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Smart Door Lock Market size was valued at USD 1.79 Billion in 2022 and is poised to grow from USD 2.14 Billion in 2023 to USD 8.90 Billion by 2031, at a CAGR of 19.50% during the forecast period (2024-2031).

The Smart Door Lock market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Smart Door Locks. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'ASSA ABLOY (Sweden)', 'Allegion (Ireland)', 'Samsung SDS (South Korea)', 'Honeywell International Inc. (United States)', 'Dormakaba (Switzerland)', 'Salto Systems (Spain)', 'August Home (United States)', 'Kwikset (United States)', 'Schlage (United States)', 'Mul-T-Lock (Israel)', 'Yale (United Kingdom)', 'Kaba Group (Switzerland)', 'Hikvision (China)', 'Panasonic Corporation (Japan)', 'Cansec Systems Ltd. (Canada)', 'Guangdong Be-Tech Security Systems Ltd. (China)', 'MIWA Lock Co., Ltd. (Japan)', 'Guangdong Archie Hardware Co., Ltd. (China)', 'Lockitron (United States)', 'Poly-Control (Denmark)'

One key driver of the smart door lock market is the growing demand for enhanced home security solutions. As homeowners increasingly prioritize safety and convenience, smart door locks provide an advanced and convenient way to secure homes. These locks offer features such as keyless entry, remote access control, and integration with smart home systems, thereby enhancing security and providing peace of mind to homeowners. The increasing adoption of smart home automation and the rising trend of connected homes further contribute to the market growth.

One key market trend in the Smart Door Lock market is the increasing adoption of smart home technology and the growing emphasis on home security. Smart door locks offer advanced features such as keyless entry, remote access control, and integration with other smart home devices. With the rising popularity of smart home systems, homeowners are looking for convenient and secure ways to protect their properties. Smart door locks provide enhanced security measures, allowing users to monitor and control access to their homes remotely.

One dominant region in the smart door lock market is North America. The region has witnessed significant adoption of smart home technologies and a growing awareness of the benefits of smart door locks. Factors such as high disposable income, technological advancements, and a well-established infrastructure for home automation contribute to the dominance of North America in the market. The presence of major smart home technology companies and the growing trend of connected homes further support the market's growth in the region.

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Global Smart Door Lock Market

Product ID: SQMIG45J2117