The smart lock market size is anticipated to grow owing to the rising security concerns among consumers and the rising proliferation of home automation systems, according to Global Market Insight.
The smart lock market size is anticipated to grow owing to the rising security concerns among consumers and the rising proliferation of home automation systems, according to Global Market Insight.
Thefts and burglaries have risen significantly in the recent years. For instance, in 2016, an estimated 2.5 million home invasions and property thefts were registered in the U.S. with an average estimated loss of US$2,230 per break-in. This has fueled the demand for smart locks and has led consumers to transition away from traditional lock systems owing to the higher security and convenience that smart systems provide.
Additionally, these detect tampering alert the users and the authorities discretely before...