Smart Lock Market Size, Share & Trends Analysis Report By Type (Deadbolt, Lever Handle, Padlock), By Application (Residential, Hospitality), By Region, And Segment Forecasts, 2020 - 2027

Published: Feb, 2020 | Pages: 113 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)

The global smart lock market demand is expected to reach 34.9 million units by 2027, registering a CAGR of 21.6% from 2020 to 2027, according to a new report by Grand View Research, Inc. Increasing consumer awareness regarding advanced and secure home solutions, along with steady rise in the adoption of connected devices, is positively influencing the market. Additionally, substantial growth in the hospitality sector is driving the need for enhanced security, which is expected to impel demand for smart locks over the forecast period.

Growing number of residential and commercial projects, along with renovation of existing infrastructure, is expected to provide lucrative growth prospects for the industry. Smart locks can be integrated with several home automation devices, thereby providing security as well as convenience for users as they leave or arrive at home. With the growing prominence of smart locks across the residential sector, they are presumed to witness substantial demand, making mechanical locks a thing of the past.

Increased usage of smartphones globally has further paved opportunistic ways for industry participants, since they are continually launching apps to control locking/unlocking procedures. Regular innovations across the market for smart locks are increasingly driving investor interests with remarkable funding contracts from key players. The industry has witnessed a considerable transformation over the past few years, with an influx of new startups, causing prominent vendors to form in-house hardware connectivity, software, and app development teams. This shift has resulted in market consolidation to a certain level due to numerous acquisitions across the marketplace.

Further key findings from the report suggest:

• Companies across the marketplace are undergoing various strategic initiatives, such as partnerships, acquisitions, and R&D investments, to stay competent and enhance their security and control systems portfolio

• Companies such as Airbnb Inc.; Couchsurfing International, Inc.; and other stay aggregators require homeowners to provide temporary access to guests, which has resulted in increased adoption of smart locks owing to provision of convenience to both customers and owners

• The residential segment is expected to account for the largest revenue share of more than 65.0% by the end of 2027. Rising smart home penetration is resulting in a higher number of connected devices across the sector

• Smart lock market in Asia Pacific region is expected to grow at the fastest rate over the next few years owing to increasing number of modernization activities across the residential and hospitality sectors as well as construction of new infrastructure in emerging economies such as India.

