Europe Smart Lock Market Size & Outlook, 2024-2030
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Europe smart lock market highlights
- The Europe smart lock market generated a revenue of USD 729.2 million in 2024.
- The market is expected to grow at a CAGR of 18.4% 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, France is expected to register the highest CAGR from 2025 to 2030.
Europe data book summary
| Market revenue in 2024 | USD 729.2 million |
| Market revenue in 2030 | USD 2,005.8 million |
| Growth rate | 18.4% (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, Europe region accounted for 26.3% 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 |
Europe 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 52.02% in 2024. Horizon Databook has segmented the Europe 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.
Europe is expected to observe a considerable rise in the product demand. The demand is expected to reach 15,006.9 thousand units by 2030, with a CAGR of 21.3% over the forecast period. This is attributed to the high adoption rate of smart technologies across the region.
Moreover, European consumers are increasingly interested in home automation and security, and smart locks offer a convenient and secure way to manage access to their homes, driving the market growth across the region.
In addition, several cities in Europe are densely populated and cost premium to the users. Smart locks offer a convenient way to manage access to small apartments and shared living spaces, which is fueling the market growth further.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe smart lock market , including forecasts for subscribers. This continent databook contains high-level insights into Europe smart lock market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe smart lock market size, by country, 2018-2030 (US$M)
Europe Smart Lock Market Outlook Share, 2024 & 2030 (US$M)
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