Digital Door Lock System Market Size, Share, Trends, Analysis, Global Report and Forecast 2023-2030 | ABB, Cisco Systems, Inc

Digital door lock systems provide secure access to buildings through electronic locks and keypads. They offer convenience, security, and remote access for homes and commercial spaces like offices.

Market Dynamics:

The digital door lock system market is expected to witness significant growth due to rising adoption of smart home technologies and growth in residential construction activities. Consumers' increasing preference for smart and automated home security systems is another factor boosting the demand for digital door locks. These locks provide better access control and security compared to traditional mechanical locks. Moreover, increasing awareness about home automation and growing need for energy efficient electronic locks will continue driving market expansion over the forecast period.

The global digital door lock system market is estimated to be valued at US$ 4,617.5 million in 2021 and is expected to exhibit a CAGR of 34.0 % over the forecast period (2021-2028).

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Digital Door Lock System Market Drivers

Growth in residential and commercial construction industry

The demand for digital door lock systems is increasing rapidly with the growth in residential and commercial construction sector across the globe. With increasing urbanization and smart city projects, many new residential societies, commercial buildings, offices and other public places are being constructed which requires advanced door locking solutions for safety and security. Digital door locks provide enhanced security compared to traditional mechanical locks and hence are preferred for newly constructed buildings.

Increasing demand for automation and smart home technologies

Consumers are increasingly adopting smart home technologies for added convenience, automation and enhanced security. Digital door locks can be easily integrated with other smart home devices and remotely controlled through mobile apps. Homeowners are opting for digital door locks to automate the entry and exit functions as well as integrate the locks with smart alarm systems and cameras. The increasing trend towards smart and automated homes is a major factor fueling the demand for digital door locks.

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
Digital Door Lock System Market Opportunity

Growing demand from hospitality sector

The hospitality industry worldwide is showing increased inclination towards digital door locks for enhanced guest safety and experience. Features like remote entry/exit, activity logs and audit reports are valuable for hotels and resorts. Digital locks can be programmed accurately according to guest stay duration thereby streamlining room operations. Their ease of use and minimal touch access is ideal in the current scenario. With recovery of hospitality sector post pandemic, the demand from hotels, resorts and other accommodations is expected to provide new growth prospects.

Digital Door Lock System Market Trends

Integration with access control systems

There is a growing trend of integrating digital door locks with advanced access control systems having features like remote management of users and access permissions, alarms and notifications. Door locks can be configured into sophisticated access control networks along with other identity and entry management components. This enables centralized control of user access across multiple entry points. The trend is allowing more complex yet efficient implementation of digital locks suited for large organizations, commercial buildings and other critical infrastructures with strict security requirements.

Top Key Players:

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.

Detailed Segmentation:

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Regional Analysis:

⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Digital Door Lock System Market over the forecast period?
What are the key trends expected to influence the Digital Door Lock System Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Digital Door Lock System Market?
What long-term impact will strategic advancements have on the Digital Door Lock System Market?
Who are the key players and stakeholders in the Digital Door Lock System Market?
What are the different segments and sub-segments considered in the Digital Door Lock System Market research study?
Strategic Points Covered in Table of Content of Global Digital Door Lock System Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Digital Door Lock System market.

Chapter 2: Exclusive Summary - Digital Door Lock System Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Digital Door Lock System Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Digital Door Lock System market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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