Global Electronic Door Locks Market Report and Forecast 2024-2032

Global Electronic Door Locks Market Size

The global electronic door locks market is assessed to grow at a CAGR of 7.8% between 2024 and 2032. The market is being driven by rapid infrastructural development and the growing adoption of smart home technology.

Electronic Door Locks Market Growth

Electronic door locks, variously known as digital door locks, refer to door fixtures that can be locked or unlocked using electric current. Such locks are typically battery or electricity-operated and serve as a safe and convenient alternative to conventional mechanical locks. Some technologies used in electronic door locks are RFID, biometrics, and IoT, among others.

The electronic door locks demand is being aided by rising infrastructural development and the robust growth of the commercial and residential sectors. Besides, the emergence of technologies like IoT, big data, and AI is driving the development of electronic door locks with capabilities such as intelligent monitoring, voice unlocks, and face identification, among others.

The market growth can be attributed to the rising cost-effectiveness and accessibility of digital locks. An increasing number of customers are opting for keyless and digital safety solutions as they offer convenience and record entries.

Electronic Door Locks Market Trends

The increasing launches of electronic door locks with advanced features such as volume indicators, fingerprint recognition, break-in alarms, spy codes, external power bank charging, and privacy modes, among others, are expected to aid the market in the forecast period.

One prominent trend in electronic door locks market is the surging adoption of smart home technology. Smart locks are equipped with innovative features, offer convenient and rapid door-opening experiences, and mitigate security risks. Moreover, they can be integrated with smart assistants to automate the closing and opening of homes.

In the forecast period, the growing proliferation of 5G technology is anticipated to enhance the capability of smart door locks integrated with Wi-Fi and Bluetooth technologies and improve the communication of these locks with smart home’s connected ecosystem.

Recent Developments

As per the electronic door locks market analysis, the August Wi-Fi Smart Lock has been recognised for its user-friendly interface and seamless integration with smart home devices such as Google Home and Alexa. This lock also possesses features such as auto-locking/unlocking, geofencing, and built-in Wi-Fi, among others, which makes it an attractive choice among customers.

Industry Outlook

As per the electronic door locks industry analysis, the Asia Pacific region can represent around 40% of the total construction in the world by 2040. This constitutes both residential and commercial construction, which can fuel the demand for smart and electronic locks to offer superior security. As per the U.S. Census Bureau, single-family new home starts represented around 66.8% of the ne house constructions in the USA in 2023. The National Association of Home Builders (NAHB) have forecasted that forecasted that in 2024, new housing starts will be 1.37 million units.

Furthermore, single home sales in the USA in 2023 were 3.66 million units, with an average sales price of USD 394,600. New home sales were up by 4.2% in 2023 compared to 2022, whereas mortgage rates were at an annual average of 6.81% in 2023. The total spending on the construction sector reached around USD 1.98 trillion in 2023, as per the U.S. Census Bureau, which can also boost the growth of the electronic door locks industry, owing to their burgeoning popularity in offering secure home solutions.

Growing Demand for Enhanced Security and Convenience Drives Market Growth

• Rising concerns about residential and commercial security boost demand for electronic door locks.

• Increasing adoption of smart home technologies enhances the appeal of electronic door locks for convenience and remote access and aids electronic door locks demand growth. 

• Technological advancements such as biometrics, RFID, and smartphone integration improve functionality and user experience.

• Growing urbanization and construction of smart buildings further drive market expansion.

Challenges Shaping the Global Market Due to High Costs, Cybersecurity Risks, and Consumer Awareness

• High installation and maintenance costs can be a barrier for some consumers and businesses.

• Cybersecurity risks and potential vulnerabilities in electronic systems raise concerns about data breaches and unauthorized access and negatively impact electronic door locks demand forecast.

• Limited consumer awareness and scepticism towards the reliability and safety of electronic door locks.

• Regulatory and compliance requirements for electronic security products vary across regions, posing challenges for manufacturers.

Emerging Trends in the Global Electronic Door Locks Sector Focus on Smart Integration, Energy Efficiency, and Customization

• Increasing integration of electronic door locks with smart home ecosystems for seamless control and automation.

• Development of energy-efficient and eco-friendly locks to meet consumer demand for sustainable products can boost electronic door locks market value.

• Growing trend of offering customizable options for aesthetics and functionality to cater to diverse consumer preferences.

• Adoption of advanced manufacturing techniques to enhance product durability and reduce production costs.

Threats and Challenges in the Global Market Arising from Economic Downturns, Technological Disruptions, and Intense Competition

• Economic downturns affecting consumer spending on home improvement and security products.

• Rapid technological advancements necessitating continuous innovation and adaptation to maintain market relevance and increase electronic door locks market revenue.

• Intense competition from established security companies and new market entrants driving price pressures and innovation.

• Dependence on high-quality electronic components susceptible to supply chain disruptions and shortages.

Key Players in the Global Market and Their Strategic Initiatives

Assa Abloy AB

• Smart Home Integration: Focuses on developing electronic door locks that seamlessly integrate with smart home systems, providing users with enhanced convenience and control through mobile apps and voice assistants, which increases electronic door locks market opportunities.

