Smart Lock Market By Product Type (Single Cylinder Smart Lock, Double Cylinder Smart Lock, Deadbolt Smart Lock, Lever Smart Lock, Touchscreen Smart Lock, Hybrid Smart Lock, Keyless Entry Smart Lock, Integrated Smart Lock Systems), By Communication Protocol (Bluetooth, Wi-Fi, Zigbee, Z-Wave, Near Field Communication, Radio Frequency Identification, Others), By Authentication Method (Password, Biometric, Smartphone Application, Smart Cards, Voice Recognition, Key Fobs, PIN Codes, Virtual Keys.), and By Application (Residential {Individual Household, Commonhold}, Commercial {Hospitality, Healthcare, Banking & Financial Institutes, Enterprise, Critical Infrastructure, Educational Institution}, Industrial {Manufacturing, Energy & Utilities, Oil & Gas}, Transportation & Logistics, Institutional & Government, Others.), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Smart Lock Market accounted for USD 2.95 Billion in 2024 and is expected to reach USD 32.0 Billion by 2035, growing at a CAGR of around 24.2% between 2025 and 2035. The Smart Lock Market refers to the sector, which makes use of available technology such as Bluetooth, Wi-Fi, or biometrics for non-key operations and access remotely. As such, these locks deliver security, usability, distance control, and monitoring solutions and are therefore perfect for both homes and businesses. Smart locks are also networked with other IoT devices, including home security systems and voice control technology, as the convergence of connected home solutions demands continues to expand. This market is indexed by the increasing security concerns in our homes, the new age trend in the use of IoT, and the increasing fashion of automation. In addition, new technologies incorporated in fingerprint identification, mobile application management, and controls, along with cloud compatibility, are boosting smart lock efficiency. The hotel and food services sectors, as well as the real estate market, continue to increase their use.

Report Scope:

Market Dynamics

Rising demand for connected home devices boosts the adoption of smart locks for enhanced security.

The Smart Lock Market is expanding as a result of the growing demand for smart devices to improve home security and interoperability with smart home systems. The smart locks offer features such as real-time access and monitoring control.

With increasing numbers of smart speakers, thermostats, and cameras in homes, smart locks have become one of the integral parts of a smart home. The U.S. Department of Energy estimates that smart devices are creeping into homes; with over 30 million U.S. households using smart security systems, this makes the demand for smart locks inevitable for safety and ease.

Increased crime rates drive the need for advanced security solutions like smart locks.

The rise in crime has compelled homeowners to look for better ways to secure their houses, and smart locks are among the options that are becoming more popular. This is driving the expansion of the Smart Lock Market. Today’s smart locks come equipped with options such as remote control, alerts, and various other keyless solutions, boosting the security level of houses compared to traditional locks. Furthermore, these gadgets facilitate the management of who has access to the residence. UCR reported that property crime reached 6.9 million in 2020 in the US, making it paramount for homeowners to install the latest security features, such as smart locks, to enhance security and prevent home invasion.

Higher price points than traditional locks may limit market penetration in cost-sensitive regions.

The high cost of smart locks compared to standard locks remains one of the main constraints to Smart Lock Markets. Although smart locks include several clever features, including remote control, biometrics, and keyless entry, their initial expenses include purchase and installation fees. This price difference may deter buyers from choosing smart locks in places where the cost of utilizing the device is a top concern. However, they also incur monthly, annual, and one-time expenses for software updates, system maintenance, and other technical and non-technical problems. Customers may easily convert from smart locks to more traditional, basic locks for security; therefore, this pricing barrier hinders them.

The increasing use of voice assistants like Alexa and Google Home presents opportunities for voice-controlled smart locks.

The growing availability of smart devices such as Amazon’s Alexa and Google’s Home is a significant opportunity for the Smart Lock Market. As voice-activated technology becomes more commonplace, people are looking for easy ways to control smart home appliances like locks. Smart locks controlled with voice add more comfort to the customers as they can lock or unlock the doors with the help of voice, while the security of the house or the office remains preserved. This hands-free control is ideal for tech-savvy consumers who want to access their favorite programs quickly. This growth in the use of voice assistants also creates opportunities for smart lock producers to create products that are compatible with these platforms, which in turn would fuel the growth of the Smart Lock Market.

Smart locks with remote access capabilities offer safety solutions for elderly and disabled individuals.

By improving safety solutions for the elderly and disabled communities, smart locks with remote access capabilities present a substantial opportunity for the Smart Lock Market. Such smart locks allow caregivers, relatives, or any trusted individuals to lock or unlock doors remotely, thus having easier access and higher efficiency without the need for any physical keys. For older or physically impaired people who have limited mobility, this type of value is especially helpful. In these situations, access management via a cell phone or other internet-enabled device is incredibly reassuring and motivating. Furthermore, smart locks can give caregivers real-time logs and notifications regarding users' activity, letting them know who is entering and leaving the residence. This led to the emergence of the smart lock trend, which considers both use and safety, particularly in light of the world's aging population.

Industry Experts Opinion

“Smart locking systems can help seniors when family members are checking in on them since they don’t need a key—just a password, code, or the ability to unlock the system from an app,”

• Haisam Sourchi, regional general manager for Alavida Lifestyles, which operates senior living communities in Ottawa, Canada.

Segment Analysis

Based on the Product Type, the Smart Lock Market has been classified into Single Cylinder Smart Lock, Double Cylinder Smart Lock, Deadbolt Smart Lock, Lever/Knob Smart Lock, Touchscreen Smart Lock, Hybrid/Combination Smart Lock, Keyless Entry Smart Lock, Integrated Smart Lock Systems. The keyless entry smart lock segment is the largest in the Smart Lock Market. Brought about by customer requests for increased accessibility and protection, keyless entry systems do not require physical keys and include options for application management, voice and fingerprint recognition, and vehicle access from a distance. These locks are often seen in houses because of their ease of use and interoperability with other smart home gadgets. Their main benefit is touch-free access, which makes them the market leaders.

