Market Research Report 7th Edition Includes- Market Timeline 2018 till 2030, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
Report ID: CMR514197 | Edition: 7th Global Edition
| The base year for the calculation is 2023 and 2018 to 2023 will be historical period. The year 2023 will be estimated one while the forecasted data will be from year 2023 to 2028. When we deliver the report that time we updated report data till the purchase date. PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access. |
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According to Cognitive Market Research, The Global Commercial Digital Door Lock market will rise at a compound yearly growth rate (CAGR) of 13.10% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2018-2023 |
Forecast Period | 2023-2030 |
Global Commercial Digital Door Lock Market Compound Annual Growth Rate (CAGR) for 2023 to 2030 | 13.1% |
Commercial Digital Door Lock Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Coss-border contact has become more intense due to globalization, increasing the need for translation, localization, and interpretation services. Increased demand for sustainable security and convenience and increasing adoption of smart connecting technologies are the key market drivers enhancing market growth, surging investment in smart city and industrial projects to acc the market, growing need for identification, rising public awareness, and increasing safety and security.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the commercial digital door lock industry.
For instance, according to the White & Case smart cities survey, 15% of Al and loT technologies and 16% of mobile phone apps were used to design and launch smart cities.
(Source:www.uscc.gov/sites/default/files/China_Smart_Cities_Development.pdf)
One of the key trends in the market is the rising implementation of progressive connecting technologies like Bluetooth, Z-wave, 5G networks, Zigbee, and others. Important players are embracing technology to enhance intelligent lock security systems for usage in homes and businesses.
In September 2022, In order to provide everyday smart home access, Yale Home unveiled Yale Assure Lock 2, its new flagship re-designed smart locks. Yale Assure Lock 2 connects Bluetooth and Wi-Fi to control the lock distance.
The rise of smart grids, IoT, and connectivity solutions further enhances CCS's appeal, offering seamless integration with renewable energy sources and grid management. It ensures efficient charging and contributes to reducing carbon emissions, aligning with global sustainability goals.
The market share is anticipated to increase as a result of investments in different smart city and industrial initiatives. In line with plans for smart cities, a number of industry firms, including August Home, DESSMANN, ASSA ABLOY AB, Godrej Group, and others, concentrate on door lock technologies and solutions for numerous governmental, commercial, and residential buildings. To increase the range of products they offer, its businesses want to carry out business methods including partnerships, mergers, and acquisitions. For instance,
ASSA ABLOY announced a collaboration with Bird Home Automation GmbH (DoorBird), a German high-grade IP door intercom manufacturer, to integrate ASSA ABLOY's smart solutions with IP door intercoms to accelerate its penetration in the smart residential home segment
(Source:www.securitysystemsnews.com/article/assa-abloy-acquires-germany-based-maker-of-doorbird)
Governments and corporations invest heavily in EV infrastructure, contributing to the market's growth. The integration of CCS into smart city initiatives and industrial developments is expected to accelerate market expansion, making CCS a crucial component of the sustainable mobility ecosystem.
The commercial digital door lock market faces a notable restraint due to a lack of awareness about intelligent door locks. This obstacle hinders widespread product adoption. Many potential consumers remain uninformed about the benefits and features of these advanced security solutions. This knowledge gap leads to hesitancy in transitioning from traditional lock systems. Additionally, misconceptions or uncertainties regarding the technology may further deter potential buyers. To overcome this challenge, concerted efforts in education and marketing are crucial to enlighten the market about the advantages and functionalities of intelligent door locks, thus driving their acceptance and uptake.
Growing demand for smart door locks during COVID-19 fueled market growth. The COVID-19 pandemic significantly increased the need for sophisticated home security systems to prevent infection or spread of the disease among people who are not utilising the recommended safeguards, such as masks or hand sanitizer. To stop the spread of the virus, people all over the world have started putting in smart home appliances that need less interaction with humans and are replacing conventional security systems.
