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Smart Locks Market Overview:
According to findings by the FBI (Federal Bureau of Investigation), the number of burglaries in the U.S. exceeded 1.4 million in 2017. After further analysis, it was calculated that 36.2% of such cases encountered unlawful entries into properties. Rising instances of security breaches in commercial and residential infrastructures has boosted the adoption of innovative and efficient security appliances. Due to rise in demand of remote and connected access to control and monitor security aspects of vacant properties, global smart lock market size is gaining traction and is evaluated to be $1.59 billion in 2018. As the concept of smart home solutions, and smart cities gaining rampant growth, opportunities in the smart lock market are progressing in a similar direction. Moreover, with integration of technological innovation such as IoT, smartphones and cloud-based locking and unlocking management solutions, smart locks market is progressing at a global CAGR of 11.45% during the forecast period 2019-2025. These innovations have lead the market towards more opportunities in trems of application. For example, smart locks integrated with smartphones are being employed in the automotive sector and services to diminish the usage of physical keys and enhance the aspect of security.
Smart Locks Market Outlook:
North America is reckoned to be the most lucrative marketplace in terms of global smart lock market demand. This region with one of the most technologically-advanced economy of the U.S. with substantial demand for smart home solutions held a market share of 37.23% of the global market in 2018.
The dominance of North America is supported by several facts-
· The smart home appliances market size valued $32.86 billion in 2018, North America was the leading region in terms of demand, with a substantial share of 31.57% for the same year.
· Similarly, home security systems and solutions market size valued at $50 billion in 2018. The market also led by North America, with an estimated 40% share in global demand.
In terms of end-user verticals, the market is sub-segmented into commercial and residential sector. Further analysis evaluates that residential sector is the fastest growing segment progressing with an application CAGR of 14.74% going through 2025. The commercial sector comprising of government infrastructures, banking and finance enterprises, and public spaces are mature and registered high revenue, but residential sector progressing towards smart and automated homes is witnessing substantial influx of demand. Moreover, increasing instances of burglaries in residential properties is also adding impetus to this segment. FBI stated that in 2017, burglaries in residential properties accounted 67.2% of overall burglaries.
Smart Locks Market Growth Drivers and Trends:
· Integration of IoT and smartphones, with smart lock is a major trend disrupting the market growth and alleviating it from the limited range of connectivity it delivered via connection from Bluetooth and Wi-Fi. Connected over Internet, smart locks can be operated and accessed remotely via cryptographic key or from an installed application. This will benefit consumers with real-time surveillance. Similarly, market players are actively investing in R&D to develop the existing technology in terms of customized convenience and ease-of-use with the introduction of voice recognition and finger print technology. For instance, Danalock, a smart lock manufacturer has launched ‘Danalock V3’ that can be operated by Apple iphone’s Siri voice commands.
Increasing car rental market is boosting the adoption of smart lock in automotive, integrated with smartphones to reduce unauthorized access by a physical key. For example, Drivy, a self-service car provider offer services such as locating a near-by available car by its smartphone application and unlocking it with the same after verification. Similarly, automotive sector particularly in its premium and electric vehicle segment is using the smart security technology.
Smart Locks Market Players Perspective:
The smart lock market is untapped and growing robustly, with key players opting for mergers and acquisitions to establish themselves as an effective brand and hold substantial share in the global market. Some of the key players operating in the market are Allegion Plc, Dorma+Kaba Holding AG, Spectrum Brands Holdings, Inc., Salto Systems S.L, Cansec Systems Ltd., Gantner Electronic GmbH , MIWA Lock Co, Master Lock Company LLC, and Spectrum Brands, Inc.
In 2018, Fortune Brands Home & Security announced a merger of its subsidiaries Master Lock and Therma-Tru. This merger between Master Lock, which develops padlocks, combination locks, and security products, and Therma-Tru, which specializes in entry and patio doors will enable both enterprises to leverage their R&D towards pursuing next generation connected locking and security applications.
Smart Locks Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the smart locks market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of developments in global smart locks market, and their specific advantages to the market.
