Digital Door Lock Systems Market
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Transparency <strong>Market</strong><br />
Research<br />
`<br />
<strong>Digital</strong> <strong>Door</strong> <strong>Lock</strong> <strong>Systems</strong> <strong>Market</strong> 2023<br />
Published Date<br />
2016-03-14<br />
117 Page Report<br />
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Report Title<br />
<strong>Digital</strong> <strong>Door</strong> <strong>Lock</strong> <strong>Systems</strong> <strong>Market</strong> - Global Industry Analysis,<br />
Size, Share, Growth, Trends and Forecast 2015 - 2023<br />
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REPORT DESCRIPTION<br />
According to a new market report published by Transparency <strong>Market</strong> Research “<strong>Digital</strong> <strong>Door</strong><br />
<strong>Lock</strong> <strong>Systems</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015<br />
- 2023,” the global digital door lock systems market in terms of revenue was valued at US$ 731.9<br />
Mn in 2014 and is forecast to grow at a CAGR of 31.8% during the period 2015 to 2023. Growth<br />
of micro, small and medium enterprises (MSMEs) across the world and high industrial activity<br />
driving inclusive of commercial segment are the key factors driving the growth of the digital door<br />
lock systems market. In addition, enhanced security needs of customers are driving the adoption<br />
of security solutions in residential sector and managed security solutions at affordable option is<br />
further expected to drive the growth of this market over the forecast period.<br />
In the Keypad locks digital door lock systems market, electromechanical door locks segment was<br />
the largest in 2014, accounting for 45.2% of the overall market. The increased demand for<br />
electromechanical products signifies with customers looking for total security solutions and<br />
flexible door environments with convenient digital and mobile technology. Manufacturers’<br />
products aim at open standards to facilitate integration with the customer's other security and<br />
administrative systems.<br />
In terms of end-user, Commercial is the largest segment contributing to the Global <strong>Digital</strong> <strong>Door</strong><br />
<strong>Lock</strong> <strong>Systems</strong> market. Residential segment is the second largest segment by end-use adoption.<br />
Home-based and small to mid-sized businesses are expected to be the target markets expected<br />
to drive the digital door lock systems market. Manufacturers that are positioned to benefit<br />
include Godrej & Boyce, Assa-Abloy and Weiser <strong>Lock</strong>, Siemens AG. These companies manufacture<br />
digital door locks systems for both home and business that capture different types of biometrics<br />
such as fingerprints, palm, and voice and use them to identify residents and personnel to allow<br />
entry. The largest, most demanding and dynamic customer segment is institutional and<br />
commercial customers. These include corporate workplaces, universities, hospitals, government<br />
agencies, airports and shopping malls, buildings with high security requirements where a large<br />
number of people and goods enter and exit daily.<br />
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Smart home applications are in demand and are supported by the increased usage of smart<br />
phones and tablets in the market. Residential security has become the major part of various<br />
smart home applications which people are adopting these days. Security has become the main<br />
feature of smart applications used for homes. People are opting for latest technologies and<br />
solutions available in the market for high level of security and automation in their home<br />
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premises. Smart home applications are now including more advance features which includes<br />
advance security aspects like security alarms, sensors, electronic locks, cameras etc. along with<br />
other smart features like extensive control over home living environment such as self-powered<br />
lighting, climate controls, fire alarms and power managements. People are adopting advanced<br />
security features embedded in their smart home application and considering as a value added<br />
service for better quality of living.<br />
Some of the major Industry Players profiled in the study include Honeywell International Inc.,<br />
Godrej & Boyce Manufacturing Company Ltd., Assa Abloy Group, Cisco <strong>Systems</strong>, Inc., United<br />
Technologies Corporation, Siemens AG, Panasonic Corporation, Nestwell Technologies, Vivint, Inc.,<br />
Hanman International Pte Ltd., Hitachi, Ltd. and Tyco International Ltd.<br />
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Browse The <strong>Market</strong> Research Report of <strong>Digital</strong> <strong>Door</strong> <strong>Lock</strong> <strong>Systems</strong> <strong>Market</strong> :<br />
http://www.transparencymarketresearch.com/digital-door-lock-systems-market.html<br />
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http://www.transparencymarketresearch.com/sample/sample.php?<br />
flag=S&rep_id=9770<br />
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