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Smart Lock Market size is set to grow by USD 2.31 billion from 2024-2028, Growing number of smart cities worldwide to boost the market growth, Technavio

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NEW YORK, June 26, 2024 /PRNewswire/ — The global smart lock market size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 13.47% during the forecast period. Growing number of smart cities worldwide is driving market growth, with a trend towards integration with voice assistants and smart home ecosystems. However, growing security and privacy threat in smart locks poses a challenge. Key market players include Allegion Public Ltd. Co., ASSA ABLOY AB, Be Tech Asia Ltd., Carrier Global Corp., Davcor Group Pty Ltd., Dormakaba Holding AG, Dorsetindia.com, Honeywell International Inc., I Leaf Buildpro Pvt. Ltd., iF International Forum Design GmbH, iLockey, Jainson Locks, Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., SOLITY Co Ltd., Spectrum Brands Holdings Inc., Tekno Electro Solutions Pvt. Ltd., Vivint Inc., and Yale India.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (WiFi, Bluetooth, Zigbee, and Z-wave), End-user (Commercial and Residential), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Allegion Public Ltd. Co., ASSA ABLOY AB, Be Tech Asia Ltd., Carrier Global Corp., Davcor Group Pty Ltd., Dormakaba Holding AG, Dorsetindia.com, Honeywell International Inc., I Leaf Buildpro Pvt. Ltd., iF International Forum Design GmbH, iLockey, Jainson Locks, Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., SOLITY Co Ltd., Spectrum Brands Holdings Inc., Tekno Electro Solutions Pvt. Ltd., Vivint Inc., and Yale India

Key Market Trends Fueling Growth

The integration of smart locks with voice assistants and smart home ecosystems is a significant trend in the global smart lock market. This feature allows users to control their locks using basic voice commands, enhancing accessibility and convenience. Additionally, automation and synchronization with other connected devices, such as lights, thermostats, and security systems, are made possible. This trend is expected to drive market growth by creating a seamless user experience within commercial and residential buildings. 

The Smart Lock market is experiencing significant growth with homes and businesses adopting this technology for enhanced security. Smart Homes are a trend, and smart locks are an essential component. Biometric authentication, such as fingerprint recognition, is becoming popular. Google and Apple are key players in this market. Smart locks can be controlled through apps, allowing remote access and convenience. Some smart locks use Bluetooth technology for connectivity. They can also be integrated with other home automation systems. Smart locks offer convenience, security, and compatibility with various devices. The future of smart locks lies in advanced features like voice recognition and facial recognition. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The global smart lock market confronts security concerns as potential vulnerabilities in these devices may allow unauthorized access or data interception. Weak encryption techniques and outdated firmware pose significant risks. To mitigate these threats, manufacturers must prioritize robust security measures and regular firmware updates, collaborating with cybersecurity experts when necessary. These efforts are crucial to safeguard customer privacy and confidence, ensuring the market’s continued growth.The Smart Lock market is experiencing significant growth due to increasing adoption in both residential and commercial sectors. However, several challenges persist. Thingness and Machine Learning are key technologies driving the market, but security concerns remain a major challenge. The need for encryption and secure communication protocols is crucial to ensure data privacy and prevent unauthorized access. Additionally, cost and compatibility issues with existing door hardware are hindering widespread adoption. Smart Home and IoT platforms are also essential for seamless integration and interoperability. Regulations and standards, such as Zigbee and Z-Wave, are necessary to ensure consistency and reliability. Overall, addressing these challenges will be vital for the continued growth and success of the Smart Lock market.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This smart lock market report extensively covers market segmentation by

Technology 1.1 WiFi1.2 Bluetooth1.3 Zigbee1.4 Z-waveEnd-user 2.1 Commercial2.2 ResidentialGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 WiFi- The Smart Lock market is experiencing significant growth due to its convenience and security benefits. Businesses and consumers alike are adopting smart locks at an impressive rate. These locks offer keyless entry, remote access, and integration with other smart home systems. They provide enhanced security features such as automatic locking and unlocking, real-time alerts, and the ability to grant temporary access to guests. Smart locks are a cost-effective investment for businesses looking to improve security and convenience, and for individuals seeking peace of mind in their homes.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Smart Lock Market is experiencing significant growth due to the increasing adoption of home automation and smart homes. Biometric authentication and keyless entry systems are becoming increasingly popular, leveraging IoT technology and Wi-Fi communication protocols for seamless integration. Artificial Intelligence and Machine Learning are also being employed to enhance security features and improve user experience. The smart lock ecosystem includes various technologies such as RFID locks, IC cards, and Bluetooth. Big Data is being utilized to analyze usage patterns and provide valuable insights. Kaadas, Masterlock, Yale Home, August Home, Level, Schaub and Emtek, and Oberlo are some of the companies offering smart lock solutions. Safety concerns continue to be a priority, with 5G networks and advanced technologies like Google Assistant being integrated to address these issues.

