UAE Smart Lock Market Size & Outlook, 2023-2030
UAE smart lock market, 2018-2030 (US$M)
Related Markets
UAE smart lock market highlights
- The UAE smart lock market generated a revenue of USD 6.2 million in 2023 and is expected to reach USD 23.6 million by 2030.
- The UAE market is expected to grow at a CAGR of 20.9% 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 6.2 million |
| Market revenue in 2030 | USD 23.6 million |
| Growth rate | 20.9% (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, UAE 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 |
|---|
UAE 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 45.16% in 2023. Horizon Databook has segmented the UAE smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
UAE is anticipated to witness a significant CAGR of 20.9% over the forecast period from 2023 to 2030. This growth is attributed to the growing construction of luxurious buildings and villas integrated with smart security and surveillance systems, which is expected to aid the smart lock market growth over the forecast period.
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE smart lock market , including forecasts for subscribers. This country databook contains high-level insights into UAE smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE smart lock market size, by type, 2018-2030 (US$M)
UAE Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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