The global market valuation was determined by analyzing the average selling price (ASP) and unit shipment mapping in both consumer and commercial channels. The methodology comprised the following:
Identification of over 45 significant manufacturers in North America, Europe, Asia-Pacific, and Latin America
Bluetooth Low Energy (BLE), Wi-Fi, and NFC connectivity modules; keypad, biometric touch, and card key authentication interfaces; and product mapping across deadbolt, lever handle, and padlock form factors. Examination of annual revenues that are specific to smart lock portfolios, including hardware sales and recurring software subscription revenues, as reported and modeled
In 2024, the coverage of manufacturers that hold 70-75% of the global market share will be as follows: August Home, Yale, Assa Abloy, Samsung, Kwikset, Schlage, Dormakaba, and emerging IoT-native entrants.
Segment-specific valuations are derived through extrapolation using bottom-up (unit shipments × blended ASP by country/channel, accounting for DIY retail vs. professional installation vs. commercial B2B contracts) and top-down (manufacturer revenue validation against construction industry security spend and smart home device category reports) approaches.