Digital Door Lock System Market- Global Industry Insights,2018?2025

Posted by Apeksha on May 29th, 2018

Growing industrialization, considerable development of operations and service units of enterprises across countries, and growing demand for security solutions in the residential sector are some of the prominent factors fueling the growth of digital door lock systems market.

Incorporation of motion-activated camera, two-way audio communication, and -video surveillance, are some of the other features that have led to considerable increase in the growth of the digital door lock system market globally. These systems account for the largest share of the revenues predominantly owing to the large scale adoption of fingerprint sensors in the commercial and government end-use segments. This system can be programmed to provide access to any required number of individuals. Moreover, low ownership cost, easy availability, accurate information processing, and no requirement of additional objects to provide access will continue to drive the revenues.

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Europe dominated the global digital door lock system market size in terms of both volume and value in 2016.
Europe held the largest industry share in 2016. This is owing to the high living standards, considerable demand in the residential segment for security purposes, and high adoption of technology of population in this region. Increased business activities, high urbanization rates, and high spending capacity of population in emerging economies of Asia Pacific is expected to present unprecedented demands in the region. China, India, South Korea, Pakistan, and Japan are expected to remain the prominent target countries of these solution providing participants. Increasing number of terrorist activities in these emerging nations in conjunction with a large number of infrastructure investment activities is expected to provide considerable demand for security in the government end use segment over the forecast period.

Key Players operating in the Global Digital Door Lock System Market

Key players operating in the global digital door lock system market include ABB, Cisco Systems, Inc., Hanman International Pte Ltd., Nestwell Technologies, Allegion PLC, Godrej & Boyce Manufacturing Company Ltd., Hitachi Ltd., Panasonic Corporation, United Technologies Corporation, Assa Abloy Group, Wintec Electronic Tech Co. Ltd., Vivint, Inc., Xeeder Technology Co. Ltd., Tyco International Ltd., and Honeywell International Inc.

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