Smart Locks Market by Product (Deadbolts, Lever handles, Padlocks, and Others), Technology (Wi-Fi and Bluetooth), and End User (Commercial and Residential): Global Opportunity Analysis and Industry Forecast, 2017-2023

Smart locks are keyless electronic locks that use Wi-Fi or Bluetooth to interact with the other electronic devices, such as thermostat, air conditioners, CCTV, and others. The locking and unlocking operations are performed with a keyless fob or through various smart lock apps installed on the user’s smartphone. It operates with authenticated authorized instruction and devices either by wireless protocol or cryptographic key.

The smart lock technology uses Internet of Things (IoT) and internet connectivity to identify the user and provide remote access & control to the user using a digital interface. This technology provides advanced methodology over traditional key-based locks and is used to secure the personal property and belongings from theft and burglaries. It works on both Wi-Fi and Bluetooth that makes it beneficial in variety of crucial applications, such as government office security, residential security, surveillance in offices & enterprises, and others.

The smart locks market is driven by growth in applications in the commercial, residential, and government sectors. Furthermore, the increase in need for enhanced security systems in the organizations and usage of portable connected smart devices are the other key factors that accelerate the smart locks industry growth. However, smart locks have their own limitations, such as high initial investments and high cost of devices, insecurity towards privacy intrusion, and loss of smartphones. Broader technology trends, growth in popularity of smart home & smart technology, and convenience have created growth opportunities for key players operating in the electronic locks market.

Smart locks market is segmented on the basis of product type, technology, end user, and geography. Based on product type, it is classified into deadbolts, lever handles, padlocks, and others. Further, the others segment includes footplate locks, rim latches, and wall mounted locks. On the basis of technology, it is bifurcated into Wi-Fi and Bluetooth. In 2016, the Bluetooth technology accounted for about 58% share in the global smart locks market. Based on end user include commercial and residential sectors. Enterprises, government institutions, research labs, and others are considered under the commercial sector.

Proactive government initiatives to standardize security technologies and rapid urbanization & infrastructural developments in the emerging countries are expected to foster the market growth in the commercial and residential sector. The residential segment is expected to grow at a CAGR of 17.8% during the forecast period.

The global smart locks market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period, owing to the presence of large number of established smart lock manufacturers in the U.S., Canada, and Mexico. The Asia-Pacific market is expected to grow at a significant rate in the near future on account of the surge in working population, spiraling technology hubs, and blooming smart homes industry.

The major players active in the smart locks market are August Home, ASSA ABLOY AB, Haven Lock, Inc., Honeywell International Inc., Panasonic Corporation, Samsung SDS Co. Ltd., Schlage, Spectrum Brands, Inc., UniKey Technologies Inc., and Vivint, Inc. These market leaders have maintained their market position with proposed quality maintenance and use of innovative technology.

KEY BENEFITS

This report provides quantitative and qualitative analyses of the current market trends and estimations from 2016 to 2023, which assist to identify the prevailing market opportunities in different product segments.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analysis have been elucidated.
Smart locks market trends of major countries in each region are mapped according to the estimated revenue.
Porter’s Five Forces model illustrates the threat of new entrants & substitutes and strength of the buyers & suppliers.
Key manufactures of smart locks products are profiled and their recent developments are listed.

Key Market Segments

By Product

Deadbolts
Lever Handles
Padlocks
Others

By Technology

Bluetooth
Wi-Fi

By End User

Residential
Commercial

By Geography

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Italy
- Germany
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Singapore
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players

Schlage
Honeywell International Inc.
Panasonic Corporation
Vivint, Inc.
ASSA ABLOY AB
UniKey Technologies Inc.
Haven Lock, Inc.
August Home
Spectrum Brands, Inc.
Samsung SDS Co. Ltd.

Other companies mentioned in the report

Indiegogo, Inc.
WEISER
SentriLock, LLC.
Okidokeys
Cansec Systems Ltd.
Foshan Junteng
Allegion plc
MIWA Lock Co.
Master Lock Company LLC.

CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pocket

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. Moderate bargaining power of suppliers
3.3.2. High bargaining power of buyers
3.3.3. Low threat of substitution
3.3.4. Moderate threat of new entrants
3.3.5. High competitive rivalry

3.4. MARKET DYNAMICS

3.4.1. Drivers

3.4.1.1. Growing application of smart locks technology in commercial and government sectors
3.4.1.2. Increasing concern for safety and security
3.4.1.3. Unique technology with easy usage
3.4.1.4. Increasing standards of living
3.4.1.5. Budding developments in emerging markets
3.4.1.6. Increase in demand for smartphones
3.4.1.7. Increasing trend for IoT

3.4.2. Restraints

3.4.2.1. High initial investments and cost of devices
3.4.2.2. Fear of privacy intrusion

3.4.3. Opportunities

3.4.3.1. Flourishing use in residential sector

CHAPTER 4 SMART LOCKS MARKET, BY PRODUCT TYPE

4.1. OVERVIEW

4.1.1. Market size and forecast

4.2. DEADBOLT

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. LEVER HANDLE

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. PADLOCK

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

4.5. OTHERS

4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast

CHAPTER 5 SMART LOCKS MARKET, BY TECHNOLOGY

5.1. OVERVIEW

5.1.1. Market size and forecast

5.2. WI-FI

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. BLUETOOTH

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

CHAPTER 6 SMART LOCKS MARKET, BY END USER

6.1. OVERVIEW

6.1.1. Market size and forecast

6.2. RESIDENTIAL

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.3. COMMERCIAL

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

CHAPTER 7 SMART LOCKS MARKET, BY REGION

7.1. OVERVIEW
7.2. NORTH AMERICA

7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast

7.2.3.1. U.S.
7.2.3.2. Canada
7.2.3.3. Mexico

7.3. EUROPE

7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast

7.3.3.1. United Kingdom
7.3.3.2. Italy
7.3.3.3. France
7.3.3.4. Germany
7.3.3.5. Rest of Europe

7.4. ASIA-PACIFIC

7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast

7.4.3.1. China
7.4.3.2. Japan
7.4.3.3. India
7.4.3.4. Singapore
7.4.3.5. Rest of Asia-Pacific

7.5. LAMEA

7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast

7.5.3.1. Latin America
7.5.3.2. Middle East
7.5.3.3. Africa

CHAPTER 8 COMPANY PROFILES

8.1. AUGUST HOME

8.1.1. Company overview
8.1.2. Business performance
8.1.3. Operating business segments
8.1.4. Key strategic moves and developments

8.2. ASSA ABLOY AB

8.2.1. Company overview
8.2.2. Business performance
8.2.3. Operating business segments
8.2.4. Key strategic moves and developments

8.3. HAVEN LOCK, INC.

8.3.1. Company overview
8.3.2. Business performance
8.3.3. Operating business segments
8.3.4. Key strategic moves and developments

8.4. HONEYWELL INTERNATIONAL INC.

8.4.1. Company overview
8.4.2. Business performance
8.4.3. Operating business segments
8.4.4. Key strategic moves and developments

8.5. PANASONIC CORPORATION

8.5.1. Company overview
8.5.2. Business performance
8.5.3. Operating business segments
8.5.4. Key strategic moves and developments

8.6. SAMSUNG SDS CO. LTD.

8.6.1. Company overview
8.6.2. Business performance
8.6.3. Operating business segments
8.6.4. Key strategic moves and developments

8.7. SCHLAGE

8.7.1. Company overview
8.7.2. Business performance
8.7.3. Operating business segments
8.7.4. Key strategic moves and developments

8.8. SPECTRUM BRANDS, INC.

8.8.1. Company overview
8.8.2. Business performance
8.8.3. Operating business segments
8.8.4. Key strategic moves and developments

8.9. UNIKEY TECHNOLOGIES INC.

8.9.1. Company overview
8.9.2. Business performance
8.9.3. Operating business segments
8.9.4. Key strategic moves and developments

8.10. VIVINT, INC.

8.10.1. Company overview
8.10.2. Business performance
8.10.3. Operating business segments
8.10.4. Key strategic moves and developments

