Smart Door Lock Market Size

The growing trend of internet of things iot along with rising security and privacy concerns has propelled the penetration of smart home security devices globally. For the forecast years. The global smart lock market size was valued at usd 1 2 billion in 2019 and is expected to register a cagr of 18 5 from 2020 to 2027.

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3 2020 at 5 28 a m.

Smart door lock market size.

The global smart door lock market is segmented on the basis of type application and geography. Smart lock market was valued at usd 1 74 billion in 2019 and is projected to reach usd 4 41 billion by 2027 growing at a cagr of 13 25 from 2020 to 2027. The global smart door lock market was valued at us 491 2 mn in 2018 and is projected to increase significantly at a cagr of 17 8 from 2019 to 2028. Press release smart door locks market 2020 share size types and applications evolving technology trends and industry analysis 2026 published.

Among these locks the electromechanical door locks segment is anticipated to hold highest market size by the end of 2021 by expanding at a compound annual growth rate cagr of 26 43. Along with qualitative information this report include the quantitative analysis of various segments in terms of market share growth opportunity analysis market value etc. The report on smart door locks market offers in depth analysis on market trends drivers restraints opportunities etc. Smart lock market size and forecast.

More than 7 0 million units of smart locks were sold in 2019. Smart door lock market scope. The global smart door lock market is divided by keypad smart door locks into magnetic stripe locks electromechanical door locks and electric strike locks. The growing adoption of internet of things iot coupled with rising security and privacy concerns has propelled the penetration of smart home security devices globally.

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