Smart Lock Market
Smart Lock Market Analysis by Deadbolt Smart Locks, Lever Handle Smart Locks, and Smart Padlocks for Residential, Hospitality, Enterprises, and Critical Infrastructure from 2023 to 2033
Analysis of Smart Lock Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Smart Lock Market Outlook (2023 to 2033)
The global smart lock market size is forecasted to expand at a high-value CAGR of 16% from 2023 to 2033. In light of this trend, worldwide sales of smart locks are set to increase from US$ 5 billion in 2023 to US$ 22.06 billion by the end of 2033.
Smart locks are advanced, electronic locking systems designed to provide secure and convenient access control to homes, businesses, and other properties. They replace traditional mechanical locks and keys with digital technology. Smart locks allow users to lock and unlock doors without the need for physical keys. Instead, they typically use methods such as PIN codes, smartphone apps, keycards, or biometrics (fingerprint or facial recognition) for access.
Many smart locks can be controlled remotely through a smartphone app or a web interface. This feature enables users to monitor and control their locks from anywhere with an internet connection. Smart locks are gaining popularity due to the convenience and enhanced security they offer. They are often used in residential properties, vacation rentals, commercial buildings, and any place where controlled access is essential.
Some of the smart locks are deadbolts, lever handles, and padlocks. Deadbolt smart locks accounted for a revenue share of over 46% in 2022 and this segment is projected to maintain its dominance in the industry in the coming decade. The immense growth can be attributed to its mounting deployment across the residential sector owing to plentiful benefits such as ease of use as well as a durable locking mechanism.
Deadbolt smart locks offer a high level of security compared to traditional locks. The added digital features, such as encryption and real-time monitoring, make it difficult for intruders to tamper with or pick the lock. This added security is a strong selling point, especially for homeowners and businesses looking to protect their property.
- Kwikset, one of the key market players, is combining advanced deadbolts with built-in features such as low battery warning, one-touch locking, and customizable user codes into its portfolio, ultimately enticing a vast user base.
| Report Attributes | Details |
|---|---|
| Smart Lock Market Size (2023E) | US$ 5 Billion |
| Forecasted Market Value (2033F) | US$ 22.06 Billion |
| Global Market Growth Rate (2023 to 2033) | 16% CAGR |
| Leading Regional Market | North America |
| Key Companies Profiled | Assa Abloy AB; Allegion PLC; Dorma + Kaba Holding AG; Spectrum Brands Holdings Inc.; Salto Systems S.L.; Onity Inc.; Cansec Systems Ltd.; Gantner Electronic GmbH; Master Lock Company LLC; MIWA Lock Co.; Samsung Electronics Co. Ltd.; Amadas Inc.; Sentrilock LLC; Avent Security; Dessmann |
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Why are Smart Locks Gaining Popularity Worldwide?
“IoT- and AI-integrated Locks Making Homes and Public Structures Smarter”
Smart lock technology can make life simpler for professionals as well as crack the emerging last-mile delivery problem. Many innovations today are aiming to make homes smarter and everyday life easier, now achievable due to superior data analytics and the advent of artificial intelligence (AI) and the Internet of Things (IoT). The augmented penetration of smart devices in residential and commercial properties is boosting the growth of the smart lock market.
Consumer awareness about smart devices and the convenience they offer is significantly influencing the smart lock market growth. The shift in respective government's focus on the digitization of public and private sector infrastructure acts as a central driver for smart lock sales.
High connectivity of smart devices in public, private, and residential infrastructure is generating simultaneous demand for smart locks. In the smart lock market, there are many divergent product designs with different operational characteristics as well as many active competitors. Enhanced security, safety, and monitoring of properties for theft prevention is enabling the deployment of advanced smart lock systems.
“Innovations Redefining User Experience and Enhancing Power of Smart Locks”
Technological advancements in home and office security systems have set new benchmarks with the installation of functions such as voice controls, and fully keyless, app integration. These functions are offering extensive growth opportunities for smart lock manufacturers across the globe.
- Voice Controls: Voice assistants including smart speakers, such as Amazon Echo and Google Home, are witnessing rapid adoption in homes. Security device manufacturers are introducing their offerings compatible with these devices, facilitating the devices to be voice-controlled.