Market Research Overview

The Smart Lock Market is a rapidly growing sector within the home automation industry. These advanced locks utilize technologies such as Bluetooth, Wi-Fi, and biometric authentication for enhanced security and convenience. Smart locks offer features like remote access, automatic locking, and integration with other home security systems. The market is driven by increasing consumer demand for smart home solutions and the ongoing digitization of home security systems. Additionally, governments and regulatory bodies are promoting the adoption of smart locks for enhanced security and energy efficiency. The market is segmented based on technology, application, and region. Smart locks are used in both residential and commercial applications, and their adoption is expected to increase significantly in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyWiFiBluetoothZigbeeZ-waveEnd-userCommercialResidentialGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Travelgate and Mize Announce Strategic Alliance to Launch SmartRate Integration, Boosting Booking Profitability for Global Partners

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MALLORCA, Spain and TEL AVIV, Israel, May 19, 2025 /PRNewswire/ — On the heels of ConX 2025, Travelgate’s flagship industry event kicking off next week, Travelgate, the leading Connectivity Marketplace in the travel industry, and Mize, the global leader in fintech-based travel products, are excited to announce a strategic alliance.

 

 

This collaboration brings Mize’s innovative SmartRate product to Travelgate’s extensive global network of travel partners. SmartRate maximizes margins at the booking moment by automatically securing the best available rate and transforming booking flow disruptions into profit, all without manual intervention.

This marks a significant step forward in Travelgate’s commitment to delivering value-added tools to both Buyers and Sellers on its platform. The implementation of SmartRate will enable Travelgate’s clients to maximize their margins, recover from connectivity disruptions, and secure the lowest-cost bookings in real time, all while maintaining a seamless user experience.

Optimizing Margins in Real Time

SmartRate seamlessly integrates into the booking process to automatically scan and apply the lowest available rate across the travel seller’s own inventory and Mize’s extensive Partners Network. This allows Travelgate-connected partners to unlock new revenue opportunities by:

Recovering errored bookings through smart reprocessing
Maximizing profit margins with intelligent rate scanning at the booking moment
Enhancing booking reliability through improved search performance and distribution rules
Leveraging Mize’s advanced room mapping and external source integration for expanded inventory access

“This partnership brings together the strengths of two platforms built on innovation and efficiency,” said Dor Krubiner, CEO at Mize. “We’re thrilled to collaborate with Travelgate to offer their partners a tool that not only improves operational resilience but also drives profitability with every booking.”

Reinforcing Travelgate’s Mission of Seamless Connectivity

Travelgate is trusted by hundreds of leading brands in the travel industry including Expedia, Agoda, Hotelbeds, and British Airways Holidays. By integrating SmartRate, Travelgate continues to expand its offerings to help partners simplify operations, accelerate time-to-market, and maximize performance across their connections.

“Our platform was built to remove complexity and open up opportunity,” said Pedro Camara, CEO at Travelgate. “SmartRate fits perfectly with that vision, it’s a natural addition that empowers our clients to get more out of every booking.”

Mize at ConX 2025

Mize will be sponsoring this year’s AfterX 2025, Travelgate’s annual event that brings together key players from across the travel industry. Attendees will have the opportunity to explore SmartRate in action, meet the Mize team, and discover how this powerful integration can transform booking profitability and operational resilience across platforms.

As part of the event, Mize CEO Dor Krubiner will be featured as a speaker on one of the top keynote panels: The New Wave of Growth Strategies in B2B Travel, sharing insights on innovation, automation, and the future of travel tech.

About Travelgate

Travelgate, part of Travelsoft Group, is a next-generation Connectivity Marketplace that enables travel agencies, OTAs, Bedbanks, DMCs, and tour operators to connect seamlessly through one single API. Buyers gain real-time access to a broad range of Sellers with one integration, while Sellers benefit from exposure to a vast global distribution network.