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1.1 Definitions and Scope
2. Smart Locks Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Smart Locks Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Smart Locks Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Smart Locks Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Smart Locks Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Smart Locks Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
8. Smart Locks Market - By Product Type (Market Size -$Million / $Billion)
8.1 Market Size and Market Share Analysis
8.2 Application Revenue and Trend Research
8.3 Product Segment Analysis
8.3.1 Deadbolt
8.3.2 Lever Handle
8.3.3 Padlock
9. Smart Locks Market - By Technology (Market Size -$Million / $Billion)
9.1 Wi-Fi
10. Smart Locks - By End User (Market Size -$Million / $Billion)
10.1 Residential
10.2 Commercial
11. Smart Locks- By Geography (Market Size -$Million / $Billion)
11.1 Smart Locks Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Smart Locks- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Smart Locks- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Smart Locks - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Smart Locks - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Smart Locks Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Smart Locks Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Smart Locks Market - Key Company List by Country Premium
15. Smart Locks Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Assa Abloy Ab
15.3 Haven Lock, Inc
15.4 Honeywell International Inc
15.5 Panasonic Corporation
15.6 Samsung Sd Co Ltd
15.7 Schlage
15.8 Spectrum Brands, Inc
15.9 Unikey Technology Inc
15.10 Vivint, Inc
15.11 Company 11
15.12 Company 12 & More
16.1 Abbreviations
16.2 Sources
17. Smart Locks Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends
LIST OF TABLES
1.Global Smart Lock Market, By Product Type Market 2019-2024 ($M)1.1 Deadbolt Market 2019-2024 ($M) - Global Industry Research
1.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
1.2 Lever Handle Market 2019-2024 ($M) - Global Industry Research
1.3 Padlock Market 2019-2024 ($M) - Global Industry Research
2.Global Smart Lock Market, By Technology Market 2019-2024 ($M)
2.1 Wi-Fi Market 2019-2024 ($M) - Global Industry Research
2.2 Bluetooth Market 2019-2024 ($M) - Global Industry Research
3.Global Smart Lock Market, By End User Market 2019-2024 ($M)
3.1 Residential Market 2019-2024 ($M) - Global Industry Research
3.2 Commercial Market 2019-2024 ($M) - Global Industry Research
4.Global Smart Lock Market, By Product Type Market 2019-2024 (Volume/Units)
4.1 Deadbolt Market 2019-2024 (Volume/Units) - Global Industry Research
4.1.1 Key Growth Factor And Opportunity Market 2019-2024 (Volume/Units)
4.2 Lever Handle Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Padlock Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global Smart Lock Market, By Technology Market 2019-2024 (Volume/Units)
5.1 Wi-Fi Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Bluetooth Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Smart Lock Market, By End User Market 2019-2024 (Volume/Units)
6.1 Residential Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Commercial Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Smart Lock Market, By Product Type Market 2019-2024 ($M)
7.1 Deadbolt Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
7.2 Lever Handle Market 2019-2024 ($M) - Regional Industry Research
7.3 Padlock Market 2019-2024 ($M) - Regional Industry Research
8.North America Smart Lock Market, By Technology Market 2019-2024 ($M)
8.1 Wi-Fi Market 2019-2024 ($M) - Regional Industry Research
8.2 Bluetooth Market 2019-2024 ($M) - Regional Industry Research
9.North America Smart Lock Market, By End User Market 2019-2024 ($M)
9.1 Residential Market 2019-2024 ($M) - Regional Industry Research
9.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
10.South America Smart Lock Market, By Product Type Market 2019-2024 ($M)
10.1 Deadbolt Market 2019-2024 ($M) - Regional Industry Research
10.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
10.2 Lever Handle Market 2019-2024 ($M) - Regional Industry Research
10.3 Padlock Market 2019-2024 ($M) - Regional Industry Research
11.South America Smart Lock Market, By Technology Market 2019-2024 ($M)
11.1 Wi-Fi Market 2019-2024 ($M) - Regional Industry Research
11.2 Bluetooth Market 2019-2024 ($M) - Regional Industry Research
12.South America Smart Lock Market, By End User Market 2019-2024 ($M)
12.1 Residential Market 2019-2024 ($M) - Regional Industry Research
12.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
13.Europe Smart Lock Market, By Product Type Market 2019-2024 ($M)
13.1 Deadbolt Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
13.2 Lever Handle Market 2019-2024 ($M) - Regional Industry Research
13.3 Padlock Market 2019-2024 ($M) - Regional Industry Research
14.Europe Smart Lock Market, By Technology Market 2019-2024 ($M)
14.1 Wi-Fi Market 2019-2024 ($M) - Regional Industry Research
14.2 Bluetooth Market 2019-2024 ($M) - Regional Industry Research
15.Europe Smart Lock Market, By End User Market 2019-2024 ($M)
15.1 Residential Market 2019-2024 ($M) - Regional Industry Research
15.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
16.APAC Smart Lock Market, By Product Type Market 2019-2024 ($M)
16.1 Deadbolt Market 2019-2024 ($M) - Regional Industry Research
16.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
16.2 Lever Handle Market 2019-2024 ($M) - Regional Industry Research
16.3 Padlock Market 2019-2024 ($M) - Regional Industry Research
17.APAC Smart Lock Market, By Technology Market 2019-2024 ($M)
17.1 Wi-Fi Market 2019-2024 ($M) - Regional Industry Research
17.2 Bluetooth Market 2019-2024 ($M) - Regional Industry Research
18.APAC Smart Lock Market, By End User Market 2019-2024 ($M)
18.1 Residential Market 2019-2024 ($M) - Regional Industry Research
18.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
19.MENA Smart Lock Market, By Product Type Market 2019-2024 ($M)
19.1 Deadbolt Market 2019-2024 ($M) - Regional Industry Research
19.1.1 Key Growth Factor And Opportunity Market 2019-2024 ($M)
19.2 Lever Handle Market 2019-2024 ($M) - Regional Industry Research
19.3 Padlock Market 2019-2024 ($M) - Regional Industry Research
20.MENA Smart Lock Market, By Technology Market 2019-2024 ($M)
20.1 Wi-Fi Market 2019-2024 ($M) - Regional Industry Research
20.2 Bluetooth Market 2019-2024 ($M) - Regional Industry Research
21.MENA Smart Lock Market, By End User Market 2019-2024 ($M)
21.1 Residential Market 2019-2024 ($M) - Regional Industry Research
21.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Smart Locks Market Revenue, 2019-2024 ($M)2.Canada Smart Locks Market Revenue, 2019-2024 ($M)
3.Mexico Smart Locks Market Revenue, 2019-2024 ($M)
4.Brazil Smart Locks Market Revenue, 2019-2024 ($M)
5.Argentina Smart Locks Market Revenue, 2019-2024 ($M)
6.Peru Smart Locks Market Revenue, 2019-2024 ($M)
7.Colombia Smart Locks Market Revenue, 2019-2024 ($M)
8.Chile Smart Locks Market Revenue, 2019-2024 ($M)
9.Rest of South America Smart Locks Market Revenue, 2019-2024 ($M)
10.UK Smart Locks Market Revenue, 2019-2024 ($M)
11.Germany Smart Locks Market Revenue, 2019-2024 ($M)
12.France Smart Locks Market Revenue, 2019-2024 ($M)
13.Italy Smart Locks Market Revenue, 2019-2024 ($M)
14.Spain Smart Locks Market Revenue, 2019-2024 ($M)
15.Rest of Europe Smart Locks Market Revenue, 2019-2024 ($M)
16.China Smart Locks Market Revenue, 2019-2024 ($M)
17.India Smart Locks Market Revenue, 2019-2024 ($M)
18.Japan Smart Locks Market Revenue, 2019-2024 ($M)
19.South Korea Smart Locks Market Revenue, 2019-2024 ($M)
20.South Africa Smart Locks Market Revenue, 2019-2024 ($M)
21.North America Smart Locks By Application
22.South America Smart Locks By Application
23.Europe Smart Locks By Application
24.APAC Smart Locks By Application
25.MENA Smart Locks By Application
26.Assa Abloy Ab, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Haven Lock, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Honeywell International Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Panasonic Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Samsung Sd Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Schlage, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Spectrum Brands, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Unikey Technology Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Vivint, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)