Global Door Entry Systems Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028): Ken Research

 Buy Now

According to Ken Research Analysis, the Global Door Entry Systems Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and is expected to reach approximately US$ 14 Billion by 2028.

For more information, request a free sample

Key Growth Drivers

The increasing demand for smart homes and having safer and more secure business & commercial premises is helping the market grow.

• More and more residential and commercial premises understand the importance of having a secure environment with lesser risks from thefts and other safety concerns which is helping the market growth.

The high upfront investments that are required for the installation of advanced door entry systems and solutions act as a constraint to market growth.

• The low awareness levels among end-users regarding the complete benefits of the door entry systems and privacy concerns as well as data breach risks act as constraints for the market’s growth.

The COVID-19 outbreak had a negative impact on the demand for door entry systems as manufacturing activities came to a standstill due to the imposition of the lockdowns. Even though there was some growth in demand in terms of contactless biometric tools such as face recognition tools but overall, the market suffered due to the pandemic.

Key Trends by Market Segment

By Product: The Card-Based segment held the largest market share in the Global Door Entry Systems Market in 2021.

• The card-based access system uses smart cards which a person has to swipe at a security module that comprises a biometric sensor and an entry panel so that he can enter through the doors that have electronic locks.
• The segment dominated the market because of its cost-effectiveness, reliability over the biometric readers, and convenience of use.

For more information, request a free sample

By Application: The Commercial segment held the larger share of the Global Door Entry Systems Market in 2021.

• In order to prevent unauthorized access, protect assets, and people, commercial establishments such as hotels, entertainment areas, malls, departmental stores, offices, banking institutions, data centers, etc. are adopting the door entry systems which is helping this segment dominate the market.
• Also, the door entry systems offer a safer and more cost-effective solution to these commercial users as compared to manned security systems.

By Geography: North America accounted for the largest market share in 2021 within the total global door entry systems market.

• North American region dominated the door entry systems market due to the presence of a large number of companies in this region, well-developed infrastructure, high awareness among the people, and growing demand for safe & secure systems.

Visit this Link Request for custom report

Competitive Landscape

The Global Door Entry Systems Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players.

Approximately, the large global players constitute 5%, the regional players 35%, and country-niche players 60% of the market by type of companies operating in the market. Some of the major players in the market include ABB, Schneider Electric, Johnson Controls, Honeywell International Inc., Siemens, Bosch Sicherheitssysteme GmbH, IDEMIA, Legrand, Dormakaba Group, ADT, SALTO Systems, S.L. among others.

Recent Developments Related to Major and Emerging Companies

• In December 2021, IDEMIA deployed its first facial recognition, VisionPass, for access control for a large Japanese company in partnership with two technology companies SHODEN and Genetec. The integrated split-second contactless access control solution will be deployed at the entrance of the building of the client company.
• In January 2022, Johnson Controls launched Istar Ultra G2 which is its next-generation door controller system that is targeted towards commercial establishments such as manufacturing facilities, data centers, healthcare facilities, educational institutions, etc. due to its ability to provide higher cyber resiliency and faster processing power.
• In July 2022, Dormakaba Group announced its partnership with Schüco, a company dealing in smart buildings, doors, and windows. The combined entity wanted to work towards developing a door-integrated access management system and access control & digitization projects.

Conclusion

The Global Door Entry Systems Market is forecasted to continue a stable growth that is witnessed during the forecast period. Key trends driving market expansion include the increasing demand for smart homes and having safer and more secure business & commercial premises. The market is highly competitive with ~300 participants concentrating on expansion strategies through product innovations as well as acquisitions, partnerships, and mergers.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Door Entry Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, Market is segmented by product and application. In addition, the report also covers market size and forecasts for the four major regions’ Door Entry Systems Market. The revenue used to size and forecast the market for each segment is US$ billion.

Market Taxonomy

By Product

• Card-Based
• Video/Audio Systems
• Biometric Systems
• Others

By Application

• Residential
• Commercial

By Geography

• North America (USA, Canada, and Mexico)
• Europe (Germany, UK, France, Spain, and Italy)
• Asia Pacific (China, Japan, South Korea, India, and Australia)
• LAMEA (Latin America, Middle East, and Africa)

Key Players

• ABB
• Schneider Electric
• Johnson Controls
• Honeywell International Inc.
• Siemens
• Bosch Sicherheitssysteme GmbH
• IDEMIA
• Legrand
• dormakaba Group
• ADT
• SALTO Systems, S.L.

3 Key Insights on US$ 14 Bn Opportunity in the Global Door Entry Systems Market: Ken Research

 Buy Now

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.

Request For Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTYw

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:-

Global Door Entry Systems Market