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Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023

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Date: 17-Oct-2017
No. of pages: 122
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“The overall smart lock market is expected to grow at a CAGR of 13.11% between 2017 and 2023”

The smart lock market is expected toreachUSD2.67 billion by 2023 from USD 1.28 billion in 2017, at a CAGR of 13.11% between 2017 and 2023.The growing security and safety concerns is one of the major factors fueling the growth of this market. Moreover, the enhanced features compared with traditional lock systems and rising adoption of smart phones and other connected devices are expected to generate demand for these systems. The key restraining factors for the growth of this market are the high cost and perception of unreliability and lack of awareness among customers.

“Deadbolts is expected to hold the largest share of the smart lock market during the forecast period”

The deadbolts segment is expected to hold the largest share of the smart lock market based on lock type during the forecast period. The benefits associated with deadbolts such as low installation cost, high durability, and high security from the intense intrusion or attack in the residential, commercial, and others applications contribute to high growth of the market for this segment.

“The smart lock market for Wi-Fi is expected to grow at the highest CAGR during the forecast period”

The market for the Wi-Fi communication protocol is expected to grow at the highest CAGR between 2017 and 2023.The connectivity benefits provided by Wi-Fi that make smart locks compatible with various connected devices, such as smart phones, personal computers, and tablets, contribute to the growth of the market for Wi-Fi.

“The residential vertical is expected to hold the largest share of the smart lock market during the forecast period”

The residential vertical is expected to hold the largest share of the smart lock market during the forecast period. In the residential segment, the smart locks are used in both condominiums and individual houses. Checking access to the unauthorized person in residents or any other property is considered as the critical component of security to protect assets. The growth of the market for the residential vertical could be attributed to the increasing demand for smart homes, increasing urbanization, and security solutions.

“The smart lock market in APAC to grow at the highest CAGR between 2017 and 2023”

The market in APAC is expected to grow at the highest CAGR during 2017–2023.The market is expected to grow at a high rate and driven, primarily, by continuously growing infrastructure and increasing demand for the automated security products. The major factors driving the growth of the smart lock market in APAC is the huge population base, research and development (R&D) activities, and increasing urbanization in APAC.

During the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the market. The break-up of primary participants for the report has been shown below:


  • By Company Type: Tier 1 =37 %, Tier 2 =47%, and Tier 3 =16%

  • By Designation: C-Level Executives =46%, Directors =36%, and Managers=18%

  • By Region: North America =26%, Europe =30%, APAC =22%, South America= 13%, and Middle East & Africa=9%


The report also profiles the key players in the smart lock market and analyzes their market rankings. The prominent players profiled in this report are ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US), among others.

Research Coverage:

This research report categorizes the overall smart lock market on the basis of lock type, communication protocol, vertical, and geography. Moreover, the report provides the value chain analysis of the smart lock industry. Furthermore, the report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market and the market ranking analysis.

Key Benefits of Buying the Report:

The report would help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall smart lock market and the market based on the considered segments. This report would help the stakeholders to understand the competitive landscape better, gain more insights to position their businesses better in the market, and make suitable go-to-market strategies. The report also helps the stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.

Smart Lock Market by Lock Type (Deadbolts, Lever Handles, Padlocks), Communication Protocol (Bluetooth, Wi-Fi), Vertical (Residential, Commercial, Institution and Government, Industrial) and Geography - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of Study
1.2 Definition
1.3 Scope of Study
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Key Data From Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach
2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
2.3 Market Ranking Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Smart Lock Market
4.2 Smart Lock Market, By Lock Type
4.3 Smart Lock Market, By Communication Protocol
4.4 Smart Lock Market, By Vertical
4.5 Country-Wise Analysis of Smart Lock Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Security and Safety Concerns
5.2.1.2 Enhanced Features Compared With Traditional Lock Systems
5.2.1.3 Rising Adoption of Smartphones and Other Connecting Devices
5.2.2 Restraints
5.2.2.1 High Cost and Perception of Unreliability
5.2.2.2 Lack of Awareness Among Customers
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Iot-Based Security Systems
5.2.3.2 Increasing Urban Infrastructure in Emerging Nations
5.2.4 Challenges
5.2.4.1 Risk of Cyberattacks Through Smart Devices Or IoT-Enabled Devices
5.3 Value Chain Analysis

