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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 83
Countries covered: 18
Pages: 230
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Digital Door Lock Systems Market
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Digital Door Lock Systems Market Size
The global digital door lock systems market size was valued at USD 7.6 billion in 2023 and is estimated to grow at a CAGR of over 7.4% from 2024 & 2032. The expansion of the market for digital door lock systems can be greatly attributed to the rise in need for smart home security systems. With urban crime growing rapidly, there is great emphasis on safety by the homeowners. Digital door locks that allow activities such as remote control, activity monitoring and biometric access are becoming increasingly popular as they provide replacement for conventional locks due to their loyalty towards personal security.
Moreover, the trend towards smart home automation also fosters the use of digital door locks. The merger of doors and windows with digital locks, cameras, alarms and lighting systems provide a full range of security. What is more, the modern-day consumers appreciate seamless access via mobile applications, instant notifications, and the ability to set schedules for locking and unlocking devices.
These systems are easy to use and work with leading smart home systems, appealing more users. A growing understanding of the possibilities to use smart security technologies, generated by high-tech companies and home security brands, also propels the demand. Marketing campaigns of the manufacturers, demos of the products, especially during international exhibitions, and recommendations of qualified experts help increase the consumers' confidence in the digital locks.
Digital Door Lock Systems Market Trends
The trends in the market are influenced by new technologies, as well as the changing preferences of consumers. One notable trend is the increased use of biometric verification techniques, such as fingerprints and facial scans. As these options advance, more companies are beginning a move towards applying these technologies to sophistication in security locks. This satisfies the desire to have an innovative and easy-to-use form of access control without the need of entering a PIN code or carrying a key.
Biometric locks are in fact very much in demand in homes and offices for the provision of high security and usability of systems. A further trend today is the increasing usage of keyless entry systems in leased and shared premises. An upsurge in the numbers of short let rental agencies and flexible work space facilities has propelled digital door locks for remote and short-term access, especially amongst property managers and landlords. The need to exchange physical keys to give people access has been done away with, as owners are able to permanently lock their properties and temporarily expose them to outsiders by creating and sending them time-specific codes via apps.
Digital Door Lock Systems Market Analysis
The cost of implementing superior technology will always be demanding for the markets for digital door lock systems, especially in doors that incorporate features such as biometric tools, Wi-Fi integration, and integration with smart homes, systems integration always comes with a price. For the majority of the systems, they are only able to be used after a professional installation hence raising the costs making it impossible for small enterprises and those with a tight budget.
Some doors are equipped with locks that require additional networking or compatible hardware making the installation process even more expensive. Compliance with regional security and privacy regulations e.g GDPR in the European Union further complicates matters for the companies. In an attempt to avoid breach of data, the companies have to integrate additional expensive tools ensuring sensitivity such as biometrics and user log access.
Based on type, the digital door lock systems market is segmented into deadbolt, lever handle, padlock, and others. The deadbolt segment dominated the market in 2023, generating a revenue of around 3.5 USD billion of the total market in 2023, and is expected to grow at a CAGR of 7.9% in the forecast timeframe. The deadbolt category dominates the market thanks to its prudent assurance and security, mostly in the household settings.
For example, the loss of keys is a problem that homeowners believe digital deadbolts can solve, since they are inexpensive and easy to mount, providing greater protection without complicated installation procedures. The demand for these devices increases with the ability of remote access, keyless entry, or integration into smart home systems controlled by mobile apps. Furthermore, digital deadbolts can range from keypad access to biometrics, enticing both budget and high-end security consumers, hence extending their marketed scope.
Based on distribution channel, the digital door lock systems market is classified into online and offline. The offline segment dominated the market in 2023, with a share of around 61.2% of the total market share and is expected to grow at a CAGR of 7.7% in the forecast timeframe. The offline sector of the market consists of sales made through authorized dealerships, specialty stores, direct retailers and hardware stores.
Many buyers also prefer understanding security products in real-life before making a purchase. Products can be shown to in-store staff and questions can be asked on the type of lock system to be bought which can help them in making the right purchasing decisions, which is very useful for the not so tech savvy customers. Apart from that, offline channels also target professional installers and commercial consumers that tend to buy from reliable distributors. Where internet availability is very limited or customers feel more comfortable making purchase offline, offline sales are absolutely necessary.
A CAGR of 7.8% is expected for the next five years for the U.S. digital door lock systems market which is currently being valued at 2.5 billion dollars. The boom in demand for access control technologies here has drastically increased due to the recent increase in demand for smart home technology. Not only have homes started to require such technology, but urbanization and enhanced security measures have led to an increase in the presence and need for it in buildings.
Flexible and temporary remote work-based employment has allowed users to enter buildings without having to use a physical key and instead set a time window when they can enter. Since the market is backed with robust infrastructure and potential, people are increasingly gaining awareness about smart home technologies and investing in them which in turn supports the further growth of the US digital door lock market.
North America: The American digital door lock systems market is expected to benefit from robust growth, owing to the heightened focus on smart home technology, considerable investment in security, and improving IoT connectivity. Digital locks supported by platforms such as Amazon Alexa and Google Home are widely accepted by a tech-aware customer. Furthermore, commercial and hospitality industries are increasingly using the digital locks to strengthen control with shared, short-term rental, and co-working spaces.
Nevertheless, costs of the systems, cyber security issues, and data privacy legislation could influence the market. Despite the aforementioned limitations, and considering the evolving culture and the increasing orientation towards “Here and Now” among American customers, this stimulus will also be present on the development of the substantiated segments in the residential and commercial areas.
Europe: Germany has seen an increased awareness for smart security solutions, and a focus on privacy and data protection; this alone has led to a digital door lock systems market growth in the country. The German urban, commercial and real estate markets are well positioned for adopting the use of digital door locks. Privacy concerns together with the General Data Protection Regulation (GDPR) laws have also driven manufacturers to design user supported systems in Germany. These are just enough ingredients for penetrable growth in a market which is highly cautious of new technology. Compliance with regulations, dependability and security appear to raise the demand for a steady growth in the market.
Asia Pacific: Democratization of wealth combined with swift urbanization in china has resulted in an increased demand for security in homes: all these market characteristics enable growth of the digital lock systems market. The increasing disposable income correlates well with the increased demand for digital lock systems in the construction industry, particularly for smart residential complexes.
There is a growing demand for IoT enabled digital door locks which have been aided by the government push to promote smart city infrastructure. Public awareness regarding personal safety coupled with mobile technology use heightens the market further. Intense competition and strong brand protection to user data are some of the challenges that prevail in the market.
Digital Door Lock Systems Market Share
The total share of the market is divided amongst several companies and the market is in focus by these companies, having a good amount of the total company’s market share resting between 10%-15%. There is competition among companies in the market as they continue to seek out ways to reinvent, enhance the quality and attune their offerings to the customer.
Many of the manufacturers are looking into the potential embedding of biometrics technology, artificial intelligence, and IoT enabling connectivity into their newly developed products. This trend enhances security measures, while providing a great user experience, with remote management and smartphone functionalities.
Digital Door Lock Systems Market Companies
Major players operating in the digital door lock systems industry include:
Digital Door Lock Systems Industry News
The digital door lock systems market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Thousand Units) from 2021 to 2032, for the following segments:
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Market, By Type
Market, By Access
Market, By Connectivity Technology
Market, By End Use
Market, By Distribution channel
The above information is provided for the following regions and countries: