Special Offering :
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
The Global Digital Door Lock System Market size is expected to reach $7.9 billion by 2023, rising at a market growth of 32.3% CAGR during the forecast period. Digital door lock system is electronic operated physical access system which has gained popularity in the recent years, due to growing concerns about the safety and security of the personal, private, and organizational assets. Digital door locks are majorly implemented to provide superior security solutions. New security solutions are embedded into the smart home applications which are value added facilities for the end users. The managed security solutions have emerged as an affordable option for better security needs, and the factor would contribute to the market expansion during the forecast period.
Based on Type, the market report segments the market into Biometric and Keypad Lock. The Biometric Type is further segmented into Fingerprint Recognition, Voice Recognition, Face Recognition, Iris Recognition, Palm Recognition, Others. Keypad Lock includes Magnetic Strip & Electronic Strike Lock and Electromechanical Lock. Based on End User, the Digital Door Lock System market segments the market into Commercial, Government, Industrial, and Residential. Based on Regions, the Digital Door Lock System market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the competition analysis of key stake holders of the Global Digital Door Lock System Market. Key companies profiled in the report include Honeywell International Inc., Assa Abloy Group, Cisco Systems, Inc., United Technologies Corporation, Siemens AG, Panasonic Corporation, Nestwell Technologies, Vivint, Inc., Godrej Group (Godrej and Boyce), and Hanman International Pte Ltd.