Digital Door Lock System Market, By Product Type (Biometrics, Keypad Locks), By End User (Government, Commercial, Industrial and Residential), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Description

Global digital door lock system market is estimated to be valued at US$ 11.23 Bn in 2024 and is expected to reach US$ 24.07 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 11.23 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	11.50%	2031 Value Projection:	US$ 24.07 Bn

Figure. Digital Door Lock System Market Share (%), By Region 2024

Digital door lock system is an electronic lock that is used on entry doors as an advantage over traditional door lock. It uses encrypted RFID keycards, Bluetooth technology or Wi-Fi based mobile credentials to provide users secure access to homes and offices without keys. Various advanced features of digital door locks including remote locking/unlocking, temporary access, alerts and advanced access control can boost their adoption across various applications. Rising concerns about security and safety along with growing inclination towards smart home automation solutions can boost demand for digital door lock systems globally.

Market Dynamics:

Global digital door lock system market growth is primarily driven by factors such as rising security concerns, increasing adoption of smart home technologies and growing popularity of contactless access solutions. Rapid urbanization and changing lifestyles have raised security concerns among users. Digital locks provide advanced security with encrypted access protocols and ability to remotely manage user access rights from anywhere. The integration of WiFi and Bluetooth connectivity in digital locks allow users to control access through smartphones, thus, enhancing convenience for consumers. However, high initial costs and integration challenges of digital locks in existing infrastructure can limit their adoption. Ongoing technological advancements offering features like face recognition, fingerprint readers and remote access control via mobile apps can offer lucrative opportunities for market players in the near future.

Key features of the study:

This report provides in-depth analysis of the global digital door lock system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global digital door lock system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance and strategies.
Key companies covered as a part of this study include ASSA ABLOY AB, August Home, Inc., Bluetooth SIG Inc., Cansec Systems Ltd., Cisco Systems, Inc., Dorma+Kaba Holdings AG, Godrej & Boyce Manufacturing Company Ltd., Godrej Group, HavenLock, Inc., Hangzhou Hikvision Digital Technology, Hero Electronix, Honeywell International Inc., Latchable Inc., Nestwell Technologies and Panasonic Corporation.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global digital door lock system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global digital door lock system market.

Detailed Segmentation:

By Product Type
- Biometrics
- Face Recognition
- Iris Recognition
- Palm Recognition
- Voice Recognition
- Signature Recognition
- Fingerprint Recognition
- Keypad Locks
- Magnetic Stripe Locks
- Electromechanical Door Locks
- Electric Strike Locks
By End User
- Government
- Commercial
- Industrial
- Residential
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- ASSA ABLOY AB
- August Home, Inc.
- Bluetooth SIG Inc.
- Cansec Systems Ltd.
- Cisco Systems, Inc.
- Dorma+Kaba Holdings AG
- Godrej & Boyce Manufacturing Company Ltd.
- Godrej Group
- HavenLock, Inc.
- Hangzhou Hikvision Digital Technology
- Hero Electronix
- Honeywell International Inc.
- Latchable Inc.
- Nestwell Technologies
- Panasonic Corporation

Product Code: CMI806

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By End User
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Digital Door Lock System Market, By Product Type, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Biometrics
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Face Recognition
Iris Recognition
Palm Recognition
Voice Recognition
Signature Recognition
Fingerprint Recognition
Keypad Locks
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Magnetic Stripe Locks
Electromechanical Door Locks
Electric Strike Locks

5. Global Digital Door Lock System Market, By End User, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Government
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Commercial
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Industrial
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Residential
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Digital Door Lock System Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East & Africa

7. Competitive Landscape

Company Profiles
- ASSA ABLOY AB
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- August Home, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bluetooth SIG Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cansec Systems Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cisco Systems, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Dorma+Kaba Holdings AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Godrej & Boyce Manufacturing Company Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Godrej Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- HavenLock, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hangzhou Hikvision Digital Technology
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hero Electronix
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Honeywell International Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Latchable Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nestwell Technologies
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Panasonic Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

8. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Reference and Research Methodology

References
Research Methodology
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