Nigeria Smart Lock Market Size & Outlook, 2023-2030
Nigeria smart lock market, 2018-2030 (US$M)
Related Markets
Nigeria smart lock market highlights
- The Nigeria smart lock market generated a revenue of USD 3.5 million in 2023 and is expected to reach USD 14.1 million by 2030.
- The Nigeria market is expected to grow at a CAGR of 22% 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 3.5 million |
| Market revenue in 2030 | USD 14.1 million |
| Growth rate | 22% (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, Nigeria accounted for 0.2% 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 Middle East & Africa, Saudi Arabia smart lock market is projected to lead the regional market in terms of revenue in 2030.
- Nigeria is the fastest growing regional market in Middle East & Africa and is projected to reach USD 14.1 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Nigeria 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 42.86% in 2023. Horizon Databook has segmented the Nigeria smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
Nigeria is expected to grow at a CAGR of 22.0% during the forecast period. This growth is attributed to the rising crime rates in the country, as many homeowners, along with non-residential building owners, are looking for ways to increase security for their respective properties.
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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 Nigeria smart lock market , including forecasts for subscribers. This country databook contains high-level insights into Nigeria smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Nigeria smart lock market size, by type, 2018-2030 (US$M)
Nigeria Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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