Digital Door Locks Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR40793
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The digital door locks market has the potential to grow by USD 6.67 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 22.05%.

This digital door locks market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (biometric digital locks and keypad locks) and geography (APAC, North America, Europe, MEA, and South America). The digital door locks market report also offers information on several market vendors, including Allegion Plc, ASSA ABLOY AB, ADT Inc., dormakaba International Holding AG, Godrej & Boyce Manufacturing Co. Ltd., Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., and Spectrum Brands Holdings Inc. among others.

What will the Digital Door Locks Market Size be in 2021?

Digital-Door-Locks-Market-Market-Size-2020-2025

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Digital Door Locks Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The diversified applications of digital door locks are notably driving the digital door locks market growth, although factors such as the high cost of digital door locks may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the digital door locks industry get your FREE report sample now.

  • The diversified applications of digital door locks will fuel the growth of the digital door locks market size.
  • Digital door locks are increasingly being deployed across corporate offices, government offices, educational institutions, warehouses, hotels, retail shops, and residential properties.
  • Corporate offices and government offices are more inclined toward the use of biometric digital locks wherein fingerprints, retina, and/or facial recognition of the individual are used for identification. 
  • Digital door locks are extensively used in educational institutions and research labs for the purpose of capturing attendance.
  • Digital door locks in the form of keypads and swipe cards are used in hotels, warehouses, retail shops, and shopping malls to restrict the unauthorized entry of personnel and the prevention of thefts.
  • The increasing demand for safety and security by the residential housing and commercial sectors is encouraging vendors to focus on the development of innovative digital door locks.
  • Vendors are increasingly offering easy to install and technologically advanced customized digital door locks.
  • Companies have introduced smart locks that can be accessed remotely using wireless networks such as Bluetooth, Wi-Fi, and Z-wave.
  • Consumers are adopting smart locks as they provide high security and are convenient.
  • Smart locks eliminate the need to carry keys and can also be unblocked or operated through smartphones.

This digital door locks market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Digital Door Locks Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Allegion Plc
  • ASSA ABLOY AB
  • ADT Inc.
  • dormakaba International Holding AG
  • Godrej & Boyce Manufacturing Co. Ltd.
  • Honeywell International Inc.
  • Napco Security Technologies Inc.
  • Salto Systems SL
  • Samsung Electronics Co. Ltd.
  • Spectrum Brands Holdings Inc.

 

The digital door locks market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the digital door locks market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Digital Door Locks Market?

Digital-Door-Locks-Market-Market-Share-by-Region-2020-2025

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55% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for digital door locks in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The rise in the number of commercial offices, the growing emphasis on technologically advanced residential living solutions, and the increase in disposable income will facilitate the digital door locks market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Digital Door Locks Market?

Digital-Door-Locks-Market-Market-Share-by-Product-2020-2025

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The digital door locks market share growth by the biometric digital locks segment will be significant during the forecast period. Increased demand for biometric systems locks from various sectors, such as corporate office, government office, hotel, retail shop, shopping mall, educational institution, warehouse, and residential housing, is one of the major factors expected to drive the growth of this segment. Increased product launches, a result of the emergence of new software and smart lock technologies for precise facial recognition and fingerprint recognition, is another major factor expected to drive the growth of the market during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the digital door locks market size.

 

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What are the Key Factors Covered in this Digital Door Locks Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive digital door locks market growth during the next five years
  • Precise estimation of the digital door locks market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the digital door locks industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of digital door locks market vendors

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Digital Door Locks Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 22.05%

Market growth 2021-2025

$ 6.67 billion

Market structure

Fragmented

YoY growth (%)

21.73

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 55%

Key consumer countries

China, US, Japan, UK, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Allegion Plc, ASSA ABLOY AB, ADT Inc., dormakaba International Holding AG, Godrej & Boyce Manufacturing Co. Ltd., Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., and Spectrum Brands Holdings Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Biometric digital locks - Market size and forecast 2020-2025
    • Keypad locks - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption
      • Competitive scenario

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Allegion Plc
      • ASSA ABLOY AB
      • ADT Inc.
      • dormakaba International Holding AG
      • Godrej & Boyce Manufacturing Co. Ltd.
      • Honeywell International Inc.
      • Napco Security Technologies Inc.
      • Salto Systems SL
      • Samsung Electronics Co. Ltd.
      • Spectrum Brands Holdings Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The digital door locks market growth will increase by $6675.48 million during 2020-2025.
      The digital door locks market is expected to grow at a CAGR of 22.05% during 2020-2025.
      Technavio has segmented the digital door locks market by product (Biometric digital and Keypad locks) and geographic (APAC, North America, Europe, MEA, and South America).
      Allegion Plc, ASSA ABLOY AB, ADT Inc., dormakaba International Holding AG, Godrej & Boyce Manufacturing Co. Ltd., Honeywell International Inc., Napco Security Technologies Inc., Salto Systems SL, Samsung Electronics Co. Ltd., Spectrum Brands Holdings Inc. are a few of the key vendors in the digital door locks market.
      APAC will register the highest growth rate of 55.31% among the other regions. Therefore, the digital door locks market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Japan
      • UK
      • South Korea (Republic of Korea)
      The key factors driving the digital door locks market growth are:
      • Need for enhanced safety and privacy
      The digital door locks market vendors should focus on grabbing business opportunities from the biometric digital segment as it accounted for the largest market share in the base year.
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