Smart Locks Market – Turn your phone into your key

Smart Locks Market – Turn your phone into your key
Changing Your Locks? Smart Locks May Be The Way To Go

Thanks to the growing demand for smart city infrastructure and the progress of the telephony hardware from 2G to 4G, as well as 5G devices, the global smart locks has developed phenomenally over the last few years. Swift urbanization, increasing disposable income of consumers, modifying government norms for energy conservation, and the proliferating Internet and IoT across the world have also reflected impressively on this.

Growing use of smart locks in residential and commercial segments and growing demand for smart locks from other industries including industrial and government are another factors driving the growth of the smart locks, globally.

Smart locks find a widespread application in the commercial, industrial, residential, and the government sectors. Among these, the demand for these locks is higher in the commercial sector and is anticipated to remain so in the years to come. The increasing crime rate across the world has boosted the uptake of these devices in the commercial sector and as the technology will advance, the rate of adoption will go up further.

Deadbolts and lever/knobs are the two main products available in the global market for smart locks. In 2015, the deadbolt segment dominated the market with a majority share, thanks to the low installation costs and high durability of these bolts. The trend is expected to continue like this over the forthcoming years.