Smart Door Lock Market
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Smart door lock market scope.
Smart door lock market. 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 increasing demand for smart locks is one of the major factors driving the market. More than 7 0 million units of smart locks were sold in 2019. 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 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 north america region will contribute 47 of the market share. The global smart door lock market is segmented on the basis of type application and geography. The others segment include footplate locks rim latch and wall mounted locks.
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. Based on product type the smart lock market is segmented into deadbolts lever handles padlocks and others.
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