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Smart Lock Market Size, Share & Trends, Report 2030GVR Report cover
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Smart Lock Market Size, Share & Trends Analysis Report By Type (Deadbolt, Lever Handle, Padlock), By Application, By Communication Protocol, By Authentication Method, By Region, And Segment Forecasts, 2024 - 2030
- Report ID: GVR-1-68038-138-2
- Number of Report Pages: 132
- Format: PDF, Horizon Databook
- Historical Range: 2018 - 2021
- Forecast Period: 2023 - 2030
- Industry: Technology
Smart Lock Market Size & Trends
The global smart lock market size was valued at USD 2.32 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 19.6% from 2023 to 2030. The emergence of growing technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) are expected to boost the adoption of smart locks in the forecast period. In addition, the growing consumer awareness about the advantages and security offered by smart door locks is contributing to market growth. Their complexity and high efficiency have led to their deployment in various locations to strengthen security.
The growth in global smart home adoption and the influx of companies that come with home automation technology are also factors in the rising demand for smart locks. The players in the industry are focused on providing commercially viable products and developing advanced solutions, including remote locking/opening of doors and windows. In addition, as the number of homes with voice assistants grows steadily, manufacturers are integrating their offerings with such devices, enabling voice to control locks.
Such innovations are expected to increase smart door locks with camera popularity as customers are progressively seeking advanced locking/unlocking systems. There is a growing need to safeguard various properties such as individual houses, hotels, supermarkets, banks, financial institutions, corporate buildings, smart lockers, and commercial buildings with advanced security solutions, which is expected to drive the market over the forecast period.
Since its inception, smart locks have emerged to provide efficient and easy-to-use solutions. Increased security concerns are a significant factor in the rapid adoption of smart locks globally, especially in the residential environment. With the growth in the number of construction projects across North America and the Asia Pacific, the industry has benefited tremendously due to the increase in new installations. When connected to a smart home ecosystem, the smart lock is one of the most prominent parts of a connected home.
Another major use of smart locks is in the Hospitality industry. Various hotels have planned to use Wi-Fi or Bluetooth-enabled locks instead of RFID locks accessed by IC cards to improve the security of their premises. In smart home technology, connectivity is enabled via communication technologies like Z-wave, Wi-Fi, Thread, ZigBee, etc. All these technologies can be installed on the same device. For instance, in March 2022, Schlage (Allegion Plc) launched the new Encode Plus, one of the first smart locks to leverage Apple’s Home Key standard. Encode Plus provides an option for tapping the user's watch or phone against the keypad for unlocking.
The COVID-19 outbreak significantly impacted the smart lock market due to the restrictions imposed by various governments. For instance, the reduced activities in production lines due to social distancing norms affected the market growth during the initial phase of the pandemic. However, the market also witnessed various opportunities due to the onset of the pandemic, as the demand for security solutions, which minimized the need for physical touch, increased.
Organizations focused on innovative technologies in the residential and commercial sectors, including artificial intelligence (AI), machine learning (ML), internet of things (IoT), and cloud computing, to implement contactless activities in the post-COVID-19 era. This is projected to spur growth for app-based smart lock systems that will promote global smart lock adoption.
Market Concentration & Characteristics
The market growth stage is high, and the pace of the market growth is accelerating. Smart locks have several advantages over traditional locks, including enhanced security, easy remote access control, keyless entry, and the ability to integrate with other smart home devices. The proliferation of technologies such as the Internet of Things (IoT), artificial intelligence, and machine learning have made smart locks a convenient choice of security for the millennials, making it a popular security solution across growing urban regions.
The smart lock market is witnessing a moderate number of merger and acquisition (M&A) activities by the leading players underlying a dynamic industry landscape. Several key players have established themselves in regional as well as global market and earned the trust of consumers by continuously upgrading their smart lock offerings, making them more reliable.
The smart lock market is also subject to the moderate impact of regulations. There are various organizations and regulatory bodies across various nations that are engaged in developing smart lock technology and hardware standards to ensure the safety, security, and compliance of these products. Smart lock capabilities may raise concerns about privacy, and some countries have implemented regulations to address these concerns.
End-user concentration is a significant factor in the smart lock market. Large end-users such as residential complexes, commercial buildings, and hospitality chains are the primary customers for smart locks. These end-users require many smart locks, making up a significant portion of the market demand. The concentration of end-users has led to increased competition among smart lock vendors to secure relationships with these key players.
Type Insights
The deadbolt category accounted for the largest revenue share in 2022 in terms of volume, and it is expected to continue to rise over the forecast period. The growth of smart lock deadbolt segment is attributed to the product’s growing deployment across various sectors and easy installation. Factors such as low installation costs, high durability, and adequate protection against intrusion contribute to the growth of the deadbolt segment. Further, companies are focused on expanding their product portfolio. For instance, Kwikset expanded its line of innovative deadbolts with built-in features, including single-touch locks, low battery warnings, and personalized user codes, which attracted a lot of customers.
