Market revenue in 2023 | USD 618.2 million |
Market revenue in 2030 | USD 2,005.7 million |
Growth rate | 18.3% (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 |
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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 44.29% in 2023. Horizon Databook has segmented the Europe smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is expected to observe a considerable rise in the product demand. The demand is expected to reach 15,006.9 thousand units by 2030, with a CAGR of 21.3% over the forecast period. This is attributed to the high adoption rate of smart technologies across the region.
Moreover, European consumers are increasingly interested in home automation and security, and smart locks offer a convenient and secure way to manage access to their homes, driving the market growth across the region.
In addition, several cities in Europe are densely populated and cost premium to the users. Smart locks offer a convenient way to manage access to small apartments and shared living spaces, which is fueling the market growth further.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Europe smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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