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Smart Lock Market Size Worth $24.20 Billion by 2024 | CAGR: 60.1%: Grand View Research, Inc.SAN FRANCISCO, June 13, 2018 /PRNewswire/ -- The global smart lock market size is expected to reach USD 24.20 billion by 2024, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 60.1% during the forecast period. Rising awareness about smart home solutions, surging demand for portable connected smart devices, and growing preference for dynamic keyless locking/unlocking mechanisms are some of the primary factors fostering the growth of the smart lock market. (Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg ) Governments across the globe are increasingly focusing on their efforts to enhance the adoption of smart homes in their respective regions. Proliferation of wireless communication technologies coupled with growing awareness regarding connected devices is expected to propel the market over the forecast period. Moreover, rising material costs and increasing prominence of Asian suppliers in international markets are projected to have an offsetting impact on the average sale price in short term. Growing adoption of smart lock technology for non-residential applications is anticipated to provide a fillip to the market. For example, the hospitality industry has started adopting smart locks in response to growing concerns among customers regarding security during overseas stays. Hotels are, particularly, installing smart locks in order to enhance their brand image. Browse full research report with TOC on "Smart Lock Market Size, Share & Trends Analysis Report By Type (Deadbolt, Lever Handle, Padlock), By Application (Residential, Hospitality, Enterprise, Critical Infrastructure), By Region, And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/smart-lock-market Further Key Findings From the Report Suggest:
Grand View Research has segmented the global smart lock market on the basis of type, application, and region: - Smart Lock Type Outlook (Revenue, USD Million, 2013 - 2024)
- Smart Lock Application Outlook (Revenue, USD Million, 2013 - 2024)
- Smart Lock Regional Outlook (Revenue, USD Million, 2013 - 2024)
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc. About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact: Web: https://www.grandviewresearch.com |