In terms of volume, the lever handle segment is predicted to grow at a notable CAGR of over 25% from 2023 to 2030. Modernization operations in the hospitality sector to meet tourist security needs are expected to boost the segment's growth. Smart lever handles are frequently used in commercial environments on interior doors. In comparison to their competitors, they have simple locking/unlocking processes, including the push-down style handle rather than a knob, which requires gripping and turning.
The padlock market is expected to expand at a significant CAGR over the next few years, resulting in widespread usage of smart locks globally because of various advantages, including high-end security, user activity management, convenience, and smartphone connectivity. Smart padlocks are increasingly being used while travelling outside of the residential sector to provide complete security for luggage.
Application Insights
The residential application segment had the highest revenue share of over 60% in 2022, and the segment is likely to continue dominating throughout the forecast period. Its substantial revenue output can be linked to expanding worldwide smart home penetration as well as an increase in new construction and restoration projects across the sector in recent years. Increased affordability of modern security solutions such as motion detectors, door and window opening sensors, fingerprint door locks, and remote door locking and unlocking is projected to drive adoption even further. The development of locks that are compatible with technologies like Z-Wave, ZigBee, and BLE is gaining traction, specifically for mass-market residential applications, thus attracting a broad client base.
The hospitality segment is expected to grow at a CAGR of over 23% from 2023 to 2030. The industry has been rapidly implementing smart locks to accommodate consumers' growing security concerns throughout their visits. The obligation for hotels to improve in-room security is expected to boost the usage of these keyless access devices in the coming years. Leading market players are offering innovative solutions for the hospitality industry.
For instance, in October 2022, Kwikset (Spectrum Brands Holdings, Inc.) smart lock manufacturer launched two new products under its umbrella of smart lock products: SmartCode 270 Touchpad Deadbolts and SmartCode 260 Keypad Deadbolts. Both these products are available in traditional and contemporary styles along with application support. The implementation of these locks also increases the hotel's brand value, which drives their acceptance even further across the industry.
Regional Insights
North America had the largest market share in 2022, accounting for around 39% in terms of volume, and is expected to grow significantly during the forecast period owing to advancements in smart lock technology. This is due to extensive technology adoption and the rapid expansion of smart homes in the U.S. For instance, 30% of internet households in the U.S. want to get a smart lock for sliding door by the end of 2023. Customers' high spending power coupled with increasing safety concerns, particularly in key infrastructure and domestic applications, has resulted in a supportive regulatory environment for their adoption.
Asia Pacific is predicted to grow at a CAGR of more than 25% from 2023 to 2030, in terms of volume. Significant growth could be attributed to a dramatic increase in the number of residential and commercial projects and ongoing programs of smart cities in developing countries like India. In addition, door locks with keypads have higher penetration across the region and have seen significant growth, which plays a vital role in spreading awareness about advanced gadgets and technologies. Several smart lock manufacturers in the APAC region are constantly developing new features for smart locks; in addition, many new start-up companies are testing new smart lock applications to improve safety. Increasing urbanization across various countries including India, Singapore, Indonesia, Australia and New Zealand among others in the in Asia Pacific region is creating opportunity for global smart lock manufacturers.
Recent Development
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In April 2023, ASSA ABLOY Group, a global leader of access solutions, has carried out a distinctive South African assignment for securing businesses and homes worldwide through its smart lock solution.
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In March 2023, HavenLock Inc., a Tennessee based veteran organization and developer of the innovative Haven Lockdown System, declared the launch of a Power G version of a smart locking system that is safe for school and commercial purposes.
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In March 2023, Honeywell International Inc., an American multinational conglomerate organization, reported the successful implementation of Bengaluru safe city project with the aim to provide a safe environment for citizens through the organization’s smart lock and security technology.
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In February 2023, Sentrilock, LLC, a leading provider of electronic lockbox solutions for the real estate sector, reported its latest partnership with Chesapeake Bay and Rivers Association of REALTORS (CBRAR) to create a smart electronic lockbox solution marketplace for the members of REALTORS.
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In January 2023, Schlage, a leading supplier of access and home security solutions under Allegion Plc, launched the Schlage EncodeTM Smart Wi-Fi Lever, a residential smart lock, at the NAHB International Builders’ Show (IBS) 2023.
Key Smart Lock Companies:
- August Home, Inc. (ASSA ABLOY)
- Avent Security
- Cansec Systems Ltd.
- HavenLock, Inc.
- Kwikset (Spectrum Brands Holdings, Inc.)
- MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY)
- Schlage (Allegion Plc)
- Zigbang Co., Ltd. (Previously Samsung SDS)
- Sentrilock, LLC
- Smart Locking Logic Proprietary Limited
- UniKey Technologies, Inc.
- Yale Locks (ASSA ABLOY)
- Goji
- Onity Inc. (Carrier Global Corporation)
- Honeywell International Inc.
