Smart Lock Market Size To Expand at a Notable CAGR Of 15.60% During 2024 - 2032

Market Research Future (MRFR) has published on the “Global Smart Lock Market”.

The Smart Lock market is estimated to register a CAGR of 15.60% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Smart Lock market—  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

Market Highlights

The global Smart Lock market is accounted for to register a CAGR of 15.60% during the forecast period and is estimated to reach USD 4,887.2 million by 2032.

The smart lock market refers to the industry and ecosystem surrounding the production, distribution, and use of electronic or digital locks that offer advanced features and connectivity capabilities. Smart locks are designed to provide convenient and secure access control for residential, commercial, and industrial applications. These locks typically utilize wireless Connectivity such as Wi-Fi, Bluetooth, or Zigbee to connect with smartphones, tablets, or other smart devices, allowing users to remotely control and monitor the lock's functionality. They often offer features such as keyless entry, remote access management, activity logs, and integration with smart home systems.

The smart lock market encompasses manufacturers that design and produce smart lock hardware, as well as software developers and platform providers that develop the accompanying mobile applications or cloud-based platforms for lock control and management. Additionally, the market includes distributors, retailers, and service providers involved in the sale, installation, and maintenance of smart lock systems. The growth of the smart lock market is driven by factors such as the increasing adoption of smart home technology, the desire for enhanced convenience and security, and advancements in wireless connectivity and IoT (Internet of Things) infrastructure.

Segment Analysis

The global Smart Lock market has been segmented based on lock type, connectivity, authentication method, and application area.

Based on Lock Type, the global Smart Lock market segmentation includes Deadbolt, Lever Handles, Padlock, and Others. The Lever Handles will be the majority share in 2022, contributing around 44% to the market revenue.

Based on the Connectivity, the global Smart Lock market segmentation is Bluetooth, Wi-Fi and NFC. NFC dominated the market in 2022.

Based on the Authentication Method, the global Smart Lock market segmentation is Keypads, Touch Based, Card Keys, and Others. Touch Based dominated the market in 2022.

Based on the Application Area, the global Smart Lock market segmentation is Commercial and Government. Commercial dominated the market in 2022.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Smart Lock Market Research Report

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The North America Smart Lock market accounted for ~36% in 2022. This reflects the region's substantial adoption of smart lock technology, driven by a growing demand for advanced security solutions and the integration of smart home technologies. The prevalence of smart locks in both residential and commercial settings contributes to North America's prominent position in the global smart lock market.

Key Findings of the Study

• The global Smart Lock market is expected to reach USD 4,887.2 million by 2032, at a CAGR of 15.60% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• ASSA Abloy AB, Allegion Plc, DormaKaba Holding AG, Master Lock Company LLC. are the key market players.