Global Smart Lock Market 2023-2027

Global Smart Lock Market 2023-2027
The smart lock market is forecasted to grow by USD 1,736.68 mn during 2022-2027, accelerating at a CAGR of 11.61% during the forecast period. The report on the smart lock market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by a growing number of smart cities worldwide, the integration of human-machine interface (HMI) technologies in smart locks, and increasing applications of smart security in residential and commercial sectors.

Technavio's smart lock market is segmented as below:

By TechnologyWiFiBluetoothZigbeeZ-waveBy End-userCommercialResidentialBy Geographical LandscapeNorth AmericaEuropeAPACSouth AmericaMiddle East and AfricaThis study identifies the integration with voice assistants and smart home ecosystems as one of the prime reasons driving the smart lock market growth during the next few years. Also, the growing prevalence of smart locks as a service and the growing prevalence of biometric authentication in smart locks will lead to sizable demand in the market.

The report on the smart lock market covers the following areas:Smart lock market sizingSmart lock market forecastSmart lock market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart lock market vendors that include ASSA ABLOY AB, Be Tech Asia Ltd., Carrier Global Corp., dorsetindia.com, Honeywell International Inc., I Leaf Buildpro Pvt Ltd., iF International Forum Design GmbH, iLockey, Jainson Locks, Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., SOLITY Co Ltd., Spectrum Brands Holdings Inc., Tekno Electro Solutions Pvt Ltd, Vivint Inc., Yale India, Davcor Group Pty Ltd, Dormakaba Holding AG, and Allegion Public Ltd. Co.. Also, the smart lock market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.