. They also have features such as auto-locking options that automatically lock a door if left unlocked for a specific period and perimeter auto-locking that automatically locks the door if the user’s smartphone is outside the designated perimeter.
Increasing acceptance of advanced home security solutions and usage of smart devices are among the key factors driving the global market. A rising number of security threat incidents along with the development of smart cities have created the need for smart locks in both the residential and commercial sectors. Smart locks have high durability and low installation costs and provide a greater sense of security to the user. Consequently, they are rapidly replacing the traditional locking systems that included bulky locks with keys that are more prone to loss and theft. Additionally, owing to rising urbanization and disposable income along with robust growth of the IoT technology, people are more inclined toward smart-technology-based assistance for their daily life functioning. Furthermore, implementation of innovative technologies, such as cloud-based locking/unlocking that enables the user to access these locks through a virtual device remotely, is also expected to catalyze the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart lock market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on lock type, communication protocol and end-user.
Breakup by Lock Type:
Deadbolts
Lever Handles
Padlocks
Others
Breakup by Communication Protocol:
Bluetooth
Wi-Fi
Others
Breakup by End-User:
Commercial
Residential
Institution and Government
Industrial
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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, etc.
Key Questions Answered in This Report
1. What was the size of the global smart lock market in 2022?
2. What is the expected growth rate of the global smart lock market during 2023-2028?
3. What has been the impact of COVID-19 on the global smart lock market?
4. What are the key factors driving the global smart lock market?
5. What is the breakup of the global smart lock market based on the lock type?
6. What is the breakup of the global smart lock market based on the communication protocol?
7. What is the breakup of the global smart lock market based on end-user?
8. What are the key regions in the global smart lock market?
9. Who are the key players/companies in the global smart lock market?
A smart lock is an electro-mechanical door lock system that performs the locking and unlocking function upon receiving commands from an authorized source. These commands are usually transmitted through smartphones, wearable devices or tablets using Wi-Fi or Bluetooth. Smart locks can be monitored from any location and customized to restrict universal access. Furthermore, they provide monitoring features such as access notifications through SMS and e-mail and video camera with recording capabilities to provide visuals of the person at the door. They also have features such as auto-locking options that automatically lock a door if left unlocked for a specific period and perimeter auto-locking that automatically locks the door if the user’s smartphone is outside the designated perimeter.
Increasing acceptance of advanced home security solutions and usage of smart devices are among the key factors driving the global market. A rising number of security threat incidents along with the development of smart cities have created the need for smart locks in both the residential and commercial sectors. Smart locks have high durability and low installation costs and provide a greater sense of security to the user. Consequently, they are rapidly replacing the traditional locking systems that included bulky locks with keys that are more prone to loss and theft. Additionally, owing to rising urbanization and disposable income along with robust growth of the IoT technology, people are more inclined toward smart-technology-based assistance for their daily life functioning. Furthermore, implementation of innovative technologies, such as cloud-based locking/unlocking that enables the user to access these locks through a virtual device remotely, is also expected to catalyze the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart lock market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on lock type, communication protocol and end-user.
Breakup by Lock Type:
Deadbolts
Lever Handles
Padlocks
Others
Breakup by Communication Protocol:
Bluetooth
Wi-Fi
Others
Breakup by End-User:
Commercial
Residential
Institution and Government
Industrial
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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, etc.
Key Questions Answered in This Report
1. What was the size of the global smart lock market in 2022?
2. What is the expected growth rate of the global smart lock market during 2023-2028?
3. What has been the impact of COVID-19 on the global smart lock market?
4. What are the key factors driving the global smart lock market?
5. What is the breakup of the global smart lock market based on the lock type?
6. What is the breakup of the global smart lock market based on the communication protocol?
7. What is the breakup of the global smart lock market based on end-user?
8. What are the key regions in the global smart lock market?
9. Who are the key players/companies in the global smart lock market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL SMART LOCK MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Lock Type
