Increasingly, mechanical locks have given way to electronic, smart locks that bring various benefits to residents. This note discusses the latest trends and what to look for in smart locks.
Locks are indispensable items in residential properties. Increasingly, mechanical locks have given way to electronic,
smart locks that bring various benefits to residents. This note discusses the latest trends and what to look for in smart locks.
Smart locks are BLE- or Wi-Fi-enabled devices that allow residents to leave mechanical keys behind, locking and unlocking doors with the touch of a finger or tap of a smartphone. Growth is also seen in this sector. According to Grand View Research, the global smart lock market was valued at US$1.38 billion in 2020 and is expected to grow at a compound annual growth rate of 21.4 percent from 2021 t...