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    Smart Lock Market

    ID: 3376
    176 Pages
    Research Team
    03/2024

    Smart Lock Market Research Report Information By Lock Type (Deadbolt, Lever Handles, Padlock, and Others), By Connectivity (Bluetooth, Wi-Fi and NFC), By Authentication Method (Keypads, Touch Based, Card Keys, and Others), By Application Area (Commercial and Government) and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) – Industry Forecast Till 2032

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    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
    • 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

     

    • 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

     

    • 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

     

     

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

     

    • 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

     

     

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

    Market Trends

    Global Smart Lock Market Overview

    Smart Lock Market Size was valued at USD 1,326 Million in 2023. The Smart Lock industry is projected to grow from USD 1532.85 Million in 2024 to USD 4887.2 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 15.60% during the forecast period (2024 - 2032).

    The Smart Lock Market is experiencing significant growth and is poised for further expansion due to increasing adoption of smart home technology, rising security concerns, and advancements in wireless communication and IoT technologies. Smart locks offer convenience, enhanced security, and remote access control, making them a popular choice for residential and commercial applications. This executive summary provides a comprehensive overview of the current state of the Smart Lock Market, including market trends, key drivers, challenges, and opportunities for growth.

    The smart lock market has witnessed rapid growth in recent years, driven by the growing trend of home automation and the need for advanced security solutions. Smart locks offer keyless entry, remote locking and unlocking, and integration with smart home systems, making them an integral part of the connected living ecosystem. The market is characterized by a diverse range of product offerings, including biometric, keypad, and Bluetooth-enabled smart locks, catering to the varying security needs of consumers and businesses.

    Market Segment Insights

    Smartphone Sensors Smartphone Type Insights

    The Smartphone Sensors market segmentation, based on smartphone type, includes standard smartphone, rugged smartphone, smartwatches, and other wearable. The standard smartphone segment dominated the market, accounting for the maximum market revenue. A smartphone is a mobile phone with a built-in computer and advanced features, such as web browsing and operating system, which are not associated with its counterpart. The rising mobile internet use, rising disposable income in developing countries, and high ownership of premium design smartphones are a few factors that are anticipated to grow smartphone sales. Smartphones are helped by a mobile operating system that offers advanced computing facilities. A smartphone can also work as a digital media player for uploading photos, videos, and music through a single interface.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035

    Smartphone Sensors Manufacturer Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Application Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Regional Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035

    Smartphone Sensors Price Insights

    The Smartphone Sensors market segmentation, based on price, includes USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment dominated the market revenue in the projected period. Most smartphones sold in medium-end devices have a sensor within this range. For instance: Nubia launched a new flagship Android device powered by the latest Snapdragon 8Gen 2CPU. The OEM has also specified that this gadget, which peculiarly seems to go by the name Z50 even though its processor was the z40 Pro, will compete with the Xiaomi 13 and iQOO11 series with cutting-edge LPDDR5X RAM and storage with the most recent UFS 4.0 spec.

    Get more detailed insights about Smart Lock Market

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Smartphone Sensors market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and growing market climate, the Smartphone Sensors industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Smartphone Sensors industry to benefit clients and increase the market sector. In recent years, the Smartphone Sensors industry has offered manufacturers some of the most significant advantages. Major players in the Smartphone Sensors market, including MS AG (Austria), Broadcom Inc. (US), DYNA IMAGE Corporation (China), Murata Electronics Oy (Finland), NEXT Biometrics Group ASA (Norway), Omron Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

    Samsung is dedicated to abiding by local laws and regulations and enforcing a strict code of conduct for all employees. Samsung adheres to a straightforward business tent: to usage its technology and expertise to develop top-notch goods and services that make a more cultured world. Samsung provides a high importance on its people and technologies to do this. For Instance: In January 2023, Samsung Electronics launched its new MICRO LED, Neo QLED, and Samsung OLED product lines, along with lifestyle products and accessories, before CES® 2023.

    Apple Inc. is a multinational American technology business with its main office in Cupertino, California. According to revenue, Apple will be the top technological business in the world in 2022, with US $ 394.3 billion in sales. According to market capitalization, Apple is the largest corporation in the world as of March 2023. For Instance: In September 2022, the iPhone 14 and iPhone 14 Plus, which come in two sizes, 6.1 and 6.7 inches and include a smart design, camera upgrades, and game-changing new safety measures, were introduced by Apple. The iPhone 14 and iPhone 14 Plus have a powerful camera system that incorporates the primary and front TrueDepth cameras, the Ultra Wide camera for uncommon perspectives, and the photonic engine, an enhanced picture pipeline.

    Key Companies in the Smartphone Sensors market include

    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)

    Industry Developments

    • September 2022: Comcast and Samsung Electronics announced their partnership to create 5G Radio Access Network (RAN) technologies to enhance 5G connection for Xfinity Mobile and Comcast Business Mobile users in Comcast service zones. Samsung will provide 5G RAN technology, and Comcast will deploy Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum to provide 5G access to consumer and business users in the US.
    • October 2022: Huawei announced the release of the newest antenna solutions, including the Maxwell platform and the X2 antenna series, for the subsequent 5G antenna innovation stage. The new technologies speed up 5G deployment by improving antenna and setup capabilities.

    Market Segmentation

    Smartphone Type Outlook

    • Standard Smartphone
    • Rugged Smartphone
    • Smartwatches
    • Other Wearable

    Price Outlook

    • USD 300 to USD 500
    • USD 100 to USD 300
    • Above USD 500
    • Under USD 100

    Manufacturer Outlook

    • Apple Inc.
    • Samsung Electronics
    • Huawei Technology
    • Xiaomi Inc.
    • Oppo
    • Sony Corporation
    • HMD Global

    Application Outlook

    • High-Level
    • Mid-Level
    • Low-Level

    Manufacturer Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Italy
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Report Scope

    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

    Market Highlights

    Author

    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

    Leave a Comment

    Latest Comments

    John Doe
    john@example.com

    This is a great article! Really helped me understand the topic better.

    Posted on July 23, 2025, 10:15 AM
    Jane Smith
    jane@domain.com

    Thanks for sharing this. I’ve bookmarked it for later reference.

    Posted on July 22, 2025, 7:45 PM

    FAQs

    What are the driving factors impacting the global smart lock market?

    The development of the internet of things and the implementation of advanced technology have been notable driving factors for smart locks market’s growth.

    What are the segments mentioned in the global smart lock market study?

    The segments covered in the study are lock type, product type, communication protocol, and end-users.

    Which region is going to set a high valuation for the global smart lock market in the forecast period?

    North America the leading region across the world that would gain maximum market share during the forecast period.

    What is the global smart lock market’s valuation in the forecast period?

    The global smart lock market’s valuation is calculated up to USD ~2 billion by 2023.

    What are the key trends making the global smart lock market to grow?

    It is the advanced technologies that are booming the market with tremendous valuation. The technologies such as near-field communication, Bluetooth, ZigBee are important ones motivating the smart locks market to grow.

    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
    • 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

     

    • 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

     

    • 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

     

     

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

     

    • 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

     

     

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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

     

    • 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
    Infographic

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