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Smart Lock Market Size, Share & Trends Analysis Report By Type (Deadbolt, Lever Handle, Padlock), By Application (Residential, Hospitality, Enterprise), By Region, And Segment Forecasts, 2023 - 2030

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  • 132 Pages
  • April 2023
  • Region: Global
  • Grand View Research
  • ID: 4582066
Description Jump to:
The global smart lock market size is expected to reach USD 8.13 billion by 2030, and is anticipated to register a CAGR of 19.6% from 2023 to 2030. Key factors driving the growth of the smart lock market globally include increased global internet penetration, increased consumer awareness about advanced security systems, and higher reliance on mobile applications to make daily processes easier. Smart locks without power locks use Wi-Fi or Bluetooth to connect to other home appliances installed. Locks can be operated by a special power cord or by installing a smart lock app on the phone.

The user can send temporary keys to people, giving them home access within a specified time. In addition, smart lock technology is easy to use and unique compared to conventional methods. For instance, security solutions with passwords, ID codes, machine keys, and code names are tedious to take care of and can potentially lead to theft or loss of data. Smart keys work on an IoT connection, which synchronizes with the user's smartphone to gain control. This smart lock feature makes it reliable, unique, and easy to use and strengthens its market presence.

During the first couple of quarters of 2020. The COVID-19 pandemic slowed the pace of new smart lock installations. Drastic changes such as cross-border trade prohibitions, economic uncertainty, restrictive standards necessitating temporary shutdowns of industrial facilities, and stay-at-home orders for the general public produced a difficult situation for the industry. Nonetheless, measures such as embedding touchless technologies into their products, developing mobile apps for performing operations, and offering products at lower pricing on the available modes helped businesses increase their ROI during these essential lockdown instances.

Smart lock Market Report Highlights

  • The global market is driven by the increased global internet penetration, increased consumer awareness about advanced security systems, and a higher reliance on mobile applications to make daily processes easier. Growing usage of smart locks in residential security will propel the overall market in the forecast period
  • Based on the type segment. The lever handle type of locks is anticipated to expand with the highest CAGR of 22.4% during the forecast period of 2023-2030. This is attributed to the modernizing operations in the hospitality sector to meet tourist security needs
  • Based on applications. The hospitality segment is expected to exhibit the highest CAGR of 23.8% from 2023 to 2030, owing to the rapid implementation of smart locks to accommodate consumers' growing security concerns throughout their visits
  • The North American region contributed the largest revenue share in 2022 to the smart lock market owing to the advancements in technology across the region

