Neural Network Software Market: Excellent Quality, Versatility, And Range Of Potential Applications 2017 - 2025

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 According to a new market report published by Transparency Market Research titled “Digital Door Lock Systems Market–Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,” the global digital door lock systems market was valued at US$ 1,421.0 Mn in 2018 and is expected to expand at a CAGR of 30.25% from 2019 to 2027, reaching US$ 19,378.1 Mn by the end of the forecast period.

Growth of micro, small and medium enterprises (MSMEs) across the world to influence the expansion of the market worldwide

Growth in the number of reported cases of crimes, burglaries, and home invasion around the world is among the major reasons for the market’s growth. Based on type, the digital door lock systems market is segmented into biometrics and keypad locks. Biometrics segment can be further divided into face recognition, iris recognition, palm recognition, voice recognition, signature recognition, and fingerprint recognition.

Commercial segment expected to occupy major revenue share

Based on end-use, the market has been segmented into government, industrial, commercial, and residential. The commercial segment can be seen to hold maximum revenue share in 2018. This can be attributed to the increasing number of commercial industries that are deploying advanced security systems in their premises to prevent unauthorized access and provide a hassle free entry and exit experience to consumers.

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Asia Pacific to be the fastest growing region due to the increasing adoption of digital door lock systems in industries for enhanced security and safety

In terms of geography, the market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2018, Europe was the topmost revenue generating region followed by North America. The market in Asia Pacific is expected to expand at the highest CAGR from 2019 to 2027 due to the growing adoption of digital door lock systems in industries and homes especially in China. The market in Asia Pacific is expected to expand at a CAGR of 34.26% over the forecast period.

Key players in the market focusing on regional expansion to expand their global footprint and gain competitive edge

Key players are focusing on the introduction and development of new products to gain a competitive edge and improve brand positioning in the digital door lock systems market. Furthermore, they are engaged in forming strategic alliances with peers and less established players in order to gain a higher market share. The key players profiled in the global digital door lock systems market include Cisco Systems, Inc., Onity Inc., ADT Inc., Assa Abloy Group, Vivint, Inc., Allegion PLC, Godrej & Boyce Manufacturing Co. Ltd.,  Honeywell International Inc., Panasonic Corporation, Johnson Controls, and August Home

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