Global Smart Lock Market Size Was Valued at USD 2.10 Billion In 2022 And Is Projected to Reach USD 9.81 Billion By 2030, Growing at A CAGR of 18.7% From 2022 To 2030.

The Smart Lock Market is undergoing a transformative evolution, propelled by advancements in technology and shifting consumer preferences towards connected and secure living solutions. Smart locks, equipped with features like remote access control, keyless entry, and integration with home automation systems, are revolutionizing traditional door security mechanisms.

One of the key drivers of the smart lock market's growth is the increasing emphasis on convenience and accessibility. With smart locks, users can unlock their doors using a smartphone app, keypad entry, or even voice commands, eliminating the need for physical keys. This convenience is particularly appealing to busy homeowners, renters, and property managers seeking seamless access management solutions.

Players Covered in the Smart Lock Market are:

ASSA ABLOY (Sweden), Samsung Group (South Korea), Panasonic Corporation (Japan), Guangdong Be-Tech Security Systems (China), Honeywell International Inc. (U.S.), DESSMANN (China), The Chamberlain Group Inc. (U.S.), Kaadas (Australia), Masterlock (U.S.), August Home (U.S.), Kwikset (U.S.), Techlicious LLC. (U.S.),Godrej Group (India), Adel Marketing (M) Sdn. Bhd. (Malaysia),SCHLAGE (U.S.)

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The global Smart Lock Market is in-depth and offers a comprehensive analysis of the major growth determinants, the market share, current trends, key players, and their future predictions. In addition, market demand and supply, each geographical region's growth rate, and market potential are all included in the Smart Lock Market study. The market research includes raw materials, marketing channels, client surveys, industry trends and proposals, CAGR status, product scope Weather Monitoring Solutions and Services Market, major leading countries/regions, market risk, and market driving force. The market prediction was based on a thorough market investigation completed by several industry experts

Segmentation Analysis of the Smart Lock Market Report:

The Smart Lock Market can be segmented based on various factors to provide a comprehensive understanding of the industry. Common segmentation criteria include:

By Type          

  • Deadbolt
  • Lever Handles
  • Padlocks
  • Others (Knob)

By Product    

  • Biometric Door Locks
  • Smart Card Door Locks
  • Electric Strike Door Locks
  • Others (Keypad Door Lock)

By Technology          

  • Bluetooth-Based
  • Wi-Fi-Based

By End User   

  • Commercial
  • Residential
  • Government

Intelligent Agencies Market Share Data Market Segment by Regions and Countries Level Analysis:

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

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Key Industry Developments in the Smart Lock Market

  • In October 2023, Honeywell acquired Singtel's smart home business, including its Zigbee-based smart lock system, for an undisclosed sum. This move strengthens Honeywell's position in the Asia-Pacific smart lock market and expands its product portfolio.
  • In October 2023, Yale, a renowned lock manufacturer, announced a partnership with Nuki, a leading European smart lock provider, to launch its products in the European market. This strategic alliance combines Yale's brand recognition with Nuki's innovative technology, aiming to capture a significant share of the European smart lock market.
  • In August 2023, Tech giant Samsung announced the integration of its SmartThings platform with several popular smart lock brands, including Schlage, Yale, and August Home. This integration allows users to control their smart locks through the SmartThings app and create automated routines for enhanced convenience and security.

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