Smart Lock Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 2.32 billion
Revenue forecast in 2030
USD 8.14 billion
Growth rate
CAGR of 19.6% from 2023 to 2030
Actual data
2018 - 2023
Forecast period
2024 - 2030
Quantitative units
Revenue in USD Million, Volume in Thousand Units and CAGR from 2023 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Type, Application, Communication Protocol, Authentication Model, and Region
Regional scope
North America, Europe, Asia Pacific, Latin America, MEA
Country scope
U.S., Canada, U.K., Germany, France, Italy, Spain, BENELUX, NORDIC, Russia, China, South Korea, Japan, India, Australia, Indonesia, Brazil, Mexico, Argentina, UAE, Saudi Arabia, Egypt, South Africa, and Nigeria
Key companies profiled
August Home, Inc. (ASSA ABLOY); Avent Security; Cansec Systems Ltd.; HavenLock, Inc.; Kwikset (Spectrum Brands Holdings, Inc.); MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY); Schlage (Allegion Plc); Zigbang Co., Ltd. (Previously Samsung SDS); Sentrilock, LLC; Smart Locking Logic Proprietary Limited; UniKey Technologies, Inc.; Yale Locks (ASSA ABLOY); Goji; Onity Inc. (Carrier Global Corporation); Honeywell International Inc.
Customization scope
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Global Smart Lock Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart lock market report based on type, application, communication protocol, authentication method, and region:
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Type Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
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Deadbolt
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Level Handlers
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Padlock
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Server Locks & Latches
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Knob Locks
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Others
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Application Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
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Residential
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Individual Household
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Commonhold
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Commercial
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Hospitality
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Healthcare
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Banking & Financial Institutes
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Enterprise
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Critical Infrastructure
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Educational Institution
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Industrial
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Manufacturing
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Energy & Utilities
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Oil & Gas
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Transportation & Logistics
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Institutional & Government
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Others
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Communication Protocol Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
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Bluetooth
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Wi-Fi
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Z-Wave
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Zigbee
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Others
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Authentication Method Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
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Keypad
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Card Key
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Touch Based
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Key Fob
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Smartphone Based
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Biometric
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Regional Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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BENELUX
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NORDICS
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Russia
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East and Africa (MEA)
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UAE
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Saudi Arabia
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Egypt
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South Africa
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Nigeria
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Frequently Asked Questions About This Report
b. The global smart lock market size was valued at USD 1.95 billion in 2022 and is expected to reach USD 2.32 billion in 2023.
b. The global smart lock market is expected to grow at a compound annual growth rate of 19.6% from 2023 to 2030 to reach USD 8.13 billion by 2030.
b. The deadbolt segment registered the highest revenue share of over 45% in 2022 in the smart lock market and is expected to continue dominating the industry over the forecast period.
b. North America captured the largest share of over 40% in the smart lock market in 2022 and is expected to maintain its dominance over the forecast period.
b. The residential segment dominated the smart lock market with a revenue share of more than 63% in 2022. This is attributable to a rising number of new construction projects in the emerging economies along with the increasing adoption of smart security solutions across the sector.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.3.1. Information analysis
1.3.2. Market formulation & data visualization
1.3.3. Data validation & publishing
1.4. Research Scope and Assumptions
1.4.1. List to Data Sources
Chapter 2. Executive Summary
2.1. Smart Lock Market Snapshot
2.2. Smart Lock Market- Segment Snapshot (1/2)
2.3. Smart Lock Market- Segment Snapshot (2/2)
2.4. Smart Lock Market- Competitive Landscape Snapshot
Chapter 3. Smart Lock Market - Industry Outlook
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Growing preferences for smart home ecosystems
3.3.1.2. Increasing smartphone penetration and continued rollout of high-speed internet networks
3.3.1.3. Widening non-residential application base
3.3.2. Market Restraint Analysis
3.3.2.1. Technological challenges and potential vulnerabilities
3.3.2.2. Security threats and system compromise
3.3.3. Market Challenges
3.3.4. Market Opportunities
3.4. Industry Analysis Tools
3.4.1. Porter’s analysis
3.4.2. Macroeconomic analysis
3.5. Smart Lock Market - COVID-19 Impact Analysis
Chapter 4. Smart Lock Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2022 & 2030
4.2. Smart Lock Market Estimates & Forecast, By Type (Thousand Units)
4.3. Smart Lock Market Estimates & Forecast, By Type (USD Million)
4.3.1. Deadbolt
4.3.2. Level Handles
4.3.3. Padlock
4.3.4. Server Locks & Latches
4.3.5. Knob Locks
4.3.6. Others
Chapter 5. Smart Lock Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2022 & 2030