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Global Commercial Digital Door Lock Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Commercial Digital Door Lock Industry growth. Commercial Digital Door Lock market has been segmented with the help of its Type, Application , and others. Commercial Digital Door Lock market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Magnetic stripe locks have been a staple in access control for decades. These locks utilize magnetic stripe cards for authentication, creating a cost-effective choice for many businesses and organizations. It was relatively simple to install and maintain, and their technology is well-understood by security professionals. Despite their long-standing presence, magnetic stripe locks have certain limitations. They are vulnerable to card cloning and are gradually replaced by more secure technologies in high-security applications.
Electromechanical door locks represent a step up in security compared to magnetic stripe locks. They rely on electronic components and often incorporate features like keypads, RFID card readers, and biometric scanners for access control. Its locks offer a higher level of security and flexibility regarding user authentication. Electromechanical door locks are widely used in commercial buildings, government facilities, and healthcare institutions where stringent security measures are necessary.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Commercial Digital Door Lock Industry. Request a Free Sample PDF!
Malls have emerged as strategic locations for CCS installations due to their high foot traffic and the growing trend of consumers visiting shopping centers. CCS stations in malls offer EV owners the convenience of charging their vehicles while shopping or dining, enhancing the overall customer experience. Mall operators increasingly recognize the value of charging services to attract EV-driving shoppers.They can be integrated with other systems like CCTV and alarm systems, providing a comprehensive security solution. Additionally, keyless entry and remote access management are highly desirable in busy mall environments. Factors like foot traffic, retail trends, and technological advancements influence the market in this segment.
Office buildings play a crucial role in the CCS market, catering to the needs of employees and visitors who drive electric vehicles. Many companies prioritize sustainability and provide EV charging infrastructure as an employee benefit. Office building owners recognize the potential revenue streams from charging services, making it a profitable investment. Additionally, features like time-based access and audit trails cater to the specific needs of office environments. Market trends are influenced by factors such as the proliferation of commercial spaces, smart building technologies, and an increased emphasis on workplace security.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Commercial Digital Door Lock market report 2023 Edition by contacting our team.
The commercial digital door lock market has been experiencing steady growth globally, with various regions contributing to its expansion. The largest market for commercial digital door locks was North America, driven by a well-established construction industry, a high adoption rate of advanced technologies, and a growing awareness of security solutions. The acceptance of comprehensive technologies and the rapid spread of smart homes in nations such as the United States, Canada, and Mexico are driving the region's growth. The increased use of devices like smart speakers by consumers makes them a potential audience for any regional e-commerce firm.
Due to the increasing number of smart city projects in nations such as India, Japan, China, South Korea, ASEAN, Oceania, and others, Asia Pacific is expected to be the fastest-growing area. Furthermore, in order to achieve a major market share, firms are producing innovative smart door locks. In China, Xiaomi released the Smart Door Lock E10, which has a fingerprint scanner, NFC, and a keypad to enable numerous methods to unlock the door. This door lock features 99% accurate fingerprint recognition and a 0.5-second latency that connects through Bluetooth and unlocks the door with a smartphone or wristwatch. Additionally, the escalating need for enhanced security measures in commercial spaces and a shift towards smart home technologies contributed to the rising demand for digital door locks in this region.
The current report Scope analyzes Commercial Digital Door Lock Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Commercial Digital Door Lock Market is witnessing significant growth in the near future.
In 2023, the Magnetic Stripe Locks segment accounted for noticeable share of global Commercial Digital Door Lock Market and is projected to experience significant growth in the near future.
The Mall segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Vivint , Panasonic Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Why Magnetic Stripe Locks have a significant impact on Commercial Digital Door Lock market? |
What are the key factors affecting the Magnetic Stripe Locks and Electromechanical Door Locks of Commercial Digital Door Lock Market? |
What is the CAGR/Growth Rate of Mall during the forecast period? |
By type, which segment accounted for largest share of the global Commercial Digital Door Lock Market? |
Which region is expected to dominate the global Commercial Digital Door Lock Market within the forecast period? |
Industry segmentation can be altred as per your needs. For example, we can proivde cross slipt between Magnetic Stripe Locks with Application, , additional country analysis, volume/consumption data, etc.
