UK Smart Lock Market Size & Outlook, 2023-2030
UK smart lock market, 2018-2030 (US$M)
Related Markets
UK smart lock market highlights
- The UK smart lock market generated a revenue of USD 115.9 million in 2023 and is expected to reach USD 334.0 million by 2030.
- The UK market is expected to grow at a CAGR of 16.3% 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 115.9 million |
| Market revenue in 2030 | USD 334.0 million |
| Growth rate | 16.3% (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, UK accounted for 5.0% 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 Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 UK smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
The U.K. recorded a significant market share of 19.0% in 2022. The country’s market strength is attributed to the increasing trend of selecting smart locks over traditional locks in the region.
The benefits offered by these smart locks, such as enhanced security, remote monitoring, smart home automation, among others, are expected to fuel the smart lock market growth over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK smart lock market , including forecasts for subscribers. This country databook contains high-level insights into UK smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK smart lock market size, by type, 2018-2030 (US$M)
UK Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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