Nordic Countries Smart Lock Market Size & Outlook

The smart lock market in Nordic Countries is expected to reach a projected revenue of US$ 100.7 million by 2030. A compound annual growth rate of 21.2% is expected of Nordic Countries smart lock market from 2024 to 2030.

Revenue, 2023 (US$M)
$26.3
Forecast, 2030 (US$M)
$100.7
CAGR, 2024 - 2030
21.1%
Report Coverage
Nordic Countries

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 2023USD 26.3 million
Market revenue in 2030USD 100.7 million
Growth rate21.2% (CAGR from 2023 to 2030)
Largest segmentDeadbolt
Fastest growing segmentLever Handles
Historical data2018 - 2022
Base year2023
Forecast period2024 - 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, 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 Companies

Name Profile # Employees HQ Website

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.


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

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Target buyers of Nordic Countries 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.).
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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)

Nordic Countries smart lock market size, by type, 2018-2030 (US$M)

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