5.2. Smart Lock Market Estimates & Forecast, By Application (Thousand Units)
5.3. Smart Lock Market Estimates & Forecast, By Application (USD Million)
5.3.1. Residential
5.3.1.1. Individual Household
5.3.1.2. Commonhold
5.3.2. Commercial
5.3.2.1. Hospitality
5.3.2.2. Healthcare
5.3.2.3. Banking & Financial Institutes
5.3.2.4. Enterprise
5.3.2.5. Critical Infrastructure
5.3.2.6. Educational Institution
5.3.3. Industrial
5.3.3.1. Manufacturing
5.3.3.2. Energy & Utilities
5.3.3.3. Oil & Gas
5.3.4. Transportation & Logistics
5.3.5. Institutional & Government
5.3.6. Others
Chapter 6. Smart Lock Market: Communication Protocol Estimates & Trend Analysis
6.1. Communication Protocol Movement Analysis & Market Share, 2022 & 2030
6.2. Smart Lock Market Estimates & Forecast, By Communication Protocol (Thousand Units)
6.3. Smart Lock Market Estimates & Forecast, By Communication Protocol (USD Million)
6.3.1. Bluetooth
6.3.2. Wi-Fi
6.3.3. Z-Wave
6.3.4. Zigbee
6.3.5. Others
Chapter 7. Smart Lock Market: Authentication Method Estimates & Trend Analysis
7.1. Authentication Method Movement Analysis & Market Share, 2022 & 2030
7.2. Smart Lock Market Estimates & Forecast, By Authentication Method (Thousand Units)
7.3. Smart Lock Market Estimates & Forecast, By Authentication Method (USD Million)
7.3.1. Keypad
7.3.2. Card Key
7.3.3. Touch Based
7.3.4. Key Fob
7.3.5. Smartphone Based
7.3.6. Biometric
Chapter 8. Regional Estimates & Trend Analysis
8.1. Smart Lock Market by Region, 2022 & 2030
8.2. North America
8.2.1. North America Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million)
8.2.2. U.S.
8.2.3. Canada
8.3. Europe
8.3.1. Europe Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million)
8.3.2. U.K.
8.3.3. Germany
8.3.4. France
8.3.5. Italy
8.3.6. Spain
8.3.7. BENELUX
8.3.8. NORDICS
8.3.9. Russia
8.4. Asia Pacific
8.4.1. Asia Pacific Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million)
8.4.2. China
8.4.3. Japan
8.4.4. India
8.4.5. South Korea
8.4.6. Australia
8.4.7. Indonesia
8.5. Latin America
8.5.1. Latin America Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million)
8.5.2. Brazil
8.5.3. Mexico
8.5.4. Argentina
8.6. Middle East & Africa (MEA)
8.6.1. MEA Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million)
8.6.2. UAE
8.6.3. Saudia Arabia
8.6.4. Egypt
8.6.5. South Africa
8.6.6. Nigeria
Chapter 9. Smart Lock Market - Competitive Landscape
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Performance
9.5. Product Benchmarking
9.6. Company Market Share Analysis, 2022
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.8.1. Expansion/Divestiture
9.8.2. Collaborations/Partnerships
9.8.3. New Product Launches
9.8.4. Contract
9.9. Company Profiles
9.9.1. August Home Inc. (ASSA ABLOY)
9.9.1.1. Participant’s Overview
9.9.1.2. Financial Performance
9.9.1.3. Product Benchmarking
9.9.1.4. Recent Developments
9.9.2. Avent Security
9.9.2.1. Participant’s Overview
9.9.2.2. Financial Performance
9.9.2.3. Product Benchmarking
9.9.2.4. Recent Developments
9.9.3. Cansec Systems Inc.
9.9.3.1. Participant’s Overview
9.9.3.2. Financial Performance
9.9.3.3. Product Benchmarking
9.9.3.4. Recent Developments
9.9.4. HavenLock Inc.
9.9.4.1. Participant’s Overview
9.9.4.2. Financial Performance
9.9.4.3. Product Benchmarking
9.9.4.4. Recent Developments
9.9.5. Kwikset (Spectrum Brands Holdings Inc.)
9.9.5.1. Participant’s Overview
9.9.5.2. Financial Performance
9.9.5.3. Product Benchmarking
9.9.5.4. Recent Developments
9.9.6. MUL-T-LOCK Technologies Ltd. (ASSA ABLOY)
9.9.6.1. Participant’s Overview
9.9.6.2. Financial Performance
9.9.6.3. Product Benchmarking
9.9.6.4. Recent Developments
9.9.7. Schlage (Allegion Plc)
9.9.7.1. Participant’s Overview
9.9.7.2. Financial Performance
9.9.7.3. Product Benchmarking
9.9.7.4. Recent Developments
9.9.8. Zigbang Co. Ltd. (Samsung SDS)
9.9.8.1. Participant’s Overview
9.9.8.2. Financial Performance
9.9.8.3. Product Benchmarking
9.9.8.4. Recent Developments
9.9.9. Sentrilock LLC
9.9.9.1. Participant’s Overview
9.9.9.2. Financial Performance
9.9.9.3. Product Benchmarking
9.9.9.4. Recent Developments
9.9.10. Smart Locking Logic Proprietary Limited
9.9.10.1. Participant’s Overview
9.9.10.2. Financial Performance
9.9.10.3. Product Benchmarking
9.9.10.4. Recent Developments
9.9.11. UniKey Technologies Inc.
9.9.11.1. Participant’s Overview
9.9.11.2. Financial Performance
9.9.11.3. Product Benchmarking
9.9.11.4. Recent Developments
9.9.12. Yale Locks (ASSA ABLOY)
9.9.12.1. Participant’s Overview
9.9.12.2. Financial Performance
9.9.12.3. Product Benchmarking
9.9.12.4. Recent Developments
9.9.13. Goji
9.9.13.1. Participant’s Overview
9.9.13.2. Financial Performance
9.9.13.3. Product Benchmarking
9.9.13.4. Recent Developments
9.9.14. Onity Inc. (Carrier Global Corporation)
9.9.14.1. Participant’s Overview
9.9.14.2. Financial Performance
9.9.14.3. Product Benchmarking
9.9.14.4. Recent Developments
9.9.15. Honeywell International Inc.
9.9.15.1. Participant’s Overview
9.9.15.2. Financial Performance
9.9.15.3. Product Benchmarking
9.9.15.4. Recent Developments
List of Tables
Table 1 Smart Lock Market (USD Million, Thousand Units), 2018 - 2030
Table 2 Global Smart Lock Market Estimates and Forecasts by Region 2018 - 2030 (USD Million, Thousand Units)
Table 3 Global Smart Lock Market Estimates and Forecasts by Type 2018 - 2030 (USD Million, Thousand Units)
Table 4 Global Smart Lock Market Estimates and Forecasts by Application 2018 - 2030 (USD Million, Thousand Units)
Table 5 Global Smart Lock Market Estimates and Forecasts by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 6 Global Smart Lock Market Estimates and Forecasts by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 7 Smart Lock - M&A, Collaborations & Partnership Scenario
Table 8 Deadbolt Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 9 Level Handles Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 10 Padlock Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 11 Server Lock & Latches Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 12 Knob Locks Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 13 Others Type Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 14 Residential Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 15 Commercial Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 16 Industrial Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 17 Institutional & Government Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 18 Transportation & Logistics Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 19 Others Application Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 20 Bluetooth Communication Protocol Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 21 Wi-Fi Communication Protocol Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 22 Z-Wave Communication Protocol Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 23 Zigbee Communication Protocol Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 24 Others Communication Protocol Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 25 Keypad Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 26 Card Key Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 27 Touch Based Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 28 Key Fob Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 29 Smartphone Based Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 30 Biometric Authentication Method Market by Region 2018 - 2030 (USD Million, Thousand Units)