Major Type Analysed |
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Major Application Analysed |
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Top Manufacturers Disclosed |
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Global, Regional and Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Commercial Digital Door Lock industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Segmentation Level Customization | |
Global level Data Customization | |
Region level Data Customization | |
Country level Data Customization | |
Company Level | |
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Service Level Customization | Report Format Alteration |
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This is a revenue and volume specific report edition where the data is restricted for the revenue and volume.The pricing are according to the user license selection single user license: $3,445.00 USD, Team user license: $5,545.00 USD and Corporate user license:$7,845.00 USD On request we can arrange the copies depending the payment made from your side.
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This chapter helps you to understand the importance of report and how we designed the report scope of Commercial Digital Door Lock market. As per your requirement we can also design the market scope as a customised report.
This chapter provides insights on our data collection and data validation process. It covers detailed information on wide range of sources referred during the study.
At Cognitive Market Research, we have designed questionnaire focused on Commercial Digital Door Lock Market for the statistical study. This questionnaire is the key part of our research methodology which is shared with number of Commercial Digital Door Lock industry experts of entire value chain, located across the globe. This study help us to gather accurate quantitative and qualitative data for the final report.
The executive summary is an overview of a Commercial Digital Door Lock Market Report. In this chapter we have summarized the overall report data in snapshot format.
This chapters incorporated product description overview and regional sales statistics for the year 2018-2030.
This chapter covers a competitive analysis of the global Commercial Digital Door Lock market, and it includes quantitative information such as revenue and market share of the manufacturers. The chapter also includes information regarding the strategies adopted by the manufacturers such as mergers, acquisitions, and new product launches.
ESG analysis is the consideration of all factors in investment including environmental, social, and governance (ESG) factors. ESG integration is key part of the investment process. ESG analysis helps to measure company’s goals and progress when it comes to climate change, social improvement and good governance.
This chapter helps you understand the Market Drivers, Market Restrain, Market Opportunity and Trends by each segment.
This segment of the report provides in-depth and pertinent information on every foremost player in the market through both primary and secondary research. The Company Basic Information, and Sales Area chapter includes ten or more key players, which are dominating the market. Each company profile includes demystifying professional information in a tabular format, which comprises the company’s official website, established year, market position, geographical presence, competitors, and contact information. Further, company profiling includes an in-detailed business overview, COVID-19 impact on the particular firm, product type specifications, revenue & market share, and recent developments done by the company for its inorganic development, such as mergers, strategic acquisitions, partnerships, and others. Besides, profiling includes the company’s investment in research and development activities. The recent innovative product launches, business expansion, investments done by the company in different markets, and other news are also available in the company profiling section. At last, it provides the company’s business strategy and SWOT analysis.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter categorizes detailed perceptions into an application segment based on end users’ needs, and preferences to understand their requirements and purchasing patterns effectively. It analyzes the current trends of the market that mainly consists of information related to new product use, trends in consumer demand, and available close substitutes of the product.
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Commercial Digital Door Lock market
Top Companies Market Share in Commercial Digital Door Lock Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables..
Key Companies to Concentrate on Investments to Increase Market Share To attract a broad consumer base, key players in the global market are focusing on extending their regional presence by altering their present goods and solutions and releasing new items. These techniques will assist them in gaining a competitive advantage and increasing their revenue margins. Additionally, regional players like Dormakaba Holdings and Kwikset Corporation are gaining traction with specialized offerings tailored to specific markets. The market is characterized by intense competition, driving companies to invest heavily in research and development to stay ahead regarding features and functionality.
December 2022: Samsung collaborated with Zigbang, a prop-tech firm, to develop a smart door lock using an Ultra Wide Band chip. The Zigbang UWB smart key door lock is opened by a UWB chip, which eliminates the need for the smartphone's touch.
November 2022: Yale introduced a new smart storage solution in India to expand its smart home device portfolio and promote the Yale Access of linked devices in this market. It introduced a new device called the Yale Smart Safe, which can be fully controlled via the Yale Access app.
(Source:yaleonline.in/pages/new-launch)
September 2021: Assa Abloy purchased Spectrum Brands' hardware and Home Improvement (HHI) division to expand its product offering and speed the transition from mechanical to digital solutions.
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