6 Smart Lock Market Analysis, By Lock Type
6.1 Introduction
6.2 Deadbolt
6.3 Lever Handles
6.4 Padlocks
6.5 Other Locks

7 Smart Lock Market, By Communication Protocol
7.1 Introduction
7.2 Wi-Fi
7.3 Bluetooth
7.4 Others
7.4.1 Z-Wave
7.4.2 ZigBee
7.4.3 Thread
7.4.4 NFC

8 Smart Lock Market, By Vertical
8.1 Introduction
8.2 Commercial
8.2.1 Hospitality
8.2.2 Retail Stores and Malls
8.2.3 Healthcare
8.2.4 Corporate
8.3 Residential
8.3.1 Condominium
8.3.2 Individual Houses
8.4 Institution & Government
8.5 Industrial
8.5.1 Transportation & Logistics
8.5.2 Manufacturing
8.5.3 Oil & Gas
8.5.4 Energy & Power

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 UK
9.3.2 France
9.3.3 Germany
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 South Korea
9.4.3 Japan
9.4.4 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East & Africa
9.5.2 South America

10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis: Smart Lock Market
10.3 Competitive Leadership Mapping: Smart Lock Market
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Companies
10.4 Competitive Benchmarking
10.4.1 Business Strategy Excellence (25 Companies)
10.4.2 Strength of Product Portfolio (25 Companies)
10.5 Competitive Scenario
10.5.1 Product Launches
10.5.2 Acquisitions
10.5.3 Partnerships, Expansion, Agreement, and  Contract

11 Company Profile
11.1 Introduction
11.2 ASSA ABLOY AB
11.2.1 Business Overview
11.2.2 Strength of Product Portfolio
11.2.3 Business Strategy Excellence
11.2.4 Recent Developments
11.2.5 Key Relationship
11.3 Allegion Plc
11.3.1 Business Overview
11.3.2 Strength of Product Portfolio
11.3.3 Business Strategy Excellence
11.3.4 Recent Developments
11.3.5 Key Relationship
11.4 Dorma+Kaba Holding AG
11.4.1 Business Overview
11.4.2 Strength of Product Portfolio
11.4.3 Business Strategy Excellence
11.4.4 Recent Developments
11.4.5 Key Relationship
11.5 Spectrum Brands Holdings, Inc.
11.5.1 Business Overview
11.5.2 Strength of Product Portfolio
11.5.3 Business Strategy Excellence
11.5.4 Recent Developments
11.5.5 Key Relationship
11.6 Salto Systems S.L.
11.6.1 Business Overview
11.6.2 Strength of Product Portfolio
11.6.3 Business Strategy Excellence
11.6.4 Recent Developments
11.6.5 Key Relationship
11.7 Onity, Inc.
11.7.1 Business Overview
11.7.2 Strength of Product Portfolio
11.7.3 Business Strategy Excellence
11.7.4 Recent Developments
11.7.5 Key Relationship
11.8 Cansec Systems Ltd.
11.8.1 Business Overview
11.8.2 Strength of Product Portfolio
11.8.3 Business Strategy Excellence
11.8.4 Key Relationship
11.9 Gantner Electronic GmbH
11.9.1 Business Overview
11.9.2 Strength of Product Portfolio
11.9.3 Business Strategy Excellence
11.9.4 Recent Developments
11.9.5 Key Relationship
11.10 Master Lock Company LLC
11.10.1 Business Overview
11.10.2 Strength of Product Portfolio
11.10.3 Business Strategy Excellence
11.10.4 Recent Developments
11.10.5 Key Relationship
11.11 MIWA Lock Co.
11.11.1 Business Overview
11.11.2 Strength of Product Portfolio
11.11.3 Business Strategy Excellence
11.11.4 Key Relationship
11.12 Samsung Electronics Co., Ltd.
11.13 Amadas Inc.
11.14 Sentrilock, LLC
11.15 Avent Security
11.16 Dessmann
11.17 Haven Lock, Inc.
11.18 GATE
11.19 Shenzhen Vians Electric Lock Co.,Ltd.
11.20 Anviz Global
11.21 Poly-Control International ApS
11.22 Key Innovators
11.22.1 August Home
11.22.1.1 Business Overview
11.22.2 Candy House, Inc.
11.22.2.1 Business Overview
11.22.3 Dahua Technology Co., Ltd
11.22.3.1 Business Overview
11.22.4 Amadas Inc.
11.22.4.1 Business Overview
11.22.5 Lockstate
11.22.5.1 Business Overview

12 Appendix
12.1 Discussion Guide
12.2 Introducing RT: Real-Time Market Intelligence
12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.4 Available Customizations
12.5 Related Reports

