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Smart Lock Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 94.5 Million
Market Size in 2033: USD 250.2 Million
Market Growth Rate (CAGR) 2025-2033: 10.57%
According to IMARC Group's report titled "India Smart Lock Market Report and Forecast 2025-2033," the market reached USD 94.5 million in 2024. Looking forward, IMARC Group expects the market to reach USD 250.2 million by 2033, exhibiting a growth rate (CAGR) of 10.57% during 2025-2033.
Download sample copy of the Report: https://www.imarcgroup.com/india-smart-lock-market/requestsample
India Smart Lock Market Trends and Drivers:
Essentially, the expanding middle-class population, enhanced purchasing power, and greater exposure to digital lifestyle are encouraging homeowners as well as corporate entities to adopt smart locks in a bid to attain enhanced safety and convenience.
Other than this, increasing crime rates and the requirement for sophisticated home security solutions are fueling the demand for keyless entry devices with remote access, real-time monitoring, and biometric-based identification.
Further, the government initiative for Smart City development and digital infrastructure is encouraging the adoption of smart solutions such as smart locks in residential and commercial complexes of metro and tier-2 cities.
Besides this, the growing hospitality and real estate industries are also playing a major role in market growth, and developers and hotel chains are integrating smart access solutions into their systems to ensure better customer experience and operational effectiveness.
Also, the universal availability of internet and smartphones is enabling smart locks to seamlessly integrate into mobile apps, with door access managed remotely.
In addition, advancements in IoT, AI, and cloud are making it possible for product creators to embed advanced features like facial recognition, voice control, geofencing, and tampering detection, making the products more appealing.
In addition, mounting pressure to safeguard data and incorporation of end-to-end encryption in newer generation devices are reducing concerns and driving adoption.
Apart from this, competitive marketing strategies, collaboration of security brands with tech majors, and cost-effective products are widening customer bases beyond the premium segment.
E-commerce phenomenon is also contributing significantly by providing easy availability, ease of comparison, and value-added discounts at one's fingertips, which is driving the sales of intelligent locks.
Moreover, growth in common spaces, co-working offices, and rented dwellings for access management and time-based authentication is creating new areas of growth.
All these aspects together, coupled with the rise in smart infrastructure, shifting customer behavior, technological advancements, and increased security concerns, are fueling the India smart lock market and making it one of the most lucrative and promising Indian smart home market segments.
India Smart Lock Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India smart lock market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Lock Type Insights:
Communication Protocol Insights:
End User Insights:
Regional Insights:
Request for customization: https://www.imarcgroup.com/request?type=report&id=21817&flag=C
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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IMARC Group
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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