The global smart lock market is poised for unprecedented growth: according to Grand View Research, the market volume will climb from around 2.6 billion USD today to over 8.1 billion USD by 2030 – an average increase of 19.7% per year. The drivers are the widespread growth of the Internet and mobile communications infrastructure, increasing security awareness and the growing shift of everyday processes to smartphone apps. From simple retrofitting of existing deadbolt locks to multi-factor access solutions, smart locks now offer flexible, contactless and IoT-based security concepts for private and commercial customers.
The global smart lock industry is on the verge of a real boom: According to Grand View Research, the market will grow from around USD 2.6 billion (2024 estimate) to over USD 8,136.9 million in 2030, achieving a remarkable compound annual growth rate (CAGR) of 19.7% between 2025 and 2030. The main drivers of this rapid growth are the continuing increase in internet penetration in urban and rural areas, growing security awareness among private and commercial users, and the increasing shift of everyday processes to mobile devices.
Smart locks usually connect to smartphones, tablets or central control modules in the smart home ecosystem via Wi-Fi or Bluetooth. Deadbolt locks remain particularly widespread: in 2024, they accounted for 42.7% of sales, as they can be integrated into existing door systems with minimal effort and are often superior to conventional cylinder locks in terms of security. The residential sector accounts for the largest share of the overall market, as the increasing prevalence of smart home platforms and the ability to lock doors remotely via an app or grant temporary access authorisations strike a chord with security-conscious end consumers.
Bluetooth-based smart locks will also lead the technology segments in 2024: their offline functionality allows access via smartphone even without internet access, and their low energy consumption ensures long battery life. At the same time, authentication via smartphone app is becoming established – in addition to PIN codes and fingerprint sensors, it offers the highest level of user convenience and thus the largest share of sales. As a result, more and more manufacturers are investing in biometric features, multi-level authentication processes and the seamless logging of all access attempts.
The Covid-19 pandemic has slowed down the market in the short term: supply chain problems, border closures and a reluctance to invest during lockdowns led to delays in new installations in 2020. However, many providers responded quickly with price adjustments, expanded their product portfolios to include contactless operating functions and optimised their mobile apps to keep operations economically attractive. These innovation drives have strengthened the industry in the long term and laid the foundation for today’s growth.
The competitive environment is dominated by international corporations such as Assa Abloy (brands: Kwikset, Yale, Mul-T-Lock, August Home), Honeywell International (Onity), Allegion (Schlage) and Dormakaba. In addition, agile specialists such as Nuki Home Solutions, Danalock and Remotelock are conquering specific niches – whether through unique selling propositions such as particularly easy retrofitting or through specialised integration solutions for large commercial customers.
A consolidation phase is on the horizon for the coming years: cost reductions through mass production, regulatory requirements (e.g. EU standards on data protection and IT security) and the need for integration into comprehensive building management systems will intensify competition. Providers that combine modular platforms with open interfaces, multi-level authentication and services such as predictive maintenance will prevail in the long term. Facility managers, security experts and smart home integrators should therefore align their strategies with cloud-based, expandable ecosystems in order to sustainably exploit the opportunities of a market with a CAGR of almost 20%.
