U.S. Smart Lock Market Size & Outlook, 2023-2030
U.S. smart lock market, 2018-2030 (US$M)
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U.S. smart lock market highlights
- The U.S. smart lock market generated a revenue of USD 765.7 million in 2023 and is expected to reach USD 2,168.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 16% 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 765.7 million |
| Market revenue in 2030 | USD 2,168.4 million |
| Growth rate | 16% (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, U.S. accounted for 33.0% 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 North America, U.S. smart lock market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 481.0 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 44.44% in 2023. Horizon Databook has segmented the U.S. smart lock market based on deadbolt, lever handles, padlock covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. recorded the highest market share of 82.9% in 2022. The U.S. is the major contributor to the regional market growth owing to the presence of major tech companies, such as August Home, Inc. (ASSA ABLOY), Kwikset (Spectrum Brands Holdings, Inc.), Yale Locks (ASSA ABLOY), and Onity Inc. (Carrier Global Corporation), and their large-scale investments in smart lock technology.
Moreover, the trend of acquiring latest technologies in smart devices due to the high disposable income of people across the region is expected to drive the market growth. For instance, in March 2022, Onity Inc. launched its latest contactless locking solution, the HT RFID (radio frequency identification) lock, for the hospitality industry.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. smart lock market , including forecasts for subscribers. This country databook contains high-level insights into U.S. smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. smart lock market size, by type, 2018-2030 (US$M)
U.S. Smart Lock Market Outlook Share, 2023 & 2030 (US$M)
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