Digital Door Locks Market is Projected to Register an Outstanding CAGR of 18.7% over the forecast period.

Research Methodology:

Primary research: Interviews of various industry experts and supplement this with the best secondary sources for each study. The break-up of primary research is as follows:

By Company Type-  Tier 1: 40%, Tier 2: 32% & Tier 3: 28%

By Designation: C-Level Executives: 38%, Directors: 24% & Managers: 28%.

By Region- North America: 27%, Europe: 22%, Asia Pacific:30%, Rest of World:21%

Secondary research: Secondary sources and exclusive data and analytics with in-depth reporting.

Data Triangulation: After gaining insights from primary and secondary research, the research team analyzes data about the latest trends and key issues in reference to each country and industry and present it in report.

Market Segmentation:

By Product Type:

Biometrics

Face Recognition

Iris Recognition

Palm Recognition

Voice Recognition

Signature Recognition

Fingerprint Recognition

Keypad Locks

Magnetic Stripe Locks

Electromechanical Door Locks

Electric Strike Locks

By End Use:

Government

Commercial

Industrial

Residential

Regional Segmentation:

North America (U.S. & Canada), Europe (Germany, UK, France, Italy, Spain, Russia, Poland, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Singapore, Australia, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) and Middle East & Africa (GCC, South Africa, North Africa and Rest of Middle East & Africa)

Market Size & Forecast:

The market of digital door locks is thriving at a CAGR (Compound Annual Growth Rate) of 18.7% over the forecast period. The market is estimated to reach at an exponential value of USD 13,977.7 Million at the end of 2025.

Regionally, Europe region dominated the market of digital door locks in 2017. Additionally, Europe region is anticipated to account for 27.8% share of the global digital door locks market by the end of 2025.

Market Drivers, Trends, Opportunities and Restraints:

Drivers:

Swift expansion of micro, small and medium enterprises (MSMEs) especially in developing economies is expected to bolster the growth of digital door locks market.

Research Scope

- Overview of Main Industry Events and Analysis of Their Market Impact

- Executive Summary

- Market Drivers, Trends, Challenges and Opportunities

- Market Size and Forecast Projections

- Estimating Market Access in Each Region and Implications of the Emerging Technologies in the Market

- Macroeconomic Indicators of Various Countries Impacting the Growth of the Market

- Extensive Coverage of Industry Players including Recent Product Launches and Market Activities

- BCG Growth Share Matrix

- Porter’s Five Force Analysis

Reasons to Buy

The report will facilitate you to:

- Cultivate and design your in-licensing and out-licensing strategies through a review of marketed products and technologies.

- Develop business tactics by understanding the trends molding and thriving the market.

- Drive revenues by considering the vital trends, pioneering products and technologies, market segments and companies likely to impact the market in the future.

- Formulate effective sales and marketing strategies by examining the competitive landscape and by evaluating the performance of various competitors.

- Recognize emergent players with potentially strong product portfolios and develop effective counter-tactics to gain a competitive advantage.

- Unify your sales and marketing labors by recognizing the market segments that present utmost opportunities for consolidations, investments and strategic partnerships.

Market Players:

Cisco Systems, Inc., Onity Inc., ADT Inc., Assa Abloy Group, Vivint, Inc., Allegion PLC, Godrej & Boyce Manufacturing Co. Ltd., Honeywell International Inc., Panasonic Corporation, Johnson Controls, and August Home are some of the major players dominating the digital door locks market globally.