Smart locks are nothing but one of the finest inventions in the field of keyless lock systems. These are keyless because unlike the conventional locks there are no keys here. These are called smart locks because they can actually be operated using a smart device, like your smartphone. Through a downloaded app, you can remotely lock and unlock the smart lock systems.
No doubt, smart locks are today becoming the first choice of American consumers who are looking to enhance the security of their homes and offices. A modern homeowner is a person who believes in the power of next-gen innovative devices. This is why smartphone technology evolved at such a neck-breaking speed in the last decade. And, next in the line is smart locks. In fact, the Internet of Things (IoT) is another segment that is fast catching up – the smart lock system is one major part of the same.
The global market for smart locks is growing exponentially at the moment. The value of the market is expected to reach USD 2.67 billion in the next three year, that is by 2023. In fact, the industry has grown at a CAGR of 13.11% from 2017 onwards. And, is going to grow at the same rate till 2023.
The key driver behind this phenomenal growth is the fast speed of adoption of smartphones and smart devices. The other reason is the growing issues of safety and security in the everyday living of the common man. While the conventional lock systems were great support and solution in the centuries gone-by, today the dynamics have transformed radically – this is why people are constantly looking for means and ways to enhance their physical safety and security.
The fact that the smart lock is connected via Wi-Fi is one of the reasons why more and more people are finding it easy to operate and use it. It is convenient in the truest sense of the word. Wi-Fi connects many devices seamlessly including your smartphone, computers, laptops and tablets. Then, why not the lock to your home or office?
As the world opens its doors to higher internet speeds and connectivity, the market for smart locks is only going to grow from here on, in the US as well as worldwide. And, since IoT is slowly becoming the way of life for smart consumers, there is no stopping the smart lock market from reaching the top of the ladder in the locks industry in the next few years.
Source: Park Avenue Locks
1080 38th St