Press release
Key Trend Reshaping the Smart Locks Market in 2025: Technological Advancements Reshape The Smart Lock Market
Smart Locks Market Size
The smart locks market is predicted to expand with the rising number of both residential and commercial projects. Residential projects encompass buildings intended for living purposes, while commercial projects include buildings rented out for business purposes. Both these types of projects are increasingly opting for smart locks as they offer enhanced security through various technologies. For example, in November 2023, the Office of National Statistics in the UK reported that total new work had escalated by £18,161 million. This significant rise, comprising growth in both the private sector by 16.8% and the public sector by 13.1%, signifies the increasing number of both residential and commercial projects. Consequently, this uptick in projects is contributing to the advancement of the smart locks market.
Get Your Smart Locks Market Report Here:
https://www.thebusinessresearchcompany.com/report/smart-locks-global-market-report
What is the projected compound annual growth rate (CAGR) of the smart locks market from 2025 to 2034, and what factors influence it?
The market for smart locks has witnessed a significant expansion in recent years. The size of the market, which was $2.66 billion in 2024, is projected to reach $3 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.7%. The historic growth of this sector is due to factors such as improved affordability of the products, advancements in design and aesthetics, a surge in residential and commercial construction, increased use of smartphones, and a rising consumer desire for convenience.
In the coming years, a substantial increase is projected for the smart locks market, as it's poised to reach a valuation of $5.35 billion by 2029, rising at a compound annual growth rate (CAGR) of 15.6%. This anticipated growth during the forecasted period can be traced back to a number of factors. These include the influence of government mandates and plans, the proliferation of e-commerce and digital sales, integration into smart building solutions, focus on energy conservation and sustainability, and expanded interest in intelligent access control for enterprises. Key trends observed during this period are the customization and aesthetic appeal, power-saving design essences, smart locks specifically for rental accommodations, an emphasis on straightforward installation processes, and the sophistication of biometric authentication.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6866&type=smp
How are the latest trends influencing the growth of the smart locks market?
The rise of technological innovation is a notable trend gaining traction in the smart lock industry. Main players in this sector are heavily invested in devising novel technological solutions to address customer needs. For example, in November 2022, Yale Home India, a firm based in India that manufactures digital locks, introduced the Yale YDM7220 BioSecure that utilizes ioSecure technology. This system is a smart lock outfitted with superior technology, designed to ensure that every touchpoint in your home is consistently sanitized and cleaned to minimize microbial pollution and disease transmission.
What are the major segments of the smart locks market and their role in driving growth?
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
Subsegments:
1) By Deadbolts: Keyless Deadbolts, Biometric Deadbolts, Smart Deadbolt With Keypad
2) By Commercial: Electronic Keypad Locks, Smart Access Control Systems, RFID Locks, Keyless Entry Systems For Businesses
3) By Padlocks: Bluetooth Padlocks, Smart Combination Padlocks, Biometric Padlocks
4) By Other Products: Smart Door Handles, Smart Garage Door Locks, Smart Lockboxes
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6866
Which regions are key players in the growth of the smart locks market?
North America was the largest region in the smart locks market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart locks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the smart locks market?
Major companies operating in the smart locks market include 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., U-tec Group Inc., Vivint Inc., Avent Security., Goji., SDS Smart Locks., Mul-T-Lock., Panasonic Corporation., Guangdong Be-Tech Security Systems., DESSMANN., The Chamberlain Group, Inc., Kaadas., Kwikset., Techlicious LLC., Godrej Group., Adel Marketing (M) Sdn. Bhd.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=6866&type=smp
What Is Covered In The Smart Locks Global Market Report?
•Market Size Forecast: Examine the smart locks market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart locks market for a structured understanding.
•Key Players Overview: Analyze major players in the smart locks market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart locks market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart locks market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart locks market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart locks market.
•Competitive Landscape: Review strategic developments in the smart locks market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Key Trend Reshaping the Smart Locks Market in 2025: Technological Advancements Reshape The Smart Lock Market here
News-ID: 3884686 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Lock
SwitchBot Lock Pro: Lock in convenience and lock out hassles
Introducing SwitchBot Lock Pro: Upgrade your home security effortlessly. Quick installation, fingerprint access, 15 unlocking methods, and seamless Apple Home integration for $119.99.
SwitchBot is excited to introduce its newest creation - SwitchBot Lock Pro [https://us.switch-bot.com/products/switchbot-lock-pro]. This advanced smart lock is designed to make your life easier and your home more secure by offering a range of features that combine the latest technology with everyday convenience. Whether you're a homeowner looking…
Padlock Smart Lock Market Is Booming Worldwide | Master Lock Company, MIWA Lock, …
Advance Market Analytics published a new research publication on "Padlock Smart Lock Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Padlock Smart Lock market was mainly driven by the increasing R&D spending across the world. Some of the key…
Lock Washers Market Future Trends, Business Opportunities And Forecast (2022-202 …
World Lock Washers Market was valued at $XX million in 2021, and research analysts predict the global market size will reach $XX million by the end of 2027, growing at a CAGR of XX% between 2022 and 2027.
The study encompasses an elaborate analysis of the global Lock Washers market in terms of historical data and latest trends to evaluate its growth in the forthcoming years. The report includes the years…
Lock Washers Market 2022 Status and Business Outlook - Disc-Lock, HEICO-LOCK, Gr …
The research report studies the Lock Washers market using different methodologies and analyzers to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each place is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The data analysts have used primary and secondary…
Lock Washer Market -NORD-LOCK, Disc-Lock, Schnorr, Shakeproof, Tiger-Tight, Midw …
Lock Washer Market Overview:
Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Lock Washer market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region.
The Global Lock Washer market Report provides a detailed analysis of the current dynamics of the market with an extensive focus on the secondary research. It also studies current situation of the market estimate, share, demand, development…
Global Digital Door Lock Systems Market 2018 - Stone Lock, Adel Lock, Kwikset, S …
Apex Market Research, recently published a detailed market research study focused on the "Digital Door Lock Systems Market" across the global, regional and country level. The report provides 360° analysis of "Digital Door Lock Systems Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Digital Door Lock Systems industry, and estimates the…
