Smart Locks Market Expected to Reach $1,175 Million Globally by 2023 - PowerPoint PPT Presentation

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Smart Locks Market Expected to Reach $1,175 Million Globally by 2023

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Smart home devices are considered as the most evolutionary innovation for the residential & commercial spaces, owing to their convenient, secure, and sustainable features. The global smart locks market is expected to evidence significant growth due to rise in security concerns and enhanced safety features provided through smart automation & security systems. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart locks address these issues with highly-sophisticated remote monitoring technologies. The global market size was valued at $416 million in 2016, and is estimated to reach at $1,175 million by 2023, growing at a CAGR of 16.4% from 2017 to 2023. – PowerPoint PPT presentation

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