Growing market for Smart Door Lock Industry 2021

 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. More than 7.0 million units of smart locks were sold in 2019. ... Awareness regarding smart locks is greater among consumers in higher-income segments and urban areas.

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Smart door locks are the automatic locks installed on the doors, which can be used through various apps on smartphones. They are generally keyless locks which can be operated by wifi and Bluetooth. Smart locks can provide real time information about the individual's access through doors. They can be also operated by using biometric and electromagnetic sensors. The technological development in door locks helps to limit the particular entries in office or houses.

Smart door locks are used in both residential and commercial sectors. Increasing urbanized population coupled with high demand for the door locks in   various end user industries is  expected to fuel the market growth of smart door locks