Door Lock Market
Door Lock Market Global Industry Assessment & Forecast
#
Pages:
180
2021
Nov - 2021
VMR-2021-0755
Segments Covered
By
Product Traditional Digital Door Lock, Smart Door Lock
-
By
Application Residential, Commercial, Industrial, Government, Others
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
1.38 Billion |
 Revenue 2028:
|
6.51 Billion |
 Revenue CAGR
(2021 - 2028): |
21.40% |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Product Analysis: Preview On the basis of Product,
the market is segmented into Traditional Digital Door Lock, Smart Door Lock. Smart door lock held the
leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the
forecast timespan. This is due to the increasing adoption of Smart door lock
in emerging economies in Asia Pacific region. Application
Analysis: Preview
Based on Application,
the market is segmented into Residential, Commercial, Industrial, Government, Others,. Commercial accounted
for the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Door Lock Market: Product Segment Analysis
-
- Traditional Digital Door Lock
- Smart Door Lock
Global Door Lock Market: Application Segment Analysis
-
- Residential
- Commercial
- Industrial
- Government
- Others
FAQ
Frequently Asked Question
What is the global demand for Door Lock in terms of revenue?
-
The global Door Lock valued at 1.38 Billion in 2020 and is expected to reach 6.51 Billion in 2028 growing at a CAGR of 21.40%%.
Which are the prominent players in the market?
-
The prominent players in the market are Jiangmen Keyu Intelligence, Locstar, Spectrum Brands Holdings Inc., Adel, Honeywell, Salto Systems, August, Videx Security Ltd, Guangdong Level Intelligent Lock, Tenon, CDV Group Company, MIWA Lock, Kaba Holding AG, Samsung, DynaLock Corporation, Guangdong Be-Tech, Cisco Systems Inc, Onity (United Technologies Corp.), Master Lock (Fortune Brands), Allegion, Assa Abloy, Seoul Commtech Co. Ltd..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 21.40%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Door Lock include
- The rising Internet of Things (IoT) penetration along with the advent of technologies such as Machine Learning (ML) and Artificial Intelligence (AI) are expected to accelerate the mass adoption of smart locks over the forecast period.
- The growing consumer awareness regarding the benefits and convenience offered by these locks is responsible for their increasing demand, especially across the residential and hospitality sectors globally thereby elevating the market growth.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Door Lock in 2020.
