Global Smart Lock Market

Apr 2020| VMR712B| Verified Market Research

Report Highlights

Smart Lock Market Size And Forecast

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.

Global Smart Lock Market Overview

The rising adoption of smartphones and other connected devices such as smartphones, personal computers, and tablets boost the market growth. The growing security and safety concerns related to preventing invasion, unauthorized access, theft, burglary, and enhanced features compared with traditional lock has propelled the smart lock market. Moreover, increasing consumer awareness of the benefits of advanced security solutions is expected to positively influence product sales. Moreover, a huge population base, a large number of research and development (R&D) activities, increasing urbanization leading to the growth of new construction and renovation activities are the factors that positively anticipate in rising smart lock market.

Key Players In Smart Lock Market

The “Global Smart Lock Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are

  • Assa Abloy AB
  • Dorma+Kaba Holding AG
  • Spectrum Brands Holdings, Inc.
  • Allegion Plc
  • Onity, Inc.

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Global Smart Lock Market

  • Date - Dec 2018
  • Code - VMR712A

The Global Smart Lock Market was valued at USD 1.21 billion in 2016 and is projected to reach USD 3.71 billion by 2025, growing at a CAGR of 13.25% from 2017 to 2025.

A smart lock is an electromechanical lock which is designed to perform locking and unlocking operations on a door when it receives such instructions from ...

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