Based on the Lock Type, the Smart Lock Market has been classified into Deadbolts, Lever Handles, Padlocks, Knob Locks, Rim/Mortise Locks, Cam Locks, Euro Profile Cylinder Locks, and Others. The Deadbolts segment is the largest in the Smart Lock Market. Deadbolt locks are available for both the inside and the outside, providing inhabitants with outstanding security by preventing forceful entry from the outside. Smart technology, when applied to deadbolts, provides remote capabilities, touchless options, and advanced code settings. Used commonly in locking main doors and easily compatible with many smart locking systems, this type of lock is the most popular in the given market segment, especially in regions where demand for home and business security is high.

Regional Analysis

The North American Smart Lock Market is primarily driven by the United States, which has high customer demand for enhanced security systems and the overall booming smart home market sector. Smart locks are convenient when connected to other smart home products, including home security systems and voice-active assistants. Canada is also growing, particularly in the urban areas where the market for smart homes is rapidly expanding. Features such as biometric control, mobile application control, and keyless entry systems are beginning to ‘pop up’ more frequently. Nonetheless, North America is still the largest Smart Lock Market, as well as having a high degree of investment in R&D and the technology of smart locks.

The United States Smart Lock Market share is the highest due to increasing consumer interest in high-security solutions and popularizing smart home systems. Smart locks, originally introduced before other smart things that control the electrical appliances in the home, now make up part of a system and can also be connected to a wide variety of smart systems, like voice assistants, security systems, or smartphone applications. In recent years, the general trend of home automation and convenience, safety, and security considerations have provided an impetus for smart locks. Some of the features, such as keyless access, geofencing, and biometric recognition, are becoming popular among American consumers. Moreover, the major technology players and startups in America have propelled the Smart Lock development process.

The European Smart Lock Market is growing rapidly, with considerable penetration in countries such as the United Kingdom, Germany, and France. It is fueled by the necessity of home security and the trends for smart homes, where consumers want products that can be both installed and operated as one system. The region also enjoys a favorable regulatory environment ready to encourage the use of smart home technologies and energy-saving solutions. New innovative smart lock solutions, including the usage of mobile applications and biometric identification to control the lock, or compatibility with home automated systems, are contributing to the growth of the market. However, consumer confidence may be impacted by privacy concerns and local laws governing data handling. Europe is still one of the biggest Smart Lock Markets, and its consumption rate is staying relatively steady while being driven up by rising demand from both business and residential consumers.

Germany's Smart Lock Market is leading in Europe due to its focus on security and technology integration and smart home systems. Germany is one of the world's most active markets for smart home systems, so it employs smart locks that don't require traditional key usage and can have increased security modes in addition to security for the convenience of businesses and homeowners. New techniques are commonly used, such as remote access, biometric identification, and connecting to home automation systems. The industrial and technological base of the country is also favorable to the development of a Smart Lock Market.

Competitive Landscape

The Smart Lock Market has a large number of competitors, and major players in the market are ASSA ABLOY AB, Allegion plc, and Dormakaba Group. These companies offer a range of innovative solutions, including remote controls, keyless entry, biometric locks, and systems that work with smart homes. SALTO Notable market players are Yale Locks & Hardware, Samsung SDS, and Panasonic Corporation, who tend to put their technological experience into the development of intelligent lock capabilities. Along with Level Home Inc., other start-ups are developing LUKAS, Nuki Home Solutions, and Lockly. Therefore, ongoing research and development as well as regional expansion efforts to increase market share foster competitiveness.

Smart Lock Market, Company Shares Analysis, 2024

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Recent Developments:

• In April 2023, ASSA ABLOY Group, a global leader in access solutions, completed a unique assignment in South Africa to enhance the security of businesses and homes worldwide with its smart lock solution.
• In March 2023, HavenLock Inc., a Tennessee-based veteran organization and developer of the Haven Lockdown System, announced the launch of a Power G version of its smart locking system, designed for school and commercial security.

Report Coverage:

By Product Type

• Single Cylinder Smart Lock
• Double Cylinder Smart Lock
• Deadbolt Smart Lock
• Lever Smart Lock
• Touchscreen Smart Lock
• Hybrid Smart Lock
• Keyless Entry Smart Lock
• Integrated Smart Lock Systems

By Communication Protocol

• Bluetooth
• Wi-Fi
• Zigbee
• Z-Wave
• Near Field Communication
• Radio Frequency Identification
• Others

By Authentication Method

• Password
• Biometric
• Smartphone Application
• Smart Cards
• Voice Recognition
• Key Fobs
• PIN Codes
• Virtual Keys

 

By Application

• Residential
  • Individual Household
  • Commonhold
• Commercial
  • Hospitality
  • Healthcare
  • Banking & Financial Institutes
  • Enterprise
  • Critical Infrastructure
  • Educational Institution
• Industrial
  • Manufacturing
  • Energy & Utilities
  • Oil & Gas
• Transportation & Logistics
• Institutional & Government
• Others

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of the Middle East & Africa

List of Companies:

• ASSA ABLOY AB
• Allegion plc
• dormakaba Group
• Spectrum Brands Holdings, Inc.
• SALTO Systems, S.L.
• U-TEC Group Inc.
• Yale Locks & Hardware
• Samsung SDS
• Panasonic Corporation
• The Master Lock Company
• Godrej Group
• Nuki Home Solutions
• Netatmo
• Lockly
• Level Home Inc.

Frequently Asked Questions (FAQs)