The main objective of this report is to define, describe, and forecast the global “Digital Door Lock System” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global digital door lock system market is projected to grow at a CAGR of 13% over the forecast period of 2018-2024.
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Increasing conception of home automation promotes growth in Digital Door Lock System Market.
Increasing conception of home automation acts as the major driver for the digital door lock system market. The rising concerns regarding personal safety in residential as well as commercial buildings are one of the major factors drives the growth of the digital door lock system market. Furthermore, advancement in technology such as face recognition, fingerprint recognition, and capacitive touch screens are enhancing the consumer experience and proliferating adoption of digital door lock system that is boosting the growth of Digital Door Lock System Market. The digital door lock provides remote access facility in datacenter and utility facilities. Furthermore, rising demand for efficient and cost-effective digital door security systems and solutions at workplaces fuels the growth of the global digital door lock systems market. In addition, Smartphone penetration is sustaining the expansion of the market for digital door locks. However, less adaptability to change from conventional mechanical locks to digital locks hampers the growth of the digital door lock system Market. Furthermore, the high cost of digital door locks curtails the market growth. Moreover, Governments initiatives to develop smart cities are providing a beneficial opportunity for digital door lock system market.
Carson and Assa Abloy’s Mul-T-Lock Announced Partnership and Integration
In October 2018 creators of the complete technology service staffed residential buildings and Mul-T-Lock, an ASSA ABLOY Group Brand, developer of the SMART air electronic door lock solution, announced a partnership and integration. Staff and residents of multifamily properties using the Carson application opened SMART air doors seamlessly with the Carson mobile and desktop application. Electronic door locks are the future. Mul-T-Lock’s SMART air is a comprehensive electronic door lock solution that is proven, affordable, and is seamlessly integrated with Carson,” said Guy Blachman, Carson Founder. “ Landlords and managers increasingly expect one app for residents and staff that provides all the functions for a living and managing an unstaffed property – including communication, payments, service requests, electronic keys, and a 24/7 remote service center for managing deliveries and visitors. Through the Mul-T-Lock partnership, Carson is the only solution in the market that provided a one-app experience for the end user.”
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The North America region to contribute to the growth of Digital Door Lock System Market
The North America region holds the largest market share across the globe owing to increased security and safety concerns. The high consumer awareness and technological enhancements also promote the growth of the digital door lock system market in the region. In North America, digital door lock systems offer beneficial growth opportunities owing to rising demand for efficient and cost-effective digital door security systems during the forecast period. Additionally, the Asia Pacific region is expected to grow at the highest CAGR in the Digital Door Lock System Market owing to increasing urbanization and surge in penetration of internet-based services. Growing trend of smart homes market in the Indian and Chinese market drives the Digital Door Lock System Market in the Asia Pacific regions.
The major key players in Digital Door Lock System Market are ASSA ABLOY Group, Ozone Overseas Pvt. Ltd., Safewise, Kwikset, Samsung SDS, Godrej, Honeywell International, Inc, Siemens AG, Hitachi Ltd., and dormakaba Group.
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