A digital door lock system comprises various components like an auto-recognition keypad, proximity sensor, digital keypad, voice command module, and photoelectric beam. The auto-recognition keypad authenticates the access code provided by the user and performs the necessary operations in seconds. Upon activation of the voice command module, the user may either open or close the door of the house. The proximity sensor detects movement in front and behind the door and activates the digital keypad if any such movement is detected. The digital door lock system comes with automatic and manual adjustment features that enable the users to fine-tune the level of protection available against unwanted access by others.
Market Dynamics:
Rapidly growing micro, small, and medium enterprises (MSMEs) and increasing investments and economic growth in emerging markets is driving growth of the digital door lock system market. As per the MSME Ministry data, as of May 16, 2021, Registered micro-enterprises stood at ~ 28 lakh (93%), followed by small enterprises at 1.78 lakh (6%) and midsized enterprises at 24,657 (1%) in India. The Indian MSMEs sector contributes about 29% towards the GDP through its national and international trade. Moreover, growing smart homes around the globe is again propelling growth of the market.
Low IT literacy among consumers and decreasing ownership-to-renting ratio worldwide are factors expected to restrict growth of the market.
Key features of the study:
- This report provides in-depth analysis of the digital door lock system market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 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 Honeywell International Inc., Dorma+Kaba Holdings AG, Godrej & Boyce Manufacturing Company Ltd., Samsung Electronics Co Ltd, Assa Abloy Group, Vivint, Inc., Cisco Systems, Inc., Nestwell Technologies, United Technologies Corporation, Panasonic Corporation, and Siemens AG.
- 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
- The 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:
- Global Digital Door Lock System Market, By Product:
- Biometrics
- Face Recognition
- Iris Recognition
- Palm Recognition
- Voice Recognition
- Signature Recognition
- Fingerprint Recognition
- Keypad Locks
- Magnetic Stripe Locks
- Electromechanical Door Locks
- Electric Strike Locks
- Global Digital Door Lock System Market, By End-use:
- Government
- Commercial
- Industrial
- Residential
- Global Digital Door Lock System Market, By Region:
- North America
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Europe
- By Country
- Germany
- Italy
- U.K.
- France
- Spain
- Russia
- Rest of Europe
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Company Profiles
- Honeywell International Inc. *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Dorma+Kaba Holdings AG
- Godrej & Boyce Manufacturing Company Ltd.,
- Samsung Electronics Co Ltd
- Assa Abloy Group
- Vivint, Inc
- Cisco Systems, Inc.
- Nestwell Technologies,
- United Technologies Corporation
- Panasonic Corporation,
- Siemens AG.
