Smart Door Lock Statistics By Market Size, Usage, Brands and Trends
Updated · Jan 10, 2025
TABLE OF CONTENTS
Introduction
Smart Door Lock Statistics: Smart door locks have rapidly evolved as a cutting-edge solution in home and building security. They combine traditional locking mechanisms with advanced technologies like Bluetooth, Wi-Fi, and biometric authentication. These locks offer users the convenience of keyless entry, allowing doors to be locked or unlocked with a simple voice command, fingerprint scan, or smartphone app. With the ability to manage access remotely, smart door locks have become a popular choice for enhancing home security and automation. The rapid proliferation of smart locks in the US means they’ve now been installed by over 12 million households.
In recent years, the adoption of smart door locks has surged, with millions of units sold worldwide. These locks are now a common feature in both residential and commercial properties, offering enhanced security measures such as real-time alerts, access logs, and integration with other smart home devices. As technology continues to advance, smart door locks are expected to become even more sophisticated, incorporating features like facial recognition and advanced encryption, further solidifying their role in modern security systems.
Smart locks are the latest version of a traditional lock. They are fitted with a range of new technologies including Bluetooth and Wi-Fi, which permit users to lock and unlock doors with a single voice command or a touch. The increasing incidence of theft and burglary in urban areas is likely to boost the demand for novel lock solutions for doors, which will drive the market for smart door locks.
Editor’s Choice
- Smart locks are a key technology that enhances door security while offering convenience.
- Advanced technologies like Machine Learning (ML), Artificial Intelligence (AI), and the Internet of Things (IoT) are making smart doors possible.
- Smart doors let homeowners control access to their homes and buildings without using physical keys.
- These doors have advanced security features, such as two-factor authentication, tamper detection, and strong encryption, making it difficult for burglars to break in.
- According to Insight Partners, the Smart Door Lock market is expected to reach USD 2,733.05 million by the end of 2023 and is projected to grow to USD 6,309.13 million by 2028, with an annual growth rate of 18.2%.
- Fortune Business Insights predicts that the global market for smart door locks will reach USD 2.49 billion in 2023 and USD 8.21 billion by 2030, with an annual growth rate of 18.6%.
- According to Global News Wire, revenue from biometric sensors in smart doors is expected to reach USD 1.6 billion by 2023.
- Biometric sensors, along with other sensors like PIR motion sensors, image sensors, cameras, metal detectors, and audio modules, are commonly used in smart doors.
- The Automatic Doors Market is expected to grow to USD 7,390.33 million in 2023, with a CAGR of 6.75% from 2023 to 2027.
- By 2023, more than 12 million homes in the United States are expected to have smart doors, according to Mordor Intelligence.
- The growth of smartphones is driving the rise of connected devices like smart locks, which can be controlled remotely through mobile apps.
- There are 3.5 billion smartphone users globally, representing about 45.4% of the world’s population.
- Despite the growth, smart locks face challenges due to vulnerabilities to hacking and cyber threats. For instance, researchers found 11 security issues in Nuki smart locks in July, which could allow unauthorized access.
- Smart locks are not as widely adopted in the U.S. as other smart home devices. While 69% of U.S. households own at least one smart home device, only 10% have smart locks.
- Smart speakers are more popular than smart locks, with a 28% adoption rate in the U.S.
- The smart lock market in the U.S. is growing due to high consumer purchasing power and increasing safety concerns.
- Over 12 million homes in the U.S. already have smart locks installed.
- Smart locks use technologies like biometrics, Wi-Fi, Bluetooth, and radio frequency.
- Many people hesitate to adopt new technologies due to a lack of awareness and the cost of implementation.
- Smart city projects are expanding worldwide, increasing the demand for smart devices like smart locks to enhance security.
- Advanced smart home devices, including smart door locks and smart alarm systems, are becoming more popular due to their improved features.
- Wireless systems are gaining traction because they are easy to install.
- Smart access control systems in homes and cities contribute to energy efficiency.
- The Indian government launched the Smart Cities Mission (SCM) in June 2015, selecting around 100 cities for development between January 2016 and June 2018.
- As of November 2021, 6,452 projects under SCM were tendered, valued at USD 24 billion.
- Out of these, 5,809 projects worth USD 20 billion are either under implementation or have been completed.
- The ongoing government efforts to develop smart cities are expected to boost the smart lock market in the coming years.
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General Smart Door Lock Statistics
- In 2022, deadbolt smart locks led the market in sales due to their easy installation, low cost, durability, and good protection against break-ins.
- Companies like Kwikset are adding features to deadbolts like single-touch locking, low battery alerts, and personalized user codes to attract more customers.
- The lever handle segment is expected to grow by over 25% annually from 2023 to 2030, driven by the modernization of the hospitality sector.
