Global Smart Lock Market Size & Outlook, 2023-2030
Global smart lock market, 2018-2030 (US$M)
Related Markets
Global smart lock market highlights
- The global smart lock market generated a revenue of USD 2,323.5 million in 2023 and is expected to reach USD 8,136.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 19.6% by 2030.
- In terms of segment, deadbolt accounted for a revenue of USD 1,034.7 million in 2023.
- Lever Handles is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,323.5 million |
| Market revenue in 2030 | USD 8,136.8 million |
| Growth rate | 19.6% (CAGR from 2023 to 2030) |
| Largest segment | Deadbolt |
| Fastest growing segment | Lever Handles |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Deadbolt, Lever Handles, Padlock |
Other key industry trends
- In terms of revenue, the North America accounted for 39.8% of the global smart lock market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 2,168.4 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global smart lock market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart lock market will help companies and investors design strategic landscapes.
Deadbolt was the largest segment with a revenue share of 44.53% in 2023. Horizon Databook has segmented the Global smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Smart Lock Type Outlook (Revenue, USD Million, 2018-2030)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Global Smart Lock Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Hospitality
- Enterprise
- Critical Infrastructure
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global smart lock market , including forecasts for subscribers. This global databook contains high-level insights into Global smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global smart lock market size, by regions, 2018-2030 (US$M)
Top 10 countries: Smart lock market size, 2023 (US$M)
Global smart lock market share, by type, 2023 & 2030 (%, US$M)
Smart lock market: Opportunity assessment by country
Global smart lock market, by region, 2023 (US$M)
| Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 443.7 | 514.1 | 592.3 | 686.9 | 797.0 | 925.1 | 1,074.1 | 1,247.7 | 1,449.8 | 1,685.1 | 1,959.1 | 2,278.0 | 2,649.3 | 16.2% |
| Europe | 276.1 | 324.2 | 378.7 | 445.5 | 524.5 | 618.2 | 729.2 | 861.1 | 1,017.8 | 1,204.1 | 1,426.0 | 1,690.4 | 2,005.7 | 18.3% |
| Asia Pacific | 222.4 | 277.3 | 343.2 | 426.8 | 530.4 | 658.6 | 817.2 | 1,013.6 | 1,256.8 | 1,557.9 | 1,930.9 | 2,393.0 | 2,965.9 | 24.0% |
| Latin America | 26.6 | 33.0 | 40.8 | 50.6 | 62.8 | 77.8 | 96.3 | 119.3 | 147.7 | 182.8 | 226.2 | 280.0 | 346.6 | 23.8% |
| MEA | 17.4 | 20.9 | 25.0 | 30.2 | 36.4 | 44.0 | 53.2 | 64.4 | 77.9 | 94.5 | 114.6 | 139.2 | 169.2 | 21.2% |
| Overall | 986.2 | 1,169.5 | 1,380.0 | 1,640.0 | 1,951.0 | 2,323.5 | 2,770.1 | 3,306.1 | 3,949.9 | 4,724.4 | 5,656.8 | 6,780.7 | 8,136.8 | 19.6% |
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