Latin America Smart Lock Market Size & Outlook, 2023-2030

The smart lock market in Latin America is expected to reach a projected revenue of US$ 346.6 million by 2030. A compound annual growth rate of 23.8% is expected of Latin America smart lock market from 2024 to 2030.

Revenue, 2023 (US$M)
$77.8
Forecast, 2030 (US$M)
$346.6
CAGR, 2024 - 2030
23.8%
Report Coverage
Latin America

Latin America smart lock market highlights

  • The Latin America smart lock market generated a revenue of USD 77.8 million in 2023.
  • The market is expected to grow at a CAGR of 23.8% 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, Argentina is expected to register the highest CAGR from 2024 to 2030.

Latin America data book summary

Market revenue in 2023USD 77.8 million
Market revenue in 2030USD 346.6 million
Growth rate23.8% (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, Latin America region accounted for 3.3% 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 Companies

Name Profile # Employees HQ Website

Latin America 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 44.6% in 2023. Horizon Databook has segmented the Latin America smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.


  • Latin America Smart Lock Type Outlook (Revenue, USD Million, 2018-2030)
    • Deadbolt
    • Lever Handles
    • Padlock
    • Others
  • Latin America Smart Lock Application Outlook (Revenue, USD Million, 2018-2030)
    • Residential
    • Hospitality
    • Enterprise
    • Critical Infrastructure
    • Others

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Target buyers of Latin America smart lock market databook

  • Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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

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

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

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