Smart Locks Market Revenue to Attain USD 14.28 Bn by 2033

19 Sep 2025

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Table of Content

1. Smart Locks Market Revenue and Trends 2025 to 2033 2. Emerging Trends and Growth Outlook in the Smart Locks Market   3. Segment Insights 4. Smart Locks Market Coverage 5. Regional Analysis  6. Smart Locks Market key Players

Smart Locks Market Revenue and Trends 2025 to 2033

The global smart locks market revenue reached USD 3.38 billion in 2025 and is predicted to attain around USD 14.28 billion by 2033 with a CAGR of 19.75%. Growing consumer demand for improved security and convenience is the key factor driving market growth. 

Emerging Trends and Growth Outlook in the Smart Locks Market  

The market refers to the industry division for electromechanical devices that replace conventional mechanical locks, enabling users to monitor access through electronic keypads, smartphones, biometric sensors, and other connected technologies. The market is experiencing significant growth, driven by the increasing demand for improved security through features such as alerts and monitoring, and enhanced convenience with keyless entry and remote access. Additionally, the surge in smart home ecosystems, combined with the increasing integration of the Internet of Things (IoT), is likely to further fuel market growth.

Segment Insights

• By lock type, the deadbolt locks segment dominated the market with a 40% share in 2024. The segment's dominance is attributed to the increasing demand for robust physical security and its ability to serve as a seamless retrofit solution.
• By technology, the Bluetooth-enabled smart locks segment held a 45% market share in 2024. This is mainly due to innovations in Bluetooth Low Energy (BLE) technology, which have enhanced energy efficiency and range, and security features.
• By authentication, the mobile app/smartphone-based segment dominated the market with a 50% share in 2024. The dominance of the segment can be attributed to the increasing adoption of smart homes and IoT technology, as well as a global surge in smartphone penetration.
• By application, the door segment held the largest market share of 60% in 2024. The dominance of the segment is attributed to growing consumer emphasis on improved security and convenience.
• By end-use industry, the residential segment dominated the market with a 55% share in 2024. This is primarily due to the increasing adoption of smart home technology and growing security concerns.
• By distribution, the offline sales segment held a 65% market share in 2024. The segment's dominance is attributed to growing consumer demand for robust security and the cost-effectiveness of new market entrants.

Smart Locks Market Coverage

Regional Analysis 

North America dominated the smart locks market by capturing a 40% share in 2024. The dominance of the region is attributed to the increasing popularity of smart home automation, coupled with the rising consumer need for improved home security. In addition, innovations in Internet of Things (IoT) technology enable smart locks to integrate smoothly with other smart home devices.

Asia Pacific is expected to grow at the fastest CAGR over the forecast period. The growth of the region can be attributed to increasing disposable incomes, the adoption of smart home devices, and higher smartphone penetration. Furthermore, the region's robust presence of smart lock producers and tech hubs, especially in China and South Korea, is likely to boost innovations in the market in the coming years.

Smart Locks Market key Players

• ASSA ABLOY AB (Yale, August)  
• Allegion plc (Schlage, LCN)  
• Dormakaba Holding AG  
• Spectrum Brands Holdings, Inc. (Kwikset, Weiser)  
• Samsung SDS  
• Honeywell International Inc.  
• Salto Systems S.L.  
• Master Lock (Fortune Brands Innovations)  
• Igloohome Pte Ltd.  
• HavenLock Inc.  
• Lockly Inc.  
• Nuki Home Solutions GmbH  
• Vivint Smart Home, Inc.  
• Den Smart Home  
• Xiaomi Corporation 

Recent Development 

• In September 2025, Dreame, a world leader in smart home innovation, officially entered the smart lock market at IFA Berlin 2025, expanding its smart home ecosystem with secure, connected door access solutions.(Source: https://fox40.com)

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