Saudi Arabia Smart Lock Market Size & Outlook, 2023-2030
Saudi Arabia smart lock market, 2018-2030 (US$M)
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Saudi Arabia smart lock market highlights
- The Saudi Arabia smart lock market generated a revenue of USD 10.2 million in 2023 and is expected to reach USD 33.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 18.7% 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 10.2 million |
| Market revenue in 2030 | USD 33.9 million |
| Growth rate | 18.7% (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, Saudi Arabia accounted for 0.4% 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 |
|---|
Saudi Arabia 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 44.12% in 2023. Horizon Databook has segmented the Saudi Arabia smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia recorded a market share of 23.6% in 2022. This market growth is attributed to the growing adoption of smart home technology in residential properties, such as villas, apartments, and townhouses.
Moreover, the convenience of being able to remotely control access to their homes and the added security that smart lock offers are anticipated to fuel the smart lock market further.
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Target buyers of Saudi Arabia smart lock market databook
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia smart lock market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia smart lock market size, by type, 2018-2030 (US$M)
Saudi Arabia Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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