Biometric Digital Door Lock Systems An Insight On the Important Factors and Trends Influencing the Market

Market Taxonomy

Digital Door Lock System Market Scope Of The Report

The global digital door lock systems market will continue to be driven by growing number of security breaches and thefts to physical assets and real estate properties.

The adoption of digital door lock systems will witness an upsurge due to the increasing preference of consumers in using advance technologies for safeguarding their physical spaces.

Demand for digital door lock systems in residential and commercial sectors will witness considerable uptick, with manufacturers remaining focusing adding new features to make the security functions of their products more robust.

This report, compiled by Fact.MR, provides in-depth analysis of the global digital door lock system market for the forecast period 2017-2026, offering key insights on the growth prospects of the market.

Scope:

The scope of the Fact.MR’s report is to analyze the global digital door lock systems market for the forecast period 2017-2026 and offer accurate and unbiased insights to the readers.

Digital door lock systems suppliers, stakeholders and manufacturers in the global information and communication technology industry can benefit from the analysis offered in this report.

Comprehensive analysis regarding the impact of technological advancements such as cloud computing, Internet of Things (IoT), big data and artificial intelligence is detailed in this report.

The comprehensive study throws light on various trends, dynamics and restrains shaping future of the market, which can serve as a platform of further study, interest and understanding for the leading industries, journals and trade magazines pertaining to global digital door lock systems market.

Summary:

The report commences with introducing the current market scenario for digital door lock systems. The executive summary section of the report offers insights to users regarding the future scope of the global digital door lock systems market.

Brief information on the crucial aspects, statistics and facts on the global digital door lock systems keyword market is highlighted in this section.

Overview:

The next section offers an overview of the global digital door lock systems market. This section includes definition of the product – digital door lock systems, along with insights on dynamics contributing towards growth of the market.

The overview also throws light on Year-on-Year growth and market value defining the future progress and decline of the global digital door lock systems.

Statistics on the Year-on-Year growth provides readers with a broader view on expected progress patterns reshaping growth over the forecast period.

In the succeeding section, the report offers insights on major trends, retrains and drivers from demand, supply and macro-economic perspectives.

The report also focuses on impact analysis of key drivers and restraints that offers better decision-making insights to clients.

The report further provides the readers with information on the leading technology and advancements traced in the global digital door lock systems market.

Up-to-date information and latest advancements regarding growth opportunities can benefit the leading manufacturers of digital door lock systems.

With continuous evolution and advancements in technology, tracking the latest trends and developments is fundamental for digital door lock systems manufacturers to formulate key business strategies.

Detailed insights regarding the supply chain, list of distributors, raw material sourcing, cost structure, and pricing analysis are provided in this section.

Considering the global digital door lock systems market’s wide scope, Fact.MR’s report provides in-depth insights & forecast based on segment-wise analysis.

The digital door lock systems market has been categorized on the basis of product type, end-user, and region. This sections delivers a comprehensive segmentation analysis, along with a detailed country-wise forecast offered on all parameters.

In the last section, the report provides information regarding the competitive landscape, along with a dashboard view of the market players and company analysis.

This competitive intelligence is based on the providers’ categories across the value chain, and their presence in the global digital door lock systems market.

Over 26,700 thousand units of digital door lock systems will be sold in Europe by 2026-end

Throughout the forecast period, Europe will remain at the forefront of global digital door lock system market expansion. The report estimates that by the end of 2026, around one-third share of global market volumes will be accounted by the sales of digital door lock systems in Europe. In terms of volume, the expansion of digital door lock system market in North America and Asia-Pacific excluding Japan (APEJ) region is pegged to be robust. By the end of 2026, North America’s digital door lock system market will record sales of over 21,600 thousand units of digital door lock systems, while the APEJ digital door lock system market will register sales of nearly 15,500 thousand units.

Demand for fingerprint recognition digital door lock systems to lose traction

Key findings from the report that digital door lock systems with fingerprint recognition has been a top-selling product in the global market till date. In 2017, more than 2,000 thousand units of digital door lock systems with fingerprint recognition have been sold globally. However, the demand for fingerprint recognition digital door lock systems will lose traction due to emergence of biometric foils that can replicate fingerprints, creating a major security loophole. Meanwhile, the demand for signature recognition digital door lock systems is poised to take great leaps and register global sales of over 14,000 thousand units. In terms of volume, digital door lock system equipped with iris recognition will register fastest growth at a CAGR of 41.3% over the forecast period. The report also reveals that digital door lock systems will be predominantly used by the government and in commercial settings. The industrial end-use of digital door lock systems is expected to incur moderate traction, while residential sector will remain a lucrative end-user segment in the global digital door lock system market through 2026.

The global market for digital door lock systems is characterized by high barriers for new players, with notable presence of regional players meanwhile intensifying the competitiveness in the market. Key players actively contributing to the market growth include Honeywell International Inc., Godrej & Boyce Manufacturing Company Ltd., Assa Abloy Group, Cisco Systems Inc., united Technologies Corporation, Siemens AG, Panasonic Corporation, NestwellTechnologies, Vivint Inc., Allegion PLC, ABB Ltd., Hanman International Pte Ltd., Hitachi Ltd., Wintec Electronic Tech Co. Ltd., Xeeder Technology Co. Ltd., Tyco International Ltd., Dormakaba Holding AG, Adel Lock, and Stone Lock, among others.