Table 31 North America Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 32 North America Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 33 North America Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 34 North America Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 35 U.S. Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 36 U.S. Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 37 U.S. Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 38 U.S. Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 39 Canada Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 40 Canada Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 41 Canada Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 42 Canada Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 43 Europe Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 44 Europe Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 45 Europe Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 46 Europe Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 47 Germany Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 48 Germany Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 49 Germany Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 50 Germany Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 51 U.K. Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 52 U.K. Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 53 U.K. Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 54 U.K. Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 55 France Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 56 France Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 57 France Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 58 France Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 59 Italy Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 60 Italy Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 61 Italy Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 62 Italy Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 63 Spain Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 64 Spain Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 65 Spain Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 66 Spain Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 67 BENELUX Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 68 BENELUX Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 69 BENELUX Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 70 BENELUX Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 71 NORDICS Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 72 NORDICS Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 73 NORDICS Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 74 NORDICS Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 75 Russia Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 76 Russia Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 77 Russia Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 78 Russia Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 79 Asia Pacific Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 80 Asia Pacific Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 81 Asia Pacific Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 82 Asia Pacific Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 83 China Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 84 China Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 85 China Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 86 China Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 87 Japan Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 88 Japan Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 89 Japan Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 90 Japan Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 91 India Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 92 India Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 93 India Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 94 India Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 95 South Korea Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 96 South Korea Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 97 South Korea Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 98 South Korea Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 99 Australia Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 100 Australia Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 101 Australia Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 102 Australia Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 103 Indonesia Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 104 Indonesia Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 105 Indonesia Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 106 Indonesia Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 107 Latin America Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 108 Latin America Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 109 Latin America Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 110 Latin America Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 111 Brazil Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 112 Brazil Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 113 Brazil Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 114 Brazil Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 115 Mexico Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 116 Mexico Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 117 Mexico Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 118 Mexico Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 119 Argentina Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 120 Argentina Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 121 Argentina Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 122 Argentina Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 123 Middle East and Africa Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 124 Middle East and Africa Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 125 Middle East and Africa Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 126 Middle East and Africa Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 127 UAE Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 128 UAE Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 129 UAE Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 130 UAE Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 131 Saudi Arabia Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 132 Saudi Arabia Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 133 Saudi Arabia Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 134 Saudi Arabia Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 135 Egypt Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 136 Egypt Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 137 Egypt Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 138 Egypt Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 139 South Africa Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 140 South Africa Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 141 South Africa Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 142 South Africa Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
