The global smart lock market is expected to grow at a compound annual growth rate of 19.5% from 2022 to 2030 to reach USD 8.13 billion by 2030. b. To boost security and assure hassle-free access to rental houses, Hoomvip, an app-based rental property access service, installed an ENTR smart door lock by TESA, one of Assa Abloy's trademarks, in October 2018. The Smart Lock Market was valued at USD 3.1 billion in 2020 and is expected to reach USD 7.98 billion by 2026 at a CAGR of approximately 15.4% during the forecast period (2021 - 2026). New product development and the introduction of advanced/uninterrupted technology are essential strategies that most industry players are expected to expand their customer base in the next few years. The global smart lock market reached a value of US$ 1.6 Billion in 2021. The smart lock market is estimated to be valued at USD 2.1 billion in 2022 and reach USD 3.9 billion by 2027, registering a CAGR of 12.9% between 2022 and 2027. Please check with your bank for further details. COVID-19 pandemic scenario has led a nosedive in the investments in the ICT industry, particularly in Internet of Things, 5G technologies, and other emerging technologies. Please wait while we are processing your request Smart Lock Market Size, Share & Trends Report, 2022-2030. Team License $ $ 5250. There is a growing need to identify and certify various properties such as individual houses, hotels, supermarkets, banks, financial institutions, corporate buildings, and commercial buildings. Our support available to help you 24 hours a day, five days a week. For instance, in CES 2020, Netatmo, a smart home devices manufacturer based out of France, announced the launch of Netatmo Smart Door Lock, a smart door lock, and the keys are compatible with Apples HomeKit standard. The smart lock market is segmented into Bluetooth, Wi-Fi, ZigBee, NFC, and others based on the communication protocol. The Global Smart Lock Market was valued at USD 1,863.8 Million in 2021, and is anticipated to reach USD 3,639.5 Million by 2028, exhibiting a CAGR of 0.118% during the forecast period 2022 to 2028. . Delivered in 24 - 72 hours of purchase . expertise, problem solving ability and inclination. The global smart lock market size is predicted to hit USD 8.13 billion by 2030 and is anticipated to register a CAGR of 19.5% from 2022 to 2030, based on a recent report by Grand View Research . Such instances instill a sense of insecurity among the casual users. The smart lock is powered by advanced software and the user-friendly Yale Access app. According to Oberlo, there were about 260 million smartphone users in the United States, as of 2019. They have witnessed reduction in hiring and capital budgets as well. From 2022 to 2030, Asia Pacific is predicted to grow at a CAGR of 26.5% in terms of volume. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the . Note: Airbnb's item classification is the same as "cooking utensils and seasonings", but according to regulations, only cooking utensils are available at this facility, and there are no seasonings . The global smart lock market size is projected to reach USD 6.74 billion by 2030 at a CAGR of 17.5% from 2022 to 2030. Due to the increased use of smart locks by businesses in the corporate, hospitality, and healthcare sectors, the commercial category is the one with the market's quickest growth. From 2023 to 2032, it is expected to grow at a CAGR of 19.4%. Reports Store Aerospace And Defense Agriculture Chemicals Construction Electrical And Electronics Financial Services Food And Beverages. The global smart door lock market is divided by keypad smart door locks into magnetic stripe locks, electromechanical door locks and electric strike locks. our privacy policy, By submitting, you confirm that you agree to our privacy Moreover, according to the data from the non-profit Gun Violence Archive (GVA), there were a total of 417 mass shootings in the United States by the end of 2019. Since their inception, smart locks have provided efficient and easy-to-use resources. Their complexity and high efficiency have led to their deployment in various locations to strengthen security. Increased security concerns are a significant factor in the rapid adoption of smart locks. Oct 20, 2022 (Reportmines via Comtex) -- Pre and Post Covid is covered and Report Customization is available. It is segmented by type, communication protocol, unlocking mechanism and application. One of the leading companies, Kwikset, added advanced deadbolts with built-in features such as single-touch locks, low battery warning, and customized user codes to their portfolios, which ultimately attracted a large number of users. Also, the increasing penetration of smartphones is augmenting the growth of connected devices, which enable users to remotely access their door locks and unlock the doors using various connected mobile apps. The Bluetooth segment is expected to showcase a gradual increase in the coming years owing to its cost-effectiveness. Show more. The company ships with three physical keys that use NFC to instantly and securely unlock the door. The Bluetooth segment is expected to showcase a gradual increase in the . Nanakramguda Rd, Financial District, Gachibowli. For instance, Drivy, a car rental company in Europe, allows the users to access the vehicles via smartphone application. A smart lock is an electromechanical locking device that enables users in various industries to remotely access and unlock the lock to enter the premises. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Smart lever handles are frequently used in commercial environments on interior doors. As per smart locks market forecast post COVID-19, the global smart locks market size was size was valued at $ 2,366.51 million in 2020, and is projected to reach $14,972.3 million by 2030, growing at a CAGR of 20.1% from 2021 to 2030. Looking forward, IMARC Group expects the market to reach US$ 4.9 Billion by 2027, exhibiting at a CAGR of 21.8% during 2022-2027. Between 2017 and 2022, the lock industry in the United States grew at a rate of 1.2 percent per year on average. For instance, in December 2019, cyber attackers were able to intercept communications to steal key and unlock doors that are locked by KeyWe Smart Locks, a remotecontrolled entry device. Global Smart Lock Market Size was estimated at USD 1128.06 million in 2021 and is projected to reach USD 5656.04 million by 2028, exhibiting a CAGR of 25.47% during the forecast period. Smart Lock Market Overview: Global smart lock sales were valued at USD 1,490 million in 2021. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. The Global Smart Lock Market is valued at USD 1,863.8 Million in 2021 and according to Vantage Market Research's recent analysis is projected to reach a value of USD 3,639.5 Million by 2028 at a . The smart lock industry is divided into sections based on the type of lock: padlocks, lever handles, and deadbolts. 2021 to 2028. Asia-Pacific is anticipated to emerge as a lucrative region for smart locks market due to rising smart city initiatives in various countries such as India and China. However, the market poses various growth opportunities to the smart lock providers due to the increasing need for home and building security. Self check-in with smart lock. Significant growth could be attributed to a dramatic increase in the number of residential and commercial projects and ongoing programs of smart cities in developing countries like India. Straits Research Sie knnen Ihre Einstellungen jederzeit ndern. This smart lock solution is designed with the patented PIN Genie software. The company accommodates three other portable keys that use NFC to open the door quickly and securely. *Bedside light with charging ports. 1 mile to NoMa metro station, 2 miles to Union Station and . Yale; Schlage; August Home; Kwikset; Goji; SDS Smart Locks; Mul-T-Lock; UniKey Technologies Inc. Free report customization (equivalent to up to 8 analyst working days) with purchase. Some prominent players in the global smart lock market include: Revenue in USD Billion, Shipment in Thousand Units, and CAGR from 2022 to 2030, Revenue forecast, company ranking, competitive landscape, growth factors, and trends, North America; Europe; Asia Pacific; Latin America; Middle East & Africa, U.S.; Canada; Germany; U.K.; China; Korea; Japan. It has continued to consolidate over a few years, with leading companies constantly pushing to hold the highest market share. The Report will be delivered in 24 - 72 hours. We are always looking to hire talented individuals with equal and extraordinary proportions of industry The company is also focused on expanding its partnership with Microban by introducing key locks and smart locks developed by the end of 2021. See for yourself. Request A Sample For The Global Smart Locks Market Report: in 2021 and the total Smart Lock revenue is expected to grow at 12.6 % through 2022 to 2029, reaching nearly US$ 4.83 Bn. The growth of the smart lock market is projected to be driven by factors such as increasing security and safety concerns, rising adoption of smartphones and other connected devices, and . Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. The implementation of IoT to improve the technology of non-contact locks gained momentum as leading companies introduced solutions that involved less human interaction. StraitsResearch is a market intelligence company providing global business information reports and services. [Newest 116 Pages Report] Rising awareness regarding technological advancements, rising adoption of smart home architecture are the key factors expected to drive Smart Lock Market during the forecast period. The global smart lock market was valued at USD 1.78 billion in 2021 and it is predicted to surpass around USD 8.54 billion by 2030 with a CAGR of 19.03% from 2022 to 2030. Due to benefits such as high-end security, user activity management, convenience, and smartphone connectivity, the padlock market is predicted to grow at a significant CAGR in the next years, resulting in broad adoption worldwide. Kuromon Market 1 min walk! We are GDPR and CCPA compliant! Asia Pacific is growing at the highest CAGR over 2021- 2026. Sometimes all of these technologies are included in the same device. To understand key trends, Download Sample April 6, 2022. . b. Hence, the market players are consistently innovating to provide innovative products in the market to gain maximum market traction in the forecast period. In the process, various hotels are planning to adopt Bluetooth enabled, or Wi-Fi enabled locks in place of RFID locks accessible by IC cards, for their hotels to improve the security of their premises. 3.2 Value Chain Analysis:Smart Lock Market, 5 Communication Protocol Overview, 7.2.2.2 By Communication Protocol, 7.2.3.2 By Communication Protocol, 7.2.4.2 By Communication Protocol, 7.3.2.2 By Communication Protocol, 7.3.3.2 By Communication Protocol, 7.3.4.2 By Communication Protocol, 7.3.5.2 By Communication Protocol, 7.3.6.2 By Communication Protocol, 7.3.7.2 By Communication Protocol, 7.4.2.1 By Communication Protocol, 7.4.3.2 By Communication Protocol, 7.4.4.2 By Communication Protocol, 7.4.5.2 By Communication Protocol, 7.4.6.2 By Communication Protocol, 7.4.7.2 By Communication Protocol, 7.5.2.2 By Communication Protocol, 7.5.3.2 By Communication Protocol, 7.5.4.2 By Communication Protocol, 7.5.5.2 By Communication Protocol, 7.6.2.2 By Communication Protocol, 7.6.3.2 By Communication Protocol, 7.6.4.2 By Communication Protocol, 7.6.5.2 By Communication Protocol. January 2020 -- August Inc. (ASSA ABLOY) announced the launch of the Wi-Fi Smart Lock, which sports a brand-new compact design and built-in Wi-Fi connection. The device comes in the size of a standard doorknob and is 45% smaller in volume and 20% slimmer than the August Smart Lock Pro. Free trial, before you make a purchase decision. The global market size, trends along with drivers and restraints are covered in the smart lock market report New product launches in the market could have a significant impact on both the occurrence and nature of competitive reactions. Which region dominated the global smart lock market? Various hotels have planned to use Wi-Fi or Bluetooth-enabled locks instead of RFID locks accessed by IC cards for hotels to improve the security of their premises. An increase in the number of residential and commercial projects is expected to propel the growth of the smart locks market going forward. 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