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Europe Smart Door Lock Market Forecast to 2028 -Regional Analysis by Product (Fingerprint Locks, Remote Locks, and Electronic Cipher Locks), Technology (Wi-Fi, Bluetooth, Z Wave, and Others), and End User (Commercial and Residential)
Market Report I 2023-05-19 I 120 Pages I The Insight Partners
The Europe smart door lock market is expected to grow from US$ 670.27 million in 2023 to US$ 1,534.17 million by 2028. It is estimated to grow at a CAGR of 18.0% from 2023 to 2028.
Rising Adoption of Smartphones Drive Europe Smart Door Lock Market
According to Oberlo, an e-commerce company, the global count of smartphone users is estimated to reach ~6.8 billion in 2023, recording a 4.2% increase compared to 2022. From 2016 to 2023, the total number of global smartphone users has increased by an average of 9.5% annually. Oberlo also assumes that the global number of smartphone users would continue to rise and reach 7.1 billion by 2024. Such a large scale of smartphone adoption indicates people's dependency on these devices, which is likely to benefit the Europe smart door lock market, as owners can control these locks by using mobile apps installed on their smartphones. Considering this, various market players provide smart locks that can be specifically operated via smartphones. For example, the YDM 4115-A smart lock by Yale features a fingerprint pin code, key override, Bluetooth connectivity, and remote access through the Yale Access app. Similarly, LAVNA Locks provides LAVNA Smart Digital Lock L-A28 with Bluetooth connectivity, which can be accessed through a mobile app, fingerprint sensor, PIN, OTP, RFID card, and manual key. Further, Denler provides Denler DL04 smart lock, a Wi-Fi-enabled smart lock that can be remotely accessed by owners using a mobile phone app to unlock the door. Other unlocking options offered by this lock include a fingerprint scanner, RFID card, PIN, and manual key. In November 2022, Samsung, with its partner Zigbang, unveiled ultrawideband communication-based (UWB-based) smart door locks. This new smart lock is powered by a UWB chip which can be opened without touching the linked smartphone, as the lock detects a digital house key in the Samsung wallet on the phone. Thus, the rising smartphone adoption worldwide is raising the demand for smart locks, bolstering the growth of the Europe smart door lock market.
Europe Smart Door Lock Market Overview
The smart door locks market in Europe is sub segmented into France, Germany, Italy, Russia, the UK, and the Rest of Europe. Western Europe is a highly developed region, hosting several types of businesses. Additionally, a rapid digital transformation supports the growth of the Europe smart door lock market in Europe. A well-established manufacturing industry in the region adopts cutting-edge technologies such as the Internet of Things (IoT), the Industrial Internet of Things (IIoT), and Industry 4.0. As a result, globally leading enterprises collaborate with European companies to leverage the well-developed infrastructure in this region. In March 2023, iLOQ, a Finnish company offering smart locking and secure access solutions for buildings and properties, signed a global Master Supply Agreement with Honeywell Building Technologies. Under this agreement, Honeywell agreed to purchase access management solutions from iLOQ.
The demand for smart homes has increased substantially in Europe over the past five years due to the rising penetration of smartphone and other smart devices. Smart home applications comprise advanced security aspects, which include smart locks and cameras along with other smart features. People in the region are adopting systems with innovative security features integrated into their smart homes and considering it as a value-added service for the high quality of living. Such factors are encouraging smart lock providers to introduce innovative locking solutions, which in turn is boosting the growth of the market. The adoption of technologies such as Wi-Fi and Bluetooth, which are integrated within smart locks, are also steeply growing. Bluetooth and Wi-Fi technologies have been establishing new markets and pushing the limits of wireless communication in Europe. Once the smart lock is connected with Bluetooth and Wi-Fi technology, it can be further integrated with smartphone, smart home hub, or with the internet.
Europe Smart Door Lock Market Revenue and Forecast to 2028 (US$ Million)
Europe Smart Door Lock Market Segmentation
The Europe smart door lock market is segmented into product, technology, end user, and country.
Based on product, the Europe smart door lock market is segmented into fingerprint locks, remote locks, and electronic cipher locks. In 2023, the electronic cipher locks segment registered a largest share in the Europe smart door lock market.
Based on technology, the Europe smart door lock market is segmented into wi-fi, Bluetooth, Z wave, and others. In 2023, Bluetooth segment registered a largest share in the Europe smart door lock market.
Based on end user, the Europe smart door lock market is bifurcated into commercial and residential. In 2023, the commercial segment registered a larger share in the Europe smart door lock market.
Based on country, the Europe smart door lock market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. In 2023, Germany segment registered a largest share in the Europe smart door lock market.
