Market Share of Europe Smart Lock Industry
The European smart lock market is moderately competitive. With numerous global and regional players entering and expanding their presence, the market competition is anticipated to grow significantly. To remain competitive, companies emphasize frequent innovations and technological upgrades. Additionally, several companies emphasize mergers and acquisitions, as well as partnerships, to strengthen their market positions. Some key players include Assa Abloy, Allegion PLC, Eufy, Sentrilock LLC, and ZKTeco Co Ltd.
• July 2024 - ZKTeco introduced the SL01-T430H, a mortise-style door lock with a lever handle. This advanced lock boasts a fingerprint sensor and enables remote locking and unlocking through mobile devices. Once connected to Wi-Fi, users can effortlessly manage their door via the ZSmart app. The app allows for remote locking and unlocking and offers features like viewing log history, sharing temporary visitor passcodes, activating the tamper alarm, and deactivating the door alarm. Furthermore, users can unlock the door using simple voice commands when integrated with compatible devices like Amazon Echo or Google Home.
• May 2024 - Allegion launched the Schlage XE360 Series Wireless Locks, an electronic lock portfolio tailored to the multifamily market at a competitive price. The XE360 Series represents Schlage's next generation of cutting-edge electronic locks. It integrates with various design aesthetics, boasting popular finishes and contemporary lever styles. It frees property managers from physically updating access rights at the lock, functioning in an offline or No-Tour setting.
Europe Smart Lock Market Leaders
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ASSA ABLOY
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Allegion PLC
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Eufy
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Sentrilock LLC
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ZKTeco Co Ltd
*Disclaimer: Major Players sorted in no particular order
