Digital Door Lock System Market Research Report for Complete Analysis of Current Scenario May 17, 2022
Transparency Market Research delivers key insights into the global digital door lock
systems market. In terms of revenue, the global digital door lock systems market is estimated to expand at a CAGR of 14.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global digital door lock systems market.
The global market for digital door lock systems is largely affected by numerous factors, including a techno-savvy population and the growing adoption of digital door lock systems for home security and safety. The rising trend of smart home technology is driving the global market for digital door lock systems.
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Digital Door Lock Systems Market: Key Segments
The global market for digital door lock systems has been segmented by type, end-use, and region. In terms of type, the digital door lock systems market has been divided into keypad lock, RFID card digital lock, keyless remote lock, and biometrics lock. The demand for keypad locks and biometric locks is very high, and the trend is anticipated to continue throughout the forecast period, owing to the frequent launch of new products. The biometric segment is further classified into fingerprint recognition, palm recognition, face recognition, voice recognition, iris recognition, and others. The fingerprint recognition segment accounted for a major revenue share in 2020 and is anticipated to expand at a CAGR of 18.4% during the forecast period.
In terms of end-use, the digital door lock systems market has been divided into commercial, residential, government, and industrial. The commercial segment accounted for a significant market share in terms of revenue in 2020. Furthermore, the segment is estimated to record a CAGR of 14.3% during the forecast period.
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