Global Smart Lock Market To Tower Swiftly And Cross USD 1.2 Billion by end of 2025

18-Jun-2020 | Zion Market Research

As per Zion Market Research, the global smart lock market is predicted to cross USD 1.2 Billion by 2025 from USD 478 million in 2018, with a CAGR of almost 16%. Increasing acceptance of connected devices and smartphones serves as a booster for the development of the market. In addition to this, increasing safety and security concerns and improved features compared with conventional lock systems also power the development of this market.

Major players of smart lock market include Allegion Plc, ASSA ABLOY AB, Spectrum Brands Holdings, Inc., Onity, Inc., Salto Systems S.L., Gantner Electronic GmbH, Cansec Systems Ltd., MIWA Lock Co. and Master Lock Company LLC among others.

Deadbolts Had The Biggest Share Of The Global Market By Lock Type

The global market for smart lock is divided based on communication protocol, lock type, geography, and vertical. Deadbolts had the biggest share of the global market by lock type. The elevated employment of deadbolts in the commercial and residential verticals, and advantages offered by deadbolts such as high durability, low installation cost, and effective safety in opposition to the intense attack or intrusion in the commercial, residential, and other applications add to a high development for this segment of the market.

The Global Market For Wi-Fi Is Predicted To Develop At The Max Speed In The Coming Years

The global market for Wi-Fi is predicted to develop at the max speed in the coming years. Wi-Fi can be used via different devices, such as personal computers, smartphones, and tablets. The development of the market for Wi-Fi can be credited to the reasons such as wireless connectivity and high speed provided to smart lock system. In addition to this, the rising acceptance of IoT, all over the world, is boosting the development of this market.

Residential Segment Will Have The Biggest Share Of The Global Market In The Coming Period

The residential segment will have the biggest share of the global market in the coming period. Smart locks are employed in the residential areas to avoid invasion, theft, unauthorized access, and burglary. The rising acceptance of Internet-supported home security solutions, increasing requirement for smart homes, and increasing urbanization contribute to the development for this vertical of the market.

Asia Pacific Smart Lock Market Is Predicted To Develop At The Max Speed In The Coming Period

The Asia Pacific smart lock market is predicted to develop at the max speed in the coming period. Asia Pacific is predicted to observe elevated acceptance of safety systems as the nations in this areas are the emerging countries with an increasing number of production bases and rising requirement for connected security machines. Moreover, a large number of R&D activities, huge population base, and rising urbanization in Asia Pacific power the acceptance of smart locks in this area.

Browse the full “Smart Lock Market: By Lock Type (Padlocks, Lever Handles, Deadbolt and Other Locks), By Technology (Bluetooth, Wi-Fi and Others), By Vertical (Commercial, Residential and Industrial) And By Region: - Global Industry Perspective, Comprehensive Analysis And Forecast, 2019 – 2025..” Report at https://www.zionmarketresearch.com/report/smart-lock-industry

The global smart lock market is segmented as follows:

By Lock Type

  • Deadbolts
  • Lever Handles
  • Padlocks
  • Other Locks (Knob locks, rim/mortise locks and rim cylinders, and rim latch locks)

By Communication Protocol

  • Bluetooth
  • Wi-Fi
  • Other Protocols (Zigbee, Z-Wave, Thread, and NFC, among others)

By Vertical:

  • Commercial
  • Residential
  • Institution & Government
  • Industrial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com

Office Address

Contact Us

Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #

US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed