Global digital door lock system market worth $11.23 billion by 2024

A 32.8 percent CAGR from this year up to 2024 is expected for the global digital door lock systems industry, according to Transparency Market Research. Market value is said to hit $11.23 billion at the end of the forecast period from $920.7 million in 2015.

The market research firm points out that small and midsize companies in Asia, including China and India, have posted good growth figures that helped propel the overall market. Low-cost digital door locks from these makers will continue to be in demand. The firm’s report also highlights that biometric technologies will remain popular in digital door locks.

With this trend in mind, makers of biometric door locks and systems have not stopped improving their technology. Recently, Amazon has filed a patent that makes face recognition more secure. With that, biometric systems used for mobile payment will not be tricked anymore by still images because they can ask the person to make specific movements. There are also new door locks that can recognize faces even in total darkness and others that combine fingerprint and face recognition with other unlocking methods, including cards and passwords. Biometric security still has more aspects to improve, and providers of convenient solutions that see and address the current flaws could secure a good lead in the growing industry.