- Fully Keyless: Smart locks come with conventional keys so that homeowners can gain entry even if power is out. Kwikset, a manufacturer in Lake Forest, California, provides a smart lock that operates with a 9 V battery, eliminating the need for customers to carry keys.
- App Integration: While customers may like to have multiple types of smart home devices, they are less likely to enjoy having to use separate smartphone apps for separate device types. Initially, this was a common requirement, but increasingly, end users can use a single app to control multiple smart devices, including smart locks.
Users can easily lock or unlock their smart locks from their smartphone apps, granting them unparalleled convenience and peace of mind. This is particularly beneficial for homeowners who want to monitor and manage access to their property while away from home.
Many smart lock apps offer features like real-time notifications, allowing users to receive alerts when someone enters or exits their property. This real-time feedback enhances the sense of security and control.
Which Factors are Barriers for Both Consumers and Smart Lock Producers?
“High Initial Cost of Smart Locking Systems”
Smart locks generally come with high upfront costs compared to traditional lock and key systems. The cost includes not only the smart lock itself but also any additional components or accessories, such as a hub for remote access or a Wi-Fi bridge.
Initial investment can be a deterrent for consumers who are budget-conscious or price-sensitive, as it may represent a significant expense, especially when considering the purchase and installation of multiple locks for various entry points in a home or business.
“Data Collection and Privacy Issues and Cyber Theft Risks”
Collection of user data and potential vulnerabilities in smart lock systems is a critical concern that can have far-reaching implications for both individuals and organizations. Smart locks often collect and store data related to user access, including entry and exit times, who entered or exited, and how they gained access (e.g., PIN code, smartphone app, or biometrics). This data can be sensitive and may raise privacy concerns, as it provides insight into the movements and activities of individuals within a property.
Users may be worried about who has access to this information and how it is being used. Smart lock systems, like any connected device, are susceptible to cybersecurity vulnerabilities. These vulnerabilities can be exploited by malicious actors, potentially leading to unauthorized access to a property. Weak passwords, unpatched software, and inadequate encryption are common points of vulnerability that could compromise the security of smart lock systems.
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How Can New Companies Change the Competitive Game in This Market?
“Focus on Advanced Security Features and Customization”
New entrants can primarily focus on innovative features and unique selling points. This could include introducing advanced security measures, integrating with emerging technologies, or offering customization options that set their products apart from established competitors.
“Competitive Pricing to Attract Price-sensitive Customers”
Offering smart locks at a competitive price point can also be a winning strategy for new companies. Price-conscious consumers are always on the lookout for cost-effective options, and this can help newcomers acquire a high market share.
“Niche Marketing Securing High-Profit Slice”
New companies can also identify and target specific niche markets, such as vacation rental property owners, small businesses, or senior living facilities. Tailoring products and marketing efforts to meet the unique needs of these segments can lead to better sales.
Country-wise Analysis
As per a detailed study by Fact.MR, a market research and competitive intelligence provider, the smart lock market is growing in the United States, Germany, and Japan, driven by different factors in each country. These factors range from technological preferences to cultural values and urbanization trends, all contributing to the growth of the market in these countries.
What Dynamics are Driving the Profits of Smart Lock Suppliers in the United States?
“Home Automation Trends Increasing Adoption of Smart Locks”
The United States is witnessing significant growth in the adoption of smart home technologies. Smart locks are an integral part of this trend, offering convenience and security. The desire for interconnected and automated homes is driving smart lock sales in the United States.
Why are Energy-efficient Smart Locks Highly Popular in Germany?
“Focus on Quality and Sustainability Pushing Sales of Eco-friendly Smart Locks”
German consumers highly value the quality and reliability of their products. Smart locks, with advanced security features and durable designs, align with these preferences. Germany's focus on sustainability extends to its technology choices. Energy-efficient smart locks and those with reduced environmental impact resonate with environmentally conscious consumers.
Why are Digital Locks Gaining Momentum in Japan?
