Wilmington, Delaware, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Global Smart Door Lock Market size is valued at US$ 2.1 billion in 2023 and is predicted to rise at a substantial CAGR of 17.5% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
In the forecast period, the introduction of emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) is likely to drive the use of smart locks. Furthermore, the expanding consumer knowledge of the benefits and comfort provided by smart locks is responsible for the ever-increasing demand for them, particularly in the domains of housing and hospitality around the world.
Because of their intricacy and excellent efficiency, they have been deployed in a variety of sites to increase security. AI and ML systems can detect abnormalities and potential security breaches by analyzing trends in user behavior and access history. This improves security by detecting unauthorized access attempts and alerting homeowners in real-time. Behavioral analysis can assist in differentiating between regular and suspect activity, decreasing false alerts while maintaining a high level of security.
These technologies provide improved security, convenience, personalization, and integration into larger smart home ecosystems. As AI and machine learning continue to progress, smart door locks’ capabilities are anticipated to evolve, increasing their attractiveness to consumers looking for modern and sophisticated home security solutions.
- According to a deep-dive market assessment by RationalStat, the smart door lock market has been analyzed on the basis of market segments, including product, types, connecting technology, application, distribution channel, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the smart door lock market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the smart door lock market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Request A Customization- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
Global Smart Door Lock Market: Segmental and Market Share Analysis
- Based on the Connecting Technology, the Wi-Fi segment is expected to dominate the market as the adoption of the 5G network expands and even companies are introducing technologies that can be connected to the Wi-Fi which makes them easily accessible and east to operate.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.1 billion |
| Market Size Forecast | US$ 6.5 billion |
| Growth Rate | 17.5% |
| Dominant Segment | Wi-Fi Segment |
| Leading Region | North America |
| Key Market Drivers |
|
| Companies Profiled |
|
Explore more about this report- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the smart door lock market include,
- In April 2023, ASSA ABLOY Group, a global leader in access solutions, completed a unique South African project to secure companies and residences around the world using its smart lock technology.
- In October 2022, Kwikset (Spectrum Brands Holdings Inc.) introduced two new smart lock products: SmartCode 270 Touchpad Deadbolts and SmartCode 260 Keypad Deadbolts.
Some of the prominent players and suppliers operating and contributing significantly to the smart door lock market growth include August Home Inc., Avent Security, Cansec Systems Ltd, HavenLock Inc., Kwikset, MUL-T-LOCK TECHNOLOGIES LTD, Schlage, Zigbang Co Ltd, Sentrilock LLC, Smart Locking Logic Proprietary Limited, UniKey Technologies Inc, Yale Locks, Goji, Onity Inc, and Honeywell International Inc., among others.
Get A Free Sample- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
RationalStat has segmented the smart door lock market based on products, types, connecting technology, application, distribution channel, and region.
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Products
- Biometric Door Locks
- Face Recognition
- Palm Recognition
- Iris Recognition
- Fingerprint Recognition
- Others
- Smart Card Door Locks
- Electric Strike Door Locks
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Types
- Deadbolt
- Lever Handles
- Padlock
- Others
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Connecting Technology
- Wi-Fi
- Bluetooth
- ZigBee
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Residential
- Hospitality
- Commercials
- Government
- Retail
- Others
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Specialty Stores
- Online stores
- Others (Brand Stores, Departmental Stores, etc.)
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
Global Smart Door Lock Market size is valued at US$ 2.1 billion in 2023 and is predicted to rise at a substantial CAGR of 17.5% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
In the forecast period, the introduction of emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) is likely to drive the use of smart locks. Furthermore, the expanding consumer knowledge of the benefits and comfort provided by smart locks is responsible for the ever-increasing demand for them, particularly in the domains of housing and hospitality around the world.
Because of their intricacy and excellent efficiency, they have been deployed in a variety of sites to increase security. AI and ML systems can detect abnormalities and potential security breaches by analyzing trends in user behavior and access history. This improves security by detecting unauthorized access attempts and alerting homeowners in real-time. Behavioral analysis can assist in differentiating between regular and suspect activity, decreasing false alerts while maintaining a high level of security.
These technologies provide improved security, convenience, personalization, and integration into larger smart home ecosystems. As AI and machine learning continue to progress, smart door locks’ capabilities are anticipated to evolve, increasing their attractiveness to consumers looking for modern and sophisticated home security solutions.