• Advanced Security Features: Invests in R&D to incorporate cutting-edge security technologies such as biometric authentication, real-time monitoring, and automatic locking mechanisms.

Allegion plc

• Interoperability with IoT Devices: Develops electronic door locks compatible with a wide range of IoT devices, enabling users to create a connected and secure home environment.

• Cybersecurity Enhancements: Implements robust cybersecurity measures to protect against hacking and unauthorized access, ensuring the safety and privacy of users' homes and boosting demand of electronic door locks market.

dormakaba Holding AG

• Focus on Commercial Solutions: Offers advanced electronic door lock solutions tailored for commercial and institutional applications, emphasizing durability, scalability, and ease of management.

• Sustainability Initiatives: Commits to sustainable manufacturing practices and the use of eco-friendly materials in the production of electronic door locks.

Spectrum Brands Holdings, Inc.

• Innovative Product Design: As per the electronic door locks market dynamics and trends, the company continually launches new electronic door lock models with sleek, modern designs and user-friendly interfaces to cater to consumer preferences.

• Expanded Distribution Channels: Enhances market reach by partnering with leading retailers and e-commerce platforms, making their products more accessible to a broader audience.

Honeywell International Inc.

• Integration with Security Systems: Focuses on developing electronic door locks that seamlessly integrate with comprehensive home security systems, providing users with a unified security solution.

• Enhanced User Experience: Invests in user experience design to create intuitive and easy-to-use electronic door locks, incorporating features like touchscreens, keyless entry, and remote access control.

Electronic Door Locks Market Industry Segmentations

Based on type, the market segmentation includes deadbolts, knobs, and lever. On the basis of authentication method, the market can be divided into biometric, pin code, and card key.

By end use, the market is divided into residential, commercial, and industrial. The major regional markets for electronic door locks include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global electronic door locks market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Honeywell International Inc. 

• Samsung Electronics Co., Ltd.

• Carrier Global Corporation  

• ASSA ABLOY AB

• Avent Security (HK) Co., Ltd.

• Spectrum Brands Holdings, Inc.

• Vivint, Inc.

• SALTO Systems, S.L.

• Dormakaba International Holding AG 

• Godrej & Boyce Manufacturing Co. Ltd.

• Others

Electronic Door Locks Market Share

Based on Authentication Method

Biometric electronic door locks account for a substantial portion of the electronic door locks market share as they allow users to scan their biological credentials to lock and unlock the door. Such locks use facial, fingerprint, iris, and voice recognition of users, making it difficult to fake their unique characteristics and tamper their locks.

Meanwhile, key card door locks are increasingly used in commercial applications due to their enhanced security and easy access to tracking. The affordability, convenience, and security of key cards make them ideal for use in electronic door locks. In addition, key card systems can be integrated with CCTV systems to provide additional benefits.

Based on End Use

As per the market analysis, the residential sector is expected to witness healthy growth in the forecast period. Homeowners are increasingly integrating intelligent devices into their homes to enhance their convenience and security and automate several tasks, further aiding the electronic door locks market development. This is bolstering the installation of electronic door locks due to their features like keyless entry, remote access, and front door security.

Moreover, electronic door locks are widely preferred by homeowners to add an additional layer of protection and prevent break-ins. Such locks also empower users to keep track of their homes from anywhere, which proves beneficial during vacations.

Competitive Landscape

Avent Security (HK) Co., Ltd. is a manufacturer and supplier of smart door locks solutions. Its products are widely used by homeowners, project contractors, wholesale businesses, brand owners, and other commercial users. Headquartered in Guangdong, China, and established in 2013, the company is recognised for its high-quality and advanced password door locks, fingerprint door locks, and RF card hotel locks.

Spectrum Brands Holdings, Inc. is a company that offers innovative home essential products to customers. It is a prominent supplier of personal care products, residential locksets, speciality pet supplies, and small household appliances, among others. Some of its leading brands are Kwikset, Pfister, Healthy-Hide, and Spectracide, among others.

SALTO Systems, S.L., established in 2001, is a leading provider of advanced electronic locking solutions without mechanical keys and wires. A pioneer in smart electronic access control solutions, the company manufactures and develops reliable wireless electronic locking as well as access control smart solutions to offer enhanced comfort and security to people.

Other electronic door locks industry players include Honeywell International Inc., Samsung Electronics Co., Ltd., Carrier Global Corporation, ASSA ABLOY AB, Vivint, Inc., Dormakaba International Holding AG, and Godrej & Boyce Manufacturing Co. Ltd., among others.

Electronic Door Locks Market Regional Analysis

North America accounts for a significant market share due to the burgeoning presence of the prominent market players in the region. Moreover, the growing popularity of smart home systems and the proliferation of the Internet of Things (IoT) contributes to the electronic door locks industry expansion.

Key Highlights of the Report

Electronic Door Locks Market Report Snapshots

Electronic Door Locks Market Size

Electronic Door Locks Market Growth

Electronic Door Locks Market Trends

Electronic Door Locks Market Share

Electronic Door Locks Companies

Electronic Door Locks Market Regional Analysis