Through tools like the Travelgate APP, users can manage connections, monitor performance, generate smart reports, and get instant support—all in one centralized, intuitive platform.

For more information, visit https://www.travelgate.com.

About Mize

Mize is a global leader in fintech-based solutions, offering AI-driven tools that create extra profit for the hotel booking industry through its fully automated proprietary technology and has generated hundreds of millions of dollars in revenue for its partners across its suite of products. With a clear focus on innovation and customer success, Mize serves over 250 clients worldwide, helping them optimize performance and achieve their goals.

For more information, visit https://mize.tech.

Photo: https://mma.prnewswire.com/media/2690586/Travelgate_Mize.jpg

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Ishan Technologies selects AMD to Power Sovereign Cloud Infrastructure

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 Supporting India’s digital infrastructure push with secure, scalable computing for HPC and AI workloads

MUMBAI, India, May 19, 2025 /PRNewswire/ — Ishan Technologies, a leading ICT and digital connectivity platform, has chosen AMD to power its Tier-3 Mumbai Data Center with 4th Gen AMD EPYC™ processors. This collaboration strengthens India’s cloud and AI-ready infrastructure, delivering high-performance, secure, and scalable solutions. By integrating cutting-edge AMD EPYC processors, Ishan Cloud empowers enterprises across BFSI, ITeS, and manufacturing industries, as well as GCCs and government organizations, to meet India’s data localization requirements and drive AI-led digital transformation.

As cloud adoption accelerates, enterprises increasingly require resilient and compliant digital infrastructure capable of supporting mission-critical applications, AI-driven workloads, and edge computing. Ishan DC 1 integrates high-density computing and energy-efficient architecture, ensuring superior performance, reduced operational costs, and adherence to regulatory requirements. It is engineered to support workloads spanning artificial intelligence (AI), machine learning (ML), and low-latency use cases crucial to enterprise digital transformation.

Powered by 4th Gen AMD EPYC processors, Ishan Cloud delivers scalable, energy-efficient computing for data-intensive workloads. The high core density and performance efficiency of these processors enable seamless execution of AI, real-time analytics, and high-frequency financial transactions. By optimizing performance per watt, Ishan Cloud ensures lower operational costs while maintaining high throughput and reliability. This makes it an ideal choice for enterprises looking to enhance computing performance without compromising on efficiency or compliance.

Mr. Pinkesh Kotecha, CMD, Ishan Technologies, said, “Cloud infrastructure is at the core of India’s digital transformation, and enterprises today demand more than just scalability – they need security, compliance, and high-performance compute. Through our collaboration with AMD, Ishan Cloud delivers cutting-edge cloud solutions that enhance efficiency while meeting India’s data sovereignty requirements.”

Vinay Sinha, Corporate Vice President, AMD India, added, “AMD is powering the future of cloud infrastructure in India with high-performance, energy-efficient computing. Our 4th Gen AMD EPYC processors equip Ishan Cloud with the scalability and security features needed for AI, analytics, and mission-critical workloads. As India accelerates its digital transformation, our leadership in high-performance computing is enabling data centers like Ishan’s to deliver secure, scalable, and future-ready cloud solutions – supporting enterprises in building AI-driven, compliant, and high-performance ecosystems.”

With rising cloud adoption across regulated industries, Ishan Cloud differentiates itself by offering:

Cloud-enabled SD-WAN & SASE for secure, seamless connectivityNOC & SOC as a Service for real-time monitoring and threat detectionSupport for edge applications to power AI-driven and low-latency workloads

As India strengthens its focus on data localization and AI-driven innovation, Ishan Cloud is empowering businesses with greater control, security, and efficiency, supporting the nation’s rapid digital and economic growth.

About Ishan Technologies

Ishan Technologies is a leading ICT and digital connectivity platform with a Pan-India presence, delivering cloud, network, cybersecurity, and communication solutions. With 100+ offices and 500+ edge and PoP locations, it provides secure and scalable digital infrastructure to enterprises, BFSI, ITES, and government organizations. With over 20 years in system integration and ISP solutions, Ishan is CMMI Level 3 appraised by KPMG for quality and assurance, reinforcing its commitment to excellence in service delivery.

AMD, the AMD Arrow logo, EPYC, and combinations thereof are trademarks of Advanced Micro Devices, Inc.

