Smart Door Lock Market By Product (Electronic Cipher Locks, Fingerprint Locks, Remote Locks, and Others), By Application (Household, Commercial, and Others), and By Region - Trends, Analysis and Forecast till 2029

Smart Door Lock Market size accounted for USD 2.08 Billion in 2020 and is expected to grow to USD 4.58 Billion in 2030 at a compound annual growth rate (CAGR) of 11.5%.

An electrical and mechanical locking mechanism known as a "smart lock" can be wirelessly unlocked with authentication from authorised users. Without using a standard key, smart locks enable homeowners to enter their homes or allow access to outsiders. Smart locks enable users to mechanically unlock the door and wirelessly validate the lock using other, more accessible items like a key fob or a smartphone. One can consider smart locks as a logical progression of home automation or security. Smart locks can therefore be categorised as Internet of Things gadgets. Smart locks link through Bluetooth, Wi-Fi, or both and are easy to use.

Increased demand for Smart Door Lock

The rising Internet of Things (IoT) movement, as well as increased security and privacy concerns, have hastened the adoption of smart home security devices on a global scale. Sales of the products are expected to increase as consumers become more aware of the benefits of modern security systems. Additionally, as the number of smartphone users globally has increased in recent years, more smart locks have been installed due to advantages like convenience and ease of use.

Smart Door Lock Market is segmented based on product, application, and region.

On the basis of Product, the Global Smart Door Lock Market is segmented into Electronic Cipher Locks, Fingerprint Locks, Remote Locks, and Others. On the basis of application, the Global Smart Door Lock Market is segmented into Household, Commercial, and Others.  

Regional Insights:

On region the Global Smart Door Lock Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2021, North America is expected to hold a major share in the market. The region's growth is mostly attributable to the increased demand for sophisticated smart door locks in nations including the United States, Canada, and Mexico.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Smart Door Lock Market report based on device, contain, deployment and region:

Global Smart Door Lock Market, By Product 

• Electronic Cipher Locks
• Fingerprint Locks
• Remote Locks
• Others

Global Smart Door Lock Market, By Application

• Household
• Commercial
• Others

Global Smart Door Lock Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating the Global Smart Door Lock Market includes ASSA ABLOY Ltd., Samsung Electronics Co., Ltd., Allegion Plc., Kwikset Corp., MIWA Lock Co, Ltd., Master Lock Co, LLC, Guangdong Be-Tech Group Co, Ltd., Adel Ltd., August Home Inc., and Honeywell International Inc.

Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in August2022, Telstra touts proposed restructures ‘transparency’ and ‘flexibility’, in its newly released plan brochure, Telstra said the restructuring would create better transparency of its assets across its customer and infrastructure businesses, which would "allow management to increase efficiency and effectiveness".

• ASSA ABLOY Ltd.
• Samsung Electronics Co., Ltd.
• Allegion Plc.
• Kwikset Corp.
• MIWA Lock Co, Ltd.
• Master Lock Co, LLC.
• Guangdong Be-Tech Group Co, Ltd.
• Adel Ltd.
• August Home Inc.
• Honeywell International Inc