LIST OF TABLES

TABLE 1. GLOBAL SMART LOCKS MARKET, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 2. SMART DEADBOLTS MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 3. SMART LEVER HANDLES MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 4. SMART PADLOCKS MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 5. SMART OTHER LOCKS MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 6. SMART LOCKS MARKET, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 7. SMART LOCKS MARKET REVENUE FROM WI-FI, BY REGION, 2016-2023 ($MILLION)
TABLE 8. SMART LOCKS MARKET REVENUE FROM BLUETOOTH, BY REGION, 2016-2023 ($MILLION)
TABLE 9. GLOBAL SMART LOCKS MARKET BY END USER, 2016-2023 ($MILLION)
TABLE 10. SMART LOCKS MARKET REVENUE FROM RESIDENTIAL USERS, BY REGION, 2014-2022 ($MILLION)
TABLE 11. SMART LOCKS MARKET REVENUE FROM COMMERCIAL USERS, BY REGION, 2016-2023 ($MILLION)
TABLE 12. GLOBAL SMART LOCKS MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 13. NORTH AMERICA SMART LOCKS MARKET, REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 14. NORTH AMERICA SMART LOCKS MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 15. EUROPE SMART LOCKS MARKET, REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 16. EUROPE SMART LOCKS MARKET, REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 17. ASIA-PACIFIC SMART LOCKS MARKET, REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 18. ASIA-PACIFIC SMART LOCKS MARKET, REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 19. LAMEA SMART LOCKS MARKET, REVENUE, BY PRODUCT TYPE, 2016-2023 ($MILLION)
TABLE 20. LAMEA SMART LOCKS MARKET, REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 21. AUGUST HOME: COMPANY SNAPSHOT
TABLE 22. AUGUST HOME: OPERATING SEGMENT
TABLE 23. AUGUST HOME: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 24. ASSA ABLOY AB: COMPANY SNAPSHOT
TABLE 25. ASSA ABLOY AB: OPERATING SEGMENT
TABLE 26. ASSA ABLOY AB: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 27. HAVEN LOCK, INC.: COMPANY SNAPSHOT
TABLE 28. HAVEN LOCK, INC.: OPERATING SEGMENT
TABLE 29. HAVEN LOCK, INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 30. HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
TABLE 31. HONEYWELL INTERNATIONAL INC.: OPERATING SEGMENT
TABLE 32. HONEYWELL INTERNATIONAL INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 33. PANASONIC CORPORATION: COMPANY SNAPSHOT
TABLE 34. PANASONIC CORPORATION: OPERATING SEGMENT
TABLE 35. PANASONIC CORPORATION: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 36. SAMSUNG SDS CO. LTD.: COMPANY SNAPSHOT
TABLE 37. SAMSUNG SDS CO. LTD.: OPERATING SEGMENT
TABLE 38. SAMSUNG SDS CO. LTD.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 39. SCHLAGE: COMPANY SNAPSHOT
TABLE 40. SCHLAGE: OPERATING SEGMENT
TABLE 41. SCHLAGE: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 42. SPECTRUM BRANDS, INC.: COMPANY SNAPSHOT
TABLE 43. SPECTRUM BRANDS, INC.: OPERATING SEGMENT
TABLE 44. SPECTRUM BRANDS, INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 45. UNIKEY TECHNOLOGIES INC.: COMPANY SNAPSHOT
TABLE 46. UNIKEY TECHNOLOGIES INC.: OPERATING SEGMENT
TABLE 47. UNIKEY TECHNOLOGIES INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 48. VIVINT, INC.: COMPANY SNAPSHOT
TABLE 49. VIVINT, INC.: OPERATING SEGMENT
TABLE 50. VIVINT, INC.: STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 1. SMART LOCKS MARKET SEGMENTATION
FIGURE 2. TOP IMPACTING FACTORS OF SMART LOCKS MARKET
FIGURE 3. TOP WINNING STRATEGY ANALYSIS
FIGURE 4. TOP WINNING STRATEGIES, BY COMPANY, 2013-2016 (%)
FIGURE 5. TOP INVESTMENT POCKETS
FIGURE 6. PORTERS FIVE FORCE MODEL
FIGURE 7. GDP PER CAPITA PPP FOR MAJOR COUNTRIES IN THE WORLD, 2012-2015
FIGURE 8. GLOBAL SMART LOCKS MARKET, BY PRODUCT TYPE, 2016 (%SHARE)
FIGURE 9. GLOBAL SMART DEADBOLTS MARKET, REVENUE, 2016-2023 ($MILLION)
FIGURE 10. GLOBAL SMART LEVER HANDLES MARKET, REVENUE, 2016-2023 ($MILLION)
FIGURE 11. GLOBAL SMART PADLOCKS MARKET, REVENUE, 2016-2023 ($MILLION)
FIGURE 12. GLOBAL SMART OTHER LOCKS MARKET, REVENUE, 2014-2022 ($MILLION)
FIGURE 13. GLOBAL SMART LOCKS MARKET, BY TECHNOLOGY, 2016 (%SHARE)
FIGURE 14. GLOBAL SMART LOCKS MARKET REVENUE FROM WI-FI, 2016-2023 ($MILLION)
FIGURE 15. GLOBAL SMART LOCKS MARKET REVENUE FROM BLUETOOTH, 2016-2023 ($MILLION)
FIGURE 16. GLOBAL SMART LOCKS MARKET, BY END USER, 2016 (%SHARE)
FIGURE 17. GLOBAL SMART LOCKS MARKET REVENUE FROM RESIDENTIAL END USERS, 2016-2023 ($MILLION)
FIGURE 18. GLOBAL SMART LOCKS MARKET REVENUE FROM COMMERCIAL USERS, 2016-2023 ($MILLION)
FIGURE 19. GLOBAL SMART LOCKS MARKET SHARE, BY REGION, 2016 (%)

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