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Digital Door Lock Systems Market Share

Report ID: GMI12269
Published Date: Nov 2024
Report Format: PDF

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Digital Door Lock Systems Market Share

The digital door lock systems industry is fragmented, with prominent players holding a market share of 10%-15% of the total market share. Companies operating in the market are increasingly focusing on innovation, quality, and customer-centric solutions to differentiate themselves in a competitive landscape. Many manufacturers are investing in research and development to incorporate advanced technologies, such as biometric authentication, artificial intelligence, and IoT connectivity, into their products. This trend not only enhances security but also improves user experience through features like remote access and smartphone integration.

Digital Door Lock Systems Market Companies

Major players operating in the digital door lock systems industry include:

Allegion plc
ASSA ABLOY AB
August Home, Inc.
Bosch Security Systems GmbH
Control4 Corporation
Honeywell International Inc.
IDEMIA Group
Johnson Controls International plc
Kwikset Corporation
Latch, Inc.
Nortek Security & Control LLC
Samsung Electronics Co., Ltd.
Spectrum Brands Holdings, Inc.
Vivint Smart Home, Inc.
Yale Security Inc.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global digital door lock systems industry was valued at USD 7.6 billion in 2023 and is estimated to grow at a CAGR of over 7.4% from 2024 to 2032, driven by the increased demand for smart home security solutions.

The deadbolt segment generated around USD 3.5 billion in revenue in 2023 and is expected to grow at a CAGR of 7.9% during the forecast period due to its security and reliability, especially in residential settings.

The U.S. digital door lock systems market accounted for approximately USD 2.5 billion in 2023 and is projected to grow at a CAGR of 7.8% during the forecast period, driven by the rising demand for smart home security and advanced access control.

Key players in the industry include Allegion plc, ASSA ABLOY AB, August Home, Inc., Bosch Security Systems GmbH, Control4 Corporation, Honeywell International Inc., IDEMIA Group, Johnson Controls International plc, Kwikset Corporation, and Latch, Inc.