Door Lock Systems Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2018 to 2026
November 20, 2019 by Johnson Paul
According to a new market research report published by Credence Research, 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.
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.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/digital-door-lock-systems-market
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.
Cladded with high profile digital door locks vendor, the market is considered as one of the most tough and competitive market to survive. High profile players made the turf extremely difficult for new entrants as consumers’ often prefer to trust existing players with respect tot security of their prised possions. These companies are on their toes to make their product more reliable and ensure optimum security to gain the hard earned trust of their consumers. Few of the major notable players profiled in this research study include 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.
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59357
Key Analysis Covered:
Report Scope by Segments
By Technology (2016–2026; US$ Bn)
By End-user (2016–2026; US$ Bn)
By Geography Segment
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