“Growing Demand for Easy and Safe Smart Locks among Senior Citizens”
Japan's expanding aging population is propelling the need for secure and easy-to-use home access solutions. Smart locks with biometric features, such as fingerprint recognition, cater to this demographic. Safety and privacy are paramount in Japan. Smart locks provide a sense of security and control over who enters the home.
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Category-wise Analysis
While smart locks are gaining significant popularity in residential settings due to their convenience and security features, their demand is also predicted to rise in commercial settings during the next 10 years. The ability to offer advanced access control and integrate with existing security systems is making smart locks a compelling choice for businesses looking to enhance their security measures.
What is the Primary Application of Smart Locks?
“Growing Trend of Smart Homes Driving Use of Smart Locks”
Smart locks are experiencing significant usage in residential settings. Their growing adoption is closely associated with the global proliferation of smart homes and a surge in new construction and renovation projects in recent years.
Rising affordability of contemporary security solutions, including motion detectors, door/window sensors, and remote door access control, is expected to propel adoption even further. Emergence of locks compatible with technologies such as ZigBee, Z-Wave, and BLE is also gaining popularity, particularly in mass-market residential applications, thus appealing to a diverse customer base.
Competitive Landscape
Key manufacturers of smart locks are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their presence. Leading smart lock manufacturers are also continuously investing in research and development initiatives to introduce innovative features and designs.
- In March 2023, Tennessee's HavenLock Inc., known for its innovative Haven Lockdown System, introduced a new Power G smart lock designed for school and commercial use.
- In February 2023, Sentrilock, a top provider of real estate electronic lockbox solutions, announced a partnership with the Chesapeake Bay and Rivers Association of REALTORS® (CBRAR) to establish a smart electronic lockbox marketplace for REALTORS®.
- In February 2022, Dormakaba acquired AtiQx Holding B.V., enhancing its core operations and services in the Netherlands.
- In September 2021, ASSA Abloy signed a definitive agreement to acquire the Hardware and Home Improvement (“HHI”) division of Spectrum Brands for a purchase price of MUSD 4300 on a cash and debt-free basis.
- In February 2021, Allegion Plc. introduced the new Schlage Ease™ range of smart locks that are easy to install and use, but with maximum features. These locks are available in either deadbolt or entry lock versions and offer affordable style, convenience, and security with modern smart functionality for any home.
Key Segments of Smart Lock Market Research
-
By Type :
- Deadbolt Smart Locks
- Lever Handle Smart Locks
- Smart Padlocks
-
By Technology :
- Wi-Fi
- Bluetooth
- Zigbee
- Z-Wave
-
By Application :
- Residential
- Hospitality
- Enterprises
- Critical Infrastructure
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Table of Content
- 1. Global Market - Executive Summary
- 2. Global Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Consumer Behavior Measurement
- 6. Key Success Factors
- 7. Global Market Size (US$ Mn) And Volume (‘000 Units) Analysis And Forecast, 2018 to 2033
- 8. Global Pricing Point Analysis
- 9. Global Market Value & Volume Analysis And Forecast 2018 to 2033
- 9.1. Global Market Value & Volume Analysis 2018 to 2022 And Forecast 2023 to 2033, By Type
- 9.1.1. Deadbolt
- 9.1.2. Lever Handles
- 9.1.3. Padlock
- 9.1.4. Others
- 9.2. Global Market Value & Volume Analysis 2018 to 2022 And Forecast 2023 to 2033, By Application
- 9.2.1. Residential
- 9.2.2. Hospitality
- 9.2.3. Enterprise
- 9.2.4. Critical Infrastructure
- 9.2.5. Others
- 9.3. Global Market Value & Volume Analysis 2018 to 2022 And Forecast 2023 to 2033, By Region
- 9.3.1. North America
- 9.3.2. Latin America
- 9.3.3. Europe
- 9.3.4. East Asia
- 9.3.5. South Asia & Oceania
- 9.3.6. MEA
- 9.1. Global Market Value & Volume Analysis 2018 to 2022 And Forecast 2023 to 2033, By Type
- 10. North America Market Value & Volume Analysis And Forecast 2018 to 2033
- 11. Latin America Market Value & Volume Analysis And Forecast 2018 to 2033
- 12. Europe Market Value & Volume Analysis And Forecast 2018 to 2033
- 13. East Asia Market Value & Volume Analysis And Forecast 2018 to 2033
- 14. South Asia & Oceania Market Value & Volume Analysis And Forecast 2018 to 2033
- 15. Middle East & Africa Market Value & Volume Analysis And Forecast 2018 to 2033
- 16. Global Market - Emerging Countries Analysis
- 17. Country Analysis - Market Analysis 2018 to 2022 And Forecast 2023 to 2033
- 18. Competitive Assessment
- 19. Company Profiles
- 19.1. ASSA ABLOY AB
- 19.2. Allegion Plc
- 19.3. Dorma+Kaba Holding AG
- 19.4. Spectrum Brands Holdings, Inc.
