Asia Pacific Smart Lock Market Size & Outlook, 2023-2030
Asia Pacific smart lock market, 2018-2030 (US$M)
Related Markets
Asia Pacific smart lock market highlights
- The Asia Pacific smart lock market generated a revenue of USD 658.6 million in 2023.
- The market is expected to grow at a CAGR of 24% from 2024 to 2030.
- In terms of segment, deadbolt was the largest revenue generating type in 2023.
- Lever Handles is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, South Korea is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 658.6 million |
| Market revenue in 2030 | USD 2,965.9 million |
| Growth rate | 24% (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 |
| Key market players worldwide | Fortune Brands Innovations Inc, Spectrum Brands Holdings Inc, Assa Abloy AB Class B, Allegion PLC, Carrier Global Corp Ordinary Shares, Honeywell International Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 28.3% of the global smart lock market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,965.9 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific 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 44.94% in 2023. Horizon Databook has segmented the Asia Pacific smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is predicted to grow at a CAGR of 24.0% in terms of volume. The significant growth is attributed to a dramatic increase in the number of residential and commercial projects and ongoing programs of smart cities in developing countries like India.
In addition, smart home penetration across the region has seen significant growth, which plays a vital role in spreading awareness about advanced gadgets and technologies. This, in turn, is driving the market growth over the forecast period.
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Target buyers of Asia Pacific smart lock market databook
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific smart lock market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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