Smart Door Lock Market Size

Recent trends and developments 6.

Smart door lock market size.

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 report gives a complete market analysis for the forecasted period from 2020 to 2026. The global smart door lock market may be divided by types type of use and the area. The global smart door lock market is segmented on the basis of type application and geography.

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. The report on smart door locks market offers in depth analysis on market trends drivers restraints opportunities etc. 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. 3 2020 at 5 28 a m.

Global smart door locks market size usd billion and forecast analysis 2016 2024 5. Along with qualitative information this report include the quantitative analysis of various segments in terms of market share growth opportunity analysis market value etc. Growth drivers restraints and opportunities 5 1. Smart lock market size and forecast.

For the forecast years. The global smart door lock market is divided by keypad smart door locks into magnetic stripe locks electromechanical door locks and electric strike locks. Smart door lock market scope. Global smart door locks market segmentation 6 1.

Smart door locks market by product type market size billion y. More than 7 0 million units of smart locks were sold in 2019. 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. Press release smart door locks market 2020 share size types and applications evolving technology trends and industry analysis 2026 published.

Smart door locks be able to deliver people by means of a great level of security that is not delivered by usual locks and alarms. The report on the global smart door lock market gives an estimation of the development of the market based on historical studies and also provides forecasts on the basis of a comprehensive research. The smart door locks are extensively presented and permit operators to open close a door deprived of keys. Market for digital door lock system to rise at a cagr of 34 7 during the forecast period of 2017 to 2024.