U.S. Smart Lock Market To Witness Massive Growth By 2030
U.S. Smart Lock Industry The U.S. smart lock market size was estimated at USD 765.8 million in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 16.0% from 2024 to 2030. The United States plays a key role in driving the overall growth of the regional smart lock market. This is largely due to the strong presence of major technology companies within the country, including August Home, Inc. (a subsidiary of ASSA ABLOY), Kwikset (a brand owned by Spectrum Brands Holdings, Inc.), Yale Locks (also under ASSA ABLOY), and Onity Inc. (part of Carrier Global Corporation). These companies are making significant investments in the development and advancement of smart lock technologies, contributing notably to market expansion. Additionally, the widespread adoption of the latest smart technologies by consumers, supported by relatively high disposable income levels across the country, further accelerates the growth of the smart lock market. As an illustration of this t...