Nordic Countries Smart Lock Market Size & Outlook
Nordic Countries smart lock market, 2018-2030 (US$M)
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Nordic Countries smart lock market highlights
- The Nordic Countries smart lock market generated a revenue of USD 26.3 million in 2023 and is expected to reach USD 100.7 million by 2030.
- The Nordic Countries 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.
Smart lock market data book summary
| Market revenue in 2023 | USD 26.3 million |
| Market revenue in 2030 | USD 100.7 million |
| Growth rate | 21.2% (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, Nordic Countries accounted for 1.1% 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 Europe, UK smart lock market is projected to lead the regional market in terms of revenue in 2030.
- Nordic Countries is the fastest growing regional market in Europe and is projected to reach USD 100.7 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
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Nordic Countries 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 44.49% in 2023. Horizon Databook has segmented the Nordic Countries smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
The smart lock market in Nordic Countries is anticipated to grow at a CAGR of 21.2% over the forecast period from 2023 to 2030. The growing trend of automation for new homeowners is expected to drive the market growth in the region.
For instance, Nordic Semiconductor, a low-power wireless communication semiconductors company, shares their product nRF52832 Bluetooth Low Energy (Bluetooth LE) multiprotocol System-on-Chip (SoC) with eLocker, a U.K.-based smart lock company, to provide wireless connectivity along with core processing power to the lockers.
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Horizon Databook provides a detailed overview of country-level data and insights on the Nordic Countries smart lock market , including forecasts for subscribers. This country databook contains high-level insights into Nordic Countries smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Nordic Countries smart lock market size, by type, 2018-2030 (US$M)
Nordic Countries Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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