List of Tables

Table 1 Smart Lock Market, By Lock Type, 2015–2023 (USD Million)
Table 2 Smart Lock Market, By Lock Type, 2015–2023 (Million Units)
Table 3 Smart Lock Market for Deadbolts, By Vertical, 2015–2023 (USD Million)
Table 4 Smart Lock Market for Lever Handles, By Vertical, 2015–2023 (USD Million)
Table 5 Smart Lock Market for Padlocks, By Vertical, 2015–2023 (USD Million)
Table 6 Smart Lock Market for Other Locks, By Vertical, 2015–2023 (USD Million)
Table 7 Smart Lock Market, By Communication Protocol, 2015–2023 (USD Million)
Table 8 Smart Lock Market, By Vertical, 2015–2023 (USD Million)
Table 9 Smart Lock Market for Commercial, By Application, 2015–2023 (USD Million)
Table 10 Smart Lock Market for Commercial, By Lock Type, 2015–2023 (USD Million)
Table 11 Smart Lock Market for Commercial, By Region, 2015–2023 (USD Million)
Table 12 Smart Lock Market for Commercial in North America, By Country, 2015–2023 (USD Million)
Table 13 Smart Lock Market for Commercial in Europe, By Country, 2015–2023 (USD Million)
Table 14 Smart Lock Market for Commercial in APAC, By Country, 2015–2023 (USD Million)
Table 15 Smart Lock Market for Commercial in RoW, By Region, 2015–2023 (USD Million)
Table 16 Smart Lock Market for Residential, By Application, 2015–2023 (USD Million)
Table 17 Smart Lock Market for Residential, By Lock Type, 2015–2023 (USD Million)
Table 18 Smart Lock Market for Residential, By Region, 2015–2023 (USD Million)
Table 19 Smart Lock Market for Residential in North America, By Country, 2015–2023 (USD Million)
Table 20 Smart Lock Market for Residential in Europe, By Country, 2015–2023 (USD Million)
Table 21 Smart Lock Market for Residential in APAC, By Country, 2015–2023 (USD Million)
Table 22 Smart Lock Market for Residential in RoW, By Region, 2015–2023 (USD Million)
Table 23 Smart Lock Market for Institution and Government, By Lock Type, 2015–2023 (USD Million)
Table 24 Smart Lock Market for Institution and Government, By Region, 2015–2023 (USD Million)
Table 25 Smart Lock Market for Institution and Government in North America, By Country, 2015–2023 (USD Million)
Table 26 Smart Lock Market for Institution and Government in Europe, By Country, 2015–2023 (USD Million)
Table 27 Smart Lock Market for Institution and Government in APAC, By Country, 2015–2023 (USD Million)
Table 28 Smart Lock Market for Institution and Government in RoW, By Region, 2015–2023 (USD Million)
Table 29 Smart Lock Market for Industrial, By Application, 2015–2023 (USD Million)
Table 30 Smart Lock Market for Industrial, By Lock Type, 2015–2023 (USD Million)
Table 31 Smart Lock Market for Industrial, By Region, 2015–2023 (USD Million)
Table 32 Smart Lock Market for Industrial in North America, By Country, 2015–2023 (USD Million)
Table 33 Smart Lock Market for Industrial in Europe, By Country, 2015–2023 (USD Million)
Table 34 Smart Lock Market for Industrial in APAC, Bu Country, 2015–2023 (USD Million)
Table 35 Smart Lock Market for Industrial in RoW, By Region, 2015–2023 (USD Million)
Table 36 Smart Lock Market, By Region, 2015–2023 (USD Million)
Table 37 Smart Lock Market in North America, By Country, 2015–2023 (USD Million)
Table 38 Smart Lock Market in North America, By Vertical, 2015–2023 (USD Million)
Table 39 Smart Lock Market in North America for Commercial, By Application, 2015–2023 (USD Million)
Table 40 Smart Lock Market in US, By Vertical, 2015–2023 (USD Million)
Table 41 Smart Lock Market in Canada, By Vertical, 2015–2023 (USD Million)
Table 42 Smart Lock Market in Mexico, By Vertical, 2015–2023 (USD Million)
Table 43 Smart Lock Market in Europe, By Country, 2015–2023 (USD Million)
Table 44 Smart Lock Market in Europe, By Vertical, 2015–2023 (USD Million)
Table 45 Smart Lock Market in Europe for Commercial, By Application, 2015–2023 (USD Million)
Table 46 Smart Lock Market in UK, By Vertical, 2015–2023 (USD Million)
Table 47 Smart Lock Market in France, By Vertical, 2015–2023 (USD Million)
Table 48 Smart Lock Market in Germany, By Vertical, 2015–2023 (USD Million)
Table 49 Smart Lock Market in Rest of Europe, By Vertical, 2015–2023 (USD Million)
Table 50 Smart Lock Market in APAC, By Country, 2015–2023 (USD Million)
Table 51 Smart Lock Market in APAC, By Vertical, 2015–2023 (USD Million)
Table 52 Smart Lock Market in APAC for Commercial, By Application, 2015–2023 (USD Million)
Table 53 Smart Lock Market in China, By Vertical, 2015–2023 (USD Million)
Table 54 Smart Lock Market in South Korea, By Vertical, 2015–2023 (USD Million)
Table 55 Smart Lock Market in Japan, By Vertical, 2015–2023 (USD Million)
Table 56 Smart Lock Market in Rest of APAC, By Vertical, 2015–2023 (USD Million)
Table 57 Smart Lock Market in RoW, By Region, 2015–2023 (USD Million)
Table 58 Smart Lock Market in RoW, By Vertical, 2015–2023 (USD Million)
Table 59 Smart Lock Market in RoW for Commercial, By Application, 2015–2023 (USD Million)
Table 60 Smart Lock Market in Middle East and Africa, By Vertical, 2015–2023 (USD Million)
Table 61 Smart Lock Market in South America, By Vertical, 2015–2023 (USD Million)
Table 62 Market Ranking: Top 5 Players in Smart Lock Market (2016)

