Digital Door Lock System Market to Top US$ 47 Bn as Government Focuses on Ramping up the Security
Wednesday, January 12, 2022
Fact.MR's recently published report on the digital door lock system market offers a comprehensive analysis of the leading segments in terms of product type, end-user, and region. In addition, it provides in-depth information about the market dynamics, including drivers, restraints, latest trends, and growth opportunities.
NEW YORK, Jan. 4, 2022 /PRNewswire/ -- The global digital door lock system market size is projected to reach US$ 47 Bn, exhibiting growth at 18% CAGR between 2022 and 2032, predicts Fact.MR. Emergence of novel technologies, such as big data and artificial intelligence in the smart lock industry is anticipated to drive the market in the upcoming years.
https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg
Integration of innovative technologies with digital door lock systems is likely to accelerate the demand for smart homes. Germany, for instance, is considered to be one of the most prominent smart home building countries in Europe. Sales of digital door lock systems in Germany are anticipated to reach US$ 1 Bn in 2022.
Further, rising adoption of smartphones is set to propel the digital door lock system market across the globe. Increasing usage of the mobile internet and development of the cloud infrastructure are also expected to make it possible for people to operate and monitor these door lock systems from any part of the globe.
As per the Electronic Frontiers Australia (EFA), around 88% of the population owns a smartphone in Australia. Hence, the country is considered to be one of the earliest adopters of such technology.
For Critical Insights On This Market, Request For More Info https://www.factmr.com/connectus/sample?flag=S&rep_id=409
"Increasing usage of weather resistant digital door lock systems for protecting outdoor spaces is anticipated to fuel the growth. In addition, constant enhancement of external door locks of the government buildings for security purposes is expected to drive the demand," says a Fact.MR analyst.
Key Takeaways:
-- The U.S. is likely to account for 21% of the market share on the back of
the surging usage of mobile devices to handle regular manual operations.
-- Germany is estimated to generate around US$ 3 Bn in 2032 owing to the
rising initiatives of the government to develop smart or automated homes
in this country.
-- North America is expected to top US$ 11 Bn on the back of rising usage
of wireless communication technologies in the U.S.
-- Europe is set to generate US$ 3 Bn in terms of share backed by the early
adoption of novel technology in Germany
-- East Asia is anticipated to hold about 27% of the market share, with
China leading the growth in the region.
-- In terms of product type, the fingerprint recognition digital door lock
system segment is expected to dominate by accounting for 18% of share in
the forthcoming years.
-- Based on end-user, the residential segment is projected to dominate the
market in terms of share owing to the trend of allowing one-time key
access to workmen.
Growth Drivers:
-- Growing inclination towards keyless access for common amenities, such as
recreational spaces and restrooms is set to drive the market.
-- Rising proliferation of power over Ethernet technology in numerous
Western European countries is anticipated to propel the demand for
digital door lock systems.
-- High demand for wireless home accessories which can be connected through
smartphones and monitored from anywhere in the world is expected to fuel
the market.
Restraints:
-- As digital door lock systems are operated with the internet, hackers may
try to get easy access to these devices, limiting sales.
To learn more about Digital Door Lock System Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=409
Competitive Landscape
Key players operating in the digital door lock system market are focusing on introducing unique products to broaden their portfolios and strengthen their positions. Meanwhile, some of the other players are aiming to expand their distribution networks and provide additional features to customers for gaining a competitive edge in the market.
For instance,
-- December 2021: Apple, a multinational technology company based in the
U.S., announced that Apple Watch and iPhone owners would be able to
store digital hotel keys on their devices. The company started this
service with Hyatt Hotels and users can use the Apple Wallet app to gain
entry to their locked hotel rooms. This facility is available in six
Hyatt hotels in the U.S.
-- November 2021: Godrej & Boyce, a flagship company of the Godrej Group,
joined hands with Liberty General Insurance Ltd. to provide burglary
insurance of up to Rs 1,280 crore to its customers. It would be
applicable for customers using the company's Pentabolt, Advantis, Altrix
& Astro, Pentabolt EXS+, and the newly launched Spacetek Pro.
-- April 2020: Godrej Locks, a manufacturer of advanced mechanical locks
headquartered in India, launched its new age 100% 'Made in India'
digital lock called Spacetek. It is equipped with state-of-the-art
features, such as volume control, 360-degree fingerprint recognition,
break-in alarm, spy code, external power bank charging, and low battery
indicator.
