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Smart Locks Market Research and Forecast 2018-2023

The global smart lock market size was estimated to USD 1,715 million in 2018 and expected to grow at a CAGR of 10.2% during the forecast period. A smart lock is an electro-mechanical lock. It is designed for performing locking and unlocking operations on a door on receiving such instructions from an authorized device. The instructions are provided using a wireless protocol and a cryptographic key for executing the authorization process. In addition, it monitors access and sends alerts for the different events it monitors and some other critical events regarding the status of the device.

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Smart Locks Market Research and Forecast 2018-2023

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  1. Orion Market Research Smart Locks Market: Industry Growth, Size, Share and Forecast 2019-2025 Request a free sample of our report on Smart Locks Market - Industry Size, Global Trends, Competitive Analysis and Forecast, 2018-2023 https://www.omrglobal.com/request-sample/smart-lock-market ------------------------------------------------------------------------------------ Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +1 646-755-7667, +91 7803040404

  2. The global smart lock market is significantly growing at a CAGR of 10.2 during the forecast period. Most of the governments globally have realised the need of smart locking system for promoting the concept of smart cities in their countries. Many developed economies such as the US, UK, and Canada have launched various initiatives for implementing the smart cities services such as smart home and smart transportation in their countries. For instance, the US Department of Transportation leveraged around $350 million in public and private funds for smart city and advanced transportation technologies as a part their smart city challenge. Browse the full report Smart Locks Market Research and Forecast 2018-2023 at https://www.omrglobal.com/industry-reports/smart-lock-market Further, the UK government has also granted funding for testing smart projects and promotion of smart related initiatives. They awarded Glasgow $33.59 million for TSB’s Future Cities Demonstrator project to develop a city management system and $4.2 million each to Bristol, London and Peterborough for forwarding smart projects. Additionally, developing countries including India, China, and Brazil have also been implementing these measures to promote digitalization. All these factors reflect the government initiatives taken towards development of smart cities and promoting the growth of the global smart lock market. To learn more about this report request a free sample copy @ https://www.omrglobal.com/request- sample/smart-lock-market The major factor that is promoting the development of the smart cities across the globe is estimated to be the growing urbanization. World is witnessing rapid urbanization, as the major cities are becoming the magnet for talent and driving the growth of the economy. According to United Nations, in the year 2014, approximately 52% of the world population resides in the urban areas, up from 30% in 1950. Population residing in the urban areas are further estimated to reach 66% by the year 2050. The worlds urban population in the year 2015 was estimated to be about 3.7 billion people and the number is further estimated to be doubled by the year 2050. There is a significant growth in the demand for intelligent home security systems such as smart doorbell cameras; and smart locks which drives the global smart lock industry. According to the alarms.org (official site of the National Council for Home Safety and Security), the global market for smart home is estimated to reach $40 billion by 2020. There is a huge adoption of smart homes as it saves time, energy and money. Security is the top concern for the smart home users. Visit here to know more about Global Smart Lock Market

  3. Global Smart Lock Market Segmentation By Communication •Bluetooth •Wi-Fi •Others By Application •Residential •Government •Commercial By Type •Padlocks •Lever Handles •Deadbolts •Others Global Smart Lock Market – Segment by Region North America •US •Canada Europe •Germany •UK •France •Spain •Italy •Rest of Europe

  4. Asia-Pacific •China •Japan •India •Rest of Asia-Pacific Rest of the World •Middle East & Africa •Latin America About Orion Market Research Orion Market Research (OMR) is an Indian market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. For More Information, Visit Orion Market Research Media Contact: Company Name: Orion Market Research Contact Person: Mr. AnuragTiwari Email: mailto:info@omrglobal.com Contact no: +1 646-755-7667, +91 780-304-0404 Source: Global Rooftop Solar Panel Market

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