Quick Summary:
In our increasingly connected world, the global market for Digital Door Lock Systems is on an impressive growth trajectory. Rapid digitalization, alongside shifting security preferences, are reshaping traditional lock systems, making way for the advanced and versatile Digital Door Lock Systems. This comprehensive report offers an in-depth look at the growth landscape of this burgeoning market and provides the vital insights necessary for tapping into its future potential.
The Digital Door Lock System market currently sits at US$19.1 Billion, with projections reaching a revised size of US$54.4 Billion by 2030. Actionable coverage within the report provides a detailed examination of key segments such as Keypad Locks and Biometrics Locks, as well as offer a glimpse of other remarkable geographic markets like the United States, China, Japan, Canada, and Germany. Stay informed about your industry rivals with detailed insights on prominent competitors, thereby equipping your business with robust strategies for sustainable growth in the dynamic Digital Door Lock System market.
Global Digital Door Lock System Market to Reach $54.4 Billion by 2030
The global market for Digital Door Lock System estimated at US$19.1 Billion in the year 2022, is projected to reach a revised size of US$54.4 Billion by 2030, growing at a CAGR of 14% over the analysis period 2022-2030. Keypad Locks, one of the segments analyzed in the report, is projected to record 13.9% CAGR and reach US$24.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biometrics Locks segment is readjusted to a revised 15% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.6 Billion, While China is Forecast to Grow at 13% CAGR
The Digital Door Lock System market in the U.S. is estimated at US$5.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$9.2 Billion by the year 2030 trailing a CAGR of 13% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.8% and 11.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.Select Competitors (Total 42 Featured) -
- ADT Inc. (dba ADT Security Services, Inc.)
- Allegion PLC
- Assa Abloy AB
- August Home
- Cisco Systems, Inc.
- Godrej & Boyce Manufacturing Co., Ltd.
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Onity, Inc.
- Panasonic Corporation
- Vivint, Inc.
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and the publisher's Research Platform
- Complimentary updates for one year
What is the estimated value of the Global Market for Digital Door Lock System?
What is the growth rate of the Global Market for Digital Door Lock System?
What is the forecasted size of the Global Market for Digital Door Lock System?
Who are the key companies in the Global Market for Digital Door Lock System?
| Report Attribute | Details |
|---|---|
| No. of Pages | 194 |
| Published | November 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 19.1 Billion |
| Forecasted Market Value ( USD | $ 54.4 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Table of Contents
Companies Mentioned
A selection of companies mentioned in this report includes:
- ADT Inc. (dba ADT Security Services, Inc.)
- Allegion PLC
- Assa Abloy AB
- August Home
- Cisco Systems, Inc.
- Godrej & Boyce Manufacturing Co., Ltd.
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Onity, Inc.
- Panasonic Corporation
- Vivint, Inc.
