Global Electronic Smart Lock
Market Report
2025
Electronic Smart Lock Market size will be USD 2515.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 19.00% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Electronic Smart Lock Market Report 2024.
According to Cognitive Market Research, the global Electronic Smart Lock market size is USD 2515.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 19.00% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|---|
Global Electronic Smart Lock Market Sales Revenue | 121212 | $ 2515.2 Million | 121212 | 121212 | 121212 | 19% |
North America Electronic Smart Lock Market Sales Revenue | 121212 | $ 1006.08 Million | 121212 | 121212 | 121212 | 17.2% |
Europe Electronic Smart Lock Market Sales Revenue | 121212 | $ 754.56 Million | 121212 | 121212 | 121212 | 17.5% |
Asia Pacific Electronic Smart Lock Market Sales Revenue | 121212 | $ 578.5 Million | 121212 | 121212 | 121212 | 21% |
South America Electronic Smart Lock Market Sales Revenue | 121212 | $ 125.76 Million | 121212 | 121212 | 121212 | 18.4% |
Middle East and Africa Electronic Smart Lock Market Sales Revenue | 121212 | $ 50.3 Million | 121212 | 121212 | 121212 | 18.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Lock Type |
|
Market Split by Vertical |
|
Market Split by Communication Protocol |
|
Market Split by Unlocking Mechanism |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Report scope is customizable as we have a huge database of Electronic Smart Lock industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Electronic Smart Lock Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The market for electronic smart locks includes products with cutting-edge technology for protecting entry points in residences, commercial buildings, and other types of properties. These locks support connection with smart home ecosystems, remote access control, and keyless entry. Having features like remote monitoring, biometric verification, and access records offers more convenience and security than standard locks. Due to growing consumer adoption of smart home technologies and growing security concerns, the market has experienced significant expansion. Important market participants constantly innovate to satisfy changing customer wants, spurring rivalry and the creation of new products. In the upcoming years, it is anticipated that the market for electronic smart locks will grow even more due to the growing demand for IoT devices and connected homes.
Customers' use of smart technology is fueling the need for smart homes, and electronic smart locks are a vital entry point into this networked environment. These locks offer seamless interaction with other smart home devices, remote access control, and keyless entry. By providing ease, safety, and automation, they improve quality of life by letting homeowners easily control who can enter their houses from anywhere. Electronic smart locks are essential to converting conventional homes into contemporary, networked environments that meet homeowners' changing demands and tastes as smart home solutions become more widely used.
Traditional locks are becoming a source of security issues because of their easily exploited flaws. By including cutting-edge features like multi-factor authentication, access logs, and remote monitoring capabilities, electronic smart locks address these problems. By strengthening security, these advancements give homeowners more control over who can enter their houses and a better sense of peace of mind. Electronic smart locks offer real-time security updates and the ability to monitor entry and exit actions remotely. This allows for preemptive responses to possible threats. Homeowners may confidently embrace smart technology because their properties are fortified with strong security features that prevent unwanted access and intrusion.
Indeed, worries about possible hacking or security breaches continue despite the developments in smart lock technology. Manufacturers need to seriously consider putting strong cybersecurity safeguards in place toto resolve these vulnerabilities and preserve consumer confidence. To detect and address potential vulnerabilities, this calls for encryption techniques, frequent security updates, and stringent testing procedures. Additionally, encouraging openness on security protocols and giving users unambiguous instructions on recommended practices can improve security posture. Manufacturers that prioritize cybersecurity reduce the dangers associated with smart lock systems and show that they are committed to protecting consumer security and privacy in the increasingly linked world of smart home technologies.
The COVID-19 epidemic had a major effect on the electronic smart lock market. Lockdowns and social distancing measures made contactless solutions and home automation even more important. As a result, there was a rise in the demand for smart locks as people looked for ways to minimize physical interaction while increasing convenience and security. But initially, market expansion was constrained by economic and supply chain uncertainty. However, as the epidemic continued, the market changed, and producers innovated to satisfy changing customer demands. The need for integrated smart home ecosystems and the trend toward remote work further drove market expansion. Despite the early obstacles presented by COVID-19, the electronic smart lock market eventually proved resilient and saw development due to shifting customer priorities and behaviors.
We have various report editions of Electronic Smart Lock Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
In December 2023, The revolutionary Haven Lockdown System was developed by HavenLock Inc., a seasoned corporation with headquarters in Tennessee. They just announced the release of the Power G version of their smart locking system, which is suitable for use in businesses and schools.
