Global Electronic Door Locks Market Report and Forecast 2024-2032

Global Electronic Door Locks Market Report and Forecast 2024-2032

Global Electronic Door Locks Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global electronic door locks market is projected to grow at a CAGR of 7.8% between 2024 and 2032. Aided by technological advancements and the heightened demand for security solutions, the market is expected to grow significantly by 2032.

Electronic door locks, pivotal in modern security systems, offer enhanced protection through features like keyless entry, remote access, and biometric recognition. Their adoption is driven by the increasing consumer focus on safety and security for residential and commercial properties alike, coupled with the growing smart home trend.

The proliferation of IoT (Internet of Things) and smart home technology has significantly contributed to the electronic door locks market growth. As consumers seek more integrated and convenient security solutions, electronic door locks have become an essential component of connected home ecosystems, offering users the ability to control access to their homes remotely via smartphones or voice-activated devices.

Moreover, the commercial sector, including hotels, offices, and retail establishments, is increasingly adopting electronic door locks to streamline access management, enhance guest experiences, and bolster security protocols. The flexibility and scalability of electronic door locks, accommodating various authentication methods such as PINs, RFID, biometrics, and mobile credentials, cater to the diverse needs of these applications.

The expansion of electronic door locks market is fuelled by continuous innovation, with manufacturers focusing on integrating advanced technologies to improve security, usability, and interoperability. Biometric authentication, employing fingerprint or facial recognition, is gaining traction for its high security and convenience, eliminating the need for physical keys or codes.

As per the electronic door locks market analysis, a significant trend is the integration of electronic door locks with home automation systems and voice assistants, enabling users to control locks using voice commands and set up custom automation scenarios for enhanced security and convenience. The push towards more energy-efficient and sustainable security solutions is also evident, with the latest models featuring low-power consumption designs and longer battery life, minimising their environmental impact.

North America occupies a substantial electronic door locks market share, due to its early adoption of smart home technologies and a strong focus on residential and commercial security. However, the Asia-Pacific region is projected to experience the highest growth rate, fuelled by rapid urbanisation, increasing awareness of security technologies, and the expansion of the hospitality sector.

Market Segmentation

The market can be divided based on type, authentication method, end use, and region.

Market Breakup by Type

• Deadbolts
• Knobs
• Lever

Market Breakup by Authentication Method

• Biometric
• Pin Code
• Card Key

Market Breakup by End Use

• Residential
• Commercial
• Industrial

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global electronic door locks market. Some of the major players explored in the report by Expert Market Research are as follows:

• Honeywell International Inc.
• Samsung Electronics Co., Ltd.
• Carrier Global Corporation
• ASSA ABLOY AB
• Avent Security (HK) Co., Ltd.
• Spectrum Brands Holdings, Inc.
• Vivint, Inc.
• SALTO Systems, S.L.
• Dormakaba International Holding AG
• Godrej & Boyce Manufacturing Co. Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.