Smart Door Lock Market Size, Share & Industry Analysis, By Type (Deadbolt, Lever Handles, Padlock, and Others), By Product (Biometric Door Locks (Face Recognition, Palm Recognition, Iris Recognition, Fingerprint Recognition, and Others), Smart Card Door Locks, Electric Strike Door Locks, Others), By Connecting Technology (Wi-Fi, Bluetooth, ZigBee, and Others), By Application (Residential, Hospitality, Commercials, Government, Retail, and Others), and Regional Forecast, 2024-2032

The global smart door lock market size was valued at USD 2.48 billion in 2023. The market is projected to grow from USD 2.91 billion in 2024 to USD 11.88 billion by 2032, exhibiting a CAGR of 19.2% during the forecast period. The U.S. Smart Door Lock Market is anticipated to grow significantly, reaching an estimated value of USD 2.78 billion by 2032, driven by Surging Investment in Smart City Initiatives and Industrial Projects.

The smart door lock market focuses on electronic locking mechanisms integrated with digital technologies for enhanced access control and convenience. These advanced locks leverage technologies, such as Bluetooth, Wi-Fi, Zigbee, RFID, and biometrics to enable users to remotely manage and monitor access to their properties via smartphones, key fobs, or access codes. These door locks offer a wide array of features, including keyless entry, remote lock & unlock, activity tracking, and integration with smart home technology, providing users with greater security and control over their premises. These locks represent a significant evolution from the traditional mechanical locks, offering users enhanced security, convenience, and flexibility. They incorporate advanced security measures, such as encryption, tamper detection, and multi-factor authentication to protect against unauthorized access attempts. Moreover, smart locks enable users to grant provisional access to visitors or service workers remotely, eliminating the need for physical keys and enhancing the overall security.

The market’s scope includes solutions provided by companies including Assa Abloy, Dormakaba Group, Godrej Group, Xiaomi, Inc., Honeywell International Inc., Legrand, SALTO Systems, S.L, Onity Inc., Allegion plc (Schlage), and Shenzhen Kaadas Intelligent Technology Co., Ltd. among others.

Furthermore, the COVID-19 pandemic accelerated the adoption of smart door locks as people sought contactless solutions for their home security. With an increased focus on hygiene and touchless interactions, smart locks gained traction for their convenience and safety features. Additionally, the rise in remote work increased the interest of individuals in smart automation, further driving the demand for smart door locks despite initial supply chain disruptions.

Impact of Generative AI

The Integration of AI in Smart Door Locks Solutions to Drive the Market Growth

Generative AI technology will be a game changer and revolutionary technology for smart home security and automation as it is a unique and innovative solution for existing smart home systems. Furthermore, the potential of generative AI in door lock systems, which is a part of home automation, is significant as AI will be able to inform homeowners about issues or security concerns quickly and efficiently. For instance,

• WELOCK, a smart home access solution provider from China, developed ‘AI.One’, a battery-operated AI-enabled smart lock that automatically locks or unlocks doors by validating the authorized or unauthorized access. The lock is fingerprint-enabled and can be accessed via a phone/remote. It is able to handle all kinds of weather conditions or power outages. It also comes with a voice recognition feature that supports Google’s Assistant and Amazon’s Alexa. Moreover, the smart lock complies with the U.S. and European standards.


• Additionally, in April 2022, Swiftlane, an American end-to-end smart technology solution provider, launched a voice-enabled door lock solution that can be integrated with door locks, parking gates, and garages. The company claimed that it is the only access control firm that provides an all-in-one cloud-based smart access solution with visitor & delivery management, face recognition, key card capabilities, a mobile unlock function, and an intuitive admin dashboard.

Thus, generative AI technology will revolutionize the smart door lock market by incorporating AI into the door lock systems.

Smart Door Lock Market Trends

Increasing Integration of Emerging Technologies With Door Locks to Fuel Market Growth

Biometric authentication methods, such as fingerprint recognition and facial recognition are at the forefront of this evolution. These advanced authentication mechanisms offer higher security by accurately identifying individuals based on unique biological traits. Biometric smart lock manufacturers including Assa Abloy and Salto Systems utilize sophisticated algorithms for scanning and matching fingerprint patterns or facial features, ensuring access control with utmost precision and reliability. For instance,

• In September 2023, Yale Home expanded its smart lock range with the release of the Yale Assure Lock 2 Touch and Yale Assure Lock 2 Plus. These locks include the brand's initial fingerprint smart lock and are compatible with the Apple home keys. Available in the U.S. via ShopYaleHome, Amazon, and Best Buy, they support up to 20 fingerprint registrations for effortless access, alongside touchscreen, app, voice assistant, Auto Lock, and traditional key functionalities (with keyed models).

Moreover, Artificial Intelligence (AI) is also making significant inroads into the door lock market, particularly in predictive analytics and behavior recognition. AI-powered door locks can analyze the user behavior patterns and detect anomalies to identify potential security threats or suspicious activities. For instance,

• In April 2023, Huawei unveiled the Huawei Smart Door Lock Series 2.0 at a product launch event in Shanghai. This upgraded version offers advanced security features and innovative technologies to enhance convenience and efficiency. The lock features AI 3D face recognition 2.0, improving unlocking speed by 20% and enabling unlocking in low-light conditions. Additionally, it includes a dual-engine AI fingerprint algorithm for easier unlocking, particularly for children and older adults.

Therefore, the increasing integration of biometrics, IoT, AI, and wireless communication technologies is accelerating the smart door lock market growth.

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Smart Door Lock Market Growth Factors

Surging Investment in Smart City Initiatives and Industrial Projects to Accelerate Market Growth

The market is poised for significant growth due to increasing investment in smart cities and industrial projects worldwide. Smart locks, equipped with advanced technologies, such as biometrics, RFID, and Bluetooth, offer enhanced security and convenience compared to the traditional lock-and-key systems. As cities and industries embrace digitalization and automation, the adoption of smart locks is expected to rise. In smart city initiatives, governments and companies are integrating IoT (Internet of Things) devices, including smart locks, into the infrastructure to improve efficiency, safety, and quality of life for citizens. Smart locks play a crucial role in securing residential and commercial buildings, public facilities, and critical infrastructure components, such as utility cabinets and access points. By leveraging features including remote access control and real-time monitoring, smart locks enable authorities to manage access more effectively and respond promptly to security threats or emergencies. For instance,

• In February 2023, Abode Systems introduced the Abode Lock, a device designed to convert latch-style deadbolts into smart locks effortlessly. This innovation aligns with Abode's smart home ecosystem and is compatible with standard deadbolts, facilitating an easy installation process without the need for replacing the key. Furthermore, users can benefit from the convenience and security features of a smart lock without altering their current setup.


• In November 2022, SALTO Systems unveiled SALTO Homelok, a platform tailored for residential use. This comprehensive solution incorporates smart access control technology, cloud software, hardware, digital keys, a smart living ecosystem, and global service support, thereby transforming residential living. Additionally, it offers a modern, user-friendly electronic locking solution, eliminating the expenses and intricacies of conventional access control solutions.

Therefore, surging investments in smart city and industrial projects, coupled with the growing demand for smart home automation, is expected to fuel the smart door lock market share.

RESTRAINING FACTORS

Interoperability, Compatibility, and Data Privacy Concerns to Impede Market Growth

Incompatibility between door locks and other connected devices, such as smart hubs and security cameras can limit their functionality and integration within the broader smart home ecosystem. For instance, a door lock lacking compatibility with popular smart home platforms, such as Amazon Alexa or Google Assistant may restrict users' ability to control locks via voice commands or create personalized routines. Similarly, interoperability challenges between door locks and home security systems may compromise the effectiveness of integrated security solutions, reducing their appeal to consumers. Furthermore, concerns regarding cybersecurity and data privacy pose significant hurdles to the adoption of smart door locks. With increased connectivity and reliance on cloud-based services, these locks are vulnerable to cyber threats, such as hacking and unauthorized access.

These barriers are expected to limit the widespread adoption of smart door locks during the forecast period.

Smart Door Lock Market Segmentation Analysis

By Type Analysis

Increasing Need for Robust Physical Security Features Fuels Adoption of Deadbolts

Based on type, the market is segmented into deadbolts, lever handles, padlocks, and others.

