openPR Logo
Press release

Global Digital Door Lock System Industry Best Market Trends and Useful Forecast Estimation till 2026

02-16-2018 03:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Fact.MR

Fact.MR

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 systems market for the forecast period 2017-2026, offering key insights on the growth prospects of the market.

Request For Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=409

Digital door locks are locks that are installed on doors of various structures and can be operated with the convenience of applications on the user’s smartphone. These keyless locks operate on technologies such as Bluetooth and Wi-Fi.

Penetration of Smartphones & Mobile Broadband to Augment the Market Expansion

Smart devices are considered to be one of the major evolutionary innovations for commercial and residential spaces on the back of their sustainable, secure and convenient features. Significant growth in the security concerns, along with advancement in wireless communication technologies have led to the development of digital security systems such as digital door locks. The industry is at the inflection phase, mainly because of broader technology trends driving the overall smart home industry. However, smartphone penetration is sustaining expansion of the market for digital door locks. Declining prices of cloud infrastructure and mobile broadband have led to growing user convenience in remotely monitoring and controlling various electronic devices, and digital door locks are no exception.

The global market for digital door locks is characterized by significant opportunities for expansion in cloud-based lock management solutions and home-access solutions, owing to the advent of integrated connectivity. There has been a rise in implementation of sophisticated technologies including Bluetooth, Z-wave/ZigBee, Wi-Fi, and near-field communication (NFC) in access locks, which in turn is providing a boost to advancement of digital door locks. In addition, inclusion of add-on-locks and capacitive touch screens in digital door locks are enhancing the consumer experience and proliferating adoption. However, with growing market perceptions regarding problems associated with battery replacement, dead phones, power usage, and software security are likely to hinder the market growth in the upcoming years. In addition, the market encompasses a huge cost of sustainable technology, thereby posing a challenge for penetration into emerging economies to a certain extent.

According to Fact.MR study, the global digital door lock system market is projected to grow at a CAGR of 30% in terms of volume during the period 2017-2026. In terms of value, over US$ 37 Bn worth of digital door lock systems have been sold globally by 2026-end.

Browse Full Report With TOC- https://www.factmr.com/report/409/digital-door-lock-system-market

Demand for Iris Recognition Digital Door Lock Systems to Gain Traction

The report projects that the demand for fingerprint recognition digital door lock systems will lose traction over the forecast period. Malpractices such as the use of thin, pressure-sensitive films to replicate fingerprint impression continue create major concerns for the security measures of fingerprint recognition digital door lock systems. On the other hand, the demand for iris recognition digital door lock systems is expected to incur considerable gains, and register a CAGR of 41.3% in terms of volume over the forecast period. The report also projects that governments and commercial settings will be the largest end-users of digital door lock systems through 2026.

Competition Tracking

The report has profiled leading manufacturers of digital door lock systems, which include Godrej & Boyce Manufacturing Company Ltd., Honeywell International Inc., Cisco Systems Inc., Assa Abloy Group, United Technologies Corporation, Panasonic Corporation, Siemens AG, Vivint Inc., Nestwell Technologies, ABB Ltd., Allegion PLC, Hitachi Ltd., Hanman International Pte Ltd., Dormakaba Holding AG, Xeeder Technology Co. Ltd., Wintec Electronic Tech Co. Ltd., Tyco International Ltd., Stone Lock, and Adel Lock. These companies are likely to instrument the expansion of the global digital door lock systems market through 2026.

