The others segment include footplate locks rim latch and wall mounted locks.
Smart door lock market.
Smart lock market is segmented on the basis of product type technology end user and geography.
The global hotel induction smart door lock market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period 2020 2026.
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 door lock market is segmented on the basis of type application and geography.
How big is the north america market.
More than 7 0 million units of smart locks were sold in 2019.
The worldwide market for smart door lock smart locks is expected to grow at a cagr of roughly 13 2 over the next five years will reach 3930 million us in 2024 from 1870 million us in 2019.
Based on product type the smart lock market is segmented into deadbolts lever handles padlocks and others.
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 north america region will contribute 47 of the market share.