Smart Doorbell Market| Increasing Demand for Smart Locks to Boost the Market Growth

The smart doorbell market size is poised to grow by USD 1.19 billion during 2020-2024, progressing at a CAGR of over 25% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Smart Doorbell Market 2020-2024 (Graphic: Business Wire)

The demand for smart locks is on the rise because of the benefits such as flexibility and high security, easy installation, remote locking and unlocking, and instant alerts to homeowners. The rise in cases of burglary in recent years has contributed

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Europe Smart Locks Market Forecast to 2027

The Europe Smart Locks market was valued at US$ 401. 9 million in 2019 and is projected to reach US$ 1208. 7 million by 2027; it is expected to grow at a CAGR of 15. 1% from 2020 to 2027. A steady growth in the adoption of portable security devices, a rise in security threats, and the development of smart cities are some of the other factors driving the smart locks market.

New York, Oct. 01, 2020 (GLOBE NEWSWIRE) — announces the release of the report “Europe Smart Locks Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Type, Communication Technology, Application, and Country” –
Nevertheless, the high cost of devices, misplace of smartphones, and fear of privacy intrusion are expected to hinder the market growth.

Additionally, the emerging popularity of smart technology is projected to offer new opportunities for the smart locks manufacturers during the

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