Asia Pacific Smart Lock Market Size & Outlook, 2024-2030
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Asia Pacific smart lock market highlights
- The Asia Pacific smart lock market generated a revenue of USD 817.2 million in 2024.
- The market is expected to grow at a CAGR of 24% from 2025 to 2030.
- In terms of segment, deadbolt was the largest revenue generating product in 2024.
- Lever Handle is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, South Korea is expected to register the highest CAGR from 2025 to 2030.
Asia Pacific data book summary
| Market revenue in 2024 | USD 817.2 million |
| Market revenue in 2030 | USD 2,965.9 million |
| Growth rate | 24% (CAGR from 2025 to 2030) |
| Largest segment | Deadbolt |
| Fastest growing segment | Lever Handle |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Deadbolt, Lever Handle, Padlock, Server Locks & Latches, Knob Locks |
| Key market players worldwide | Fortune Brands Innovations Inc, Spectrum Brands Holdings Inc, Assa Abloy AB Class B, Allegion PLC, Carrier Global Corp Ordinary Shares, Honeywell International Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 29.5% of the global smart lock market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 280.1 million by 2030.
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Smart Lock Market Scope
Smart Lock Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Allegion PLC | View profile | 12400 | Harcourt Road, Iveagh Court, Block D, Dublin 2, Ireland, D02 VH94 | https://www.allegion.com |
| Fortune Brands Innovations Inc | View profile | 11700 | 520 Lake Cook Road, Suite 300, Deerfield, IL, United States, 60015-5611 | https://www.fbin.com |
| Assa Abloy AB Class B | View profile | 61282 | Klarabergsviadukten 90, P.O. Box 70340, Stockholm, Sweden, SE-107 23 | https://www.assaabloy.com |
| Carrier Global Corp Ordinary Shares | View profile | 53000 | 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 | https://www.corporate.carrier.com |
| Spectrum Brands Holdings Inc | View profile | 3100 | 3001 Deming Way, Middleton, WI, United States, 53562 | https://www.spectrumbrands.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
Asia Pacific smart lock market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart lock market will help companies and investors design strategic landscapes.
Deadbolt was the largest segment with a revenue share of 52.91% in 2024. Horizon Databook has segmented the Asia Pacific smart lock market based on deadbolt, lever handle, padlock, server locks & latches, knob locks covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is predicted to grow at a CAGR of 24.0% in terms of volume. The significant growth is attributed to a dramatic increase in the number of residential and commercial projects and ongoing programs of smart cities in developing countries like India.
In addition, smart home penetration across the region has seen significant growth, which plays a vital role in spreading awareness about advanced gadgets and technologies. This, in turn, is driving the market growth over the forecast period.
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Target buyers of Asia Pacific smart lock market databook
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Our clientele includes a mix of smart lock market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific smart lock market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Lock Market Outlook Share, 2024 & 2030 (US$M)
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