Press release
Smart Lock Market Forecast: Emerging Therapies and Competitive Landscape
Smart Lock Market
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As per the FBI statistics, home burglaries accounted for 17.1% of all property crimes in 2020. By subcategorization, forcible entry was involved in 56.7% of burglaries, and burglary offenses victims suffered an estimated USD 3.4 billion in property losses in 2020. This suggests possibilities for more secure and advanced security systems. The increasing Internet penetration and popularity of IoT, combined with the benefits of connecting smart locks to the Internet, are among the major factors creating a significant opportunity for the smart lock market to grow. Therefore, the market is estimated to grow rapidly over forecasted period.
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