Market Introduction
The smart locks provide comfort in their usage along with the combination of communication technology such as Bluetooth, Wi-Fi, and NFC. The rise in usage of smartphones has become an integral part of today's routines across emerging economies, as large number of users are acquiring these smart devices to relax their daily routines, this aspect is further boosting to the growth of the smart locks market in North America region during forecast period from 2020-2027.
Market Overview and Dynamics
The North America Smart Locks market is projected to reach US$ 1,282.5 Mn by 2027 from US$ 529.7 Mn in 2019; it is expected to grow at a CAGR of 11.9% from 2020 to 2027. Increase in the number of smartphone users across the globe is further boosting the deployment of smart locks in the last few years owing to enhanced benefits such as easy user interface and convenience to the users. The ever-increasing awareness related to secure home solutions, the constant development of smart devices such as smartphones, rising disposable income of consumers, and booming internet services are some of the foremost factors driving the growth of the smart locks market. . North America region is home to a large number of manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the smart locks market growth of North America region in a negative manner for the next few quarters.
Key Market Segments
In terms of type, the deadbolt segment accounted for a larger share of the North America Smart Locks market in 2019. Bluetooth market segment held the largest share of the market, based on communication technology, in 2019.By application, residential accounted for a larger share of the North America Smart Locks market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Smart Locks market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. A few of the major companies listed in the report are Gantner Electronic GmbH, Schlage, Wyze Labs, Inc, Samsung, Honeywell International Inc, ,among others.
Reasons to buy report
- It provides understanding of the North America, Smart Locks market landscape and identifies market segments that are most likely to guarantee a strong return.
- It guides stay ahead of the race by comprehending the ever-changing competitive landscape for the North America Smart Locks market.
- It helps efficiently plan merger and acquisition, and partnership deals in the Smart Locks market by identifying market segments with the most promising probable sales
- It facilitates knowledgeable business decision-making through perceptive and comprehensive analysis of market performance of various segments pertaining to the North America Smart Lock market.
- It provides market revenue forecast of the market based on various segments for the period from 2020 to 2027.
NORTH AMERICASMART LOCKS MARKET SEGMENTATION
North America Smart Locks Market, by Type
- Padlocks
- Deadbolt
- Lever Handle
- Others
North America Smart Locks Market, by Communication Technology
- Wi-Fi
- Bluetooth
- NFC
- Others
North America Smart Locks Market, by Application
- Residential
- Commercial
- Industrial
By Country
- US
- Canada
- Mexico
Company Profiles
- Havenlock Inc
- Honeywell International Inc
- August Home
- Wyze Labs, Inc.
- Samsung
- Honeywell International Inc.
- U-tech Group Inc
- Schlage
- Gantner Electronic GmbH
North America Smart Locks Market Strategic Insights
North America Smart Locks Market Report Highlights
| Report Attribute | Details |
| Market size in 2019 | US$ 529.7 Million |
| Market Size by 2027 | US$ 1,282.5 Million |
| CAGR (2020 - 2027) | 11.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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North America Smart Locks Market Country and Regional Insights
