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Smart Door Lock Market Research Report 2017

Smart Door Lock Market Research Report 2017

Submitted by • January 3, 2019 franknraf.com

Frank n Raf Market Research provided Smart Door Lock Market. Smart Lock Market is estimated to $0.97 billion in 2016 and is expected to expanse USD 2.40 billion by 2023 growing at a CAGR of 13.7% from 2016 to 2023. Rising demand for the gingery unlocking mechanism is a primary factor promoting the market. Some of the key factors that artery the market growth include growing awareness regarding safe home solutions, stable growth in portable connected smart devices and rising demand for secure locks. However, threat from phones as its backing being cramps and issues associated with high R&D costs are creating hurdles in the market growth. Moreover, home access and cloud based lock management solutions are likely to present considerable growth opportunities in this market. A smart lock is an electromechanical lock which is programmed to perform locking and unlocking operations on a door when it admits such instructions from an authorized device using a wireless protocol and a cryptographi

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