Table 143 Nigeria Smart Lock Market by Type 2018 - 2030 (USD Million, Thousand Units)
Table 144 Nigeria Smart Lock Market by Application 2018 - 2030 (USD Million, Thousand Units)
Table 145 Nigeria Smart Lock Market by Communication Protocol 2018 - 2030 (USD Million, Thousand Units)
Table 146 Nigeria Smart Lock Market by Authentication Method 2018 - 2030 (USD Million, Thousand Units)
List of Figures
Fig. 1 Smart Lock Market Segmentation
Fig. 2 Smart Lock Landscape
Fig. 3 Information Procurement
Fig. 4 Data Analysis Models
Fig. 5 Market Formulation and Validation
Fig. 6 Data Validating & Publishing
Fig. 7 Market Snapshot
Fig. 8 Segment Snapshot (1/2)
Fig. 9 Segment Snapshot (2/2)
Fig. 10 Competitive Landscape Snapshot
Fig. 11 Smart Lock - Market Size and Growth Prospects (USD Million, Thousand Units)
Fig. 12 Smart Lock Market: Industry Value Chain Analysis
Fig. 13 Smart Lock Market: Market Dynamics
Fig. 14 Smart Lock Mareket: PORTER's Analysis
Fig. 15 Smart Lock Marekt: PESTEL Analysis
Fig. 16 Smart Lock Market Share by Type: Key Takeaway
Fig. 17 Smart Lock Market, by Type: Market Share, 2022 & 2030
Fig. 18 Deadbolt Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 19 Level Handles Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 20 Padlocks Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 21 Server Locks & Latches Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 22 Knob Locks Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 23 Others Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 24 Smart Lock Market Share by Application: Key Takeaway
Fig. 25 Smart Lock Market, by Application: Market Share, 2022 & 2030
Fig. 26 Residential Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 27 Commercial Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 28 Industrial Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 29 Institutional & Government Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 30 Transportation & Logistics Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 31 Others Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 32 Smart Lock Market Share by Communication Protocol: Key Takeaway
Fig. 33 Smart Lock Market, by Communication Protocol: Market Share, 2022 & 2030
Fig. 34 Bluetooth Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 35 Wi-Fi Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 36 Z-Wave Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 37 Zigbee Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 38 Others Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 39 Smart Lock Market Share by Authentication Method: Key Takeaway
Fig. 40 Smart Lock Market, by Authentication Method: Market Share, 2022 & 2030
Fig. 41 Keypad Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 42 Card Key Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 43 Touch Based Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 44 Key Fob Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 45 Smartphone Based Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 46 Biometric Market Estimates & Forcasts, 2018 - 2030 (Revenue, USD Million, Thousand Units)
Fig. 47 Smart Lock Market Revenue, by Region, 2022 & 2030 (USD Million, Thousand Units)
Fig. 48 Regional Marketplace: Key Takeaways
Fig. 49 Regional Marketplace: Key Takeaways
Fig. 50 North America Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 51 U.S. Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 52 Canada Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 53 Europe Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 54 Germany Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 55 U.K. Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 56 France Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 57 Italy Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 58 BENELUX Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 59 NORDICS Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 60 Russia Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 61 Spain Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 62 Asia Pacific Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 63 China Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 64 Japan Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 65 India Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 66 South Korea Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 67 Australia Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 68 Indonesia Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 69 Latin America Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 70 Brazil Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 71 Mexico Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 72 Argentina Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 73 Middle East and Africa Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 74 UAE Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 75 Saudi Arabia Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 76 Egypt Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 77 South Africa Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 78 Nigeria Smart Lock Market Estimates and Forecasts, 2018 - 2030 (USD Million, Thousand Units)
Fig. 79 Key Company Categorization
Fig. 80 Company Market Positioning
Fig. 81 Key Company Market Share Analysis, 2023
Fig. 82 Strategic FrameworkMarket Segmentation
- Smart Lock Type Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Smart Lock Application Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Smart Lock Communication Protocol Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Smart Lock Authentication Method Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Smart Lock Regional Outlook (Revenue, USD Million, Volume, Thousand Units; 2018 - 2030)
- North America
- North America Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- North America Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- North America Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- North America Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- U.S.
- U.S. Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- U.S. Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- U.S. Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- U.S. Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- U.S. Smart Lock Market, By Type
- Canada
- Canada Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Canada Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Canada Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Canada Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Canada Smart Lock Market, By Type
- North America Smart Lock Market, By Type
- Europe
- Europe Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Europe Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Europe Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Europe Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Germany
- Germany Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Germany Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Germany Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Germany Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Germany Smart Lock Market, By Type
- U.K.
