Commercial Digital Door Lock Market Report 2024 (Global Edition)

Global Commercial Digital Door Lock Market Report 2024 Market Size Split by Type (Magnetic Stripe Locks, Electromechanical Door Locks, Electric Strike Locks), by Application (Mall, Office Buildings, H...

Commercial Digital Door Lock Market Report Description

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Commercial Digital Door Lock Market Insights Video

Competitive Landscape of Commercial Digital Door Lock

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.

(Source:www.business-standard.com/article/companies/samsung-zigbang-partner-to-unveil-unique-uwb-based-smart-door-lock-122120400476_1.html)

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.

(Source:investor.spectrumbrands.com/news-releases/news-release-details/spectrum-brands-completes-sale-hardware-and-home-improvement#:~:text=(NYSE%3A%20SPB%3B%20%E2%80%9CSpectrum,Improvement%20business%20(%E2%80%9CHHI%E2%80%9D))

Top Companies Market Share in Commercial Digital Door Lock Industry: (In no particular order of Rank)

• Vivint
• United Technologies Corporation
• Panasonic Corporation
• Samsung Digital Life
• Weiser Lock
• Hitachi
• Stone Lock
• Adel Lock
• Kwikset
• Schlage
• Guangzhou Digi Intelligent System Manufacturing
• Westinghouse
• Godrej& Boyce
• Assa Abloy Group
• Honeywell International
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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.

The North America Commercial Digital Door Lock Market dominates the Largest Share of Global Market

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

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Commercial Digital Door Lock Market Analysis

Type Segment Analysis

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.

• Magnetic Stripe Locks
• Electromechanical Door Locks
• Electric Strike Locks

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!

Application Segment Analysis

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.

• Mall
• Office Buildings
• Hotel
• Other

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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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.

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