Request For Discount On This Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=409

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

Contact Us
Fact.MR
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Telephone: +353-1-6111-593
Email: sales@factmr.com/
Web: https://www.factmr.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Digital Door Lock System Industry Best Market Trends and Useful Forecast Estimation till 2026 here

News-ID: 946798 • Views: 180

More Releases from Fact.MR

01-20-2021 | Sports
Fact.MR
Top 10 Key Future Prospects of Hiking Footwear Market for Forecast Period 2017-2 …
The global hiking footwear market is projected to expand at a robust CAGR throughout the forecast period 2017 to 2022, according to a new report by Fact.MR. Hiking footwear offer high functionality, and great weathering resistance, and therefore are useful for travelling long distances. Sales of hiking footwear worldwide will account for revenues nearly US$ 70,000 Mn by 2022-end. Request a report sample to gain comprehensive market insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=232 The United
01-20-2021 | Sports
Fact.MR
Baseball Shoes Market: Information, Figures and Analytical Insights 2017 to 2022
Fact.MR’s latest study reveals that the global market for baseball shoes will expand at a moderate pace during 2017 and 2022. As per the study, the global baseball shoes market is poised to reach a valuation in excess of US$ 4,500 Mn by the end of 2022. Request a report sample to gain comprehensive market insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=231 Companies that manufacture baseball shoes are actively focusing on improving the functionalities and design
Automotive Fluid Reservoir Market Will Watch a Sensational Development By 2029
The latest research report published by Fact.MR on the Automotive Fluid Reservoir Market is intended to offer reliable data on various key factors shaping the growth curve of the global Automotive Fluid Reservoir market. This report works as a rich source of information for key entities such as policy makers, end-use industries, investors, and opinion leaders. Thus, readers get complete synopsis on drivers, restraints, challenges, trends, and growth opportunities in
01-20-2021 | Sports
Fact.MR
Aqua Gym Equipment Market Expected to Secure Notable Revenue Share During 2017-2 …
Due to rising urbanization and an increasingly fast paced lifestyle, the epidemic of obesity is taking its toll on people. Besides, there is a rising health awareness among people and due to which people want to stay healthy and fit. These are the main drivers fuelling the sales of the aqua gym equipment worldwide. Consumers of today are opting for preventive medicine, chiefly due to the sky rocketing medical costs

All 5 Releases


More Releases for Tech

Tech meets insurance
RISK ALLIANCE DIRECT to be first to provide digital law firm, Epoq Legal's new UK 'Business Risk Protection' (BRP) InsurTech bolt-on for SME insurance. Understanding the needs of the everchanging insurance landscape, the call for innovation is continual. There are few online products already on the market that could be beneficial to SME's. And now, in these unprecedented times, the call has been heard by one of the UK's large regional
ESET joins Cybersecurity Tech Accord
It was over thirty years ago that the founders of ESET created the first version of the now globally recognized antimalware product used on over 110 million devices in homes, workplaces and on mobile devices. Their commitment, and that of everyone at ESET, is as strong today as it was back then, which is the reason ESET has partnered with more than thirty other technology companies and joined the Cybersecurity
Global Chemical Milling Market 2018 - Tech-Etch, Orbel, Tech Met
Apex Market Reports, recently published a detailed market research study focused on the “Chemical Milling Market” across the global, regional and country level. The report provides 360° analysis of “Chemical Milling Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Chemical Milling on
TELERAD TECH Private Limited
TELERAD TECH Private Limited Telerad Tech has been founded by a group of technology innovators and eminent radiologists with the focus to develop products and solutions to address the gaps and needs of Healthcare IT in general, and radiology automation systems in particular. Having partnered with leading a tele-radiology institute and led by technologists with background in developing and deploying automated solutions, Telerad Tech has the best mix of domain understanding
Algoworks’ Partnership With Tech Giants
Algoworks was recently associated with Cloudera as Cloudera SI partners, among other partnerships that the firm has achieved. The founders of the company shared their glee on coming so far in the duration of ten years. As the co-founder of Algoworks, Ajeet Singh says, “Our acute finesse in CRM technologies like Salesforce has assisted us in becoming the Salesforce registered consulting partners. Our unmatched excellence in ECM technologies also earned us
Tech Support: Influencing IoT Adoption
ReportsWorldwide has announced the addition of a new report title Tech Support: Influencing IoT Adoption to its growing collection of premium market research reports. This report examines the actual and perceived complexities and security risks that may serve as barriers to adoption of smart home and other emerging connected devices. It highlights the impact of these concerns and examines support strategies designed to overcome them. The report forecasts the technical support needs generated