According to the FBI statistics, home robberies accounted for approximately 17.1% of all property crimes in 2020. By subcategorization, crime offenses victims suffered an estimated USD 3.4 billion in losses of property and forcible entry was involved in 56.7% of burglaries in 2020. These all the possibilities increase the demand for more secure and advanced security devices. The growing popularity of IoT and Internet penetration, are among the major factors which is creating a substantial opportunity for the growth of the deadbolt smart lock. Therefore, the market is projected to grow rapidly during the forecasted period.