- 19.5. Salto Systems S.L.
- 19.6. Onity, Inc.
- 19.7. Cansec Systems Ltd.
- 19.8. Gantner Electronic GmbH
- 19.9. Master Lock Company LLC
- 19.10. MIWA Lock Co.
- 19.11. Samsung Electronics Co., Ltd.
- 19.12. Amadas Inc.
- 19.13. Sentrilock, LLC
- 19.14. Avent Security
- 19.15. Dessmann
- 20. Fact.MR Research Methodology
- 21. Disclaimer & Contact Information
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List Of Table
Table 01: Global Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 02: Global Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 03: Global Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 04: Global Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 05: Global Market Value (US$ Mn) and Volume ('000 Units) Analysis by Region, 2018 to 2022
Table 06: Global Market Value (US$ Mn) and Volume ('000 Units) Forecast by Region, 2023 to 2033
Table 07: North America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 08: North America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 09: North America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 10: North America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 11: North America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 12: North America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 13: Latin America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 14: Latin America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 15: Latin America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 16: Latin America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 17: Latin America Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 18: Latin America Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 19: Europe Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 20: Europe Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 21: Europe Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 22: Europe Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 23: Europe Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 24: Europe Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 25: East Asia Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 26: East Asia Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 27: East Asia Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 28: East Asia Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 29: East Asia Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 30: East Asia Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 31: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 32: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 33: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 34: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 35: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 36: South Asia & Oceania Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 37: MEA Market Value (US$ Mn) and Volume ('000 Units) Analysis by Country, 2018 to 2022
Table 38: MEA Market Value (US$ Mn) and Volume ('000 Units) Forecast by Country, 2023 to 2033
Table 39: MEA Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 40: MEA Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 41: MEA Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 42: MEA Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 43: China Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 44: China Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 45: China Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 46: China Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 47: India Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 48: India Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 49: India Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 50: India Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 51: Mexico Market Value (US$ Mn) and Volume ('000 Units) Analysis by Type, 2018 to 2022
Table 52: Mexico Market Value (US$ Mn) and Volume ('000 Units) Forecast by Type, 2023 to 2033
Table 53: Mexico Market Value (US$ Mn) and Volume ('000 Units) Analysis by Application, 2018 to 2022
Table 54: Mexico Market Value (US$ Mn) and Volume ('000 Units) Forecast by Application, 2023 to 2033
Table 55: US Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 56: US Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 57: Canada Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 58: Canada Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 59: Brazil Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 60: Brazil Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 61: Argentina Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 62: Argentina Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 63: Germany Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 64: Germany Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 65: France Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 66: France Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 67: Italy Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 68: Italy Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 69: Spain Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 70: Spain Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 71: U.K. Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 72: U.K. Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 73: BENELUX Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 74: BENELUX Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 75: Russia Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 76: Russia Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 77: Japan Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 78: Japan Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 79: South Korea Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 80: South Korea Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 81: Thailand Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 82: Thailand Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 83: Indonesia Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 84: Indonesia Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 85: Malaysia Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 86: Malaysia Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 87: Australia & New Zealand Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 88: Australia & New Zealand Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 89: GCC Countries Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 90: GCC Countries Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 91: Turkey Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 92: Turkey Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 93: South Africa Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 94: South Africa Market Demand Analysis & Forecast by Application, 2018 to 2033
Table 95: Egypt Market Demand Analysis & Forecast by Type, 2018 to 2033
Table 96: Egypt Market Demand Analysis & Forecast by Application, 2018 to 2033
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List Of Figures
Figure 01: Global Market Historical Volume ('000 Units), 2018 to 2022
Figure 02: Global Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 03: Global Market Historical Value (US$ Mn), 2018 to 2022
Figure 04: Global Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 05: Global Market Absolute $ Opportunity, 2023 to 2033
Figure 06: Global Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 07: Global Market Y-o-Y Projection by Type, 2022 to 2033
Figure 08: Global Market Attractiveness by Type, 2023 to 2033
Figure 09: Global Market Absolute $ Opportunity - Non-Woven, 2018 to 2033
Figure 10: Global Market Absolute $ Opportunity - Woven, 2018 to 2022
Figure 11: Global Market Absolute $ Opportunity - Others, 2018 to 2022
Figure 12: Global Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 13: Global Market Y-o-Y Projection by Application, 2022 to 2033
Figure 14: Global Market Attractiveness by Application, 2023 to 2033
Figure 15: Global Market Absolute $ Opportunity - Road Construction, 2018 to 2033
Figure 16: Global Market Absolute $ Opportunity - Erosion Prevention, 2018 to 2022
Figure 17: Global Market Absolute $ Opportunity - Drainage, 2018 to 2033
Figure 18: Global Market Absolute $ Opportunity - Others, 2018 to 2022
Figure 19: Global Market Value Share & BPS Analysis by Region- 2018, 2023 & 2033
Figure 20: Global Market Analysis by Region, 2022 to 2033
Figure 21: Global Market Analysis by Region, 2023 to 2033
Figure 22: Global Market Absolute $ Opportunity - North America, 2018 to 2033
Figure 23: Global Market Absolute $ Opportunity - Latin America, 2018 to 2033
Figure 24: Global Market Absolute $ Opportunity - Europe, 2018 to 2033
Figure 25: Global Market Absolute $ Opportunity - East Asia, 2018 to 2033
Figure 26: Global Market Absolute $ Opportunity - South Asia & Oceania, 2018 to 2033
Figure 27: Global Market Absolute $ Opportunity - MEA, 2018 to 2033
Figure 28: North America Market Historical Volume ('000 Units), 2018 to 2022
Figure 29: North America Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 30: North America Market Historical Value (US$ Mn), 2018 to 2022
Figure 31: North America Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 32: North America Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 33: North America Market Y-o-Y Projection by Country, 2022 to 2033
Figure 34: North America Market Attractiveness by Country, 2023 to 2033
Figure 35: North America Market Absolute $ Opportunity - U.S., 2018 to 2033
Figure 36: North America Market Absolute $ Opportunity - Canada, 2018 to 2022
Figure 37: North America Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 38: North America Market Y-o-Y Projection by Type, 2022 to 2033
Figure 39: North America Market Attractiveness by Type, 2023 to 2033
Figure 40: North America Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 41: North America Market Y-o-Y Projection by Application, 2022 to 2033
Figure 42: North America Market Attractiveness by Application, 2023 to 2033
Figure 43: Latin America Market Historical Volume ('000 Units), 2018 to 2022
Figure 44: Latin America Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 45: Latin America Market Historical Value (US$ Mn), 2018 to 2022
Figure 46: Latin America Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 47: Latin America Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 48: Latin America Market Y-o-Y Projection by Country, 2022 to 2033
Figure 49: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 50: Latin America Market Absolute $ Opportunity - Brazil, 2018 to 2033
Figure 51: Latin America Market Absolute $ Opportunity - Mexico, 2018 to 2022
