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)

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)

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.

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