The U.S. smart lock market size was estimated at USD 765.83 million in 2023 and it is expected to surpass around USD 3,390.08 million by 2033, poised to grow at a CAGR of 16.04% from 2024 to 2033. The smart lock market in the United States has seen substantial growth driven by advancements in technology, increasing adoption of smart home devices, and a rising demand for enhanced security solutions.
The U.S. smart lock market is witnessing robust growth due to the technological advancements in wireless communication, such as Bluetooth and Wi-Fi, have made smart locks more reliable and user-friendly. Increasing security concerns, driven by the rise in burglary rates, are prompting consumers to seek advanced security solutions, further propelling market demand. The proliferation of smart home devices and ecosystems is another significant driver, as smart locks seamlessly integrate with other smart home technologies, offering enhanced convenience and security. Additionally, the growing awareness and adoption of IoT devices in residential and commercial settings are contributing to the market's expansion.
In 2023, the residential segment held a dominant revenue share of 62%. This dominance is attributed to the increasing adoption of smart home technologies and the surge in restoration and new construction projects across various sectors. The growing affordability of advanced security solutions, including smart doors, motion detectors, and remote locking/unlocking systems, is expected to further drive market expansion.
The hospitality segment is projected to experience significant growth, with a CAGR of 20.13% from 2024 to 2033. This growth is driven by innovative solutions offered by leading market players tailored to the hospitality industry, enhancing security and convenience for guests and staff alike.
The deadbolt segment commanded the largest revenue share of 45% in 2023. This can be attributed to the widespread adoption of smart home technology, which favors deadbolts for their robust and user-friendly locking mechanisms. Their high durability, low installation costs, and strong resistance to forced entry contribute to their popularity.
The lever handles segment is expected to grow at a CAGR of 18.83% from 2024 to 2033. The ongoing modernization efforts in the hospitality sector, aimed at enhancing security for tourists, are set to drive this growth. Smart lever handles are increasingly being used in commercial settings on interior doors. The push-down style handle, which simplifies the locking/unlocking process compared to traditional knobs that require holding and turning, is anticipated to further boost the segment's growth.
By Type
By Application
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on U.S. Smart Lock Market
5.1. COVID-19 Landscape: U.S. Smart Lock Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. U.S. Smart Lock Market, By Type
8.1. U.S. Smart Lock Market, by Type, 2024-2033
8.1.1. Deadbolt
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Level Handlers
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Padlock
8.1.3.1. Market Revenue and Forecast (2021-2033)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 9. U.S. Smart Lock Market, By Application
9.1. U.S. Smart Lock Market, by Application, 2024-2033
9.1.1. Residential
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Hospitality
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Enterprise
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Critical Infrastructure
9.1.4.1. Market Revenue and Forecast (2021-2033)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 10. U.S. Smart Lock Market, Regional Estimates and Trend Forecast
10.1. U.S.
10.1.1. Market Revenue and Forecast, by Type (2021-2033)
10.1.2. Market Revenue and Forecast, by Application (2021-2033)
Chapter 11. Company Profiles
11.1. August Home, Inc. (ASSA ABLOY)
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. HavenLock, Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Kwikset (Spectrum Brands Holdings, Inc.)
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Schlage (Allegion Plc
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Sentrilock, LLC
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. UniKey Technologies, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Yale Locks (ASSA ABLOY)
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Goji
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Onity Inc. (Carrier Global Corporation)
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Honeywell International Inc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms