Published by IMARC Services Private Limited
Posted on September 24, 2021
4 min readLast updated: February 2, 2026
The smart lock market is set for strong growth from 2021 to 2026, driven by security needs and smart home trends.
According to the latest report by IMARC Group, titled “Smart Lock Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart lock market reached a value of US$ 1.8 Billion in 2020. Looking forward, IMARC Group expects the global smart lock market to exhibit strong growth during 2021-2026.
Smart locks refer to electronic and mechanical locking devices that lock and unlock doors upon receiving instruction from an authorized source. They utilize a cryptographic key to verify and grant access to the user for a set period. The command and encrypted digital key are usually transmitted through mobile phones, tablets and wearable devices supporting Wi-Fi or Bluetooth connectivity. These door locks maintain a photo log of the people accessing the door with the help of a security camera. Users can also grant access to their homes to third parties by forwarding them a virtual key in the form of an email or text message.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Smart Lock Market Trends:
The increasing security threat across the residential and commercial sectors is one of the key factors driving the market. Owing to their various benefits such as durability and ease of installation, smart locks are gaining widespread acceptance among users. Also, the emerging trend of smart cities and homes across the globe is acting as a major growth-inducing factor. With an increase in the number of smart home projects, there is a growing inclination toward advanced home security solutions. Furthermore, product innovations such as cloud-based locking/unlocking systems that can be monitored remotely through a virtual device are further creating a positive outlook for the market. Rising disposable income, increasing penetration rate of the internet, rapid urbanization and enhanced dependency of people on smart technology-based assistance are some of the other factors contributing to the market growth.
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Key Market Segmentation:
Some of the major players operating in the industry include:
Market Breakup by Lock Type:
Market Breakup by Communication Protocol:
Market Breakup by End-User:
Market Breakup by Region:
Key Highlights of the Report:
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The article discusses the smart lock market, its growth trends, and future forecasts from 2021 to 2026.
What factors are driving the smart lock market growth? Increasing security needs and smart home trends are key drivers.
Who are the major players in the smart lock industry? Companies like Assa Abloy and Samsung Electronics are leading the market.
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