Market Summary
Research Methodology on Smart Lock Market
The research methodology for this research report on the global smart lock market is based on a combination of primary and secondary research. Primary data is collected through surveys, interviews, and observations. Data collected by secondary research includes information sourced from government data, online databases, white papers, news portals, and internal and external sources.
Primary Research
The primary research conducted for this report is conducted through surveys and interviews. The interviews are conducted with senior industry executives, such as manufacturers, distributors, and suppliers of smart locks within the global market. The interview participants also include experts from the academic community and industry associations.
In-depth interviews were conducted with a wide range of key opinion leaders and key players in the field of smart locks. The primary objective of the primary research is to provide comprehensive insights into the size, growth, market dynamics, and competitive landscape of the global smart lock market. The data collected from primary interviews are validated through the secondary research process.
Secondary Research
Secondary research is used to obtain a thorough analysis of the global smart lock market. The data obtained from secondary research sources include industry reports, databases, whitepapers, press releases, and other sources. The secondary research process is used to identify the competitors in the global smart lock market and to analyze the current and historical trends in the market. The secondary research also provides insights into the geographic landscape, segmentation, and application landscape of the global smart lock market.
Market Size Estimation
The size of the global smart lock market is estimated through a combination of Top-Down and Bottom-Up approaches. The market size estimation process is carried out by taking into account the revenue generated by manufacturers, distributors, and suppliers of smart locks within the global market. The various market sizes derived from each of these sources are then consolidated to calculate the overall size of the market.
Data Triangulation
The data triangulation process used for this research report is based on the following steps:
- Market breakdown – The global smart lock market is segmented into different categories such as by end-user application, by type, and by region.
- Market share analysis – The estimated market share of the key players in the global smart lock market is calculated.
- Primary interviews – Primary interviews are conducted with key industry experts to validate the market share estimates.
The data triangulation process is used to derive accurate and reliable market size estimates and market share estimates.
Data Analysis
The data analysis is based on the following steps:
- Descriptive analysis – Descriptive analysis is conducted to further understand the trends and dynamics of the global smart lock market.
- Statistical analysis – The collected data is analyzed using statistical techniques such as correlation analysis and multi-variant analysis.
- Regression analysis – This type of analysis is conducted to identify the factors that influence the demand for smart locks.
The statistical analysis of the data enables us to identify the trends, growth drivers, and other factors that influence the market.
Market Size & Forecast
Attribute/Metric |
Details |
Market Size 2023 |
USD 1,326 million |
Market Size 2024 |
USD 1532.85 million |
Market Size 2032 |
USD 4,887.2 million |
Compound Annual Growth Rate (CAGR) |
15.60% (2024-2032) |
Base Year |
2023 |
Market Forecast Period |
2024-2032 |
Historical Data |
2019- 2022 |
Market Forecast Units |
Value (USD Million) |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Lock Type, Connectivity, Authentication Method, Application Area and Region |
Geographies Covered |
Europe, North America, Asia-Pacific, and the Rest of the World |
Countries Covered |
The U.S, Germany, Canada, U.K., Italy, France, Spain, Japan, China, Australia, India, South Korea, Brazil, and Others. |
Key Companies Profiled |
The Assa Abloy Group – Yale, Allegion Plc, Dormakaba Group, Spectrum Brands, Inc., Salto Systems, S.L, Onity Inc, Master Lock Company Llc. (Fortune Brands Innovations.), Havenlock, Inc., Godrej & Boyce, U-Tec Group Inc, Bosama, Level Home Inc, Wyze Labs, Inc |
Key Market Opportunities |
· Growing Hospitality Industry |
Key Market Dynamics |
· Rising Concern for Security · Technological Advancement in The Smart Lock |
Major Players
Smart Lock Market Segmentation
Global Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
Global Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
Global Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
Global Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
Global Smart Lock, Regional Outlook (USD Million, 2019-2032)
- North America Outlook (USD Million, 2019-2032)
- North America Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- North America Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- North America Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- North America Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- US Outlook (USD Million, 2019-2032)
- US Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- US Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- US Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- US Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Canada Outlook (USD Million, 2019-2032)
- Canada Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Canada Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Canada Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Canada Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Mexico Outlook (USD Million, 2019-2032)
- Mexico Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Mexico Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Mexico Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Mexico Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Europe Outlook (USD Million, 2019-2032)
- Europe Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Europe Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Europe Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Europe Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Germany Outlook (USD Million, 2019-2032)
- Germany Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Germany Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Germany Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Germany Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- UK Outlook (USD Million, 2019-2032)
- UK Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- UK Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- UK Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- UK Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- France Outlook (USD Million, 2019-2032)
- France Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- France Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- France Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- France Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Rest of Europe Outlook (USD Million, 2019-2032)
- Rest of Europe Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Rest of Europe Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Rest of Europe Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Rest of Europe Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Asia-Pacific Outlook (USD Million, 2019-2032)
- Asia-Pacific Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Asia-Pacific Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Asia-Pacific Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Asia-Pacific Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- China Outlook (USD Million, 2019-2032)
- China Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- China Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- China Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- China Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Japan Outlook (USD Million, 2019-2032)
- Japan Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Japan Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Japan Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Japan Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- India Outlook (USD Million, 2019-2032)
- India Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- India Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- India Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- India Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Rest of Asia-Pacific Outlook (USD Million, 2019-2032)
- Rest of Asia-Pacific Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Rest of Asia-Pacific Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Rest of Asia-Pacific Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Rest of Asia-Pacific Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Rest of the World Outlook (USD Million, 2019-2032)
- Rest of the World Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Rest of the World Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Rest of the World Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Rest of the World Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- Middle East & Africa Outlook (USD Million, 2019-2032)
- Middle East & Africa Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- Middle East & Africa Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- Middle East & Africa Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- Middle East & Africa Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
- South America Outlook (USD Million, 2019-2032)
- South America Smart Lock, By Lock Type Outlook (USD Million, 2019-2032)
- Deadbolt
- Lever Handles
- Padlock
- Others
- South America Smart Lock, By Connectivity (USD Million, 2019-2032)
- Bluetooth
- Wi-Fi
- NFC
- South America Smart Lock, By Authentication Method (USD Million, 2019-2032)
- Keypads
- Touch Based
- Card Keys
- Others
- South America Smart Lock, By Application Area (USD Million, 2019-2032)
- Commercial
- Hospitality
- Retail
- Healthcare
- Government
- Commercial
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