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Smart Lock Market Share

Report ID: GMI7627
Published Date: Feb 2024
Report Format: PDF

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Smart Lock Market Share

Major companies operating in the market are Allegion plc, Assa Abloy, Dormakaba, and Spectrum Brands, Inc., accounting over 60% market share in the year 2023. The major market players are focusing on mergers & acquisitions, facility expansion, and strategic partnerships to expand their product offerings, customer reach, and enhance market presence. Companies are also focusing on acquisition strategy.

Smart Lock Market Companies

Major players operating in the smart lock industry include:

Allegion plc
Assa Abloy
Avent Security
August Home Inc.
Cansec Systems Ltd.
Dormakaba
Honeywell International Inc.
Onity Inc.
Salto Systems S.L.
Schlage
Spectrum Brands, Inc.
U-tec Group Inc.
UniKey Technologies, Inc.
Yale Locks

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Smart lock industry size was worth USD 17.5 billion in 2023 and is projected to exhibit over 12.7% CAGR from 2024 to 2032 driven by the expansion of smart home adoption along with the rising consumer preference for integrated and automated solutions for living spaces.

Smart deadbolt lock market reached significant share in 2023 and is poised to witness high demand through 2032 attributed to their robust security features

North America held more than 30% share of the smart lock industry in 2023 and will witness expansion through 2032 owing to the rising technology advancements and the widespread adoption of smart homes, especially in the U.S.

Some major smart lock companies are Allegion plc, Assa Abloy, Avent Security, August Home Inc., Honeywell International Inc., Cansec Systems Ltd., Dormakaba, Onity Inc., Salto Systems S.L., Spectrum Brands, Inc., UniKey Technologies, Inc., and Yale Locks, among others.