[Latest] Global Smart Lock Market Size/Share Worth USD 10.74 Billion by 2033 at a 16.16% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled 'Smart Lock Market Size, Trends and Insights By Product Type (Deadbolts, Lever Handles, Padlocks, Knob Locks, Others), By Technology (Bluetooth, Wi-Fi, Z-Wave, ZigBee, Others), By Authentication Method (Keypad-Based, Biometric, Card-Based, App-Based/Remote Control, Others), By End-User (Residential, Commercial, Industrial, Government Institutions, Transportation & Logistics, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033' in its research database.
'According to the latest research study, the demand of global Smart Lock Market size & share was valued at approximately USD 2.4 Billion in 2023 and is expected to reach USD 2.9 Billion in 2024 and is expected to reach a value of around USD 10.74 Billion by 2033, at a compound annual growth rate (CAGR) of about 16.16% during the forecast period 2024 to 2033.'
Click Here to Access a Free Sample Report of the Global Smart Lock Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=59428
Smart Lock Market: Overview
A smart lock is a modern locking device that provides keyless entry via mobile phones, biometrics, or codes. It improves security and convenience in residential, business, and hospitality establishments. The smart lock market has witnessed rapid growth at a global scale due to an increase in the number of smart homes, new technologies, and the increasing customer demand for improved security and integrated solutions.
By product type, the global smart lock market is classified into deadbolts, lever handles, padlocks, knob locks, and others. The deadbolt locks secure the market owing to their hardcore bolting security and are popular in residential and commercial areas. The lever handles are mainly used in offices and living hotels for functional and ornamental purposes of the door.
Padlocks have increased in popularity for portable security purposes in storage and outdoor needs. On residential premises, knob locks address cheap solutions for basic security needs. The innovative locking mechanisms like rim locks and cam locks used in the category labeled 'others' have restricted uses. The increase in biometric access systems and remote-controlled locks also increases the demand for these products worldwide.
According to technology, the global smart lock market is classified into several segments, such as Bluetooth, Wi-Fi, Z-Wave, ZigBee, and others. Of all the smart locks, Bluetooth ones are popular due to their low energy consumption and convenience, which allows them to work well for home applications.
Wi-Fi locks allow enhanced remote access and monitoring, making them favorable in smart home integrated systems. Z-Wave technology witnesses the seamless connection of devices within mesh networks and is, therefore, very effective for large or commercial homes/business operations. ZigBee locks are appreciated for their lower power requirements and ability to operate inside IoT environments. Under the 'others' category, proprietary designs and new technologies for novel use are included.
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The global smart lock market's fragmentation based on authentication methods includes keypad-based locks, biometric locks, card-based locks, app/remote control-based locks, and others. Keypad-based locks offer ease of use and allow customized access codes and are common in homes and offices. Biometric locks supporting fingerprint or face recognition technologies have good convenience and security and are popular among businesses and households.
Card-based locks in hospitality and corporate settings are omnipresent and enable access control without any inconvenience. App-based/ remote control locks are top-rated as they provide features such as monitoring locks in real time, using locks from any location, and compatibility with smart home systems. In this category, newer approaches have been considered, including voice recognition and combination approaches.
The global smart lock market is segmented according to end-users: residential, commercial, industrial, governmental, transportation and logistics, and others. The residential sector has considerable demand, as it is driven primarily by trends towards smart homes and the need for improved security.
Offices and hospitality sectors, which are commercial applications, require ease of use and control of access for many people. The industrial sector has also embraced smart lock technology to manage facilities with controlled access. Government institutions also need better-locking systems for data security and the protection of critical infrastructure.
In transportation and logistics, smart lock technology provides the necessary measures to thwart any chances of compromising cargo handling and access points. The category of others concerns more specialist deployments, such as those in institutions of healthcare and education.
Founded in 1994, ASSA ABLOY has grown from a regional lock manufacturer to a global leader in access solutions. With operations in more than 70 countries and a team of 61,000 experts, the company provides mechanical and digital locking systems, biometric systems, and security doors. ASSA ABLOY is known for its innovation and local expertise. Ensuring secure and modern access solutions for various sectors around the world.
