The days of the traditional lock and key seem to be dwindling away into the past, as technology has been at work on creating some amazing electromechanical locks. These locks aim to forever erase the question of where you left your key, and replace it with a combination of recognition techniques that ensure a far superior form of security; something burglars won’t be able to break through using simple bolt cutters and bobby pins.
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Digital door lock and systems are gaining steam and represented a market worth US$731.9 mn in 2014. Thanks to the myriad of factors that are currently working in its favor, this market could easily achieve a CAGR of 31.8% between 2015 and 2023. Perhaps one of the greatest reasons for this phenomenal growth rate is the large number of MSMEs that are currently surging ahead with innovations and ideas that are revolutionizing home and personal security. They are not only adding the best of features in their lock systems, but they are also working hard to put their products and services out at an affordable price that every type of homeowner can be happy about.
Why Digital Door Lock Systems are Better than Standard Locks
The global digital door lock systems market is one of the forerunners in the entire automated home race that was founded on the principle of making a home an intuitive unit that functions around a homeowner’s choices. The idea was not only about the average person manning a chain of wireless tech around his or her house, but also embraced safety and security features for the geriatric demographic as well as children. Access to a home can be given to a person of choosing, such as family and other relatives, housekeeping, and babysitters, while warding off any other unwanted person that tries to gain access to the home.
The best part is that all of this can be achieved today, at prices that make it a lot easier for most people in at least the developed economies to have this level of security within their reach. This is thanks to cost-effective and still highly-effective communication technology that uses ZigBee or the home automation specific communication protocol: Z-Wave. Each can provide electronics to wirelessly relay data to each other and thus function in a true Internet of Things (IoT) fashion.
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Fingerprint Sensors and Keyless Entry – The High Points of the Digital Door Lock Systems Market
The global digital door lock systems market had one bit of tech that dominated the scene in 2014, and that was fingerprint sensing. It took up nearly 77% of the market at the time. And while that was only two years ago, the market is already on the path to creating a completely wireless and touch-free recognition system that is as fast as the user. From tap control to face recognition, top-of-the-line tech is slowly becoming more and more accessible to the masses.
Be it protection or simplicity, this not-so-simple market of digital door lock systems is more than keeping up with the pace when it comes to catching consumers’ imaginations and still fit in their budgets.