List of Figures

Figure 1 Smart Lock Market: Research Design
Figure 2 Process Flow
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 Smart Lock Market for Deadbolts to Grow at Highest CAGR Between 2017 and 2023
Figure 8 Bluetooth to Hold Largest Share of Smart Lock Market for Communication Protocol Between 2017 and 2023
Figure 9 Smart Lock Market for Residential to Grow at Highest CAGR Between 2017 and 2023
Figure 10 Smart Lock Market in APAC to Grow at Highest CAGR Between 2017 and 2023
Figure 11 Growing Internet-Based Security Solutions Driving Smart Lock Market
Figure 12 Deadbolts to Dominate Smart Lock Market During Forecast Period
Figure 13 US to Hold Largest Share of Smart Lock Market in North America By 2017
Figure 14 Smart Lock Market for Residential to Grow at Highest CAGR During Forecast Period
Figure 15 US to Account for Largest Share of Smart Lock Market in North America By 2017
Figure 16 Enhanced Features Compared With Traditional Lock Systems, Drives Smart Lock Market
Figure 17 Value Chain Analysis: Major Value Added By Raw Material Suppliers and Original Equipment Manufacturers
Figure 18 Smart Lock Market for Deadbolts to Grow at Highest CAGR Between 2017 and 2023
Figure 19 Smart Lock Market for Wi-Fi to Grow at Highest CAGR Between 2017 and 2023
Figure 20 Smart Lock Market, By Vertical
Figure 21 Smart Lock Market for Residential to Grow at Highest CAGR Between 2017 and 2023
Figure 22 Smart Lock Market: Geographic Snapshot
Figure 23 Overview of Smart Lock Market in North America
Figure 24 Overview of Smart Lock Market in Europe
Figure 25 Overview of Smart Lock Market in APAC
Figure 26 Overview of Smart Lock System Market in RoW
Figure 27 Key Growth Strategies Adopted By Top Companies in Smart Lock Market Between January 2015 and July 2017
Figure 28 Competitive Leadership Mapping, 2016
Figure 29 Product Launch as Key Strategy Between January 2015 and July 2017
Figure 30 ASSA ABLOY AB: Company Snapshot
Figure 31 Allegion Plc: Company Snapshot
Figure 32 Dorma+ Kaba Holding AG : Company Snapshot
Figure 33 Spectrum Brands Holdings, Inc. :Company Snapshot
Figure 34 Salto Systems S.L.: Company Snapshot
Figure 35 Onity, Inc.: Company Snapshot
Figure 36 Cansec Systems Ltd.: Company Snapshot
Figure 37 Gantner Electronic GmbH: Company Snapshot
Figure 38 Master Lock Company LLC: Company Snapshot
Figure 39 MIWA Lock Co.: Company Snapshot

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