Report Scope
Feature of the Report
Details
Market Size in 2024
USD 2.9 Billion
Projected Market Size in 2033
USD 10.74 Billion
Market Size in 2023
USD 2.4 Billion
CAGR Growth Rate
16.16% CAGR
Base Year
2023
Forecast Period
2024-2033
Key Segment
By Product Type, Technology, Authentication Method, End-User and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
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(A free sample of the Smart Lock report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology
(Please note that the sample of the Smart Lock report has been modified to include the COVID-19 impact study prior to delivery.)
Request a Customized Copy of the Smart Lock Market Report @ https://www.custommarketinsights.com/report/smart-lock-market/CMI has comprehensively analyzed the Global smart lock market. The drivers, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the smart lock market. Segment-wise market size and market share for smart locks during the forecast period have been duly addressed to portray the probable picture of the Global industry.
The competitive landscape includes key innovators, aftermarket service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, the report covers smart lock key players' profiling, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.
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Key questions answered in this report:
What is the size of the Smart Lock market and what is its expected growth rate?
What are the primary driving factors that push the Smart Lock market forward?
What are the Smart Lock Industry's top companies?
What are the different categories that the Smart Lock Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Smart Lock market sample report and company profiles?
Key Offerings:
Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Smart Lock Market: Regional Analysis
The global smart lock market is segmented by region into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Among all of these, North America held the largest Smart Lock Market share in 2023, with the United States being the dominant country. Nuki Smart Lock Ultra, coming to the US in early 2025, combines modern design and advanced technology.
It has a compact stainless-steel exterior and EV-inspired brushless motor, so it locks and unlocks in just 1.5 seconds. Designed for American-style deadbolt locks, it retains the existing buttons by adding smart features. With built-in Wi-Fi, Bluetooth, and Matter-over-Thread support, it connects seamlessly to major smart home systems. Rechargeable batteries and compatibility with innovative materials enhance its appeal. It costs about $370.
Asia Pacific Smart Lock Market is expected to grow rapidly during the forecast period. China is the Key market for smart locks in the region. Hangzhou-based company Desman has led the global sales of high-end smart locks for three years.
It has been certified by leading agencies. GPT finger fingerprint technology, a brand recognized as 'the world's leading core technology,' has industry-leading precision. The company has also expanded its global testing network with a fourth lab in Phoenix.
To ensure product reliability in various weather conditions, Desman's success underscores China's progress in smart lock technology and commitment to innovation for smarter living solutions. Key countries such as India, Japan, South Korea, ASEAN, and Australia are mainly driving the market growth of this region.
The European region is expected to grow at significant growth rates during the forecast period owing to the presence of well-developed end-use industries and growing demand for smart locks in Germany, France, the U.K., Russia, the Netherlands, and Spain.
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Browse the full 'Smart Lock Market Size, Trends and Insights By Product Type (Deadbolts, Lever Handles, Padlocks, Knob Locks, Others), By Technology (Bluetooth, Wi-Fi, Z-Wave, ZigBee, Others), By Authentication Method (Keypad-Based, Biometric, Card-Based, App-Based/Remote Control, Others), By End-User (Residential, Commercial, Industrial, Government Institutions, Transportation & Logistics, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033' Report at https://www.custommarketinsights.com/report/smart-lock-market/List of the prominent players in the Smart Lock Market:
Assa Abloy (Sweden)
Dormakaba Group (Switzerland)
Godrej & Boyce Manufacturing Company Limited (India)
Xiaomi Inc. (China)
Honeywell International Inc. (US)
Legrand (France)
Allegion plc (Schlage) (US)
SALTO Systems S.L (Spain)
Onity Inc. (US)
Shenzhen Kaadas Intelligent Technology Co. Ltd. (China)
Sentrilock LLC (US)
HavenLock Inc. (Canada)
Cansec Systems Ltd. (US)
Smart Locking Logic Proprietary Limited (South Africa)
UniKey Technologies Inc. (US)
Igloohome (Singapore)
Kwikset (US)
Samsung SmartThings (South Korea)
Others
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The Smart Lock Market is segmented as follows:
By Product Type
Deadbolts
Lever Handles
Padlocks
Knob Locks
Others
By Technology
Bluetooth
Wi-Fi
Z-Wave
ZigBee
Others
By Authentication Method
Keypad-Based
Biometric
Card-Based
App-Based/Remote Control
Others
By End-User
Residential
Commercial
Industrial
Government Institutions
Transportation & Logistics
Others
Click Here to Get a Free Sample Report of the Global Smart Lock Market @ https://www.custommarketinsights.com/report/smart-lock-market/
Regional Coverage:
North America
U.S.
