The global smart lock market is projected to reach $8.13 billion by 2030, driven by the increasing demand for convenient and secure access control solutions, according to a report by Grand View Research. Smart locks offer enhanced security, remote access control, and integration with smart home ecosystems, making them popular in residential and commercial settings. Technological advancements, such as biometric authentication and cloud connectivity, are further contributing to the market’s growth.
The rising adoption of smart locks in home automation and the need for improved security are fueling their popularity in residential applications. Additionally, the commercial sector, including industries like hospitality and healthcare, is witnessing a surge in smart lock deployments for efficient access control. Key players in the industry are focusing on product innovation and strategic partnerships to cater to evolving consumer needs. With the convenience, security, and integration capabilities they provide, smart locks are expected to play a crucial role in the expanding smart home ecosystem.