Digital door lock market
The global digital door lock systems market iwas valued at US$ 731.9 Mn in 2014 and is forecast to grow at a CAGR of 31.8% during the period 2015 to 2023. Growth of micro, small and medium enterprises (MSMEs) across the world and high industrial activity are the key factors driving the growth of the digital door lock systems market. In addition, the enhanced security needs of customers are driving the adoption of security solutions in the residential sector. Managed security solutions at affordable prices are expected to drive growth of this market over the forecast period.
In terms of end-users, commercial is the largest segment contributing to the market. Residential is the second largest segment. Home-based and small to mid-sized businesses are expected to be the target markets driving the.
Manufacturers that are positioned to benefit include Godrej & Boyce, Assa-Abloy and Weiser Lock, Siemens AG. These companies manufacture digital door locks systems for both home and businesses that capture different types of biometrics such as fingerprints, palm, and voice and use them to identify residents and personnel to allow entry.
The largest, most demanding and dynamic customer segment is institutional and commercial customers. These include corporate workplaces, universities, hospitals, government agencies, airports and shopping malls, buildings with high security requirements where a large number of people and goods enter and exit daily.
Smart home applications are in demand and are supported by the increased use of smart phones and tablets. Residential security has become the major part of smart home applications. People are opting for the latest technologies and solutions available in the market for a high level of security and automation in their home premises. Smart home applications now include more advance features such as security alarms, sensors, electronic locks, cameras etc. along with other smart features such as control over the home living environment including; lighting, climate controls, fire alarms and power management.
Some of the major industry players profiled in the study include Honeywell International Inc., Godrej & Boyce Manufacturing Company Ltd., Assa Abloy Group, Cisco Systems, Inc., United Technologies Corporation, Siemens AG, Panasonic Corporation, Nestwell Technologies, Vivint, Inc., Hanman International Pte Ltd., Hitachi, Ltd. and Tyco International Ltd.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Extended reality in a post-pandemic world.
Can XR technology be leveraged in design & construction?
Or are you capping.
STEM ambassadors needed for ICE CityZen award.
Digital gaming competition for UK students aged 16 to 18.
Heritage protection in England vs Australia.
Fire doors and the Fire Door Inspection Scheme.
Three-quarters of fire doors fail inspections
UN International Day for Biological Diversity, May 22.
The role of geoparks, biospheres and world heritage sites.
BSRIA conference 2022, June 23.
Just one month to go ! Find out more here.
Restoring Broadbent’s Bath House
A new gallery for the University of Huddersfield.
Corruption in the construction industry.
What will it take to stop it ?
To celebrate world bee day 2022 !
Just one month until the changes to part L come into effect.
Not forgetting part F and the new part overheating part O.
Heat Pump demand rises by one quarter.
As energy prices jump up in cost.
With people in the UK from Ukraine.
Industry leader Steve Murray takes on role.
An abundant and versatile building material.
How overheating complicates ending gas in the UK.
600,000 heat pump installations targeted per year by 2028.
Cost planning, control and related articles on DB.
Helping prevent those unwanted outcomes.
ICE debate Public transport - post pandemic.
How has transport changed due to Covid-19 ?
Cross-ventilation in buildings. Do you have it ?
Will you need it ? after June 15 and the new Part O ?
Share your knowledge with the industry.
Create an account and write the first of many articles.
The green jobs delivery group.
CIAT commentary after the first meeting.
Liverpool's world heritage site status
Who is to blame?
Research recommends focussing on portfolio success rather than project success.