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North America Residential Smart Lock Market Trends

Report ID: GMI10223
Published Date: Jul 2024
Report Format: PDF

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North America Residential Smart Lock Market Trends

In conjunction with replacing pin codes with fingerprint scanners and facial recognition for a more secure and innovative entry experience, the North American residential smart lock industry is expanding beyond basic security and convenience into the realm of personalization and smart home synergy.

Furthermore, Some smart locks are also evolving into mini smart home hubs, allowing control of lights, thermostats, or cameras directly from the lock's app. This trend appeals to the tech-savvy North American market and takes smart locks from simple keyless entry to a sophisticated control centre for a personalised and connected smart home.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for residential smart lock in North America reached USD 1.04 billion in 2023 and is anticipated to register 11% CAGR between 2024 and 2032, led by smart home integration.

The deadbolt residential smart lock industry size was 464.8 million in 2023 and is expected to grow at 11.3% CAGR through 2032, as it offers a high level of security for entry doors.

U.S. market held a revenue of USD 817.7 million in 2023 and is expected to reach USD 2.08 billion by 2032, driven by advancements in technology and increasing consumer demand for convenience.

ADT Inc, Alphabet Inc, Amazon.com, Inc, Apple Incorporation, Assa Abloy, Belkin International Incorporation, Comcast Corporation, Control4 Corporation, Ecobee Incorporation, and Honeywell International Inc. among others.