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. 

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 of the 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.

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.

Research Methodology

The market study of the US Smart Lock market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the electronic and IT industry, ICT (Information and Communication Technology) and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. The US  Smart Lock Market Research and Analysis by Communication Protocol

2. The US  Smart Lock Market Research and Analysis by Application

3. The US  Smart Lock Market Research and Analysis by Type

The Report Covers

• Comprehensive research methodology of the US Smart Lock market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US Smart Lock market.
• Insights about market determinants which are stimulating the US Smart Lock market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.