 

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New initiative delivers CPR education through ADP Mobile Solutions app to build Nation of Lifesavers™

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ADP supports American Heart Association goal to prepare more workers to respond to cardiac emergencies

DALLAS and ROSELAND, N.J., May 19, 2025 /PRNewswire/ — With more than 10,000 cardiac arrests occurring annually in U.S. workplaces1, ADP, a global technology company providing human capital management (HCM) solutions, is supporting the American Heart Association to expand CPR education across the workforce. By integrating information about Hands-Only CPR training into the ADP Mobile Solutions app, the organizations are helping millions of employees nationwide be ready to act in an emergency.

 

Cardiac arrest can happen to anyone, anywhere — and immediate CPR can double or triple a person’s chance of survival. Yet according to the American Heart Association, a global force changing the future of health of all, seven in 10 Americans say they feel powerless to act during a cardiac emergency2. Through this initiative, ADP, which pays one in six workers in the United States, is empowering its clients and associates with lifesaving education at scale.

“Increasing access to modern, accessible CPR education is critical to saving more lives from cardiac arrest,” said Nancy Brown, chief executive officer of the American Heart Association. “Through Nation of Lifesavers, we aim to double the survival rate from sudden cardiac arrest by 2030. With this support from ADP, we can bring lifesaving skills directly to the fingertips of millions of workers.”

The program, which is optional to clients, offers ADP Mobile Solutions users a simple two-step learning opportunity: watch a 60-second Hands-Only CPR video, then complete a four-question assessment. After completing the assessment, users receive a digital Nation of Lifesavers badge to recognize their commitment to helping save lives. Since piloting this feature in ADP Mobile Solutions in Fall 2024, more than 160,000 users have already engaged in the Hands-Only CPR mobile education, with the potential to reach the app’s 14 million active monthly users, as the availability expands.

“Every decision we make is centered on helping people thrive at work and in life,” said Maria Black, president and CEO of ADP. “Through technology and human-centered innovation, we are proud to support the work of the American Heart Association in building a stronger chain of survival across the workplace.”

In addition to the mobile learning, ADP is hosting in-person Hands-Only CPR and automated external defibrillator (AED) training sessions at 18 of its office locations nationwide. The company aims to educate its associates on Hands-Only CPR and AED use through over 100 sessions in 2025 and early 2026. ADP’s commitment to cardiac health extends beyond the office. For the past four years, ADP associates have also participated in American Heart Association Heart Walk events across the country to raise awareness and funds for heart health.

Hands-Only CPR, which involves chest compressions without rescue breaths, is effective for teens and adults who experience sudden cardiac arrest. Immediate action — including the use of an AED when available — can dramatically increase the chance of survival.3  However, only half of workers can locate an AED at their workplace today, according to the Association.

To learn more about how you can become part of the Nation of Lifesavers and help build a world where everyone is prepared to save a life, visit heart.org/nation.

To view media assets including videos, B-roll and images, please click here.

About ADP (NASDAQ: ADP)
Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com.

About the American Heart Association
The American Heart Association is a relentless force for a world of longer, healthier lives. Dedicated to ensuring equitable health in all communities, the organization has been a leading source of health information for more than one hundred years. Supported by more than 35 million volunteers globally, we fund groundbreaking research, advocate for the public’s health, and provide critical resources to save and improve lives affected by cardiovascular disease and stroke. By driving breakthroughs and implementing proven solutions in science, policy, and care, we work tirelessly to advance health and transform lives every day. Connect with us on heart.org, on Facebook and X or by calling 1-800-AHA-USA1.

1 American Heart Association AED Fact Sheet
2 2024 CPR Perceptions Survey, conducted for the American Heart Association. Available upon request.
3 Panchal AR, Bartos JA, Cabañas JG, Donnino MW, Drennan IR, Hirsch KG, Kudenchuk PJ, Kurz MC, Lavonas EJ, Morley PT, O’Neil BJ, Peberdy MA, Rittenberger JC, Rodriguez AJ, Sawyer KN, Berg KM; on behalf of the Adult Basic and Advanced Life Support Writing Group. Part 3: adult basic and advanced life support: 2020 American Heart Association Guidelines for Cardiopulmonary Resuscitation and Emergency Cardiovascular Care. Circulation. 2020;142(suppl 2):S366–S468. doi: 10.1161/CIR.0000000000000916

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SOURCE ADP, Inc.

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