North America Smart Lock Market Size & Outlook, 2023-2030
North America smart lock market, 2018-2030 (US$M)
Related Markets
North America smart lock market highlights
- The North America smart lock market generated a revenue of USD 925.1 million in 2023.
- The market is expected to grow at a CAGR of 16.2% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 925.1 million |
| Market revenue in 2030 | USD 2,649.3 million |
| Growth rate | 16.2% (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, North America region accounted for 39.8% 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 |
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North 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 44.41% in 2023. Horizon Databook has segmented the North America 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 North America was valued at USD 797.0 million in 2022 and is estimated to record an exceptional growth rate of 16.2% from 2023 to 2030. The growth is credited to the increased technology adoption and the rapid expansion of smart homes in the region.
Besides, increased disposable incomes and a favorable regulatory environment are also propelling the growth of the regional smart lock market. Moreover, the smart lock market is evolving rapidly, with new products and features being introduced regularly.
For instance, in March 2022, Schlage (Allegion Plc) launched the new Encode Plus, one of the first smart locks to leverage Apple's Home Key standard. Encode Plus provides the option for tapping the user's watch or phone against the keypad for unlocking, which is driving the growth further.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into North America smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America smart lock market size, by country, 2018-2030 (US$M)
North America Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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