$2.67 Billion Smart Lock Market 2017 - Global Forecast to 2023

DUBLIN, November 1, 2017 /PRNewswire/ --

The "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" report has been added to Research and Markets' offering.

The smart lock market is expected to reach USD 2.67 Billion by 2023 from USD 1.28 Billion in 2017, at a CAGR of 13.11% between 2017 and 2023

Rising adoption of smartphones and other connected devices acts as a driver for the growth of the smart lock market. Moreover, growing security and safety concerns and enhanced features compared with traditional lock systems also drive the growth of this market.

This report segments the smart lock market on the basis of lock type, communication protocol, vertical, and geography. Deadbolts held the largest share of the smart lock market based on lock type in 2016. The increased use of deadbolts in the residential and commercial verticals, and benefits provided by deadbolts such as low installation cost, high durability, and effective security against the intense intrusion or attack in the residential, commercial, and other applications contribute to a high growth of the market for this segment.

The key players in the smart lock include ASSA ABLOY (Sweden), Allegion (Ireland), dorma+kaba (Switzerland), Spectrum Brands (US), Salto Systems (Spain), Onity (US), Cansec Systems (Canada), and Master Lock (US).

Market Dynamics

Drivers

• Growing Security and Safety Concerns
• Enhanced Features Compared With Traditional Lock Systems
• Rising Adoption of Smartphones and Other Connecting Devices

Restraints

• High Cost and Perception of Unreliability
• Lack of Awareness Among Customers

Opportunities

• Increasing Adoption of Iot-Based Security Systems
• Increasing Urban Infrastructure in Emerging Nations

Challenges

• Risk of Cyberattacks Through Smart Devices Or IoT-Enabled Devices

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Smart Lock Market Analysis, By Lock Type

7 Smart Lock Market, By Communication Protocol

8 Smart Lock Market, By Vertical

9 Geographic Analysis

10 Competitive Landscape

11 Company Profiles

• ASSA ABLOY AB
• Allegion Plc
• Amadas Inc.
• Amadas Inc.
• Anviz Global
• August Home
• Avent Security
• Candy House, Inc.
• Cansec Systems Ltd.
• Dahua Technology Co., Ltd
• Dessmann
• Dorma+Kaba Holding AG
• GATE
• Gantner Electronic GmbH
• Haven Lock, Inc.
• Lockstate
• MIWA Lock Co.
• Master Lock Company LLC
• Onity, Inc.
• Poly-Control International ApS
• Salto Systems S.L.
• Samsung Electronics Co., Ltd.
• Sentrilock, LLC
• Shenzhen Vians Electric Lock Co.,Ltd.
• Spectrum Brands Holdings, Inc.
  

For more information about this report visit https://www.researchandmarkets.com/research/9pb9db/smart_lock_market

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