The digital door lock systems market is expected to witness significant growth, driven by increasing urbanization and infrastructure development. According to a report by Global Market Insights Inc., the market size is projected to expand at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2032, reaching $14.3 billion by the end of the forecast period.
The growing demand for enhanced home security solutions is driving the adoption of digital door locks. These locks offer superior protection compared to traditional systems, featuring cutting-edge technologies such as biometric access, remote control, and activity monitoring. The integration of digital door locks with smart home automation systems is also accelerating their uptake, enabling homeowners to create a unified and robust security network.
The digital door lock systems market is segmented by lock type, with deadbolt locks leading the market in 2023, contributing approximately $3.5 billion in revenue. This segment is expected to maintain its dominance due to its proven security and dependability, especially in residential settings.
In terms of distribution channels, the offline segment accounted for the largest market share in 2023, with 61.2% of total sales. This segment is anticipated to continue growing, driven by consumer preference for in-person product demonstrations.
The U.S. digital door lock systems market plays a significant role, contributing $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.
Key players in the 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.
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