According to Market Research Future (MRFR), the global digital door lock systems market is expected to reach USD 14 billion with a CAGR of approximately 33% from 2017-2023 (forecast period). The report illustrates the market opportunities and market implications that arose as a result of the COVID-19 pandemic.

1. Digital Door Lock Systems Market is Set to Achieve USD 14
Billion by 2023 | Know COVID-19 Analysis | Top
Companies- Hanman International Pte Ltd., Hitachi Ltd.
As per Market Research Future (MRFR) North America to Spearhead the
Global Digital Door Lock Systems Market and Poised to Reflect 33%
CAGR by 2023
According to Market Research Future (MRFR), the global digital door lock systems market is
expected to reach USD 14 billion with a CAGR of approximately 33% from 2017-2023 (forecast
period). The report illustrates the market opportunities and market implications that arose as a
result of the COVID-19 pandemic.
Digital door lock systems are used for the safety and security of personal, organizational, and
professional assets. Digital lock systems are used in a variety of workplaces, such as residential,
companies, and government offices around the globe. There are many forms of digital door lock
systems available on the market, such as fingerprint recognition, voice recognition, face
recognition, and some others.
Market Dynamics
Increasing demand for improved home security solutions is a crucial driver of the growth of the
market for digital door lock systems. Growing demand for reliable and cost-effective digital
door security systems and solutions at the workplace is also one of the vital factors driving the
growth of the global market for digital door lock systems.

2. Key Players
Some of the industry giants in the global digital door lock systems market are Hanman
International Pte Ltd. (Singapore), Hitachi Ltd. (Japan), Nestwell Technologies (India), Cisco
Systems, Inc. (U.S.), Godrej & Boyce Manufacturing Company Ltd. (India), Allegion PLC (Republic
of Ireland), Panasonic Corporation (Japan), Wintec Electronic Tech Co. Ltd. (China), Assa Abloy
Group (Sweden), United Technologies Corporation (U.S.), Vivint, Inc. (U.S.), Xeeder Technology
Co. Ltd. (China), Honeywell International Inc. (U.S.), Siemens AG (Germany), and Tyco
International Ltd. (Republic of Ireland) among others.
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Market Segmentation
The global market for digital door lock systems has been segmented into type and end-user.
 Based on the type, the global digital door lock systems market has been segmented into
biometrics and keypad. The biometrics segment is further divided into face recognition,
iris recognition, palm recognition, voice recognition, signature recognition, and
fingerprint recognition. The biometrics segment is expected to witness the highest
market share of the digital door lock systems market and is also expected to rise at the
highest pace over the forecast period due to the growing deployment of high-level
security solutions.
 Based on the end-user, the global digital door lock systems market has been segmented
into commercial, residential, industrial, and government.
Regional Analysis
Region-wise, the global digital door lock systems market has been segmented into Asia Pacific,
North America, Europe, and the Rest of the World.
The North America region gained the largest market share in the world, followed by Europe and
the Asia Pacific. The U.S. and Canada control the North American market due to growing
technological advances and increasing demand for safety and security in the region. In addition,
the area has a well-established infrastructure that allows for faster deployment of advanced
technologies. In addition, the increasing adoption of convenient safety solutions is another
primary driver of the expansion of the digital door lock systems market in the region.
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TABLE OF CONTENTS:

3. 1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Digital Door Lock Systems Market, By Segments
7. Competitive Analysis
Continued…
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