- Report ID: BMRC 977 | Number of pages: 200 | Publish Date: Apr 2020
Status: Published | Category: Semiconductor | Delivery Timeline:
"Wireless Door Lock System Market is valued at USD 968.7 Million in 2018 and expected to reach USD 1802.9 Million by 2025 with the CAGR of 9.28% over the forecast period."
Increasing advancements in smart home automation coupled with IoT technologies and rising usage of advanced systems with minimum complexity are the key factors fuelling the growth of the Global Wireless Door Lock System Market.
Wireless door lock system communicates with an access control system without any wiring or a separate card reader. Wireless door lock systems offer the great security as wired door locks with easier installation. It can be applied in a wired lock system that allows the individual to have a combined wired or wireless system. Some wireless locks use IP or RSI communication as well as use a gateway that communicates from the locks to the access control system. Combination of smart locks into the security system can increase connectivity among all of smart devices. They allow user to lock and unlock doors remotely. Wireless deadbolt locks can remove the need to manage physical keys at busy complexes and eliminate need of patients to carry keys also offering convenient cardholder management. Wireless door lock system can be opened with smartphone having advantages to senior citizen that they don’t have to struggle with keys or go near the door to open it.
Wireless door lock system market is segmented on the basis of type, application and by region & country level. Based on type, wireless door lock system market is segmented into bluetooth & Wi-Fi, RFID and others. Based on application, wireless door lock system market is segmented into residential, commercial, government and industrial.
The regions covered in this wireless door lock system market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of wireless door lock system market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the wireless door lock system market are,
Wireless Door Lock System Market Dynamics:
Increasing advancements in smart home automation coupled with IoT technologies and rise in usage of advanced systems with minimum complexity are the key factors supporting the growth of wireless door lock system market within the forecast period. From a recent IoT market study, the population of IoT devices will reach around 26 billion by 2020, from only 900 million in 2009. The home automation function in wireless door lock system enables user to conveniently control and monitor home environment and all condition at any time from anywhere. It also allows users to remotely monitor the condition inside the house through internet or any other public network. Furthermore, with increasing popularity of smartphones and internet, the wireless door lock system market is also growing rapidly. An IoT market is growing exponentially with the increasing number of smart devices show the inclination of the industry toward offering these wireless door lock solutions to increase convenience. However, high cost of installation may hamper the growth of this market. Moreover, encryption based wireless door lock system will provide the great opportunities to the user as well as manufacturers to reset his own password.
North America is Expected to Dominate the Global Wireless Door Lock System Market.
North America is expected to dominate the wireless door lock system market due to the rising expenditure on smart automation technologies and presence of advanced security infrastructure. To improve security, smart and secure wireless locks are already used by the U.S. enterprises to automatically lock or unlock classrooms, lecture halls, operating rooms, hotel rooms, labs and equipment storage. Asia pacific is emerging as the fastest growing region due to the increasing adoption of wireless door lock system in response to the growing smart homes markets and rapid economic growth. In Asia, smart homes and building market is one of the emerging markets growing at a CAGR of 37.7%.
Key Benefits for Wireless Door Lock System Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Type: Bluetooth & Wi-Fi, RFID, Others
By Applications: Residential, Commercial, Government, Industrial
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Wireless Door Lock System Market 2020 By Type (Bluetooth & Wi-Fi, RFID, Others ), By Applications (Residential, Commercial, Government, Industrial) Forecast to 2025