India Smart Lock Market Size & Outlook, 2023-2030
India smart lock market, 2018-2030 (US$M)
Related Markets
India smart lock market highlights
- The India smart lock market generated a revenue of USD 42.4 million in 2023 and is expected to reach USD 217.1 million by 2030.
- The India market is expected to grow at a CAGR of 26.3% 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.
Smart lock market data book summary
| Market revenue in 2023 | USD 42.4 million |
| Market revenue in 2030 | USD 217.1 million |
| Growth rate | 26.3% (CAGR from 2023 to 2030) |
| Largest segment | Deadbolt |
| Fastest growing segment | Lever Handles |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 1.8% of the global smart lock market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China smart lock market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 159.0 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India 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 44.81% in 2023. Horizon Databook has segmented the India smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
India is anticipated to witness a CAGR of 26.3% during 2023 to 2030 period. This can be accredited to the increasing awareness and adoption of smart home technology in the country.
Moreover, the rising crime rates in different cities in the region are pushing people towards more advanced home security. This, in turn, is expected to drive the market growth further.
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Target buyers of India 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 country-level data and insights on the India smart lock market , including forecasts for subscribers. This country databook contains high-level insights into India smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India smart lock market size, by type, 2018-2030 (US$M)
India Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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