The report on the Wi-Fi-based Smart Locks Market is segmented By Type (Induction Lock, Remote Control Lock, Other), Application (Household, Commercial, Others), and Region – COVID-19 Impact Analysis and Forecast to 2026. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2021-2026.

Market Insights

The Wi-Fi-based Smart Locks Market is projected to grow from USD 1.4 billion in 2020 to USD 5.2 billion by 2026 at a CAGR of around 25.2% during the forecast period.

Key players

Some of the major players operating in the global Wi-Fi-based Smart Locks Market are-

  • August, Inc. (US)
  • Goji (US)
  • UniKey Technologies (US)
  • Yale (US)
  • Danalock (Denmark)
  • Lockitron Bolt (US)
  • LockState, Inc. (US)
  • Haven (Switzerland)
  • Sesame (Canada)
  • Kwikset (US)
  • Ola Locks (China).

Report Features

The report provides critical insights into the market dynamics that enables strategic decision making that is critical to the growth of the existing players as well as those planning to enter the market. This report offers an improvised approach to consolidate the growth decisions by covering the following features –

  • Market structure – as it reflects the value chain of different commodities in the market.
  • Drivers and Constraints – as both can affect any element of the marketing mix — product, budget, and place, etc.
  • Market Forecast – a part of the decision-making process. This helps users with facts regarding projected sales dimensions, costs, market shares, and other areas of planning.
  • Competitive landscape and dynamics: The user can determine the strengths and gaps. The information mentioned here will work towards enhancing the brand’s strategy.
  • Growth strategies – allowing a small business to survive unexpected changes, and to grow into a bigger entity, and gain a greater competitive advantage.

Market Dynamics

The report covers maximum factors that affect the Wi-Fi-based Smart Locks Market. According to this report,

The growth of the Wi-Fi-based smart locks market is primarily driven by widespread product use in the household and industrial sectors. Expanding the building and construction industry with rising investment in the development of smart cities is likely to drive the growth of the Wi-Fi-based smart locks market at a significant rate during the review period. In addition to this, increasing demand for smart locks in developing countries is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segment Analysis

Application Trends

By application, the Wi-Fi-based smart locks market has been bifurcated into the household, commercial, and others. Under these, the household accounted for the largest market share in 2020 and is projected to register significant growth during the review period. This can be attributed to the increasing construction of smart houses across geographies.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high adoption rate of advanced technologies coupled with the presence of key market players such as August, Inc. (US) and Goji (US). The market growth in the Asia-Pacific region is expected to be driven by increasing emphasis on the development of smart cities in developing countries particularly China and India.

Critical Questions Answered in the Report

  • What are the key trends in the global Wi-Fi-based Smart Locks Market?
  • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
  • What is the impact of COVID-19 on global Wi-Fi-based Smart Locks Market?
  • What are the key strategies adopted by the major vendors to lead in the global Wi-Fi-based Smart Locks Market?
  • What is the market share of the top vendors?

Wish to know more about the study? Click here to get a free sample.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at +1-313-307-4176.

About Us –

Stratview Research is a leading global Market Research firm providing expert research solutions, trusted by clients worldwide. This firm possesses a global presence to enable current market information using the most up-to-date methodology, best-in-class research techniques, and cost-effective approaches. It also surveys clients in several countries to provide you with the most comprehensive illustration of global trends and behaviours.

Contact –