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As per MarketsandMarkets, a reliable market research and consulting firm, the   Smart Lock Market  is expected to grow rapidly and reach a valuation of USD 3.9 billion by 2027. According to the prediction, the company would grow at an excellent Compound Annual Growth Rate (CAGR) of 12.9% from 2022 to 2027, which represents a significant increase from its USD 2.14 billion 2022 valuation. This strong expansion indicates that smart lock technologies are becoming more and more in demand, and it also points to a bright future for the sector in the coming years. Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=82787906 The development of important market segments for smart locks is reshaping the landscape and providing stakeholders and industry players with insightful information. Important subsectors that are starting to emerge are Product Type (Deadbolt, Lever Handle, Padlock, and Others); Unlocking Mechanism (Keypad, App-based, Hybrid/Integrated, and Tradit

The   Smart Lock Market   is anticipated to grow at a CAGR of 12.9% between 2022 and 2027, from an estimated value of USD 2.1 billion in 2022 to USD 3.9 billion by 2027. Increased security and safety concerns, expanding smartphone and other connected device use, and their better features over conventional lock systems are all expected to contribute to the growth of the smart lock market. The vendor's cloud server houses all data pertaining to a smart lock's characteristics and its virtual key. Keys can be easily shared with other authorised people using smart locks, and unauthorised entry and lock breaking can be tracked and reported. The vendor cloud server, however, is vulnerable to attacks such as code injection, cross-site scripting, password eavesdropping, and others. Through a man-in-the-middle (MITM) attack, data communication between a smartphone and a smart lock using the Bluetooth Low Energy (BLE) protocol can also be compromised. Download PDF Brochure @  https://www.

During the Forecast Period, market participants should benefit from the growing usage of IoT-based security systems and growing urban infrastructure in emerging nations. The  Smart Lock Market  includes major Tier I and II players like ASSA ABLOY AB (Sweden), dormakaba Group (Switzerland), Spectrum Brands, Inc. (US), SALTO Systems, S.L. (Spain), Allegion plc (Ireland), and others. These players have a strong market presence for Smart lock across various countries in North America, Europe, APAC, and RoW. Rising adoption of smartphones and other connected devices The market for smart locks is strongly supported by the rising demand for tablets, smartphones, and other connected devices. In many wealthy economies, smartphone use is growing quickly. The demand for smartphones will likely continue to be driven by emerging markets like China, India, Malaysia, and Indonesia. Companies are being encouraged to deliberately spend more in smartphone-based applications and mobile websites by the bo