Driven by the increasing demand for smart homes and having safer and more secure business & commercial premises, the Global Door Entry Systems Market is Forecasted to Reach ~US$ 14 Bn by 2028 says Ken Research Study.
Door Entry Systems are generally access control systems used to control the entry and exit to a particular residential or commercial building, property, or zone. These can be some unlocking devices, intercoms, or doorbells that allow only authorized persons to access a particular area that is mostly multi-user or multi-tenant. These can be contactless biometric readers that are capable of face recognition or automatic doors or fingerprint readers among other types.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Increased Need for Secure and Safe Residential and Commercial Areas Has Increased the Market’s Growth Rate
According to Research estimates, the Global Door Entry Systems Market – which was valued from around US$ 6 Bn in 2017 to nearly US$ 9 Bn by 2022 – is expected to grow further to ~ US$ 14 Bn opportunity by 2028.
Some of the factors that propel the growth of the Door Entry Systems market over the forecast period include the increasing preference of customers for smart homes, and demand from commercial, business, and critical infrastructure for safer and more secure premises.
2. High Number of People Preferring Smart Security Systems Globally is Helping the Market Growth
The door entry systems market is going to get a boost due to more and more people preferring smart home solutions in their residential properties. Many millennials prefer to have alternate methods of entry to their houses which can be through a smartphone, card, or by any other method such as biometrics among others.
There is a growing preference among households to adopt smart home technologies that can offer them more security. Hence, there has been a consistent increase in the amount people are willing to spend to protect their homes.
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3. High Costs Associated with the Set Up of Door Entry Systems are A Major Challenge to the Growth of the Market
The high installation cost of Door Entry Systems acts as a major hindrance to the growth of the market. The cost is generally decided by the door entry system one is opting for as well as the number of doors for which the system will be used for.
In addition to this, there will be per access card or key fob charges as well as additional year-on-year costs of operation, maintenance, and services.
For more information on the research report, refer to below link:-
