Press release
Smart Locks Market - Widespread Prevalence of Smart Home Facilities to Fuel the Market
The world smart locks market is estimated to rise substantially within the duration of 2016 to 2024, due to rising progress in various technologies such as 2G, 4G, a nd 5G, technologies together with the soaring demand for the infrastructure of smart city.The world market for smart lock is quite fragmented due to the presence of many different players in most of the regions across the globe. The leading market players are making investment hugely in the activities of research and development so as to bring about product development to progress in the market.
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Regionally, the research report makes a presentation of an overview of the growth prospects of the said market across various geographies such as South America, North America, Middle East and Africa, Asia Pacific, and Europe.
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The said report makes a statement that the international market for smart locks is presently dominated by developed regions of Europe and North America, with Europe trailing North America in the year 2015. The regional market of North America accounted for a substantial share of around 33.6% of the overall market.
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Both increasing crime rates and technological advancements across the globe are contributing towards the growth of world market for smart locks. In addition to that, the widespread prevalence of smart home facilities together with the unprecedented proliferation of smartphone in the last few years has been driving the said market.
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