The global smart lock market size is estimated to reach USD 8,136.9 million by 2030, registering to grow at a CAGR of 19.7% from 2025 to 2030 according to a new report by Grand View Research, Inc. Key factors driving the growth of the smart lock market globally include increased global internet penetration, increased consumer awareness about advanced security systems, and higher reliance on mobile applications to make daily processes easier. Smart locks without power locks use Wi-Fi or Bluetooth to connect to other home appliances installed. Locks can be operated by a special power cord or by installing a smart lock app on the phone.The user can send temporary keys to people, giving them home access within a specified time. In addition, smart lock technology is easy to use and unique compared to conventional methods. For instance, security solutions with passwords, ID codes, machine keys, and code names are tedious to take care of and can potentially lead to theft or loss of data. Smart keys work on an IoT connection, which synchronizes with the user's smartphone to gain control. This smart lock feature makes it reliable, unique, and easy to use and strengthens its market presence.
During the first couple of quarters of 2020, the COVID-19 pandemic slowed the pace of new smart lock installations. Drastic changes such as cross-border trade prohibitions, economic uncertainty, restrictive standards necessitating temporary shutdowns of industrial facilities, and stay-at-home orders for the general public produced a difficult situation for the industry. Nonetheless, measures such as embedding touchless technologies into their products, developing mobile apps for performing operations, and offering products at lower pricing on the available modes helped businesses increase their ROI during these essential lockdown instances.
Smart Lock Market Report Highlights
• The deadbolt segment led the market with the largest revenue share of 42.7% in 2024, owing to its enhanced security features and easy integration into existing door systems.
• Based on application, the residential segment accounted for the largest market revenue share in 2024, owing to the increasing adoption of smart home ecosystems, rising awareness about home security, and the convenience of remote locking/unlocking.
• The Bluetooth segment accounted for the largest market share in 2024. Bluetooth-enabled smart locks are driven by their offline accessibility, low power consumption, and straightforward smartphone pairing.
• Based on authentication method, the smartphone-based segment accounted for the largest market revenue share in 2024.
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