Dublin, July 11, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Door Lock System Market by Type (Biometrics, Keypad Locks, RFID Locks), End User (Commercial, Government, Industrial) - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Door Lock System Market size was estimated at USD 5.56 billion in 2022, USD 7.34 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 32.15% to reach USD 51.79 billion by 2030.
Market Statistics:
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Global Digital Door Lock System Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
The report answers questions such as:
- What is the market size and forecast of the Global Digital Door Lock System Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Digital Door Lock System Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Digital Door Lock System Market?
- What is the competitive strategic window for opportunities in the Global Digital Door Lock System Market?
- What are the technology trends and regulatory frameworks in the Global Digital Door Lock System Market?
- What is the market share of the leading vendors in the Global Digital Door Lock System Market?
- What modes and strategic moves are considered suitable for entering the Global Digital Door Lock System Market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 192 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $7.34 Billion |
| Forecasted Market Value (USD) by 2030 | $51.79 Billion |
| Compound Annual Growth Rate | 32.1% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising consumer spending for improved homeland security
- Proliferation of mobile technology and internet-enabled devices
- Increase in smart construction activities
Restraints
- High installation cost
Opportunities
- Emerging advanced connected technologies for digital door lock systems
- Supportive government investments for smart cities
Challenges
- Issues regarding cyber thefts and safety
Companies Mentioned
- ASSA ABLOY Group
- dormakaba Group
- Godrej
- Hitachi Ltd.
- Honeywell International, Inc
- Kwikset
- Ozone Overseas Pvt. Ltd.
- Safewise
- Samsung SDS
- Siemens AG
Market Segmentation
This research report categorizes the Global Digital Door Lock System Market in order to forecast the revenues and analyze trends in each of following sub-markets:
- Based on Type, the market is studied across Biometrics, Keypad Locks, and RFID Locks. The Keypad Locks is projected to witness significant market share during forecast period.
- Based on End User, the market is studied across Commercial, Government, Industrial, and Residential. The Industrial is projected to witness significant market share during forecast period.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.
For more information about this report visit https://www.researchandmarkets.com/r/o2tl16
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