Figure 52: Latin America Market Absolute $ Opportunity - Rest of Latin America, 2018 to 2022
Figure 53: Latin America Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 54: Latin America Market Y-o-Y Projection by Type, 2022 to 2033
Figure 55: Latin America Market Attractiveness by Type, 2023 to 2033
Figure 56: Latin America Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 57: Latin America Market Y-o-Y Projection by Application, 2022 to 2033
Figure 58: Latin America Market Attractiveness by Application, 2023 to 2033
Figure 59: Europe Market Historical Volume ('000 Units), 2018 to 2022
Figure 60: Europe Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 61: Europe Market Historical Value (US$ Mn), 2018 to 2022
Figure 62: Europe Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 63: Europe Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 64: Europe Market Y-o-Y Projection by Country, 2022 to 2033
Figure 65: Europe Market Attractiveness by Country, 2023 to 2033
Figure 66: Europe Market Absolute $ Opportunity - Germany, 2018 to 2033
Figure 67: Europe Market Absolute $ Opportunity - Mexico, 2018 to 2022
Figure 68: Europe Market Absolute $ Opportunity - U.K., 2018 to 2022
Figure 69: Europe Market Absolute $ Opportunity - Spain, 2018 to 2033
Figure 70: Europe Market Absolute $ Opportunity - BENELUX, 2018 to 2022
Figure 71: Europe Market Absolute $ Opportunity - Russia, 2018 to 2022
Figure 72: Europe Market Absolute $ Opportunity - Rest of Europe, 2018 to 2022
Figure 73: Europe Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 74: Europe Market Y-o-Y Projection by Type, 2022 to 2033
Figure 75: Europe Market Attractiveness by Type, 2023 to 2033
Figure 76: Europe Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 77: Europe Market Y-o-Y Projection by Application, 2022 to 2033
Figure 78: Europe Market Attractiveness by Application, 2023 to 2033
Figure 79: East Asia Market Historical Volume ('000 Units), 2018 to 2022
Figure 80: East Asia Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 81: East Asia Market Historical Value (US$ Mn), 2018 to 2022
Figure 82: East Asia Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 83: East Asia Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 84: East Asia Market Y-o-Y Projection by Country, 2022 to 2033
Figure 85: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 86: East Asia Market Absolute $ Opportunity - China, 2018 to 2033
Figure 87: East Asia Market Absolute $ Opportunity - Japan, 2018 to 2022
Figure 88: East Asia Market Absolute $ Opportunity - South Korea, 2018 to 2022
Figure 89: East Asia Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 90: East Asia Market Y-o-Y Projection by Type, 2022 to 2033
Figure 91: East Asia Market Attractiveness by Type, 2023 to 2033
Figure 92: East Asia Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 93: East Asia Market Y-o-Y Projection by Application, 2022 to 2033
Figure 94: East Asia Market Attractiveness by Application, 2023 to 2033
Figure 95: South Asia & Oceania Market Historical Volume ('000 Units), 2018 to 2022
Figure 96: South Asia & Oceania Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 97: South Asia & Oceania Market Historical Value (US$ Mn), 2018 to 2022
Figure 98: South Asia & Oceania Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 99: South Asia & Oceania Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 100: South Asia & Oceania Market Y-o-Y Projection by Country, 2022 to 2033
Figure 101: South Asia & Oceania Market Attractiveness by Country, 2023 to 2033
Figure 102: South Asia & Oceania Market Absolute $ Opportunity - India, 2018 to 2033
Figure 103: South Asia & Oceania Market Absolute $ Opportunity - Thailand, 2018 to 2022
Figure 104: South Asia & Oceania Market Absolute $ Opportunity - Indonesia, 2018 to 2022
Figure 105: South Asia & Oceania Market Absolute $ Opportunity - Malaysia, 2018 to 2022
Figure 106: South Asia & Oceania Market Absolute $ Opportunity - Australia & New Zealand, 2018 to 2022
Figure 107: South Asia & Oceania Market Absolute $ Opportunity - Rest of South Asia & Oceania, 2018 to 2022
Figure 108: South Asia & Oceania Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 109: South Asia & Oceania Market Y-o-Y Projection by Type, 2022 to 2033
Figure 110: South Asia & Oceania Market Attractiveness by Type, 2023 to 2033
Figure 111: South Asia & Oceania Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 112: South Asia & Oceania Market Y-o-Y Projection by Application, 2022 to 2033
Figure 113: South Asia & Oceania Market Attractiveness by Application, 2023 to 2033
Figure 114: MEA Market Historical Volume ('000 Units), 2018 to 2022
Figure 115: MEA Market Volume ('000 Units) Forecast, 2023 to 2033
Figure 116: MEA Market Historical Value (US$ Mn), 2018 to 2022
Figure 117: MEA Market Value (US$ Mn) Forecast, 2023 to 2033
Figure 118: MEA Market Value Share & BPS Analysis by Country- 2018, 2023 & 2033
Figure 119: MEA Market Y-o-Y Projection by Country, 2022 to 2033
Figure 120: MEA Market Attractiveness by Country, 2023 to 2033
Figure 121: MEA Market Absolute $ Opportunity - GCC Countries, 2018 to 2033
Figure 122: MEA Market Absolute $ Opportunity - Turkey, 2018 to 2022
Figure 123: MEA Market Absolute $ Opportunity - South Africa, 2018 to 2022
Figure 124: MEA Market Absolute $ Opportunity - Northern Africa, 2018 to 2022
