[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)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Smart Lock Market size & share revenue 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 around USD 10.74 Billion by 2033, at a CAGR of 16.16% between 2024 and 2033. The key market players listed in the report with their sales, revenues and strategies are 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 (Canada), Cansec Systems (US), Smart Locking Logic Proprietary Limited (South Africa) & Others.

/EIN News/ -- 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	Request tailored purchasing options to fulfil your research requirements.

(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.)

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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

Click Here to Access a Free Sample Report of the Global Smart Lock Market @ https://www.custommarketinsights.com/report/smart-lock-market/

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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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