Smart Lock Market Companies Analysis, Company Profiles, Strategic Developments, Mergers, Product Innovations, Revenue Insights, and Future Forecasts

Global Smart Lock Market Size and Forecast 2025-2033

The global smart lock market is anticipated to record healthy growth, increasing from US$3.12 billion in 2025 to US$11.77 billion by 2033. This surge represents a CAGR of 18.05% during the forecast period of 2025-2033. Increasing demand for sophisticated security solutions, rapid penetration of smart home technologies, and rapid developments related to IoT connectivity, among others, are the key growth factors here. Smart locks have been revolutionizing security systems in both residential and commercial fields globally.

A smart lock is an advanced, electronically controlled locking system that enables users to lock and access doors using digital means rather than a traditional mechanical key. These locks commonly operate through smartphones, Bluetooth, Wi-Fi, keypads, or biometric authentication, such as fingerprints. Smart locks enhance convenience, improve security features, and provide homeowners and businesses with remote access to monitor entries, set alerts, and seamlessly permit temporary or scheduled access to specified individuals. Many of these models integrate with larger smart home ecosystems, permitting voice control and automation through platforms such as Amazon Alexa, Google Home, and Apple HomeKit.

With the rise of smart homes, increasing security-related apprehensions, and advancement in IoT technologies, smart locks have gained significant momentum all over the world. These devices combine safety, convenience, and modern functionality that make them increasingly popular among consumers. In the commercial segments, including hospitality, coworking spaces, and vacation rentals, smart locks facilitate seamless operations via digital check-in processes and centralized access management. As urbanization increases and people look for more efficient solutions based on technology, smart locks are fast becoming one of the mainstream security options for people globally, thus making them one of the fastest-growing security solutions in both developed and emerging markets.

Top Manufacturers

Allegion plc.

Founded: 2013

Headquarters: Ireland

Allegion Plc (Allegion) is a security products and solutions provider. The company's major activities include manufacturing and selling a portfolio of security and access control products, comprising door controls and systems, exit devices, software-enabled access control systems, doors and accessories, locks, locksets, portable locks and key systems, electronic security products, and time, attendance, and workforce productivity systems. Allegion has various brands such as CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. The company sells its products and solutions to end-users in commercial, institutional, and residential facilities, which also include various segments such as education, healthcare, government, hospitality, retail, commercial office, and single and multi-family residential markets. The company operates in Asia-Pacific; the Middle East, Europe, Africa; and the American regions.

Avent

Founded: 1984

Headquarters: United States of America

Avnet Inc (Avnet) is a distributor of electronic components and IT solutions. The company's product portfolio includes semiconductors, industrial automation components, test and measurement kits, interconnects, and passive and electromechanical components. Avnet serves original equipment manufacturers, original design manufacturers, and electronic manufacturing service providers. It supplies products through an e-commerce channel. The company provides its products to a wide range of industries such as aerospace and defense, automotive and transportation, communications, energy, healthcare institutions, home and building automation, security and surveillance, lighting, and wearables. It has operations across the world.

AssaAbloy

Founded: 1994

Headquarters: Sweden

Webbnader: www.assaabloy.com/se/sv

Assa Abloy AB supplies access solutions, encompassing a broad portfolio of products and services that cater to secure and easy access to physical and digital places. The business's main operations are the development, manufacture, and sales of mechanical and electromechanical locks, access control systems, identification technology, entrance automation, and security doors. Some well-known brands under ASSA include ABLOY, Yale, and HID. Its products are used by various consumers across government sectors, healthcare, hospitality, education, and transportation, all aimed at access management in a secure way. The company is engaged in operations in more than 70 countries, and it targets markets all over the world. Its strongest market presence, however, is in the Americas, EMEIA, and Asia Pacific.

DormaKaba Holding AG.

Founded: 1862

Headquarters: Switzerland

Dormakaba Holding AG (Dormakaba) provides access control and security solutions. The company's product portfolio includes security cylinders and locks, mechatronic lock cylinders, digital locking system, and pushbutton locks with pin codes. It also provides physical access systems, key cutting and coding equipment, lodging system, safe locks, key cutting machines, and key duplication machines. The company offers automotive solutions such as vehicle keys, transponders and key replacement devices. Dormakaba markets its products under various brand names including Best, Dorma+Kaba, Dorma Huppe, Dorma, Ilco, LEGIC and Silca. The company offers its products to commercial offices, residential, finance, education, airport, public transport, retail, hospitality, healthcare, and manufacturing industries. It operates in Middle East, Africa, Europe, Americas and Asia Pacific.

Samsung

Founded: 1969

Headquarters: South Korea

Samsung Electronics Co Ltd is a manufacturer of consumer electronics, information technology, and mobile communications, and device solutions. The company's product portfolio comprises televisions, refrigerators, network systems, audio products, medical devices, printers, washing machines, air conditioners, monitors, computers, and digital cameras. It also manufactures LCD and LED panels; mobile phones and smartphones; tablets; and related accessories. Samsung provides solutions to retail, hospitality, finance, education, transportation, and government sectors. It offers products through dealer, retailers, distributors, direct channels, and online. The company's business operations are spread across the Americas, Europe, Africa, the Middle East, and Asia-Pacific.

Product Launches in the Global Smart Lock Market

Panasonic Corporation

July 2024: Panasonic Life Solutions India (PLSIND), a leading diversified technology company, today launched a new range of state-of-the-art Video Door Phones in India, catering to the needs of builders and standalone households. The innovative lineup by Panasonic's The System Solutions Division (SSD) includes Analogue, Hybrid and IP-integrated models: VL-VA514, VL-SA74, VL-SA611, VL-SA72, and VL-SA71, each designed with weather and vandal proof ratings enhancing the overall home security with 2 tier and 3 tier security features. This range will be available at retail outlets and authorized distributors across the country and Panasonic's D2C store.

Honeywell International Inc.

Sept 2024, Honeywell is showcasing key security technologies from both the Honeywell Commercial Security and Access Solutions brands during the 2024 Global Security Exchange (GSX) September 23 - 25 in Orlando. This work supports Honeywell's portfolio alignment around three compelling megatrends, including automation.

SWOT Analysis of the Company

ZhejiangDahua Technology Co., Ltd.

Strengths include advanced security competencies and integration within the wider IoT ecosystem.

With its solid security expertise and integration into the wider IoT ecosystem, Zhejiang Dahua Technology Co., Ltd has received a strong competitive positioning in the smart lock market. Dahua is among the top global security solution providers that have built firm ground in the foundations of surveillance, access control, and AI analytics. It offers highly secure and intelligent smart lock products by drawing on this deep technological base. With strong R&D capabilities, the company continuously innovates in biometric authentication, cloud connectivity, and remote monitoring features. This provides Dahua with a strategic advantage in expanding its smart lock portfolio across residential and commercial segments. Its global presence, extensive distribution network, and established brand credibility in security technologies are also key advantages. Dahua integrates smart locks seamlessly with wider smart home and security systems to enhance user experience and improve overall value proposition for the ecosystem. In addition, Dahua enjoys cost-efficient manufacturing from China, enabling the company to deliver competitive pricing without compromising product performance, thus reinforcing its leadership in the global smart lock landscape.

Spectrum Brands Holdings, Inc.

Strengths: Well-established portfolio of brands; wide consumer trust; and long-standing expertise in residential security.

Spectrum Brands Holdings, Inc. is accomplished in the smart lock market due to its well-established brand portfolio, extensive consumer trust, and long-standing experience in residential security. As the parent company of Kwikset, Baldwin, and Weiser-some of the most recognizable lock brands around the world-Spectrum Brands has wide market acceptance and a very loyal customer base. The deep knowledge of home security needs helps the firm balance advanced digital features with reliability and user-friendly installation while designing smart locks. Spectrum Brands excels in integrating smart locks into leading home automation platforms, enhancing interoperability and consumer convenience. The strong retail presence across North America and Europe gives Spectrum Brands broad distribution channels for reinforcing market reach. With ongoing investments in R&D and strategic partnerships in IoT and connected home technologies, Spectrum Brands continues to innovate with enhanced security features, improved app control, and energy-efficient designs. These strengths position the company as a trusted and influential leader in the global smart lock market.

