Rising Security Concerns to Drive the Smart Lock Market

Wed, 20 May 2020 5:20

Increasing penetration of the Internet of Things and Artificial Intelligence in-home solutions and rising need for sophisticated security systems due to thefts and burglaries drive the market growth. The integration of smart locks in car rental services prevents unauthorized access to vehicles. For instance, Drivy, a car rental company in Europe, allows the users to access the vehicles via a smartphone application. The user credentials are verified, and then the car can be unlocked. Similarly, premium car manufacturers are deploying smart lock technology in their vehicles, owing to rising customer demand.

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Key Highlights

  • The Bluetooth segment is expected to showcase a gradual increase in the coming years owing to its cost-effectiveness
  • The lever handle segment is projected to grow with the fastest CAGR on account of rising construction of hotels and resorts, requiring lever handles locks
  • The residential sector dominates the smart lock market on account of increasing adoption of smart home architecture, coupled with rising thefts and burglaries
  • Asia-Pacific is anticipated to emerge as a lucrative region for smart locks market due to rising smart city initiatives in various countries such as India and China

Key Players

  • ADEL Group (China)
  • Allegion plc (Ireland)
  • ASSA ABLOY AB (Sweden)
  • Avent Security (China)
  • Cansec Systems Ltd. (Canada)
  • Dessmann (Germany)
  • GANTNER Electronic GmbH (Austria)
  • Gate (the U.S.)
  • Haven Lock, Inc. (the U.S.)
  • Master Lock Company LLC (the U.S.)
  • MIWA Lock Co. (Japan)
  • Onity, Inc. (the U.S.)
  • Salto Systems S.L. (Spain)
  • Samsung Electronics Co., Ltd. (South Korea)
  • SentriLock, LLC (the U.S.)
  • Shenzhen Vians Electric Lock Co., Ltd. (China)
  • Spectrum Brands Holdings, Inc. (the U.S.)

Smart Lock Market Segmentation

By Lock Type

  • Deadbolts
  • Lever handles
  • Padlocks

By Communication Protocol

  • Bluetooth
  • Wi-Fi
  • Zigbee
  • NFC

By Application

  • Commercial sector
  • Residential sector
  • Industrial sector

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • The Czech Republic
  • Poland
  • Slovakia
  • Slovenia
  • The Rest of Europe

Asia-Pacific (APAC)

  • China
  • Japan
  • India
  • Korea
  • Australia
  • Southeast Asia
  • The Rest of Asia-Pacific

South America

  • Brazil
  • Argentina
  • Chile
  • The Rest of South America

The Middle East and Africa (MEA)

  • South Africa
  • Egypt
  • The UAE
  • Saudi Arabia
  • The Rest of MEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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