Europe Smart Lock Market Size & Outlook, 2023-2030

The smart lock market in Europe is expected to reach a projected revenue of US$ 2,005.7 million by 2030. A compound annual growth rate of 18.3% is expected of Europe smart lock market from 2024 to 2030.
Revenue, 2023 (US$M)
$618.2
Forecast, 2030 (US$M)
$2,005.7
CAGR, 2024 - 2030
18.3%
Report Coverage
Europe

Europe smart lock market highlights

  • The Europe smart lock market generated a revenue of USD 618.2 million in 2023.
  • The market is expected to grow at a CAGR of 18.3% 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, Nordic Countries is expected to register the highest CAGR from 2024 to 2030.


Europe data book summary

Market revenue in 2023USD 618.2 million
Market revenue in 2030USD 2,005.7 million
Growth rate18.3% (CAGR from 2023 to 2030)
Largest segmentDeadbolt
Fastest growing segmentLever Handles
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationDeadbolt, Lever Handles, Padlock
Key market players worldwideFortune 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, Europe region accounted for 26.6% 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 Companies

Name Profile # Employees HQ Website

Europe 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 44.29% 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.

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Target buyers of Europe smart lock market databook

  • Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • 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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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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Europe smart lock market size, by country, 2018-2030 (US$M)

Europe Smart Lock Market Outlook Share, 2023 & 2030 (US$M)

Europe smart lock market size, by country, 2018-2030 (US$M)

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