Selbyville, Delaware, Jan. 20, 2025 (GLOBE NEWSWIRE) --
Digital Door Lock Systems Market size reached USD 7.6 billion in 2023 and is projected to expand at a CAGR of 7.4% from 2024 to 2032. This growth is primarily driven by the rising demand for enhanced home security solutions.
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With increasing concerns about urban safety, homeowners are turning to advanced digital locks that offer superior protection compared to traditional systems. These digital locks feature cutting-edge technologies such as biometric access, remote control, and activity monitoring, making them a preferred choice for those seeking reliable and secure access control.
Moreover, the growing adoption of smart home automation is further accelerating the uptake of digital door locks. By integrating these locks with other smart devices like cameras, alarms, and lighting systems, homeowners can create a unified and robust security network. The ability to manage access through mobile applications, set lock schedules, and receive real-time updates appeals to tech-savvy consumers, offering them greater control and convenience. These systems are not only easy to use but also compatible with popular smart home platforms, making them an attractive option for a growing number of users.
The digital door lock systems market is segmented based on lock type, with categories including deadbolt, lever handle, padlock, and others. In 2023, the deadbolt category led the market, contributing approximately USD 3.5 billion in revenue. This segment is expected to maintain its dominance due to its proven security and dependability, especially in residential settings. Digital deadbolts are particularly favored for their durability, ease of installation, and seamless integration with smart home systems. Features like keyless entry, remote access, and smartphone control continue to boost their popularity among homeowners.
Regarding distribution channels, the digital door lock systems market is divided into online and offline sales. In 2023, the offline segment accounted for the largest market share, with 61.2% of total sales. This segment is anticipated to continue growing, driven by consumer preference for in-person product demonstrations. Many buyers value the opportunity to interact with the products before making a purchase, benefiting from the assistance of knowledgeable sales staff in stores.
U.S. digital door lock systems market plays a significant role, contributing USD 2.5 billion in 2023. With increasing demand for advanced security solutions in both residential and commercial sectors, the U.S. market is projected to grow at a strong pace. Factors such as urbanization and heightened security concerns are driving the adoption of digital door locks, particularly in areas with high security needs. Additionally, the demand for keyless and remote access solutions is increasing in response to evolving lifestyle trends.
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Major players in digital door lock systems market 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., and Yale Security Inc among others.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factors affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Rising demand for smart home security solutions
3.6.1.2 Increasing urbanization and infrastructure development
3.6.1.3 Advancements in wireless connectivity and IoT integration
3.6.2 Industry pitfalls & challenges
3.6.2.1 High initial installation costs
3.6.2.2 Cybersecurity and privacy concerns
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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