 Table of Contents

Chapter 1 Methodology and Scope
                   1.1 Market Segmentation & Scope
                   1.2 Market Definitions
                   1.3 Information Procurement
                       1.3.1 Purchased database
                       1.3.2 GVR’s internal database
                       1.3.3 Secondary sources & third party perspective
                       1.3.4 Primary research
                   1.4 Information Analysis
                       1.4.1 Data analysis models
                   1.5 Market formulation and data visualization
                   1.6 Data validation and publishing
Chapter 2 Executive Summary
                   2.1 Market Outlook
                   2.2 Segmental Outlook
                   2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
                   3.1 Market Introduction
                   3.2 Industry Value Chain Analysis
                   3.3 Market Dynamics
                       3.3.1 Market driver analysis
                           3.3.1.1 Increasing smart home penetration
                           3.3.1.2 Proliferation of mobile technology
                           3.3.1.3 A wider application base in non-residential segments
                       3.3.2 Market restraint/challenge analysis
                           3.3.2.1 Technological challenges and incumbent failures
                           3.3.2.2 Security threats and system compromise
                   3.4 Penetration & Growth Prospect Mapping
                   3.5 Business Environmental Analysis Tools
                       3.5.1 Industry analysis - Porter’s
                       3.5.2 PEST analysis
                   3.6 Key Company Market Share Analysis, 2019
Chapter 4 Type Estimates and Trend Analysis
                   4.1 Market Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Thousand Units)
                   4.2 Smart Lock Type Movement Analysis & Market Share, 2019 & 2027 (USD Million)
                   4.3 Deadbolt
                       4.3.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       4.3.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   4.4 Lever Handles
                       4.4.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       4.4.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   4.5 Padlock
                       4.5.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       4.5.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   4.6 Others
                       4.6.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       4.6.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
Chapter 5 Application Estimates and Trend Analysis
                   5.1 Market Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Thousand Units)
                   5.2 Application Movement Analysis & Market Share, 2019 & 2027 (USD Million)
                   5.3 Residential
                       5.3.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       5.3.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   5.4 Hospitality
                       5.4.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       5.4.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   5.5 Enterprise
                       5.5.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       5.5.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   5.6 Critical Infrastructure
                       5.6.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       5.6.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
                   5.7 Others
                       5.7.1 Demand estimates and forecasts, 2016 - 2027 (Thousand Units)
                       5.7.2 Market size estimates and forecasts, 2016 - 2027 (USD Million)
Chapter 6 Regional Estimates and Trend Analysis
                   6.1 Regional Demand Estimates & Forecasts, 2016 - 2027 (Thousand Units)
                   6.2 Regional Movement Analysis & Market Share, 2019 & 2027 (USD Million)
                   6.3 North America
                       6.3.1 North America smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                       6.3.2 North America smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.3.3 U.S.
                           6.3.3.1 U.S. smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.3.3.2 U.S. smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.3.4 Canada
                           6.3.4.1 Canada smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.3.4.2 Canada smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                   6.4 Europe
                       6.4.1 Europe smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                       6.4.2 Europe smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.4.3 U.K.
                           6.4.3.1 U.K. smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.4.3.2 U.K. smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.4.4 Germany
                           6.4.4.1 Germany smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.4.4.2 Germany smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                   6.5 Asia Pacific
                       6.5.1 Asia Pacific smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                       6.5.2 Asia Pacific smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.5.3 China
                           6.5.3.1 China smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.5.3.2 China smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.5.4 Korea
                           6.5.4.1 Korea smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.5.4.2 Korea smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                       6.5.5 Japan
                           6.5.5.1 Japan smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                           6.5.5.2 Japan smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                   6.6 Latin America
                       6.6.1 Latin America smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                       6.6.2 Latin America smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
                   6.7 Middle East & Africa
                       6.7.1 Middle East & Africa smart lock market, by type, 2016 - 2027 (Thousand Units, USD Million)
                       6.7.2 Middle East & Africa smart lock market, by application, 2016 - 2027 (Thousand Units, USD Million)
Chapter 7 Competitive Landscape
                   7.1 Company Profiles
                       7.1.1 August Home
                           7.1.1.1 Company overview
                           7.1.1.2 Financial performance
                           7.1.1.3 Product benchmarking
                           7.1.1.4 Recent developments
                       7.1.2 Avent Security
                           7.1.2.1 Company overview
                           7.1.2.2 Product benchmarking
                       7.1.3 Cansec Systems Ltd.
                           7.1.3.1 Company overview
                           7.1.3.2 Product benchmarking
                           7.1.3.3 Recent developments
                       7.1.4 Haven Lock, Inc.
                           7.1.4.1 Company overview
                           7.1.4.2 Product benchmarking
                           7.1.4.3 Recent developments
                       7.1.5 Kwikset (Spectrum Brands Holdings, Inc.)
                           7.1.5.1 Company overview
                           7.1.5.2 Financial performance
                           7.1.5.3 Product benchmarking
                           7.1.5.4 Recent developments
                       7.1.6 Mul-T-Lock Technologies Ltd. (ASSA ABLOY)
                           7.1.6.1 Company overview
                           7.1.6.2 Financial performance
                           7.1.6.3 Product benchmarking
                           7.1.6.4 Recent developments
                       7.1.7 Schlage (Allegion plc)
                           7.1.7.1 Company overview
                           7.1.7.2 Financial performance
                           7.1.7.3 Product benchmarking
                           7.1.7.4 Recent developments
                       7.1.8 Samsung SDS
                           7.1.8.1 Company overview
                           7.1.8.2 Financial performance
                           7.1.8.3 Product benchmarking
                           7.1.8.4 Recent developments
                       7.1.9 SentriLock, LLC.
                           7.1.9.1 Company overview
                           7.1.9.2 Product benchmarking
                           7.1.9.3 Recent developments
                       7.1.10 Smart Locking Logic
                           7.1.10.1 Company overview
                           7.1.10.2 Product benchmarking
                       7.1.11 UniKey
                           7.1.11.1 Company overview
                           7.1.11.2 Product benchmarking
                           7.1.11.3 Recent Developments
                       7.1.12 Yale Locks (ASSA ABLOY)
                           7.1.12.1 Company overview
                           7.1.12.2 Financial performance
                           7.1.12.3 Product benchmarking
                           7.1.12.4 Recent developments
                       7.1.13 Goji
                           7.1.13.1 Company overview
                           7.1.13.2 Product benchmarking