- U.K. Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- U.K. Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- U.K. Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- U.K. Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- U.K. Smart Lock Market, By Type
- France
- France Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- France Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- France Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- France Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- France Smart Lock Market, By Type
- Italy
- Italy Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Italy Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Italy Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Italy Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Italy Smart Lock Market, By Type
- Spain
- Spain Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Spain Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Spain Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Spain Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Spain Smart Lock Market, By Type
- BENELUX
- BENELUX Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- BENELUX Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- BENELUX Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- BENELUX Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- BENELUX Smart Lock Market, By Type
- NORDICS
- NORDICS Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- NORDICS Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- NORDICS Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- NORDICS Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- NORDICS Smart Lock Market, By Type
- Russia
- Russia Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Russia Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Russia Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Russia Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Russia Smart Lock Market, By Type
- Europe Smart Lock Market, By Type
- Asia Pacific
- Asia Pacific Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Asia Pacific Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Asia Pacific Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Asia Pacific Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- China
- China Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- China Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- China Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- China Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- China Smart Lock Market, By Type
- Japan
- Japan Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Japan Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Japan Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Japan Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Japan Smart Lock Market, By Type
- India
- India Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- India Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- India Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- India Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- India Smart Lock Market, By Type
- South Korea
- South Korea Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- South Korea Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- South Korea Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- South Korea Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- South Korea Smart Lock Market, By Type
- Australia
- Australia Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Australia Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Australia Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Australia Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Australia Smart Lock Market, By Type
- Indonesia
- Indonesia Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Indonesia Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Indonesia Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Indonesia Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Indonesia Smart Lock Market, By Type
- Asia Pacific Smart Lock Market, By Type
- Latin America
- Latin America Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Latin America Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Latin America Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Latin America Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Brazil
- Brazil Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Brazil Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Brazil Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Brazil Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Brazil Smart Lock Market, By Type
- Mexico
- Mexico Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Mexico Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Mexico Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Mexico Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Mexico Smart Lock Market, By Type
- Argentina
- Argentina Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Argentina Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Argentina Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Argentina Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Argentina Smart Lock Market, By Type
- Latin America Smart Lock Market, By Type
- MEA
- Middle East and Africa Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Middle East and Africa Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Hospitality
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Middle East and Africa Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Middle East and Africa Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- UAE
- UAE Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- UAE Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- UAE Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- UAE Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- UAE Smart Lock Market, By Type
- Saudi Arabia
- Saudi Arabia Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- Saudi Arabia Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- Saudi Arabia Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- Saudi Arabia Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- Saudi Arabia Smart Lock Market, By Type
- South Africa
- South Africa Smart Lock Market, By Type
- Deadbolt
- Level Handlers
- Padlock
- Server Locks & Latches
- Knob Locks
- Others
- South Africa Smart Lock Market, By Application
- Residential
- Individual Household
- Commonhold
- Commercial
- Hospitality
- Healthcare
- Banking & Financial Institutes
- Enterprise
- Critical Infrastructure
- Educational Institution
- Industrial
- Manufacturing
- Energy & Utilities
- Oil & Gas
- Institutional & Government
- Transportation & Logistics
- Others
- Residential
- South Africa Smart Lock Market, By Communication Protocol
- Bluetooth
- Wi-Fi
- Z-Wave
- Zigbee
- Others
- South Africa Smart Lock Market, By Authentication Method
- Keypad
- Card Key
- Touch Based
- Key Fob
- Smartphone Based
- Biometric
- South Africa Smart Lock Market, By Type
- Middle East and Africa Smart Lock Market, By Type
- North America
Smart LockMarket Dynamics
Growing Preference For Smart Lock Ecosystems
Smart locks have become an essential component of smart home systems, enabling users to manage various smart devices, including locks, via smartphones, tablets, and other smart gadgets. These locks are seamlessly integrated into smart home ecosystems, allowing for convenient control and synchronization of multiple devices with a single command.The global smart lock market is expected to grow significantly in the coming years due to the increasing adoption of smart home platforms by urban households. The market is expected to expand at a compound annual growth rate (CAGR) of 16-19.6% from 2023 to 2033, reaching a valuation of USD 22.06 billion by the end of 2033. The residential application segment is expected to hold the largest market share due to the growing need for advanced security solutions. Trusted smart lock specialists, such as August Homes and Kwikset, already offer a broad portfolio of smart locks. Innovative products, such as Knocki, an intelligent device that allows controlling home systems using non-acoustic sensors, are expected to witness significant growth in line with the growing preference for smart home platforms. The company is already in the process of striking collaborations and alliances with various automotive brands and home furnishing companies to incorporate its technology into various things, such as cars and hospital beds. Major players, such as Amazon, Apple, and Google, offer key pieces of hardware that allow their platforms to do more in your home.
Increasing Smartphone Penetration And Continued Rollout Of High-Speed Internet Networks
One of the key factors contributing to the growth of the smart lock market is the ability of smart locks to be paired with smartphones and accessed through Wi-Fi. This feature is driven by the increasing smartphone penetration, rising levels of disposable income, and growing awareness about connected devices. The development of mobile apps to integrate day-to-day functions, particularly in the residential, hospitality, commercial, government, retail, and other sectors, bodes well for the growth of the smart lock market. This growth of the market is further anticipated to fueled by the reducing cost of mobile broadband communications, development low-power internet procedures as well as the aggressive rollout of cloud infrastructure and high-speed data networks on constant basis. Country’s overall economy is driven by the penetration of the smartphone and internet penetration. Access to the internet and smartphone ownership is increasingly linked to improved economic outcomes, especially in developing economies. As the population in these economies becomes more educated and the middle-class income level rises, the use of mobile technologies and the internet is expected to grow significantly over the coming years. This growth is supported by studies that have found a positive impact of internet-enabled technologies on economic activity and income, particularly in developing country contexts.