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information Analysis
1.3.2 Market Formulation & Data Visualization
1.3.3 Data Validation & Publishing
1.4 Research Scope And Assumptions
1.4.1 List Of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Growing Preference For Smart Home Ecosystems
3.3.1.2 Increasing Smartphone Penetration And Continued Rollout Of High-Speed Internet Networks
3.3.1.3 Widening Non-Residential Application Base
3.3.2 Market Restraint Analysis
3.3.2.1 Technological Challenges And Potential Vulnerabilities
3.3.2.2 Security Threats And System Compromise
3.4 Market Challenges
3.5 Market Opportunities
3.6 Industry Analysis Tools
3.6.1 Porter’s Analysis
3.6.2 Macroeconomic Analysis
3.7 Smart Lock Market - Covid-19 Impact Analysis
Chapter 4 Type Estimates And Trend Analysis
4.1 Market Size Estimates & Forecasts And Trend Analysis, 2018-2030 (USD Million)
4.2 Type Movement Analysis & Market Share, 2022 & 2030
4.3 Smart Lock Market Estimates & Forecast, By Type (USD Million) (Thousand Units)
4.3.1 Deadbolt
4.3.2 Lever Handles
4.3.3 Padlock
4.3.4 Others
Chapter 5 Application Estimates And Trend Analysis
5.1 Market Size Estimates & Forecasts And Trend Analysis, 2018-2030 (USD Million)
5.2 Application Movement Analysis & Market Share, 2022 & 2030
5.3 Smart Lock Market Estimates & Forecast, By Application (USD Million) (Thousand Units)
5.3.1 Residential
5.3.2 Hospitality
5.3.3 Enterprise
5.3.4 Critical Infrastrucuture
5.3.5 Others
Chapter 6 Regional Estimates & Trend Analysis
6.1 Smart Lock Market By Region, 2022 & 2030
6.2 North America
6.2.1 North America Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Millions) (Thousand Units)
6.2.2 U.S.
6.2.2.1 U.S. Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.2.3 Canada
6.2.3.1 Canada Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3 Europe
6.3.1 Europe Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Millions) (Thousand Units)
6.3.2 U.K.
6.3.2.1 U.K. Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.3 Germany
6.3.3.1 Germany Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.4 France
6.3.4.1 France Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.5 Italy
6.3.5.1 Italy Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.6 Spain
6.3.6.1 Spain Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.7 Benelux
6.3.7.1 Benelux Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.8 Nordic Countries
6.3.8.1 Nordic Countries Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.3.9 Russia
6.3.9.1 Russia Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4 Asia Pacific
6.4.1 Asia Pacific Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Millions) (Thousand Units)
6.4.2 China
6.4.2.1 China Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4.3 South Korea
6.4.3.1 South Korea Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4.4 Japan
6.4.4.1 Japan Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4.5 India
6.4.5.1 India Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4.6 Australia
6.4.6.1 Australia Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.4.7 Indonesia
6.4.7.1 Indonesia Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.5 Latin America
6.5.1 Latin America Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Millions) (Thousand Units)
6.5.2 Brazil
6.5.2.1 Brazil Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.5.3 Mexico
6.5.3.1 Mexico Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.5.4 Argentina
6.5.4.1 Argentina Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.6 Middle East & Africa (Mea)
6.6.1 Mea Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Millions) (Thousand Units)
6.6.2 UAE
6.6.2.1 UAE Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.6.3 Saudi Arabia
6.6.3.1 Saudi Arabia Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.6.4 Egypt
6.6.4.1 Egypt Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.6.5 South Africa
6.6.5.1 South Africa Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
6.6.6 NIGERIA
6.6.6.1 Nigeria Smart Lock Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Chapter 7 Smart Lock Market - Competitive Landscape
7.1 Key Market Participants
7.1.1 August Home, Inc. (ASSA ABLOY)
7.1.2 Avent Security
7.1.3 Cansec Systems Ltd.
7.1.4 HavenLock, Inc.
7.1.5 Kwikset (Spectrum Brands Holdings, Inc.)
7.1.6 MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY)
7.1.7 Schlage (Allegion Plc)
7.1.8 Zigbang Co., Ltd. (Previously Samsung SDS)
7.1.9 Sentrilock, LLC
7.1.10 Smart Locking Logic Proprietary Limited
7.1.11 UniKey Technologies, Inc.
7.1.12 Yale Locks (ASSA ABLOY)
7.1.13 Goji
7.1.14 Onity Inc. (Carrier Global Corporation)
7.1.15 Honeywell International Inc.
7.2 Recent Development & Impact Analysis, By Key Market Participants
7.3 Company Categorization
7.4 Participant’s Overview
7.5 Financial Performance
7.6 Product Benchmarking
7.7 Company Heat Map Analysis
7.8 Key Company Market Share Analysis, 2022
7.9 Strategy Mapping
7.9.1 PARTNERSHIP
7.9.2 MERGER & ACQUISITION
7.9.3 NEW PRODUCT/FEATURE LAUNCH
7.9.4 CERTIFICATIONS
7.9.5 EXPANSION
List of Tables
Table 1 Key market driver impact
Table 2 Key market restraint impact
Table 3 Global smart lock market revenue estimates and forecast, by type, 2018 - 2030 (USD Million)
Table 4 Global smart lock market revenue estimates and forecast, by type, 2018 - 2030 (Thousand Units)
Table 5 Global smart lock market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
Table 6 Global smart lock market revenue estimates and forecast, by application, 2018 - 2030 (Thousand Units)
Table 7 Company heat map analysis
Table 8 Key companies undergoing partnerships
Table 9 Key companies involved in merger & acquisition
Table 10 Key companies involved in new product launch
List of Figures
Fig. 1 Smart lock market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Industry snapshot
Fig. 9 Smart home market value, 2022 (USD Million)
Fig. 10 Value chain analysis
Fig. 11 Market dynamics
Fig. 12 Global consumer spending on smart home related devices, 2019 - 2027 (USD Billion)
Fig. 13 Important features considered when choosing smart locks (%)
Fig. 14 Global smartphone adoption rate (%), 2022 & 2025
Fig. 15 U.S. non - residential construction spending, 2017 to 2026 (USD Billion)
Fig. 16 Smart lock market: Porter’s analysis
Fig. 17 Smart lock market: PESTEL analysis
Fig. 18 Smart lock market, by type, key takeaways, 2018 - 2030 Revenue (USD Million)
Fig. 19 Smart lock market, by type: market share, 2022 & 2030
Fig. 20 Deadbolt market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 21 Lever Handles market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 22 Padlock market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 23 Others market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 24 Smart lock market, by application, key takeaways, 2018 - 2030 Revenue (USD Million)
Fig. 25 Smart lock market, by application: market share, 2022 & 2030
Fig. 26 Residential market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 27 Hospitality market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 28 Enterprise market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 29 Critical Infrastructure market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 30 Others market estimates & forecasts, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 31 Smart lock market by region, 2022 & 2030 Revenue (USD Million)
Fig. 32 Regional marketplace: Key takeaways
Fig. 33 Regional marketplace: Key takeaways
Fig. 34 North America smart lock market estimates & forecast, 2018 - 2030 (USD Millions) (Thousand Units)
Fig. 35 U.S. smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 36 Canada smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 37 Europe smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 38 U.K. smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 39 Germany smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 40 France smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 41 Italy smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 42 Spain smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 43 Benelux smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 44 Nordic Countries smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 45 Russia smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 46 Asia Pacific smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 47 China smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 48 South Korea smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 49 Japan smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 50 India smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 51 Australia smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 52 Indonesia smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 53 Latin America smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 54 Brazil smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 55 Mexico smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 56 Argentina smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 57 MEA smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 58 UAE smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 59 Saudi Arabia smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 60 Egypt smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 61 South Africa smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 62 Nigeria smart lock market estimates & forecast, 2018 - 2030 (USD Million) (Thousand Units)
Fig. 63 Key company categorization
Fig. 64 Key company market share analysis, 2022
Fig. 65 Strategy framework

Companies Mentioned

  • August Home, Inc. (ASSA ABLOY)
  • Avent Security
  • Cansec Systems Ltd.
  • HavenLock, Inc.
  • Kwikset (Spectrum Brands Holdings, Inc.)
  • MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY)
  • Schlage (Allegion Plc)
  • Zigbang Co., Ltd. (Previously Samsung SDS)
  • Sentrilock, LLC
  • Smart Locking Logic Proprietary Limited
  • UniKey Technologies, Inc.
  • Yale Locks (ASSA ABLOY)
  • Goji
  • Onity Inc. (Carrier Global Corporation)
  • Honeywell International Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages132
PublishedApril 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 1.95 Billion
Forecasted Market Value ( USD ) by 2030 $ 8.13 Billion
Compound Annual Growth Rate19.6%
Regions CoveredGlobal
No. of Companies Mentioned15

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About the Smart Lock Market

The Smart Lock market within the Consumer Electronics industry is a rapidly growing sector. Smart Locks are electronic locks that allow users to control access to their homes or businesses remotely. They are typically connected to a smartphone or other device, allowing users to unlock and lock their doors with the press of a button. Smart Locks also offer additional features such as automatic locking, keyless entry, and integration with home automation systems. Smart Locks are becoming increasingly popular due to their convenience and security benefits. They are also becoming more affordable, making them accessible to a wider range of consumers. As a result, the Smart Lock market is expected to continue to grow in the coming years. Some of the leading companies in the Smart Lock market include August Home, Schlage, Kwikset, Yale, and Nest. These companies offer a variety of Smart Lock products, ranging from basic keyless entry systems to more advanced home automation systems. Show Less Read more

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