The Smart Locks Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Smart Locks Market?
The Smart Locks Global Market expanded quickly in the past few years. It is expected to increase from $2.66 billion in 2024 to $3 billion in 2025, with a compound annual growth rate (CAGR) of 12.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Smart Locks Industry?
The Smart Locks Global Market is projected to reach a size of $5.35 billion in 2029, expanding at a compound annual growth rate (CAGR) of 15.6%.
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What are the Key Growth Drivers Fueling the Smart Locks Market?
The key drivers in the smart locks market are:
• Government initiatives and regulations supporting the use of smart locks
• Expansion of e-commerce and online sales for smart locks
• Increasing integration with smart building solutions for enhanced security
• Growing interest in smart access control systems for businesses.
Global Market Segmentation: Identifying Major Smart Locks Industry Segments
The smart locks market covered in this report is segmented –
1) By Product: Deadbolts, Commercial, Padlocks, Other Products
2) By Communication Technology: Wi-Fi, Bluetooth, Zigbee, Z-Wave
3) By Authentication Method: Biometric, Pin Code, RFID Cards
4) By Application: Residential, Hospitality, Enterprise, Critical Infrastructure, Other Applications
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What are the Emerging Trends Shaping the Future of the Smart Locks Market?
The key trends in the leather goods market are:
• The trend towards customization and aesthetics in smart lock designs is gaining momentum.
• Energy-efficient design considerations are becoming increasingly important.
• There is a growing trend for the use of smart locks in rental properties.
• Developments in biometric authentication are shaping the future of the smart locks market.
Who Are the Top Competitors & Leading Players in the Smart Locks Market?
Major companies in the smart locks market are:
• Allegion PLC
• Assa Abloy AB
• August Home
• Cansec Systems Ltd
• Dorma + Kaba Holding AG
• Gantner Electronic GmbH
• HAVENLock
• Honeywell International Inc
• Master Lock Company LLC
• Onity Inc
• Salto Systems
• Samsung Electronics Co., Ltd
• Schlage
• Spectrum Brands Holdings, Inc
• UniKey Technologies Inc
• Vivint Inc
• Avent Security
• Goji
• SDS Smart Locks
• Panasonic Corporation
• DESSMANN
• The Chamberlain Group, Inc
• Kaadas
• Kwikset
• Techlicious LLC
• Godrej Group
• Adel Marketing (M) Sdn. Bhd
Regional Dominance: Which Area Leads the Global Smart Locks Market?
North America was the largest region in the smart locks market in 2024