Recent Development in the Global Smart Lock Market

SALTO Systems S.L.

May 2025, Salto proudly announces the launch of its new PRM (Partner Relationship Management) platform: a potent, centralized portal that smooths collaboration and equips partners with what they need to succeed and simplify the management of their business. The PRM will replace the existing Salto Partner Area and offers easy access to sales, E-Learning, and marketing resources to valued partners and installers.

MIWA Lock Co.

Jan 2025 - SEALSQ Corp, a company specializing in Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced it has teamed up with MIWA Lock Co., Ltd. to provide the secure foundation for their innovative PiACK HOME PG, Japan's first "Matter"-compatible smart lock. The product has launched to market and marks the beginning of a significant business partnership between SEALSQ and MIWA Lock.

Sustainability Goal

Wyze Labs, Inc. Wyze Labs, Inc. is working to embed sustainability within its smart lock operations through the design of energy-efficient products, responsible manufacturing, and a reduction of electronic waste. The company takes care to reduce power consumption in smart locks, optimize battery usage, and use more eco-friendly materials for a better performance-to-weight ratio. Wyze also works on reducing carbon emissions through collaboration with environmentally responsible suppliers and adopting more efficient logistics. Furthermore, the brand enables the practice of sustainability at consumer use by increasing the length of product lifecycles with firmware updates, adding repairable options, and using modular components. Wyze is also committed to compact packaging with recyclable materials that minimize unnecessary waste. Within the broader efforts toward sustainability, the company also supports remote working models, energy-efficient office operations, and social causes. The ongoing path of innovation with conscious resource management shall continue to make smart home technology, including smart locks, more approachable, responsible, and attuned to the increasing global demand for sustainable digital living solutions.

Mul-T-Lock

Mul-T-Lock is one of the leaders in providing high-security locking solutions and maintains its production policies to be as green and ecologically friendly as possible. The company focuses on durability, efficient resource usage, and designing strong, long-lasting smart lock solutions to limit the need for replacements and conserve materials. Mul-T-Lock also incorporates energy-efficient components, recycled metals, and ecological materials into manufacturing processes. Operating under the ASSA ABLOY Group, their sustainability goals are ambitious and reach carbon emission reduction, increasing the share of renewable energies, and enhancing supply chain transparency. Mul-T-Lock also invests in greener manufacturing technologies, such as water-efficient processes and waste reduction systems. The brand emphasizes circularity through repair and upgrade options that extend product lifespan. The company sees its competitive advantage in durability, reduced environmental impact, and adherence to global sustainability standards, which can help make smart locks greener and more resource-efficient across the industry.

Market Segmentation

Smart Lock Market

• Historical Trends
• Forecast Analysis

Market Share Analysis - Smart Lock Market

Allegion plc.

Overview

• Company History and Mission
• Business Model and Operations

Workforce

Key Persons

• Executive Leadership
• Operational Management
• Division Leaders
• Board Composition

Recent Development & Strategies

• Mergers & Acquisitions
• Partnerships
• Investments

Sustainability Analysis

• Renewable Energy Adoption
• Energy-Efficient Infrastructure
• Use of Sustainable Packaging Materials
• Water Usage and Conservation Strategies
• Waste Management and Circular Economy Initiatives

Product Analysis

• Product Profile
• Quality Standards
• Product Pipeline
• Product Benchmarking

Strategic Assessment: SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

Revenue Analysis

The above information will be available for all the following companies:

1. Allegion plc.

2. Avent

3. AssaAbloy

4. DormaKaba Holding AG.

5. Samsung

6. zhejiangdahua technology co. ltd.

7. Spectrum Brands Holdings, Inc.

8. Panasonic Corporation

9. Honeywell International Inc.

10. SALTO Systems S.L.

11. MIWA Lock Co.

12. Wyze Labs, Inc.

13. Mul-T-Lock

14. Onity Inc.

15. ZKTECO Co., Ltd.

16. Kaadas (Shenzhen Kaadas Intelligent Technology Co., Ltd.)

17. Godrej & Boyce Manufacturing Co. Ltd.

18. Master Lock Company LLC

19. Level Home Inc.

20. HavenLock, Inc.