(Source: https://havenlock.com/pressroom/)
Top Companies Market Share in Electronic Smart Lock Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The market for electronic smart locks is growing significantly in North America. Convenience, growing security concerns, and the growing use of smart home technologies by consumers are the main drivers of this expansion. Improvements in IoT technology, a strong infrastructure, and a high degree of customer awareness are important elements propelling growth. In this industry, the region is well-positioned to keep spearheading innovation and market expansion.
The Europe region is witnessing an increase, in the sales of reagents. Europe is seeing a significant increase in the market for electronic smart locks. The growing popularity of smart home technologies and growing worries about convenience and security are driving this expansion. The market is expected to grow at a rate determined by a number of factors, including governmental support, technology advancements, and rising consumer awareness of home automation. Europe is in a strong position to continue influencing the direction that smart lock technology takes.
The current report Scope analyzes Electronic Smart Lock Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global Electronic Smart Lock market size was estimated at USD 2515.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1006.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2031. The market for electronic smart locks is dominated by North America because to the region's sophisticated infrastructure and high level of customer awareness. The rising demand for home automation and security systems has a particular positive impact on the residential market. The region is experiencing substantial growth as a result of key firms consistently extending their product offerings and innovating. The market is expanding due to the incorporation of sophisticated features like remote access control and integration with smart home ecosystems. All things considered, North America continues to play a significant role in the global electronic smart lock market and is expected to continue growing in the near future.
Country Analysis
According to Cognitive Market Research, with a market value of USD 2515.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 17.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 754.56 million. Europe's market for electronic smart locks is expanding steadily, helped by the region's progressive laws and rising use of smart home technologies. The necessity for improved security and access control solutions by businesses is what makes the commercial market in Europe stand out. The need for electronic smart locks is growing as more European businesses place a premium on modernity and efficiency. Europe continues to be a major influence in determining the direction of smart lock technology, with a focus on sustainability and innovation. This region is expected to see significant growth and advancement in the years to come.
According to Cognitive Market Research, the global Electronic Smart Lock market size was estimated at USD 2515.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 578.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 21.0% from 2024 to 2031. The market for electronic smart locks is expanding quickly in the Asia Pacific area because to factors such rising disposable incomes, more urbanization, and increased consumer awareness of smart home technologies. Adoption in homes is especially high as homeowners want for security and convenience features. The industry is expected to grow significantly as major companies increase their investments in R&D and market growth. The market for electronic smart locks is anticipated to increase and present several prospects for innovation and expansion in the years to come as nations in the Asia Pacific area continue to adopt new technology.
According to Cognitive Market Research, the global Electronic Smart Lock market size was estimated at USD 2515.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 125.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.4% from 2024 to 2031. The market for electronic smart locks in Latin America is expanding as a result of growing middle class, growing urbanization, and growing security concerns. Although adoption in homes is more common, there is potential in the commercial sector as well, with companies looking for sophisticated access control solutions. The industry offers prospects for growth as a result of infrastructure development and technological improvements. Notwithstanding obstacles like unstable economies and intricate regulations, Latin America continues to be a favorable market for producers of electronic smart locks, with room to grow as more people and companies realize the advantages of smart home technology.
According to Cognitive Market Research, the global Electronic Smart Lock market size was estimated at USD 2515.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 50.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 18.7% from 2024 to 2031. The market for electronic smart locks is expanding in the Middle East and Africa due to factors such growing urbanization, growing security concerns, and a booming hospitality industry. The considerable usage in homes is a result of the rising demand for contemporary security solutions. Furthermore, smart lock makers have a lot of prospects in the commercial sector, especially in the hotel and tourism industries. The region's dedication to technical improvement and smart city efforts makes it a viable market for electronic smart locks, ready for sustained growth and innovation despite obstacles including limited infrastructure and unstable economies.
Global Electronic Smart Lock Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Electronic Smart Lock Industry growth. Electronic Smart Lock market has been segmented with the help of its Lock Type, Vertical Communication Protocol, and others. Electronic Smart Lock market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Deadbolt Locks held the major market share over the forecast period. Because deadbolt locks provide keyless entry and better security features, the market for electronic smart locks is expanding. Deadbolt locks now interact with smart home ecosystems thanks to technological improvements, enabling remote access management and monitoring. Electronic deadbolt lock use is driven by the convenience of keyless access and the growing need for better home security solutions, which is propelling the market's expansion.