Figure 125: MEA Market Absolute $ Opportunity - Rest of MEA, 2018 to 2022
Figure 126: MEA Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 127: MEA Market Y-o-Y Projection by Type, 2022 to 2033
Figure 128: MEA Market Attractiveness by Type, 2023 to 2033
Figure 129: MEA Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 130: MEA Market Y-o-Y Projection by Application, 2022 to 2033
Figure 131: MEA Market Attractiveness by Application, 2023 to 2033
Figure 132: China Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 133: China Market Y-o-Y Projection by Type, 2022 to 2033
Figure 134: China Market Attractiveness by Type, 2023 to 2033
Figure 135: China Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 136: China Market Y-o-Y Projection by Application, 2022 to 2033
Figure 137: China Market Attractiveness by Application, 2023 to 2033
Figure 138: India Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 139: India Market Y-o-Y Projection by Type, 2022 to 2033
Figure 140: India Market Attractiveness by Type, 2023 to 2033
Figure 141: India Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 142: India Market Y-o-Y Projection by Application, 2022 to 2033
Figure 143: India Market Attractiveness by Application, 2023 to 2033
Figure 144: Brazil Market Value Share & BPS Analysis by Type- 2018, 2023 & 2033
Figure 145: Mexico Market Y-o-Y Projection by Type, 2022 to 2033
Figure 146: Mexico Market Attractiveness by Type, 2023 to 2033
Figure 147: Mexico Market Value Share & BPS Analysis by Application- 2018, 2023 & 2033
Figure 148: Mexico Market Y-o-Y Projection by Application, 2022 to 2033
Figure 149: Mexico Market Attractiveness by Application, 2023 to 2033
Figure 150: US Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 151: US Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 152: Canada Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 153: Canada Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 154: Brazil Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 155: Brazil Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 156: Argentina Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 157: Argentina Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 158: Germany Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 159: Germany Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 160: France Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 161: France Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 162: Italy Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 163: Italy Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 164: Spain Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 165: Spain Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 166: U.K. Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 167: U.K. Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 168: BENELUX Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 169: BENELUX Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 170: Russia Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 171: Russia Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 172: Japan Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 173: Japan Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 174: South Korea Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 175: South Korea Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 176: Thailand Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 177: Thailand Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 178: Indonesia Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 179: Indonesia Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 180: Malaysia Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 181: Malaysia Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 182: Australia & New Zealand Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 183: Australia & New Zealand Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 184: GCC Countries Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 185: GCC Countries Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 186: Turkey Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 187: Turkey Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 188: South Africa Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 189: South Africa Market Demand Analysis and Forecast by Application, 2023 & 2033
Figure 190: Egypt Market Demand Analysis and Forecast by Type, 2023 & 2033
Figure 191: Egypt Market Demand Analysis and Forecast by Application, 2023 & 2033
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- FAQs -
How much is the smart lock market pegged at in 2023?
The global smart lock market is valued at US$ 5 billion in 2023.
What are the sales projections for smart locks by 2033?
By the end of 2033, sales of smart locks are projected to reach US$ 22.06 billion.
What is the future of smart locks and the market?
Global demand for smart locks is projected to increase at a CAGR of 16% from 2023 to 2033.
What are the weaknesses of smart locks?
As technology advances, risks of hacking increase, posing a significant threat to both users and manufacturers of smart locks.
Are smart locks safe in 2023?
Smart locks, compatible with standard deadbolts, offer enhanced security and convenience, making them a popular choice in today’s world.
Smart Lock Market