- The padlock market is predicted to grow significantly due to the increasing global use of smart padlocks for high security, convenience, and smartphone connectivity.
- The residential sector made up over 60% of revenue in 2022, and this trend is expected to continue due to the rising adoption of smart home technologies and new construction projects.
- The hospitality sector is projected to grow by over 23% annually from 2023 to 2030, driven by the need for better in-room security and the adoption of keyless access devices.
- North America held around 39% of the market share in 2022, with strong growth expected due to advancements in smart lock technology and the rise of smart homes in the U.S.
- Asia Pacific is anticipated to grow by more than 25% annually from 2023 to 2030, driven by rapid growth in residential and commercial projects and smart city programs, especially in countries like India.
- The global smart lock market was valued at USD 2,366.51 million in 2020 and is expected to reach USD 14,972.3 million by 2030, growing at an annual rate of 20.1%.
- Approximately 11% of American homes (over 11 million households) currently have smart locks, though 73% of cybersecurity professionals would not install one due to hacking concerns.
- The market for interior residential doors is expected to grow from USD 55.7 billion in 2020 to USD 93.1 billion by 2030.
- The demand for doors grew by 2% in recent years and is expected to continue growing through 2024.
- Replacing an old door with a modern, energy-efficient door can reduce energy loss, which accounts for 20-30% of all heat loss from a house.
- Panel and sliding doors are the most popular styles for interior doors and will likely remain the top choices by 2030.
- About 30% of burglars enter homes through an unlocked door or window, and 34% use the front door.
- Around 70% of people forget to lock their doors when leaving home, and 60% have returned to find their door unlocked.
- Approximately 2 million people lock themselves out of their homes each year.
- Doors and windows account for 20-30% of all heat loss in a house, and energy-efficient doors can help reduce this loss.
- Replacing an old door with a solid core door made of wood, steel, or fiberglass can increase home security.
- Regularly replacing weatherstripping on doors can reduce energy leakage.
- Despite a 2% drop in the market for entry door remodeling and replacement, the overall demand for doors is expected to keep growing through 2024.
Smart Door Lock Market Size Forecast
- According to Mordor Intelligence, The Smart Lock Market is estimated to be worth USD 2.80 billion in 2024 and is expected to grow to USD 5.75 billion by 2029, with a CAGR of 15.40% during this period.
- The increase in smart home adoption, including features like remote access and voice control, is driving the growth of smart locks, particularly in residential areas.
- The growing need for enhanced home security without the hassle of carrying mechanical keys is making smart locks more popular among homeowners.
- Global expansion in smart home technology and the rise of businesses offering home automation solutions are further boosting demand for smart locks.
- Manufacturers are integrating smart locks with voice assistants, allowing for voice control, which is becoming increasingly popular among consumers.
- The rise in smartphone usage is aiding the growth of connected devices, enabling remote access to smart locks through mobile apps. Currently, there are 3.5 billion smartphone users globally, with a penetration rate of 45.4%.
- However, the market faces challenges due to the vulnerability of smart locks to hacking and cybercrime. For example, in July, security researchers identified 11 security issues in Nuki smart lock systems, raising concerns among users.
- The COVID-19 pandemic has negatively impacted investments in the ICT industry, including IoT and 5G technologies, leading to reduced operational expenses and lower sales of smart locks.
- Commercial adoption of smart locks is expected to grow significantly, driven by the need for secure and easy management of entry points in spaces like schools, churches, and hotels.
- The hospitality industry is rapidly adopting smart locks, such as Bluetooth or Wi-Fi-enabled locks, to enhance guest security and improve the customer experience.
- New smart lock launches targeted at businesses and office spaces are expected to have high growth potential due to the need for simplified access for authorized users.
- In the United States, smart lock adoption is less common compared to other smart home devices, with only 10% of households using them, presenting an opportunity for market players.
- Major U.S. smart lock manufacturers are expanding into European markets, with products like August Inc.’s Wi-Fi Smart Lock and Yale’s Linus Smart Lock offering advanced features like two-factor authentication and remote management.
- The increasing penetration of smartphones in the U.S. is contributing to the growth of connected devices, including smart locks, which can be managed remotely through mobile apps.
- A favorable regulatory environment and high purchasing power in the U.S. are driving the adoption of smart locks, with over 12 million homes already equipped with them.
- The Smart Lock Market is still in its early stages but offers significant growth opportunities. Key players like August Inc., Yale Locks & Hardware, and Allegion PLC are continually innovating to capture market share.
- Dormakaba acquired AtiQx Holding B.V. in February 2022 to expand its electronic access control business in the Netherlands.
- Wyze Lock Bolt, launched in April 2022, represents the latest security technology from Lockin, marking the third collaboration between Wyze and Lockin.
