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Digital Door Lock System Market 2020: Manufacturers- Siemens Ag, Honeywell International, Hitachi, the Assa Abloy Group, Cisco Systems, Godrej & Boyce

A recent report published by QMI on digital door lock system market is a detailed assessment of the most important market dynamics. After carrying out thorough research of digital door lock system market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for digital door lock system during the forecast period. It can enable manufacturers of digital door lock system to change their production and marketing strategies in order to envisage maximum growth.

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According to the report, the increasing development of smart cities is expected to drive the growth of digital door lock system market during the forecast period. This has resulted some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

Authorization of access has become essential in recent times due to security issues in various corporations. As industries have a huge number of employees, it is not possible to manually track when people are entering or exiting the place. For this purpose, the digital door lock system is introduced.

Segmentation for better understanding of this market and its growth prospects:

Based on product type, the market has been divided into biometrics and keypad locks. The biometrics segment has been further divided into face, fingerprint, voice, iris, palm, and signature recognition. The keypad locks segment has been divided into, magnetic strike, electromechanical, and electric strike. Fingerprint is a leading biometrics segment, as fingerprints are most reliable, as it cannot be changed and also that the system requires small space and is unaffected by any temperature changes. It is being widely used in both residential and commercial sectors.

Based on end user, the market has been segmented into government, commercial, residential, and industrial. The residential sector is growing at a fast rate, as many new apartment buildings are installing these features for added safety. Personal security is being promoted by these features and hence, many old and new residential buildings are using them.

However, the reluctance of people to switch from traditional locks to advanced locks can prove to be a restraint for the market.

Factors that will have a significant impact on the market growth are:
o Need for convenience by the provision of keyless entry
o Increasing development of smart cities

Insights about regional distribution of market:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

For digital door lock system market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions on the digital door lock system market.

North America and Western Europe have been one of the key regions with technological advancements in ICT, electronics & semiconductor sector. Factors like the use of advanced technology and presence of global companies to cater the potential end users are favourable for the growth of digital door lock system market. Also, most of the leading companies have headquarters in these regions.

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Asia Pacific is estimated to be one of the fastest growing markets for digital door lock system market. Major countries in the Asia Pacific region are China, Japan, South Korea, India and Australia. These economies in the APAC region are major contributors in the ICT, electronics & semiconductor sector. In addition to this, government initiatives to promote technological advancement in this region are also one of the key factors to the growth of digital door lock system market. Middle East and rest of the World are estimated to be emerging regions for digital door lock system market.

Companies Covered: Siemens AG, Honeywell International, Inc., Hitachi Ltd., the ASSA Abloy Group, Cisco Systems, Inc., and Godrej & Boyce

Market Segmentation:
By Product Type:
o Biometrics
o Fingerprint Recognition
o Face Recognition
o Iris Recognition
o Signature Recognition
o Voice Recognition
o Palm Recognition
o Keypad Locks
o Magnetic Stripe
o Electromechanical
o Electric Strike

By End User:
o Government
o Commercial
o Residential
o Industrial

By Region:
o North America
o By Country (US, Canada, Mexico)
o By Product Type
o By End User
o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Product Type
o By End User
o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product Type
o By End User
o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Product Type
o By End User
o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Product Type
o By End User
o Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Product Type
o By End User

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: US +1 208 405 2835 UK +44 144 439 0986 APAC +91 706 672 4848
Email: [email protected]
Web: www.quincemarketinsights.com

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