Smart Door Lock Market Size

Smart lock market size and forecast.

Smart door lock market size.

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. 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. 3 2020 at 5 28 a m.

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. 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. Press release smart door locks market 2020 share size types and applications evolving technology trends and industry analysis 2026 published. 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 global smart door lock market is segmented on the basis of type application and geography. The report on smart door locks market offers in depth analysis on market trends drivers restraints opportunities etc. 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 growing adoption of internet of things iot coupled with rising security and privacy concerns has propelled the penetration of smart home security devices globally.