Canada
Mexico
Rest of North America
Europe
Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
This Smart Lock Market Research/Analysis Report Contains Answers to the following Questions.
Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Smart Lock Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Smart Lock Market? What Was the Capacity, Production Value, Cost and PROFIT of the Smart Lock Market?
What Is the Current Market Status of the Smart Lock Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Smart Lock Market by Considering Applications and Types?
What Are Projections of the Global Smart Lock Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Smart Lock Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Smart Lock Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Smart Lock Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Smart Lock Industry?
Click Here to Access a Free Sample Report of the Global Smart Lock Market @ https://www.custommarketinsights.com/report/smart-lock-market/
Reasons to Purchase Smart Lock Market Report
Smart Lock Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Smart Lock Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Smart Lock Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Smart Lock Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
The study provides a thorough overview of the global Smart Lock market. Compare your performance to that of the market as a whole.
Aim to maintain competitiveness while innovations from established key players fuel market growth.
Buy this Premium Smart Lock Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/smart-lock-market/
What does the report include?
Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Smart Lock market analysis.
The competitive environment of current and potential participants in the Smart Lock market is covered in the report, as well as those companies' strategic product development ambitions.
According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
Participants and stakeholders worldwide Smart Lock market should find this report useful. The research will be useful to all market participants in the Smart Lock industry.
Managers in the Smart Lock sector are interested in publishing up-to-date and projected data about the worldwide Smart Lock market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Smart Lock products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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About Custom Market Insights:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
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Since Sanders signed a lease for what is called an "unfurnished apartment," it meant that she had to spend money buying her own kitchen cabinets, stove and washing machine. She estimates that she spent about $5,000 on the kitchen and close to another $10,000 to make the place really feel like home. In addition to rent, Sanders spends, on average, about 933 euros or $1,093 USD on expenses, which include household bills like cable, internet, renter's insurance, dry cleaning, electricity and gas, private health insurance, groceries, and a Navigo transportation card. She also has an annual subscription to the Louvre, which costs 95 euros a year and a second museum card that can add an extra 50-100 euros a year to her expenses. Sanders also pays 1,069.20 euros, or approximately $1,252, annually to a guarantor service, which allows her to continue renting in France. Now that Sanders has been living in her apartment for over three years, she plans to revisit her search for a home to buy. She started looking two years ago, but stopped after touring many places that she felt were overpriced. "With the advice of friends who have recently purchased in Paris, I am determined again. Finding the right place will be a grind, but I am tired of renting in Paris," Sanders says. I desperately need more space and I want to get a dog." While Sanders wants to set down roots in Paris, she also hopes to eventually buy a home in the countryside too. "I don't think it would be nice to put a dog like a golden retriever in central Paris, where he doesn't have a backyard, so that is my dream," she says. Living in France has also inspired Sanders to finally pursue her real dreams of starting her own fashion brand, Adriel Felise. Sanders says she's taking $200,000 from her business account and $70,000 from her personal savings and putting that towards her new business venture. That money and her income from content creation is helping fund her dreams. "I love fashion and I'm so happy that I can now just say that and be upfront about it because for so long it was treated as something that made me less serious," she says. Sanders is self-funding the production of her initial samples and prototypes, but hopes to raise at least $2 million and have her 10-piece collection ready for launch in 2026. When Sanders was working as a lawyer, she used to take walks around her office building and dream about starting a fashion line, and now seeing it come to life still doesn't feel real. "There's still a part of me that strives and pushes for more so I don't know if I'm fully ready to say I'm proud but I feel like I'm actually happy, which I wasn't for so long and that's huge for me," she says. "My goal and desire is to inspire women — particularly black and brown women — to just pursue their dreams and goals. When they do it does not matter. The most important thing is that they be bold, move wisely, and just go for it." Since Sanders has been in France for about five years now, she says she doesn't think she'll ever go back to living in the United States. "I can't live there. I can't function like that. I can't go back to corporate America and holding my tongue every five seconds every day," she says. "I wish I had had the courage to move sooner. I wish I had the courage to do it after my first semester of law school to either drop out or enroll in business school and do something different that would have given me more options."
