Smart Door Lock Market Size

The report gives a complete market analysis for the forecasted period from 2020 to 2026.

Smart door lock market size.

Smart door lock market scope. 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. The smart door locks are extensively presented and permit operators to open close a door deprived of keys. 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 growing trend of internet of things iot along with rising security and privacy concerns has propelled the penetration of smart home security devices globally. Global smart door locks market segmentation 6 1. Press release smart door locks market 2020 share size types and applications evolving technology trends and industry analysis 2026 published. The global smart door lock market may be divided by types type of use and the area.

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. Digital door lock system market is estimated to generate opportunities worth us 11 230 0 mn by the end of 2024 rising from the market s evaluated valuation of merely us 1 481 8 mn as of 2017. Global smart door locks market size usd billion and forecast analysis 2016 2024 5. Recent trends and developments 6.

The global smart door lock market is segmented on the basis of type application and geography. 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. More than 7 0 million units of smart locks were sold in 2019. The report on smart door locks market offers in depth analysis on market trends drivers restraints opportunities etc.

3 2020 at 5 28 a m. Market for digital door lock system to rise at a cagr of 34 7 during the forecast period of 2017 to 2024. Growth drivers restraints and opportunities 5 1. 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. Along with qualitative information this report include the quantitative analysis of various segments in terms of market share growth opportunity analysis market value etc. 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. Smart lock market size and forecast.