Residential Smart Lock Market to grow 2.7X through 2029Posted by Prasad on April 22nd, 2021 Heightened connectivity of smart devices with public, private, and residential infrastructure generating a simultaneous demand for smart locks. Enhanced security, safety, and monitoring of properties for theft prevention is enabling the deployment of smart lock systems. The global smart locks market is projected to grow at a dexterous 16% CAGR through 2029. Countries across the world are leveraging advancement in infrastructural technology such as smart surveillance, enhanced sensors, and mobile control of security systems. Market players are heavily investing in research and development of smart slocks to increase convenience and enhance security. For detailed insights on enhancing your product footprint, request for a sample here - https://www.factmr.com/connectus/sample?flag=S&rep_id=4669 Key Takeaways of Smart Lock Market Study
Smart Features in Smart Locks- Key Growth Strategy Market players are differentiating products based on features that increase security while at the same time enhance convenience. Smart locks that lock and unlock automatically by detecting the arrival of owners is an ideal example of innovative products. Facial recognition and fingerprint sensors increase product efficiency. Mobile adaptability will continue to bolster growth for the smart locks market. Surging penetration of smart phones among consumers in developing countries paired with digitization of economies will impel the demand for smart locks during the forecast period. The competitive landscape is shaped by disruptive innovation and strategic development partnerships. Prevalence of products such as Google Home, Apple Homekit, and Amazon Smart home devices among consumers will have a rippling effect on the demand for smart locks compatible with these smart home platforms. About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner. Contact: US Sales Office: Corporate Headquarter: Like it? Share it!More by this author |