Key Players in the Digital Door Lock System Market Include:
-- Godrej & Boyce Manufacturing Company Ltd
-- Honeywell International Inc.
-- Siemens AG
-- Nestwell Technologies
-- Assa Abloy Group
More Valuable Insights on Digital Door Lock System Market
Fact.MR provides an unbiased analysis of the digital door lock system market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global digital door lock system market with a detailed segmentation on the basis of:
Product Type
-- Face Recognition Digital Door Lock System
-- Iris Recognition Digital Door Lock System
-- Vein and Palm Recognition Digital Door Lock System
-- Voice Recognition Digital Door Lock System
-- Signature Recognition Digital Door Lock System
-- Fingerprint Recognition Digital Door Lock System
-- Magnetic Stripe Locks Digital Door Lock System
-- Electromagnetic Door Locks Digital Door Lock System
-- Electric Strike Locks Digital Door Lock System
-- Other Digital Door Lock System
End-user
-- Government
-- Commercial
-- Industrial
-- Residential
Region
-- North America
-- Europe
-- East Asia
-- MEA
-- Latin America
-- South Asia & Oceania
Key Questions Covered in Digital Door Lock System Market Report
-- The report offers insight into the digital door lock system market
demand outlook for 2022-2032.
-- The market study also highlights projected sales growth for digital door
lock system market between 2022 and 2032.
-- Digital door lock system market survey identifies key growth drivers,
restraints, and other forces impacting prevailing trends and evaluation
of current market size and forecast and technological advancements
within the industry.
-- Digital door lock system market share analysis of the key companies
within the industry and coverage of strategies such as mergers &
acquisitions, joint ventures, collaborations or partnerships, and
others.
Explore Fact.MR's Coverage on the Technology Domain -
Smart Lock Market Insights - Smart devices' increased interaction with public, private, and residential infrastructure has resulted in a surge in demand for smart locks. The introduction of smart lock systems is enabled by improved security, safety, and monitoring of properties for theft prevention.
IRIS Biometrics Market Forecast - The extensive use of IRIS biometrics for physical access security is propelling the IRIS biometrics industry forward. In addition, since the number of customers migrating to mobile banking grows at an exponential rate, numerous firms are implementing IRIS biometrics as security measures.
Wireless Security System Market Scope - In the future years, the wireless security system market is likely to be driven by the increased adoption of wireless security systems for residential security. Because they enable home automation and stay operational even when the lights go out, wireless security systems are gradually replacing various traditional kinds.
Biometric Authentication Solution Market Analysis - Biometric authentication solutions are being more widely used as the demand for improved security and identification systems grow. The growing reliance on digital technologies and automation is likely to fuel the expansion.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.
MarketNgage is powered by Fact.MR - our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.
You can access all our technology research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR - A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.
Contact:
Sudip Saha
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
View original content:https://www.prnewswire.com/news-releases/digital-door-lock-system-market-to-top-us-47-bn-as-government-focuses-on-ramping-up-the-security-301453438.html
SOURCE Fact.MR
|
|
|
|
|
 |
Skunk Works® and XTEND Expand Joint All Domain Command and Control for Advanced Mission Execution | Jan 22, 2026
|
|
Sup AI Sets New Benchmark Record with 52.15% on Humanity's Last Exam | Jan 22, 2026
|
|
Weekly Recap: 11 Tech Press Releases You Need to See | Jan 22, 2026
|
|
Trigent Partners with WeWork India to Expand its GCC Footprint | Jan 22, 2026
|
|
DEADLINE ANNOUNCED FOR 2026 NEW TOP-LEVEL DOMAIN APPLICATIONS | Jan 22, 2026
|
|
Exia Labs Brings Keystone to the U.S. Navy via DIU's Blue Object Management Challenge | Jan 22, 2026
|
|
Genpact Named a Leader in ISG Provider Lens(TM) 2025 for Insurance GCCs and Agentic AI Services | Jan 22, 2026
|
|
Marketing Evolution Announces New Investment Led by Insight Partners to Power AI-Ready Marketing Data for the Agentic Era | Jan 22, 2026
|
|
Glasswall Brings Defense-Level File Sanitization to Every Government Agency and Business Using Microsoft 365 | Jan 22, 2026
|
|
Altair HyperWorks 2026 Delivers Design and Simulation at Scale with AI | Jan 22, 2026
|
|
|
