COVID-19 Impact On Smart Lock Market By Components, Verticals And Region – Global Forecast to 2025

The Global Smart Lock Market was valued at USD 1.21 billion in 2016 and is projected to reach USD 3.71 billion by 2025, growing at a CAGR of 13.25% from 2017 to 2025.

A smart lock is an electromechanical lock which is designed to perform locking and unlocking operations on a door when it receives such instructions from an authorized device using a wireless protocol and a cryptographic key to execute the authorization process. Smart locks are able to grant or deny access remotely via a mobile app. Benefits of using a smart lock includes – increased convenience, improved security, increased connectivity, no more passive security, and some smart locks can have security camera installations.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Download Sample of This Strategic Report:

Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Rising adoption of IoT-based security systems
1.2 Increasing urban infrastructure in developing countries
1.3 Growing adoption of smartphones and other connected devices
1.4 Advanced features compared with traditional lock systems
1.5 Increasing security and safety concerns
2. Market Restraints
2.1 Cyber attack treats through smart devices
2.2 Costly solutions
2.3 Poor awareness among customers

Market Segmentation:
The Global Smart Lock Market is segmented on the communication protocol, lock type, vertical, and region.

1. Communication Protocol:
1.1 Zigbee
1.2 Bluetooth
1.3 Wi-Fi
1.4 Z-Wave
1.5 Thread
1.6 NFC

2. By Lock Type:
2.1 Padlocks
2.2 Lever Handles
2.3 Deadbolts
2.4 Knob locks

3. By Vertical:
3.1 Institution & Government
3.2 Commercial
3.3 Industrial Others
3.4 Residential
3.5 Others

4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Allegion Plc
2. Gantner Electronic GmbH
4. Amadas Inc.
5. Samsung Electronics Co., Ltd.
6. Cansec Systems Ltd.
7. Dorma+Kaba Holding AG
8. MIWA Lock Co.
9. Dessmann
10. Spectrum Brands Holdings, Inc.
11. Haven Lock, Inc.
12. Master Lock Company LLC
13. Shenzhen Vians Electric Lock Co.,Ltd.
14. Salto Systems S.L.
15. Onity, Inc.

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Request For Full Report:

Research study on the Global Smart Lock Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

Contact Us

Kenneth Research


Phone: +1 313 462 0609

Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

Leave a Reply