South Africa Smart Lock Market Size & Outlook, 2023-2030
South Africa smart lock market, 2018-2030 (US$M)
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South Africa smart lock market highlights
- The South Africa smart lock market generated a revenue of USD 7.5 million in 2023 and is expected to reach USD 25.8 million by 2030.
- The South Africa market is expected to grow at a CAGR of 19.3% 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 7.5 million |
| Market revenue in 2030 | USD 25.8 million |
| Growth rate | 19.3% (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, South Africa accounted for 0.3% 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 |
|---|
South Africa 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% in 2023. Horizon Databook has segmented the South Africa smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa recorded a market share of 17.2% in 2022. This market share for the smart lock technology is accredited to the growing demand for smart homes across the region, as it offers easy access along with remote monitoring and enhanced security with numerous security features, among others.
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa smart lock market , including forecasts for subscribers. This country databook contains high-level insights into South Africa smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa smart lock market size, by type, 2018-2030 (US$M)
South Africa Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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