Lever Handles is the fastest-growing category over the forecast period. An important factor contributing to the market expansion for electronic smart locks is lever handles. Lever handle smart locks with integrated cutting-edge technology provide keyless entry, remote access control, and smooth interaction with smart home automation. The use of electronic smart locks is being propelled by their convenience, accessibility, and increased security, which is fueling the market's global expansion.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electronic Smart Lock Industry. Request a Free Sample PDF!
According to Cognitive Market Research, Commercial, hold a prominent market share. The market for electronic smart locks is expanding due to the growing demand from the commercial sector for solutions related to access control and increased security. Businesses can benefit from keyless entry, remote access control, and security system integration with electronic smart locks. The increasing focus on security and efficiency in business spaces is driving the adoption of electronic smart locks, which is driving the market expansion.
Residential is the fastest-growing category over the forecast period. The market for electronic smart locks is expanding due in large part to the growing demand for home automation and improved security measures in the residential sector. Keyless entry, remote access control, and connection with smart home ecosystems are features offered to homeowners by electronic smart locks. The use of electronic smart locks is expanding as convenience and security become more important considerations in residential settings, which has led to market expansion.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, Bluetooth, held the major market share over the forecast period. Because Bluetooth technology makes it possible for smart locks and mobile devices to communicate seamlessly, the market for electronic smart locks is expanding. Users can increase convenience and security by using their cellphones to unlock doors with Bluetooth-enabled smart locks. Adoption is accelerated by this technology's ability to integrate with smart home devices and enable remote access control. Bluetooth's broad availability and compatibility play a part in its capacity to grow the market for electronic smart locks.
WiFi,is the fastest-growing category over the forecast period. The market for electronic smart locks is expanding due in large part to the availability of Wi-Fi connectivity, which allows for easy integration with smart home ecosystems and remote access control. Smart locks with WiFi capabilities improve security by monitoring in real time and enabling users to control access remotely through mobile devices. The market for electronic smart locks is growing as a result of the proliferation of Wi-Fi networks and the rising need for linked home solutions.
According to Cognitive Market Research, Keypad, held the major market share over the forecast period. By offering keyless entry solutions, keypad technology is driving the growth of the electronic smart lock market. Physical keys are no longer necessary when using keypad-enabled smart locks because users can enter codes to unlock doors. This technology appeals to both household and commercial customers because it provides flexibility, security, and ease of use. Keypad entry systems play an important function in propelling market progress because of their dependability and simplicity.
Card Key is the fastest-growing category over the forecast period. Card key technology is providing convenient access control solutions, which is driving the growth of the electronic smart lock market. Users can swipe or tap an RFID card or key fob to gain entry into a smart lock that is enabled for card keys. The market is expanding because of the popularity of this contactless technology in both home and business settings due to its improved security and ease of use.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Lock Type | Deadbolt Locks, Lever Handles, Server locks & Latches, Knob Locks, Others |
Vertical | Commercial, Residential, Institutional & Government, Industrial, Transportation & Logistic |
Communication Protocol | Bluetooth, WiFi, Z-Wave, Others |
Unlocking Mechanism | Keypad, Card Key, Touch Based, Key Fob, Smartphone Based |
List of Competitors | August Home Inc. (ASSA ABLOY), Avent Security, Cansec Systems Ltd., HavenLock Inc., Kwikset (Spectrum Brands Holdings Inc.), MUL-T-LOCK TECHNOLOGIES LTD. (ASSA ABLOY), Schlage (Allegion Plc), Zigbang Co. Ltd. (Previously Samsung SDS), Sentrilock LLC, Smart Locking Logic Proprietary Limited, UniKey Technologies Inc., Yale Locks (ASSA ABLOY), Goji, Onity Inc. (Carrier Global Corporation), Honeywell International Inc. |
This chapter will help you gain GLOBAL Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review Global Electronic Smart Lock Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review North America Electronic Smart Lock Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review Europe Electronic Smart Lock Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review Asia Pacific Electronic Smart Lock Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review South America Electronic Smart Lock Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Electronic Smart Lock. Further deep in this chapter, you will be able to review Middle East and Africa Electronic Smart Lock Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Electronic Smart Lock. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Lock Type Analysis 2019 -2031, will provide market size split by Lock Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Lock Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Vertical Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Communication Protocol Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Unlocking Mechanism Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Electronic Smart Lock market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Deadbolt Locks have a significant impact on Electronic Smart Lock market? |
What are the key factors affecting the Deadbolt Locks and Lever Handles of Electronic Smart Lock Market? |
What is the CAGR/Growth Rate of Commercial during the forecast period? |
By type, which segment accounted for largest share of the global Electronic Smart Lock Market? |
Which region is expected to dominate the global Electronic Smart Lock Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|