The deadbolt segment holds the highest share of the market due to its robust physical security features, including a solid metal bolt that goes deep into the door frame, providing superior resistance against forced entry. Additionally, deadbolt mechanisms often use advanced encryption and authentication protocols and enhancing digital security measures, making them a preferred choice among consumers seeking comprehensive protection for their smart home entrances.

The lever handle segment exhibits the highest CAGR in the market due to its ergonomic design, catering to individuals with mobility limitations or those seeking convenient access options. Lever handle mechanisms often use advanced wireless connectivity and biometric authentication features, thereby enhancing accessibility and security, and driving their adoption in residential and commercial settings.

By Product Analysis

Heightened Protection Requirement Against Unauthorized Entry Drives Adoption of Biometric Locks

Based on product, the market is divided into biometric door locks, smart card door locks, electric strike door locks, and others.

The biometric door lock segment dominates the market due to its advanced security features, leveraging biometric authentication methods, such as fingerprint recognition, facial recognition, palm recognition, and iris recognition for access control. These systems offer heightened protection against unauthorized entry, enhanced user convenience, and increased resistance to traditional security vulnerabilities, making them a preferred choice for consumers seeking cutting-edge security solutions for their homes and businesses.

The smart card door lock segment is demonstrating a significant CAGR in the market due to its advanced security features and flexibility. Utilizing RFID or NFC technologies, smart card locks offer secure access control through encrypted data transmission between the card and the lock, thereby enhancing security and convenience. Additionally, their ability to integrate with the existing access control systems in commercial and institutional environments will contribute to their growing adoption rate.

By Connecting Technology Analysis

Need for Remotely Managing and Monitoring Lock Status Boosts Demand for Bluetooth-Enabled Locks

Based on connecting technology, the market is segmented into Wi-Fi, Bluetooth, ZigBee, and others.

The Bluetooth segment holds the highest market share due to its widespread compatibility, low energy consumption, and seamless connectivity with smartphones and other smart devices. Utilizing the Bluetooth Low Energy (BLE) technology, these locks offer secure and convenient access control, allowing users to remotely manage and monitor their lock status via dedicated mobile applications. This will drive their dominance in the market.

The Wi-Fi segment exhibits the highest CAGR in the market due to its robust connectivity, enabling seamless integration with home automation systems and cloud-based platforms. Wi-Fi-enabled smart locks offer advanced features, such as remote access, real-time monitoring, and integration with voice assistants, thereby catering to the increasing demand for interconnected smart home ecosystems and enhancing user convenience and security. This factor will drive their adoption among consumers.

By Application Analysis

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Rising Adoption of Smart Home Technologies Surges Product Demand in Residential Applications

Based on application, the market is divided into residential, hospitality, commercial, government, retail, and others.

The residential application segment holds the highest share in the market due to the increasing adoption of smart home technologies and growing emphasis on home security and convenience. Smart door locks offer features, such as remote access, keyless entry, and integration with home automation systems, catering to the needs of homeowners seeking enhanced control and monitoring capabilities over their residential entrances. This factor is expected to drive their adoption and market dominance.

The commercial application segment demonstrates the highest CAGR in the market due to the rising demand for advanced access control solutions in commercial and institutional settings. The door locks offer features, such as keyless entry, biometric authentication, and integration with access control systems, enhancing security and operational efficiency of businesses, offices, and public facilities. This increased emphasis on security and access management will boost the demand for smart locks in commercial environments, thereby contributing to their high growth rate in the market.

REGIONAL INSIGHTS

The report includes market research across five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. These regions are further categorized into leading countries.

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The North American market holds the highest share, driven by the increasing penetration of smart home automation systems and rising concerns regarding physical security. The region boasts a mature market ecosystem with a strong presence of key industry players and an advanced technological infrastructure. Factors, such as the proliferation of Internet of Things (IoT) devices, integration with home automation platforms, and advancements in wireless communication technologies, including Bluetooth and Wi-Fi, will contribute to the regional market's expansion. Moreover, growing consumer awareness about the benefits of smart security solutions, such as remote access control, real-time monitoring, and integration with voice assistants and smart home ecosystems will fuel the adoption of smart door locks in residential and commercial applications throughout the region.

