{"id":405955,"date":"2019-07-05T12:30:02","date_gmt":"2019-07-05T12:30:02","guid":{"rendered":"http:\/\/www.abnewswire.com\/pressreleases\/?p=405955"},"modified":"2019-07-05T12:30:02","modified_gmt":"2019-07-05T12:30:02","slug":"smart-lock-market-to-grow-at-a-cagr-of-601-from-2018-to-2024-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/smart-lock-market-to-grow-at-a-cagr-of-601-from-2018-to-2024-grand-view-research-inc_405955.html","title":{"rendered":"Smart Lock Market To Grow At A CAGR Of 60.1% From 2018 to 2024: Grand View Research, Inc"},"content":{"rendered":"
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
According to report published by Grand View Research, The global smart lock market size was estimated at USD 559.4 million in 2016. It is expected to witness a phenomenal CAGR of just over 60.0% over the forecast period. <\/div>\n

The global smart lock market<\/a> 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Browse Details of Report, Please Visit @ https:\/\/www.grandviewresearch.com\/industry-analysis\/smart-lock-market<\/a><\/strong><\/p>\n

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Further Key Findings from the Report Suggest:<\/span><\/strong><\/p>\n