- According to a deep-dive market assessment by RationalStat, the smart door lock market has been analyzed on the basis of market segments, including product, types, connecting technology, application, distribution channel, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the smart door lock market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the smart door lock market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Request A Customization- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
Global Smart Door Lock Market: Segmental and Market Share Analysis
- Based on the Connecting Technology, the Wi-Fi segment is expected to dominate the market as the adoption of the 5G network expands and even companies are introducing technologies that can be connected to the Wi-Fi which makes them easily accessible and east to operate.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.1 billion |
| Market Size Forecast | US$ 6.5 billion |
| Growth Rate | 17.5% |
| Dominant Segment | Wi-Fi Segment |
| Leading Region | North America |
| Key Market Drivers |
|
| Companies Profiled |
|
Explore more about this report- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the smart door lock market include,
- In April 2023, ASSA ABLOY Group, a global leader in access solutions, completed a unique South African project to secure companies and residences around the world using its smart lock technology.
- In October 2022, Kwikset (Spectrum Brands Holdings Inc.) introduced two new smart lock products: SmartCode 270 Touchpad Deadbolts and SmartCode 260 Keypad Deadbolts.
Some of the prominent players and suppliers operating and contributing significantly to the smart door lock market growth include August Home Inc., Avent Security, Cansec Systems Ltd, HavenLock Inc., Kwikset, MUL-T-LOCK TECHNOLOGIES LTD, Schlage, Zigbang Co Ltd, Sentrilock LLC, Smart Locking Logic Proprietary Limited, UniKey Technologies Inc, Yale Locks, Goji, Onity Inc, and Honeywell International Inc., among others.
Get A Free Sample- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
RationalStat has segmented the smart door lock market based on products, types, connecting technology, application, distribution channel, and region.
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Products
- Biometric Door Locks
- Face Recognition
- Palm Recognition
- Iris Recognition
- Fingerprint Recognition
- Others
- Smart Card Door Locks
- Electric Strike Door Locks
- Biometric Door Locks
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Types
- Deadbolt
- Lever Handles
- Padlock
- Others
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Connecting Technology
- Wi-Fi
- Bluetooth
- ZigBee
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Residential
- Hospitality
- Commercials
- Government
- Retail
- Others
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Specialty Stores
- Online stores
- Others (Brand Stores, Departmental Stores, etc.)
- Global Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Smart Door Lock Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
For more information about this report- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
Key Questions Answered in the Smart Door Lock Report:
- What will be the market value of the smart door lock market by 2030?
- What is the market size of the smart door lock market?
- What are the market drivers of the smart door lock market?
- What are the key trends in the smart door lock market?
- Which is the leading region in the smart door lock market?
- What are the major companies operating in the smart door lock market?
- What are the market shares by key segments in the smart door lock market?
Running a Year End Discount of 20%- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Download Key Insights and Market Data - Raise a Query
About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Contact
RationalStat LLC
Kimberly Shaw,
Content and Press Manager
US Phone: +1 302 803 5429
UK Phone: +44 203-287-1245
LinkedIn | Facebook | Twitter | Instagram | Pinterest
Key Questions Answered in the Smart Door Lock Report:
- What will be the market value of the smart door lock market by 2030?
- What is the market size of the smart door lock market?
- What are the market drivers of the smart door lock market?
- What are the key trends in the smart door lock market?
- Which is the leading region in the smart door lock market?
- What are the major companies operating in the smart door lock market?
- What are the market shares by key segments in the smart door lock market?
Running a Year End Discount of 20%- https://store.rationalstat.com/store/global-smart-door-lock-market/#tab-ux_global_tab
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- Australia Head Wear Market- Australia Head Wear market is anticipated to attain a value of US$ 1,322 million by 2030, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period.
- Australia Digital Camcorders Market- Australia digital camcorders market is anticipated to attain a value of US$ 588 million by 2030, growing at a compound annual growth rate (CAGR) of 3.7% during the forecast period.
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Download Key Insights and Market Data - Raise a Query
About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Contact
RationalStat LLC
Kimberly Shaw,
Content and Press Manager
US Phone: +1 302 803 5429
UK Phone: +44 203-287-1245
LinkedIn | Facebook | Twitter | Instagram | Pinterest
