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Cylindrical Door Lock Market Trends

Report ID: GMI8258
Published Date: Feb 2024
Report Format: PDF

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Cylindrical Door Lock Market Trends

The increasing demand for smart cylindrical door locks is also attributed to the expansion of smart house adoption globally and the entry of businesses utilizing home automation technologies. Companies are focused on creating cutting-edge solutions and commercially viable goods such as remote door & window locking and opening. Furthermore, manufacturers are fusing their products with voice assistants, allowing voice control over locks as the number of houses equipped with these devices increases significantly. The industry has also profited greatly from rising new installations brought about by the expansion of construction projects in developing economies.

One of the most noticeable components of a connected home is the smart cylindrical door lock when it is integrated into the ecosystem. The hospitality sector is one area where smart locks are being widely used. To increase the security of their properties, a number of hotels intend to replace RFID locks that are accessed by IC cards with Wi-Fi or Bluetooth-enabled locks. Z-wave, Wi-Fi, Thread, ZigBee, and other communication technologies enable connectivity in smart home technology.

Authors: Aviansh Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Cylindrical door lock industry size was USD 3.98 billion in 2023 and is anticipated to witness over 6% CAGR between 2024 and 2032 due to the rising consumer interest in sophisticated locking systems

The deadbolt type segment reached USD 1.74 billion in 2023 and is anticipated to grow till 2032 due to low installation costs, excellent durability, and sufficient protection against entry.

Demand for commercial cylindrical door locks generated a revenue of USD 2.15 billion in 2023 owing to the growing consumer demands for security.

North America recorded 47% of the global cylindrical door lock industry share in 2023, attributed to the extensive technology adoption and rapid expansion of smart homes in the U.S.