List of Tables

TABLE 1 Smart lock demand size estimates & forecasts, 2016 - 2027 (Thousand Units)
TABLE 2 Smart lock market size estimates & forecasts, 2016 - 2027 (USD Million)
TABLE 3 Smart lock demand, by region, 2016 - 2027 (Thousand Units)
TABLE 4 Smart lock market, by region, 2016 - 2027 (USD Million)
TABLE 5 Smart lock demand, by type, 2016 - 2027 (Thousand Units)
TABLE 6 Smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 7 Smart lock demand, by application, 2016 - 2027 (Thousand Units)
TABLE 8 Smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 9 Key market driver impact
TABLE 10 Key market restraint/challenge impact
TABLE 11 Demand for smart deadbolt, by region, 2016 - 2027 (Thousand Units)
TABLE 12 Market for smart deadbolt, by region, 2016 - 2027 (USD Million)
TABLE 13 Demand for smart lever handles, by region, 2016 - 2027 (Thousand Units)
TABLE 14 Market for smart lever handles, by region, 2016 - 2027 (USD Million)
TABLE 15 Demand for smart padlock, by region, 2016 - 2027 (Thousand Units)
TABLE 16 Market for smart padlock, by region, 2016 - 2027 (USD Million)
TABLE 17 Demand for other smart locks, by region, 2016 - 2027 (Thousand Units)
TABLE 18 Market for other smart locks, by region, 2016 - 2027 (USD Million)
TABLE 19 Demand for smart lock in residential, by region, 2016 - 2027 (Thousand Units)
TABLE 20 Market for smart lock in residential, by region, 2016 - 2027 (USD Million)
TABLE 21 Demand for smart lock in hospitality, by region, 2016 - 2027 (Thousand Units)
TABLE 22 Market for smart lock in hospitality, by region, 2016 - 2027 (USD Million)
TABLE 23 Demand for smart lock in enterprise, by region, 2016 - 2027 (Thousand Units)
TABLE 24 Market for smart lock in enterprise, by region, 2016 - 2027 (USD Million)
TABLE 25 Demand for smart lock in critical infrastructure, by region, 2016 - 2027 (Thousand Units)
TABLE 26 Market for smart lock in critical infrastructure, by region, 2016 - 2027 (USD Million)
TABLE 27 Demand for smart lock in other applications, by region, 2016 - 2027 (Thousand Units)
TABLE 28 Market for smart lock in other applications, by region, 2016 - 2027 (USD Million)
TABLE 29 North America demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 30 North America smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 31 North America demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 32 North America smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 33 U.S. demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 34 U.S. smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 35 U.S. demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 36 U.S. smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 37 Canada demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 38 Canada smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 39 Canada demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 40 Canada smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 41 Europe demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 42 Europe smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 43 Europe demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 44 Europe smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 45 U.K. demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 46 U.K. smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 47 U.K. demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 48 U.K. smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 49 Germany demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 50 Germany smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 51 Germany demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 52 Germany smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 53 Asia Pacific demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 54 Asia Pacific smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 55 Asia Pacific demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 56 Asia Pacific smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 57 China demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 58 China smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 59 China demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 60 China smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 61 Korea demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 62 Korea smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 63 Korea smart lock market demand, by application, 2016 - 2027 (Thousand Units)
TABLE 64 Korea smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 65 Japan demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 66 Japan smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 67 Japan demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 68 Japan smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 69 Latin America demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 70 Latin America smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 71 Latin America demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 72 Latin America smart lock market, by application, 2016 - 2027 (USD Million)
TABLE 73 Middle East & Africa demand for smart lock, by type, 2016 - 2027 (Thousand Units)
TABLE 74 Middle East & Africa smart lock market, by type, 2016 - 2027 (USD Million)
TABLE 75 Middle East & Africa demand for smart lock, by application, 2016 - 2027 (Thousand Units)
TABLE 76 Middle East & Africa smart lock market, by application, 2016 - 2027 (USD Million)

List of Figures

FIG 1 Market segmentation & scope
FIG 2 Information procurement
FIG 3 Primary research pattern
FIG 4 Primary research process
FIG 5 Market formulation and data visualization
FIG 6 Industry snapshot
FIG 7 Value chain analysis
FIG 8 Market dynamics
FIG 9 Penetration & growth prospect mapping
FIG 10 Industry analysis - Porter’s
FIG 11 PEST Analysis
FIG 12 Key company ranking analysis, 2019
FIG 13 Market estimates & forecasts and trend analysis, 2016 - 2027 (Thousand Units)
FIG 14 Smart lock type movement analysis & market share, 2019 & 2027 (USD Million)
FIG 15 Market estimates & forecasts and trend analysis, 2016 - 2027 (Thousand Units)
FIG 16 Application movement analysis & market share, 2019 & 2027 (USD Million)
FIG 17 Regional market size estimates & forecasts, 2016 - 2027 (Thousand Units)
FIG 18 Regional movement analysis & market share, 2019 & 2027 (USD Million)
FIG 19 North America smart lock market, by country, 2019 & 2027
FIG 20 North America smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 21 U.S. smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 22 Canada smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 23 Europe smart lock market by country, 2019 & 2027
FIG 24 Europe smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 25 U.K. smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 26 Germany smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 27 Asia Pacific smart lock market, by country, 2019 & 2027
FIG 28 Asia Pacific smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 29 China smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 30 Korea smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 31 Japan smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 32 Latin America smart lock market, 2016 - 2027 (Thousand Units, USD Million)
FIG 33 Middle East & Africa smart lock market, 2016 - 2027 (Thousand Units, USD Million)