Deadbolts Segment to Lead Smart Lock Market through 2028
The rising concern for security and safety and increasing living
standards are the leading factors driving the global smart lock market during
the forecast period.
According to
TechSci Research report, “Smart Lock Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028F,” the global smart lock market is
anticipated to project robust growth in the forecast period due to the rising
concern for security and safety, increasing penetration
of smartphone and internet, increasing standard of living and increasing usage
in government and commercial sector. Using smart connected technology is a
prominent trend anticipated to affect new product launches throughout the forecast
period.
Smart locks are
electromechanical devices that receive authorization instructions from an
encrypted digital or mobile key to lock and unlock doors. Smart locks allow
people to access their houses or allow others to enter without using a
traditional key. Customers instead use their smartphones or other gadgets to inspect
electronically and mechanically unlock the door. Smart locks are a type of home
automation used to improve home security. As networked devices, smart locks can
be viewed as an extension of the internet of things (IoT).
The other segment comprises face
recognition locks and wall-mounted locks etc. For instance, Xiaomi has
introduced the Smart Door Lock Pro, which is now available for pre-order in
China. The smart device is compatible with Apple HomeKit, allowing customers to
use it to unlock doors and manage the product with Siri voice commands. There
are seven ways to access the door, including using a password, fingerprint, or
NFC.
Browse over xx market data
Figures spread through xx Pages and an in-depth TOC on the "Global SmartLock Market."
The smart lock market is
segmented based on product type, end-user, and distribution channel, regional
analysis and competitive landscape. Based on product type, the market is
segmented into deadbolts, lever handles, padlocks, others (face recognition
locks, wall-mounted locks, etc. The market is further divided into residential,
commercial and industrial based on end-user. Based on distribution channel, the
market is fragmented into retailers, distributors/ dealers, home automation
system dealers, online and others (direct sales, etc.).
Among the product type, the
deadbolt segment dominates the global smart lock market. A deadbolt is a type
of lock in which the latch bolt is moved by turning a knob rather than using a
spring. These doors do not have springs and cannot be jimmied open with a knife
or other tool. Smart deadbolts provide greater control over the home because
they do not require a key to unlock the door and instead rely on connectivity
with the user's phone.
However, each category holds
a specific feature. For instance, the lever handle is operated by a latch.
Pushing the handle opens and closes the door, however it can also be locked
with a key or a passcode. These locks are generally Bluetooth-enabled,
recognizing the Bluetooth ID of the user's smartphone and opening the door when
the consumer arrives. The consumer can offer complete access to two devices.
Whereas Padlocks are locks that are not permanently affixed to a door or
anything else. Smart padlocks do not require a mechanical key and provide an
audit trail by recording the person, time, and location of each access. Padlocks
exist in a variety of shapes and sizes, and they provide a wide range of
security levels.
Key market players in the Global
Smart Lock Market include:
- Assa Abloy Inc.
(Yale)
- Schlage Lock Co
LLC
- August Home,
Inc.
- Spectrum Brands
Holdings, Inc. (Kwikset)
- UniKey
Technologies, Inc.
- dormakaba Group
- SALTO Systems,
S.L.
- Honeywell
International Inc.
- Vivint, Inc.
- Buildwall., Inc.
(DESSMANN)
Smart lock systems also
enable the user to program several user codes, making it easier to create and
delete unique codes for visitors. It also features a tamper alert and may be
opened by just accessing the lock from the smartphone. Wireless connectivity
has been extended beyond smartphones and tablets to a wide range of consumer
appliances and other electrical and electronic devices, allowing them to
acquire and transmit data.
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"Using smart connect
locks which are connected via Wi-Fi and Bluetooth is a significant trend
expected to impact market growth over the forecast period. Rising concern for
security and safety, increasing penetration of smartphone and internet,
increasing standard of living and increasing usage in government and commercial
sector are the leading factors that will positively impact the Global Smart
Lock Market. Due to the wide range of products available to meet the specific
needs of customers and the growing popularity of the internet channel, the
market is witnessing a significant surge,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Smart Lock Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F Segmented By Product Type (Deadbolts, Lever Handles, Padlocks,
Others (Face Recognition Locks, Wall-Mounted Locks etc.)), By End-User
(Residential, Commercial, Industrial), By Distribution Channel (Retailers,
Distributors/ Dealers, Home Automation System Dealers, Online and Others
(Direct Sales etc.)), By Region,” has
evaluated the future growth potential of smart lock products and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision-makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the Global Smart
Lock Market.
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