The global smart lock market is expected to post a CAGR of close to 15% during the period 2018-2022, according to the latest market research report by Technavio.
The benefits of smart locks over traditional locks and digital locks will be key factors driving the growth of the market. Smart locks are connected to smartphones or smartwatches and the automatic locking and opening system can be activated through these mobile devices. This will eliminate ... Read more
The global smart lock market size is poised to grow by USD 8.62 billion during 2019-2023, registering a CAGR of close to 15% during the forecast period. However, the market is anticipated to witness a decelerating year-over-year growth during the forecast period.
The market is driven by the integration of HMI technologies in smart locks. In addition, the integration of advanced technologies in smart locks is anticipated to further boost the growth of the smart lock market.
