Latin America Smart Lock Market Size & Outlook, 2023-2030
Latin America smart lock market, 2018-2030 (US$M)
Related Markets
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 2023 | USD 77.8 million |
| Market revenue in 2030 | USD 346.6 million |
| Growth rate | 23.8% (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, 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 Scope
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.
For instance, in January 2022, the Ministry of Public Works invested USD 91 billion in Argentina. This includes the execution of over 3,000 new infrastructure projects and works across the region as part of the Plan Argentina Hace.
As of January 2022, over 1,500 projects are in the planning stage, over 1,100 are in progress, and over 400 projects have been completed. This, in turn, is expected to boost the market growth over the forecast period.
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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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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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)
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