Market Restraint Analysis
Technological Challenges And Potential Vulnerabilities
The technological issues related to smart locking system and smart home devices have not been completely rectified as these technologies are still in their developing phase. There are many reasons that make the user change the devices before gaining entry. One of the reason is the battery of the lock getting discharged. In the same way, these smart lock are dependent on internet connectivity or may not allow for seamless remote access and control otherwise. In a smart home or commercial setting, the integration of various network devices and systems to offer seamless functionality can present several challenges. These challenges include licensing and legality issues related to the distinct components required to operate in unison, connection and response time concerns, security vulnerabilities, integration with other smart home devices, remote monitoring and access control capabilities, and compatibility with existing systems.
What Does This Report Include?
This section will provide insights into the contents included in this smart lock market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Smart lock market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Smart lock market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
Research Methodology
A three-pronged approach was followed for deducing the smart lock market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for smart lock market to gather the most reliable and current information possible.
- We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
- We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
- We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
- We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
- We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of smart lock market data depending on the type of information we’re trying to uncover in our research.
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Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
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Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
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Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
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Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
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Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
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Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
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This step also entails the finalization of the report scope and data representation pattern.
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Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
Smart Lock Market Categorization:
The smart lock market was categorized into three segments, namely type (Deadbolt, Lever Handles, Padlock), application (Residential, Hospitality, Enterprise, Critical Infrastructure) and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
Segment Market Methodology:
The smart lock market was segmented into type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Market research approaches: Bottom-up
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Demand estimation of each product across countries/regions summed up to from the total market.
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Variable analysis for demand forecast.
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Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
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Primary interviews for data revalidation and insight collection.
Market research approaches: Top-down
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Used extensively for new product forecasting or analyzing penetration levels.
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Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
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Primary interviews and vendor-based primary research for variable impact analysis.
Market research approaches: Combined
- This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.
Regional Market Methodology:
The smart lock market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; South Korea; Japan; India; Australia; Indonesia; Brazil; Mexico; Argentina; UAE; Saudi Arabia; Egypt; South Africa; Nigeria.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
Smart lock market companies & financials:
The smart lock market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
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August Home, Inc. (ASSA ABLOY) - August Home Inc. (ASSA ABLOY) is a U.S. company established in 2012 with 51-100 employees. The company operates in various fields, including security, home automation, and the Internet of Things (IoT). The company specializes in smart locks that offer various methods of unlocking doors, such as through smartphones, NFC cards, passcodes, fingerprints, or keys.
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Avent Security - Established in 2013, Avent security caters to different verticals which includes fingerprint door lock, password door lock, and RF card hotel lock, along with OEM services.
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Cansec Systems Ltd - The company operates in the production of biometrics and keypad access control systems, innovative proximity detection solutions, smart locks, and security management software.
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HavenLock, Inc. - The company designs and manufactures preventive security products for military-grade as well as home integration.
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Kwikset (Spectrum Brands Holdings, Inc.) - The company’s key product verticals include light commercial locks, electronic locks, knobs, lever handle locks, deadbolt locks, and handle sets.
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MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY) - The company’s key product verticals include digital residential solutions, commercial access controls, key platforms, cylinders, padlocks, locksets, industrial locks, key management, Mul-T-Lock vehicle protection, and key cutting machines.
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Schlage (Allegion Plc) - The company's key product verticals include deadbolts, knobs, levers, handle sets, keypads, connected devices, touchscreens, Bluetooth-enabled locks, and other accessories.
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Zigbang Co., Ltd. (Previously Samsung SDS) - The company caters to smart homes and smart doorlocks, including solutions for real time monitoring of energy consumption, security and emergency alarm, remote control access for smart devices, remote video calls with visitors, and family access care solutions among others.
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Sentrilock, LLC - The company caters to different verticals, such as residential real estate, property management, facility management, and emergency services.
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Smart Locking Logic Proprietary Limited - The company's key verticals include access management, monitoring and associated products in Telecommunication and Utilities, cash management in Banking, cargo protection in the logistics industry, and secure examination management in Education.
Value chain-based sizing & forecasting
Supply Side Estimates
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Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
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Segment revenue determination via variable analysis and penetration modeling.
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Competitive benchmarking to identify market leaders and their collective revenue shares.
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Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
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Identifying parent markets and ancillary markets
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Segment penetration analysis to obtain pertinent
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revenue/volume
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Heuristic forecasting with the help of subject matter experts
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Forecasting via variable analysis
Smart Lock Market Report Objectives:
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Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
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Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
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Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
Smart Lock Market Report Assumptions:
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The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
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The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
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We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
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All market estimates and forecasts have been validated through primary interviews with the key industry participants.
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Inflation has not been accounted for to estimate and forecast the market.
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Numbers may not add up due to rounding off.
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Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
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Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
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Latin America includes Central American countries and the South American continent
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Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
Primary Research
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
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Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
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Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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