The Asia Pacific market is expected to witness the highest growth due to the region's rapid urbanization, increasing disposable income, and growing adoption of smart home technologies. Key drivers include the proliferation of Internet of Things (IoT) devices, advancements in wireless communication technologies, such as Bluetooth and Zigbee, and rising concerns about home security. Moreover, the expanding middle-class population and surging demand for convenience and automation will contribute to the regional market's expansion. Additionally, government initiatives promoting smart city development and the integration of smart technologies in residential and commercial infrastructures will further bolster the regional market growth.

The European market demonstrates steady growth driven by factors, such as the integration of door locks with home automation platforms, rise in smartphone penetration, and implementation of stringent security regulations and standards. Moreover, the region's emphasis on energy efficiency and sustainability will foster the development of eco-friendly smart door lock solutions. Additionally, the presence of established players and a well-developed infrastructure for technology adoption will further propel the market’s growth in Europe. With a focus on enhancing user convenience, improving security, and reducing energy consumption, the market will continue to evolve and expand across residential, commercial, and industrial sectors.

The South American and Middle Eastern & African markets are exhibiting promising growth prospects driven by factors, such as gradual adoption of smart home technologies, including smart door locks. This adoption is being propelled by advancements in wireless communication technologies, such as Bluetooth and Wi-Fi. Additionally, the need for enhanced access control solutions in residential and commercial buildings, coupled with rising consumer awareness about the benefits of smart security systems, will fuel the market growth in South America and the Middle East & Africa.

List of Key Companies in Smart Door Lock Market

Key Players to Launch New Products to Strengthen Market Positioning

The key market players are actively creating advanced solutions to cater to unique customer demands. They are also focusing on enhancing their existing product portfolio to deliver flexible solutions with unique attributes. Furthermore, these organizations are proactively pursuing collaboration, acquisitions, and partnerships to bolster their product offerings.

List of Key Companies Profiled:

• Assa Abloy (Sweden)


• Dormakaba Group (Switzerland)


• Godrej & Boyce Manufacturing Company Limited (Godrej Group) (India)


• Xiaomi, Inc. (China)


• Honeywell International Inc. (U.S.)


• Legrand (France)


• Allegion plc (Schlage) (U.S.)


• SALTO Systems, S.L (Spain)


• Onity Inc. (U.S.)


• Shenzhen Kaadas Intelligent Technology Co., Ltd. (China)

KEY INDUSTRY DEVELOPMENTS:

• In December 2023, SALTO Systems introduced the DBolt Touch deadbolt, offering a smart locking solution for upgrading mechanical deadbolt locks in the multifamily residential market. The solution delivers the desired functionality required by residents, operators, and access managers in multifamily housing by incorporating advanced technology.


• In December 2023, Godrej Locks announced its goal of securing a significant market share by FY 2025 and targeting a 10% revenue growth in the digital locks market for 2024. The company aims to dominate the market with plans to introduce over 25 new products.


• In September 2023, Yale unveiled a new lineup of home security solutions for Europe, including a video doorbell, upgraded smart alarm systems, and indoor/outdoor smart cameras that sync with its smart locks. The Yale Smart Video Doorbell offers 1080p footage, two-way audio, night vision, and motion detection alerts, enhancing doorstep security with comprehensive monitoring features.


• In August 2023, Onity revealed new product integrations for its Passport Locking Solution with SiteLink and storEdge, Facility Management Systems (FMS), from Storable, a software provider in the self-storage industry. This collaboration is expected to ensure seamless access and management of Passport self-storage unit smart locks, elevating the residents’ experience.


• In August 2023, Xiaomi introduced a new smart door lock with push-to-open functionality. The Xiaomi Smart Door Lock 2 has a complete automatic lock body that ensures softer operation compared to the previous models, allowing users to push the door after unlocking it. Additionally, the lock features a fingerprint scanner, NFC reader, Bluetooth connectivity, and app controls.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on vital aspects, such as leading companies, product/service types, and top applications of the product. Besides, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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