5.5 Market Breakup by Communication Protocol
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY LOCK TYPE
6.1 Deadbolts
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lever Handles
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Padlocks
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 MARKET BREAKUP BY COMMUNICATION PROTOCOL
7.1 Bluetooth
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Wi-Fi
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 MARKET BREAKUP BY END-USER
8.1 Commercial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Residential
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Institution and Government
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Industrial
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Assa Abloy
14.3.2 Allegion Plc
14.3.3 Dorma+Kaba Holding AG
14.3.4 Spectrum Brands Holdings, Inc.
14.3.5 Salto Systems S.L.
14.3.6 Onity, Inc.
14.3.7 Cansec Systems Ltd.
14.3.8 Gantner Electronic GmbH
14.3.9 Master Lock Company LLC
14.3.10 MIWA Lock Co.
14.3.11 Samsung Electronics Co., Ltd.
14.3.12 Amadas Inc.
14.3.13 Sentrilock, LLC
14.3.14 Avent Security
14.3.15 Dessmann
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL SMART LOCK MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Lock Type
5.5 Market Breakup by Communication Protocol
5.6 Market Breakup by End-User
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY LOCK TYPE
6.1 Deadbolts
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lever Handles
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Padlocks
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 MARKET BREAKUP BY COMMUNICATION PROTOCOL
7.1 Bluetooth
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Wi-Fi
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 MARKET BREAKUP BY END-USER
8.1 Commercial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Residential
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Institution and Government
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Industrial
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 North America
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Europe
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Asia Pacific
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Assa Abloy
14.3.2 Allegion Plc
14.3.3 Dorma+Kaba Holding AG
14.3.4 Spectrum Brands Holdings, Inc.
14.3.5 Salto Systems S.L.
14.3.6 Onity, Inc.
14.3.7 Cansec Systems Ltd.
14.3.8 Gantner Electronic GmbH
14.3.9 Master Lock Company LLC
14.3.10 MIWA Lock Co.
14.3.11 Samsung Electronics Co., Ltd.
14.3.12 Amadas Inc.
14.3.13 Sentrilock, LLC
14.3.14 Avent Security
14.3.15 Dessmann
LIST OF TABLES
Table 1: Global: Smart lock Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Smart lock Market Forecast: Breakup by Lock Type (in Million US$), 2023-2028
Table 3: Global: Smart lock Market Forecast: Breakup by Communication Protocol (in Million US$), 2023-2028
Table 4: Global: Smart lock Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 5: Global: Smart lock Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Smart lock Market Structure
Table 7: Global: Smart lock Market: Key Players
Table 1: Global: Smart lock Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Smart lock Market Forecast: Breakup by Lock Type (in Million US$), 2023-2028
Table 3: Global: Smart lock Market Forecast: Breakup by Communication Protocol (in Million US$), 2023-2028
Table 4: Global: Smart lock Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 5: Global: Smart lock Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Smart lock Market Structure
Table 7: Global: Smart lock Market: Key Players
LIST OF FIGURES
Figure 1: Global: Smart lock Market: Major Drivers and Challenges
Figure 2: Global: Smart lock Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Smart lock Market: Breakup by Lock Type (in %), 2022
Figure 4: Global: Smart lock Market: Breakup by Communication Protocol (in %), 2022
Figure 5: Global: Smart lock Market: Breakup by End-User (in %), 2022
Figure 6: Global: Smart lock Market: Breakup by Region (in %), 2022
Figure 7: Global: Smart lock Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Smart lock Industry: SWOT Analysis
Figure 9: Global: Smart lock Industry: Value Chain Analysis
Figure 10: Global: Smart lock Industry: Porter’s Five Forces Analysis
Figure 11: Global: Smart lock (Deadbolts) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Smart lock (Deadbolts) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Smart lock (Lever Handles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Smart lock (Lever Handles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Smart lock (Padlocks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Smart lock (Padlocks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Smart lock (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Smart lock (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Smart lock (Bluetooth) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Smart lock (Bluetooth) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Smart lock (Wi-Fi) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Smart lock (Wi-Fi) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Smart lock (Other Communication Protocols) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Smart lock (Other Communication Protocols) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Smart lock (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Smart lock (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Smart lock (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Smart lock (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Smart lock (Institution and Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Smart lock (Institution and Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Smart lock (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Smart lock (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Europe: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Europe: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Asia Pacific: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Asia Pacific: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Middle East and Africa: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Middle East and Africa: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Latin America: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Latin America: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 1: Global: Smart lock Market: Major Drivers and Challenges
Figure 2: Global: Smart lock Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Smart lock Market: Breakup by Lock Type (in %), 2022
Figure 4: Global: Smart lock Market: Breakup by Communication Protocol (in %), 2022
Figure 5: Global: Smart lock Market: Breakup by End-User (in %), 2022
Figure 6: Global: Smart lock Market: Breakup by Region (in %), 2022
Figure 7: Global: Smart lock Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Smart lock Industry: SWOT Analysis
Figure 9: Global: Smart lock Industry: Value Chain Analysis
Figure 10: Global: Smart lock Industry: Porter’s Five Forces Analysis
Figure 11: Global: Smart lock (Deadbolts) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Smart lock (Deadbolts) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Smart lock (Lever Handles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Smart lock (Lever Handles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Smart lock (Padlocks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Smart lock (Padlocks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Smart lock (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Smart lock (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Smart lock (Bluetooth) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Smart lock (Bluetooth) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Smart lock (Wi-Fi) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Smart lock (Wi-Fi) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Smart lock (Other Communication Protocols) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Smart lock (Other Communication Protocols) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Smart lock (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Smart lock (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Smart lock (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Smart lock (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Smart lock (Institution and Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Smart lock (Institution and Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Smart lock (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Smart lock (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Europe: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Europe: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Asia Pacific: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Asia Pacific: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Middle East and Africa: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Middle East and Africa: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Latin America: Smart lock Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Latin America: Smart lock Market Forecast: Sales Value (in Million US$), 2023-2028
