The global digital door lock system market is projected to grow at a CAGR of 34% during 2019 to 2024. The growth of digital door lock system market is driven by increasing demand for advanced, efficient and cost-effective digital door security systems and solutions, and enhanced home security solutions.
Some of the Key Questions answered in
this exclusive report are:
Q.1 What are some of the
most promising potential, high-growth opportunities for the global digital door
lock system market by product type (biometrics (face recognition, iris
recognition, palm recognition, voice recognition, signature recognition, and
fingerprint recognition), keypad locks (magnetic stripe locks,
electromechanical door locks, and electric strike locks), end-use (residential
and commercial (healthcare, education, hospitality, retail, office, and other),
and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the digital door lock system market?
Q.4 What are some
changing demands of customers in the digital door lock system market?
Q.5 What are the new
developments in the digital door lock system market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this digital door lock system area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this digital door lock system
market?
Emerging trends, which
have a direct impact on the dynamics of the industry, include development of
voice assistant technology for high-end automated households, emergence of air
quality sensor devices that measure volatile organic compounds (VOCs), and
growing adoption of video enabled drones.
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Market Segmentation:
Based on product type,
the digital door lock system market is segmented into biometrics (face
recognition, iris recognition, palm recognition, voice recognition, signature
recognition, and fingerprint recognition), keypad locks (magnetic stripe locks,
electromechanical door locks, and electric strike locks). The biometrics
segment accounted for the largest share of the market in 2020 and is expected
to register the highest CAGR during the forecast period, due to the wide scale
deployment of fingerprint recognition devices across residential and commercial
sectors.
North America will
remain the largest market over the forecast period due to technological
advancements and increased adoption of safety and security measures. Use of smartphones
and other smart devices supported the demand of smart security solutions in the
region.
Key Players in the
digital door lock system market are Godrej and Boyce, Nestwell, Hanman, Cisco,
Panasonic, Assa Abloy, Vivint, Allegion, Wintec, Honeywell, Hitachi, United
Technologies, Tyco, Siemens, and Xeeder.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their position
in the business.
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About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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