Digital Door Lock System Market Size Report, Industry Share, Analysis, Growth, 2032

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In this modern era, smart devices are nothing but the innovative evolutionary products that are need of the hour for almost every citizen across the globe. The digital door lock system is one among the number of digital products used in the daily life. These digital locks operate using various technologies such as Bluetooth, Wi-Fi, near-field communication (NFC), and Zigbee, among others. Digital locks are easy to install, low cost security solutions, which can be operated as per the user’s convenience from the smartphones. Some of the main advantages offered by digital locks are they can be opened or deactivated by authentication such as passwords and passphrases, biometrics, numerical codes, and RFID, among others.

Digital door lock system market is poised to flow exponentially in the near future owing to the growing concerns for security in residential, commercial, industrial, and government campuses. Availability of advanced features such as face and iris recognition, as well as voice and fingerprint recognition in the digital door locks cater to the growth of digital lock system market globally. Effective access-based control solutions at several places including multinational companies, government organizations, and research institutions are among the early adopters of digital lock systems all over the world.

Growing concerns about the security of residential buildings are expected to boost the growth of digital lock system market. High penetration of smartphones, need of security in private properties and apartments in urban areas, and Do It Yourself (DIY) are some other factors paving way for the global digital lock system market. In the developed parts of the world such as U.S. and Europe, use of smartphone as a means to gain entry at prohibited places is fueling the growth of digital door lock system market. Whereas, the high initial installation prices for these systems are expected to hamper the growth of this market. Government’s initiatives and plans to develop smart cities and buildings which will need strong security and access based mechanisms to restrict unauthorized entries are projected to offer various opportunities in the digital door lock system market.

Market segmentation of global digital door lock system market is based on product type, end-user, and region. The product type segment is categorized into biometrics and keypad locks. The biometrics segment is further bifurcated into face recognition, iris recognition, voice recognition, signature recognition, fingerprint recognition, and vein and palm recognition. Magnetic stripes, electromechanical, and electric strike are the sub-segments included in keypad locks segment. The end-user segment is categorized into residential, commercial, industrial, and government. Regional segmentation of the digital door lock system market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., UK, France, Germany, China, Japan, India, and Brazil.

The major players operating in the global digital door lock system market are Hanman International Pvt. Ltd., Nestwell Technologies, Godrej & Boyce Manufacturing Company Ltd., Cisco Systems, Inc., Panasonic Corporation, Hitachi Ltd., Wintec Electronic Tech Co. Ltd., Assa Abloy Group, Xeeder Technology Co. Ltd., United Technologies Corporation, Honeywell International Inc., and Siemens AG, among others.