The global smart locks market is highly fragmented in structure, finds a report by Transparency Market Research (TMR). Innovation and product development is primary strategy adopted by key players, namely, Panasonic, AugustHome, Honeywell, and Kwikset to remain competitive in the market. However, their focus is likely to shift towards mergers, acquisitions, and partnerships in the near future for business expansion. As per TMR, the worldwide market for smart locks was worth US$226.7 mn in 2015. Researchers expect the opportunity in this market to increase at a CAGR of 18.30% during the period from 2016 to 2024 and reach US$1.01 bn by the end of the forecast period. The commercial sector emerged as the key application area of smart locks in 2015. On the grounds of the advancements in the technology ant the rising crime rate across the world, the adoption of these locks is likely to swell in this sector over the forthcoming years, states the report. Get Brochure Of Report https://www....