- A favorable regulatory environment for smart lock adoption has emerged, driven by customers’ high purchasing power and increasing safety concerns, especially in critical infrastructure and household settings. For example, more than 12 million homes in the U.S. have installed smart locks, reflecting their rapid adoption. Parks Associates recently published a whitepaper highlighting the growth of smart lock usage in the U.S. and the associated benefits.
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Biggest Producer Of the Smart Door Lock?
- ASSA ABLOY has a net worth of USD 27.26 billion.
- Samsung’s total revenue was USD 200.26 billion for the trailing twelve months, a decrease from the previous year’s USD 240.71 billion.
- Allegion’s market capitalization was USD 9.34 billion, with an enterprise value of USD 10.99 billion.
- Dormakaba Group reported net sales of CHF 1,419.8 million, with an adjusted EBITDA of CHF 184.6 million.
- Spectrum Brands saw revenue of USD 740.7 million for the quarter ending in September 2023.
- Master Lock’s annual revenue reached USD 750 million.
- Sargent and Greenleaf generated annual revenue of USD 32 million.
- Dessmann reported total revenue of INR 12,308 crores for the quarter ending on September 30th, 2023.
- MIWA Lock reported revenues of USD 5 million.
Rapid Technological Advances
The survey revealed that consumers rank thermostats, light doors, smart TVs, and video cameras among the top five gadgets they’d most want to control using a voice assistant. While some people express concerns regarding using voice assistants to give access to their homes, however, the majority of integrations do not permit voice-controlled unlocking. Instead, the voice assistants’ capabilities are limited to limiting entry, closing doors, and arming systems.
It’s now standard for businesses to connect the devices they sell with Amazon Alexa or Google Assistant. While the integrations to Apple HomeKit lag behind the other two major voice assistants, the majority of the major players have already integrated Siri voice-based assistance to door locks. To stay competitive, device makers must include voice control.
Be it established players or startup products dominate the market, smart access control and system makers are constantly pressured to stay ahead of the curve. Not only have previously innovative features become commonplace, however, but in some areas of access control, the prices are dropping. The median selling price for the smart door lock within the U.S. was $101 in the fourth quarter of 2021, a decrease from $133 a year before. Smart thermostats, video doorbells, and other smart home devices have seen similar price trends.
(Source: restechtoday.com)
Recent Developments
- Honeywell Acquisition: In October 2023, Honeywell acquired Singtel’s smart home business, which included a Zigbee-based smart lock system. This acquisition is set to strengthen Honeywell’s presence in the Asia-Pacific smart lock market, expanding its product portfolio and regional reach.
- Samsung Integration: In August 2023, Samsung integrated its SmartThings platform with several popular smart lock brands, including Schlage, Yale, and August Home. This integration allows users to control their smart locks through the SmartThings app, enhancing user convenience and security by enabling automated routines.
- Yale and Nuki Partnership: Yale, a well-known lock manufacturer, partnered with Nuki, a leading European smart lock provider, in October 2023. This partnership aims to combine Yale’s strong brand recognition with Nuki’s innovative technology, targeting a significant share of the European market.
- Himax and DESMAN Collaboration: In January 2024, Himax introduced new high-end smart door locks in collaboration with DESMAN at the Consumer Electronics Show (CES) 2024. This collaboration marks a significant advancement in smart home security technology, offering enhanced security features and convenience.
- Aqara Product Launch: Also in January 2024, Aqara, a prominent provider of smart home products, unveiled its new Smart Lock U300, alongside other innovative smart home solutions. This product launch highlights Aqara’s commitment to advancing smart home technology.
Conclusion
The need for better management of security has impacted both developing and developed economies, requiring them to guard against unknown threats like cyber-attacks or rivalries as well as other dangerous actions. The need to use smart locks which is a more modern security platform, is predicted to enhance the security of homes or commercial premises. The majority of consumers in the world have embraced smart lock technology to safeguard themselves against theft, which is anticipated to boost the market to grow.
Additionally, the increasing use of mobile applications that are cloud-based increases the market’s growth across the globe. Additionally, the rapid change in business models and expansion of companies create opportunities for the rapid expansion of the market for smart locks. However, the initial price and the fear of privacy invasion could impede the development of the market.
Saisuman is a talented content writer with a keen interest in mobile tech, new gadgets, law, and science. She writes articles for websites and newsletters, conducting thorough research for medical professionals. Fluent in five languages, her love for reading and languages led her to a writing career. With a Master’s in Business Administration focusing on Human Resources, Saisuman has worked in HR and with a French international company. In her free time, she enjoys traveling and singing classical songs. At Coolest Gadgets, Saisuman reviews gadgets and analyzes their statistics, making complex information easy for readers to understand.
