Increasing Popularity Of Smart Door Locks Provide Home Security And Added Convenience
The global smart lock market is growing rapidly with the adoption of keyless access devices, increasing demand for smartphones, increasing security and privacy concerns, and the demand for connected smart home solutions being the factors driving the growth.
Moreover, rise in disposable income and rapid urbanization further fuels the demand of smart lock market during the forecast period. Furthermore, emergence of Internet of Things (IoT) and advancement in technology is also driving the market growth.
Lack of awareness among the consumers could hinder the growth. The smart lock is an up and coming device intending to replace the traditional locks due to user convenience and affordable pricing. It also provides real-time information and lets the user grant or deny access via their smartphone. These locks help the users to observe particular entry or exit points.
Established infrastructure and increasing security concerns in the North American region is expected to boost the market here. For smart locks, Asia-Pacific (APAC) is believed to be the fastest-growing industry thanks to rapid urbanization and an increasing number of residential and commercial projects.
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