The US Smart Lock is anticipated to grow at a CAGR 10.4% during the forecast period. The US smart lock market has a significant potential growth due to adoption of smart homes and increasing safety concerns coupled with increasing crime rates. According to the World Bank, United States is the largest economy in the World. The GDP of US was estimated to be about $18.5 trillion in the year 2016. The well-established economy of the country laid the ground for growth of the smart locks market.

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The smart locks can be operated by the smartphone with the help of electronic key. Smartphone can be connected by the different technologies such as Bluetooth and Wi-Fi. Through application on smartphone the user can send and receive the electronic key on smartphone. The increasing smartphone penetration is contributing in the growth ofthe smart locks market in the US. The increasing crime rate is increasing the need of security and surveillance devices in the nation. The US is facing an increasing crime rate and in many of the nation’s largest cities saw increase in homicide, robbery and aggravated assault. The country is facing high violent crime rate, robbery and burglary rate..

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The major key market players that are contributing in the growth of the market in this market include Kwikset Corp, Onity Inc, Candy House Inc., Schlage and among others. These companies are contributing in the market by introducing new products and development of the new technologies. For instance, in May 2018, schlage announced an enhancement to its Internet of Things (IoT) portfolio: compatibility with Google Home for the critically-acclaimed Schlage Sense Smart Deadbolt. In May 2018, the company announced compatibility with Amazon Alexa voice unlocking for the critically-acclaimed Schlage Sense Smart Deadbolt and Schlage Connect Touch screen Deadbolt.

 Market Segmentation

The US Smart Lock Market by Communication Protocol

• Bluetooth
• Wi-Fi
• Others

The US Smart Lock Market by Application

• Residential
• Government
• Commercial

The US Smart Lock Market by Type

• Padlocks
• Lever Handles
• Deadbolts
• Others

Company Profiles

• August Smart lock
• Candy House Inc.
• Cansec Systems Ltd.
• HavenLock Inc.
• Kwikset Corp.
• Master locks Co.
• MIWA Lock Co., Ltd.
• Onity Inc.
• Schlage
• Sentrilock LLC
• Spectrum Brands Holdings, Inc.
• UniKey Technologies

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