According to a new market research report published by Credence Research “Digital Door Lock Systems Market (by Technology: Biometrics Lock (Face Recognition, Palm Recognition, Voice Recognition, and Fingerprint Recognition) and Keypad Lock (Magnetic Strip, Electromechanical Door Lock, and Electric Strike Lock); by End-users: Government, Residential, Commercial, and Industrial) - Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the digital door lock systems market was valued US$ 2.13 Bn in 2017 and estimated to grow with a CAGR of 27.2% during the forecast period from 2018 to 2026.
Credence Research, the leading business intelligence provider, has published its latest research, "Digital Door Lock Systems Market 2026", which gives insights into Digital Door Lock Systems in the Global market. The report determines the market size for 2018, along with forecasts until 2026. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.[Continue reading..]
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Property break-in is one of the most commonly committed crime across the globe with almost 66% of the total burglaries occur. The issue is seriously aggravating across the globe and people are bound to adopt advanced security systems to protect their possessions from potential threats. Digital door locks systems one of the most trusted avenues incorporated in their security measures and is highly encouraged for residential commercial and government properties. Digital door locks ensure optimum security by avoiding any unauthorized access and hence are experiencing a significant growth in demand in past few years.
These locks provides connectivity with smartphones or tablets through Bluetooth, ZigBee or Wi-Fi and can alert authorized person and security authorities before any trespassing. Growing trend of smart connected homes certainly created a favorable scenario for digital door locks market to flourish. With respect to region, Europe is the biggest advisory of digital door lock systems by marking highest market share in overall market.
The growth is majorly attributed by the flourishing hospitality & hotel industry as Europe is home to one of the most visited tourist destinations. However, growing adoption of digital door locks in small and medium scale industries for avoiding unlicensed encroaching are driving Asia Pacific market with a faster pace. Technical complexity and glitches may offer hindrances to the market growth. Nevertheless, continuously developing technology expected to overcome the inhibitor in coming years.
The research study include business strategies and recent development of few of the most prominent players in digital door lock systems market includes Cisco Systems, Inc., Godrej & Boyce Manufacturing Company Ltd., Onity Inc., ADT Inc., Assa Abloy Group, Siemens AG, United Technologies Corporation, Vivint, Inc., Tyco International Ltd., Allegion PLC, Wintec Electronic Tech Co. Ltd. Honeywell International Inc., Panasonic Corporation, Johnson Controls, and August Home among others.
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- The report presents the brief overview of Digital Door Lock Systems Market including business description, key information and facts, and its locations and subsidiaries
- The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
- Special feature on out-licensed and partnered product portfolio
- The report summarizes all the dormant and discontinued projects
- Latest company statement
- Latest news and deals relating to the Digital Door Lock Systems products
The following research methods were used in this report:
- Desk study
- A questionnaire survey among specialty retail chains
- Analyzing statistical data released by the Federal Customs Service
- Desk study sources include materials taken from print and online media conference materials.
Reasons to Buy
- The report provides information about technology solutions needed for the implementation of Digital Door Lock Systems projects, and allows readers to make effective business decisions
- The report helps readers to strengthen strategic framework by understanding the business benefits to be achieved through Digital Door Lock Systems solutions
- The report highlights projected investment on Digital Door Lock Systems over the next two years. This will help organizations to allocate budget towards Digital Door Lock Systems implementation and business expansion
- The report helps executives plan their adoption of Digital Door Lock Systems by providing expected timeframes for implementation
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