Digital Door Lock System Market Projected to Hit $54.4 Billion by 2030; Keypad and Biometric Locks Lead Growth [Yahoo! Finance]
ADT Inc. (ADT)
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Source: Yahoo! Finance
As technological advancements redefine security measures worldwide, the global market for Digital Door Lock Systems is experiencing a significant surge, anticipated to reach a formidable $54.4 billion by the end of 2030. Growing at a steady CAGR of 14%, this sector is fuelled by innovative product segments like Keypad Locks which are expected to exhibit a notable 13.9% CAGR, thereby reaching an impressive $24.1 billion by the same year. The evolution of security protocols and a higher emphasis on smart and automated homes and commercial spaces have driven unparalleled growth in this sector. In particular, the United States holds a substantial share of the market, estimated at $5.6 billion as of 2022, while China is not far behind, forecasted to expand at a 13% CAGR, leading to a $9.2 billion market size by 2030. This growth is indicative of the massive transformation in the security landscape where digital innovation paves the way for enhanced safety and convenience. Other geogra
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- ADT Reports First Quarter 2024 ResultsGlobeNewswire
- ADT Names Jeff Likosar as Chief Financial Officer [Yahoo! Finance]Yahoo! Finance
- ADT Names Jeff Likosar as Chief Financial OfficerGlobeNewswire
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