ADEL Marketing (M) Sdn Bhd; Allegion Plc; Assa Abloy AB; Honeywell International Inc; Master Lock Company LLC; and Spectrum Brands Holdings Inc are the leading companies operating in the Europe smart door lock market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Smart Door Lock Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Smart Door Lock Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Security Concerns and Reliable Features of Smart Locks
5.1.2 Rising Adoption of Smartphones
5.2 Market Restraints
5.2.1 High Cost of Smart Door Locks
5.3 Market Opportunities
5.3.1 Emergence of Smart Cities
5.4 Future Trends
5.4.1 Technological Advancements in Smart Door Locks
5.5 Impact Analysis of Drivers and Restraints
6. Smart Door Lock Market -Europe Analysis
6.1 Smart Door Lock Market Global Overview
6.2 Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
7. Europe Smart Door Lock Market Analysis - by Product
7.1 Overview
7.2 Europe Smart Door Lock Market, by Product (2022 and 2028)
7.3 Fingerprint locks
7.3.1 Overview
7.3.2 Fingerprint locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Remote locks
7.4.1 Overview
7.4.2 Remote locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Electronic cipher locks
7.5.1 Overview
7.5.2 Electronic cipher locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
8. Europe Smart Door Lock Market Analysis - by Technology
8.1 Overview
8.2 Europe Smart Door Lock Market, by Technology (2022 and 2028)
8.3 Wi-Fi
8.3.1 Overview
8.3.2 Wi-Fi: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Bluetooth
8.4.1 Overview
8.4.2 Bluetooth: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Z wave
8.5.1 Overview
8.5.2 Z wave: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
9. Europe Smart Door Lock Market Analysis - By End user
9.1 Overview
9.2 Europe Smart Door Lock Market Breakdown, by End user, 2022 & 2028
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial: Europe Smart Door Lock Market Revenue and Forecast to 2028 (US$ Million)
9.4 Residential
9.4.1 Overview
9.4.2 Residential: Europe Smart Door Lock Market Revenue and Forecast to 2028 (US$ Million)
10. Europe Smart Door Lock Market - Country Analysis
10.1 Overview
10.1.1 Europe: Smart Door Lock Market, by Key Country
10.1.2 Europe: Smart Door Lock Market, by Key Country
10.1.2.1 Germany: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 Germany: Smart Door Lock Market, by Product
10.1.2.1.2 Germany: Smart Door Lock Market, by Technology
10.1.2.1.3 Germany: Smart Door Lock Market, by End user
10.1.2.2 France: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 France: Smart Door Lock Market, by Product
10.1.2.2.2 France: Smart Door Lock Market, by Technology
10.1.2.2.3 France: Smart Door Lock Market, by End user
10.1.2.3 Italy: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 Italy: Smart Door Lock Market, by Product
10.1.2.3.2 Italy: Smart Door Lock Market, by Technology
10.1.2.3.3 Italy: Smart Door Lock Market, by End user
10.1.2.4 UK: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.4.1 UK: Smart Door Lock Market, by Product
10.1.2.4.2 UK: Smart Door Lock Market, by Technology
10.1.2.4.3 UK: Smart Door Lock Market, by End user
10.1.2.5 Russia: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.5.1 Russia: Smart Door Lock Market, by Product
10.1.2.5.2 Russia: Smart Door Lock Market, by Technology
10.1.2.5.3 Russia: Smart Door Lock Market, by End user
10.1.2.6 Rest of Europe: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.6.1 Rest of Europe: Smart Door Lock Market, by Product
10.1.2.6.2 Rest of Europe: Smart Door Lock Market, by Technology
10.1.2.6.3 Rest of Europe: Smart Door Lock Market, by End user
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 ADEL Marketing (M) Sdn Bhd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Allegion Plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Assa Abloy AB
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Honeywell International Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Spectrum Brands Holdings Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Master Lock Company LLC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Smart Door Lock Market, by Key Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 13. UK: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe: Smart Door Lock Market, by Product- Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe: Smart Door Lock Market, by Technology - Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe: Smart Door Lock Market, by End user - Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Smart Door Lock Market Segmentation
Figure 2. Europe Smart Door Lock Market Segmentation - by Country
Figure 3. Europe Smart Door Lock Market Overview
Figure 4. Europe Smart Door Lock Market, by Product
Figure 5. Europe Smart Door Lock Market, by Technology
Figure 6. Europe Smart Door Lock Market, by End user
Figure 7. Europe Smart Door Lock Market, by Country
Figure 8. Europe: PEST Analysis
Figure 9. Europe Smart Door Lock Market - Ecosystem Analysis
Figure 10. Expert Opinions
Figure 11. Europe Smart Door Lock Market Impact Analysis of Drivers and Restraints
Figure 12. Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe Smart Door Lock Market Revenue Share, by Product (2022 and 2028)
Figure 14. Fingerprint locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Remote locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Electronic cipher locks: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Smart Door Lock Market Revenue Share, by Product (2022 and 2028)
Figure 18. Wi-Fi: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Bluetooth: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Z wave: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Europe Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe Smart Door Lock Market Breakdown, by End user (2022 and 2028)
Figure 23. Commercial: Europe Smart Door Lock Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Residential: Europe Smart Door Lock Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Europe: Smart Door Lock Market Revenue Share, by Key Country (2022 & 2028)
Figure 26. Europe: Smart Door Lock Market Revenue Share, by Key Country (2022 & 2028)
Figure 27. Germany: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. France: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Italy: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. UK: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. Russia: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of Europe: Smart Door Lock Market - Revenue and Forecast to 2028 (US$ Million)
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