Smart Locks Market Report 2026

The smart locks market size has grown rapidly in recent years. It will grow from $2.98 billion in 2025 to $3.43 billion in 2026 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to increasing urbanization rates, rising concerns over property security, adoption of electronic access control systems, growth of smart residential developments, increasing availability of wireless connectivity.

The smart locks market size is expected to see rapid growth in the next few years. It will grow to $5.98 billion in 2030 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to increasing demand for ai-enabled access control, rising adoption of smart security solutions in commercial spaces, expansion of connected building infrastructure, growing focus on contactless access technologies, increasing integration with digital identity platforms. Major trends in the forecast period include increasing adoption of keyless entry systems, rising use of biometric authentication technologies, growing integration with smart home ecosystems, expansion of mobile-based access control, enhanced focus on residential and commercial security.

The rise in the number of residential and commercial projects is expected to drive the growth of the smart locks market. Residential projects refer to buildings intended for living purposes, while commercial projects refer to buildings used for business activities. Smart locks are increasingly adopted in both types of projects as they provide enhanced security through various technologies. For example, in July 2023, the Australian Bureau of Statistics reported that in the March quarter of 2023, the number of dwellings under construction increased to 240,813 from 240,065 in 2022, with new houses totaling 103,778 in 2023, up from 101,240 in 2022. Therefore, the growth in residential and commercial projects is boosting the smart locks market.

Many companies in the smart locks market are focused on developing innovative products with enhanced features to strengthen their position in emerging markets. Smart door lock systems are equipped with advanced technologies to ensure a seamless and user-friendly experience. For instance, in September 2023, Ultraloq, a US-based manufacturer of keyless locks and door hardware, launched the next iteration of its flagship ULTRALOQ Bolt smart Wi-Fi deadbolts series. This new product offers customers improved home integration, security, connectivity, and utility.

In September 2024, ASSA ABLOY, a Sweden-based manufacturing company, acquired Level Lock Inc. for an undisclosed amount. The acquisition aims to strengthen ASSA ABLOY’s position in the smart lock market and expand its portfolio of innovative access solutions. Level Lock Inc. is a US-based technology company specializing in smart lock solutions for residential and commercial properties.

Major companies operating in the smart locks market are ASSA ABLOY AB; Allegion plc; dormakaba Holding AG; SALTO Systems; August Home; HAVENLock; Schlage; Kwikset; Master Lock Company; Samsung Electronics Co., Ltd.; Panasonic Corporation; Kaadas; DESSMANN; Guangdong Be-Tech Security Systems; Mul-T-Lock; U-tec Group Inc.; UniKey Technologies Inc.; Gantner Electronic GmbH; Cansec Systems Ltd.; Avent Security; SDS Smart Locks; Godrej Group.

North America was the largest region in the smart locks market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart locks market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart locks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tariffs are impacting the smart locks market by increasing costs of imported electronic components, wireless communication modules, biometric sensors, and precision locking mechanisms. Residential and commercial markets in North America and Europe are most affected due to reliance on imported smart lock hardware, while Asia-Pacific faces export cost pressures. These tariffs are increasing retail prices and slowing upgrade cycles. However, they are also encouraging domestic lock manufacturing, regional component sourcing, and innovation in modular and cost-optimized smart locking solutions.

The smart locks market research report is one of a series of new reports that provides smart locks market statistics, including smart locks industry global market size, regional shares, competitors with a smart locks market share, detailed smart locks market segments, market trends and opportunities, and any further data you may need to thrive in the smart locks industry. This smart locks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Smart locks are mechanical and electrical locks that can be wirelessly opened with authentication from authorized users by connecting to the home's Wi-Fi network. This connectivity allows them to receive codes or smartphone commands for locking or unlocking, enhancing security.

The main types of products in the smart lock market include deadbolts, lever handles, padlocks, and others. Padlocks, in this context, are locks used for fastening two things together. Various communication technologies, such as Wi-Fi, Z-Wave, and Zigbee, are employed, and authentication methods include biometrics, pin codes, and RFID cards. Smart locks find applications in residential, hospitality, enterprise, critical infrastructure, and other contexts.

The smart lock market consists of sales of adapted smart locks and native smart locks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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