Middle East & Africa Smart Lock Market Size & Outlook
Middle East & Africa smart lock market, 2018-2030 (US$M)
Related Markets
MEA smart lock market highlights
- The MEA smart lock market generated a revenue of USD 44.0 million in 2023.
- The market is expected to grow at a CAGR of 21.2% 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, Nigeria is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 44.0 million |
| Market revenue in 2030 | USD 169.2 million |
| Growth rate | 21.2% (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, MEA region accounted for 1.9% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa 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 44.32% in 2023. Horizon Databook has segmented the Middle East & Africa smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East and Africa (MEA) region is expected to grow significantly over the forecast period. This is attributed to the growing awareness and subsequently the adoption of niche technology products across the region.
Moreover, the augmented use of smart locks in hotels, banks, among other places is expected to drive the market growth over the forecast period.
Reasons to subscribe to Middle East & Africa smart lock market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Middle East & Africa 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.).
-
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 continent-level data and insights on the Middle East & Africa smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
MEA smart lock market size, by country, 2018-2030 (US$M)
Middle East & Africa Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
