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The global face recognition door lock market size was USD 737.6 million in 2020. The global impact of COVID-19 has been unprecedented and staggering, with face recognition door locks witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 14.3% in 2020 as compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 844.6 million in 2021 to USD 2,414.2 million in 2028 at a CAGR of 16.2% during the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Face recognition door lock is a smart security solution based on facial recognition technology and other devices such as a camera. The system offers real-time information of the visitor by detecting the face and offers various features such as friends and family data, blacklist options, and instant alerts on smartphones. The growing demand for a smart security solution, smart cities, and smart homes is expected to boost the market growth. Further, with advanced technology integration, the solution providers offer highly accurate detection technology to reduce security risk. This is expected to fuel the demand for a facial recognition-based smart door lock system.
COVID-19 Outbreak to Fuel Demand for Touch-free Security System
The outbreak of COVID-19 has drastically affected the people and the manufacturing industries across the globe. The sudden lockdown has hampered the production units across the countries. Similarly, the manufacturing and production plants of face recognition door locks have suffered during the pandemic. This is due to the disturbance in the supply chain, reduced availability of resources, labor, and staff. Thus, the market has witnessed a lower growth rate.
However, post-lockdown, the supply chain sector observed the industry's re-establishment while driving smart security solutions. The pandemic has surged the demand for touch-free smart security solutions such as face recognition door locks, and smart doorbell, among others owing to the fear of virus transmission. This is expected to drive the growth of the market post-pandemic.
Similarly, various companies focus on developing innovative smart door lock products to mitigate the impact of the COVID-19 crisis on security applications. For instance, in May 2020, ZKTeco launched a smart camera with temperature detection and mask detection techniques, along with smart visible light facial recognition technology. The camera helps maintain the customer's safety at home and is equipped with remote monitoring features. Similarly, other companies are offering contactless and touch-free security systems with facial recognition technology. This is expected to facilitate the demand for facial ID smart door lock systems in the long term.
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Integration of Advanced Technology with Facial Recognition Technology to Fuel Market Growth
The application of facial recognition technology is gaining traction across various businesses due to the growing implementation of face identification-based security solutions. Additionally, the companies are highly investing in offering an advanced and improved version of face recognition technology. With the integration of advanced technologies such as deep learning, the internet of things (IoT), and artificial intelligence, the security system has gained a significantly high accuracy rate in detecting faces. The security solution providers can offer automation, high security, ease of utilization, advanced customization features, and more by adopting advanced technology. This is expected to surge the demand for face recognition door lock systems. For instance,
Increasing Demand for Smart Security Systems to Drive Market Growth
A smart door lock system is one of the integral types of smart security solutions. The high internet penetration, clusters of connected devices, and smart technology adoption boost the demand for smart security solutions for personal and industrial applications. Furthermore, the increasing implementation of technologies such as artificial intelligence, deep learning, and the internet of things propel the demand for smart security solutions due to their accuracy and precision to recognize facial expressions.
With the technological advancements in biometric solutions, the integration of biometrics such as facial recognition, iris recognition, and fingerprint with the face recognition door lock system is gaining popularity. The high accuracy and capabilities of facial recognition technology are expected to surge the adoption of facial recognition-based security solutions. For instance, Austria-based Nuki integrated its smart door lock systems with facial recognition technology. Its facial recognition offers live detection of faces and reduces fake facial prototypes such as photos, videos, or silicone masks. The adoption of advanced technology and 3D solutions of facial ID technique improves the detection accuracy. This is expected to fuel the face recognition door lock market growth.
Low Detection Accuracy Rate to Limit Market Growth
The implementation of facial recognition in door lock systems is gaining traction. However, there are some drawbacks to using facial recognition technology in a smart locking system. The face detection accuracy in the system has yet to reach 100%. This can impact the implementation of facial ID solutions in highly secured areas. Furthermore, the low battery backup, loss of internet connection, facial expression changes over the period, and privacy issues are likely to hamper the adoption of the technology.
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Residential Segment is expected to Dominate
Based on application, the market is categorized into residential, hospitality, commercial, government, other (critical infrastructure, etc.)
The face recognition door lock system in residential applications is expected to showcase significant growth during the forecast period. This is attributable to the increasing demand for smart home solutions across several countries worldwide. Similarly, the rising incidence of burglaries, along with high-security risk in urban areas, is likely to boost the segment’s growth.
The hospitality segment is expected to showcase significant growth during the forecast period. The growing demand for a smart locking system of rooms for tourists and guests in hotels and lounges is likely to foster market growth.
The commercial segment is likely to gain rapid growth during the forecast period due to the increasing awareness for smart security solutions in commercial building providers. The implementation of smart city projects is expected to fuel the demand for these systems in commercial building.
The government segment is likely to experience steady growth due to the increasing adoption of surveillance and security solutions across government buildings.
North America Face recognition door lock Market Size, 2020 (USD Million)
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By region, the market has been analyzed across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
North America is expected to dominate the market share during the forecast period. The increasing adoption of smart homes and smart security solutions is likely to drive market growth in the region. The United States is expected to gain significant growth in the region due to the increasing awareness of face recognition door locking solutions. Furthermore, high investment in advanced technology such as facial recognition is expected to boost the market growth.
South America is expected to experience steady growth during the forecast period. The increasing adoption of smart surveillance across countries such as Argentina and Brazil is likely to drive market growth. The governments across these countries are investing in facial recognition and smart cameras to provide advanced security solutions. This is expected to drive the demand for the facial ID smart door lock system.
Asia Pacific is anticipated to showcase rapid growth during the forecast period owing to the increasing demand for smart home solutions across the region. The cost of doing business, the size of the domestic market, and the proximity of market vendors and customers support business growth in countries such as India, Singapore, and others across the region.
Startups across the countries in Asia Pacific are expected to increase their investment in smart security solutions. For instance, in July 2019, igloohome, a smart access company headquartered in Singapore, invested USD 15 million to launch a suite of smart access solutions specifically for infrastructure and real estate sectors.
Europe is likely to showcase remarkable growth in the global market during the forecast period. Countries like Italy, Spain, Germany, and the UK are witnessing increasing demand for smart home solutions. The region accounts for various leading players of the market across the countries such as the UK, Germany, and France. The increasing adoption of smart and advanced technology such as deep learning, artificial intelligence, IoT, and facial recognition drives the smart security solution demand.
The Middle East and Africa region is expected to showcase a steady spending trend on smart solutions due to the region's ongoing digital transformation under the Saudi Vision 2030. Saudi Vision 2030 is a strategic structure to decrease the country’s dependency on oil, expand its economy, and advance public service divisions such as health, infrastructure, education, and tourism.
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The market in Asia-Pacific has been analyzed, excluding China. The country holds the largest market share of the face recognition door lock market globally. As the market in China is highly fragmented owing to the presence of a large number of local (large and small) manufacturers and providers. Therefore, there are vast variations of pricing of products & solutions depending on features and technology, so it is very difficult to estimate the market revenue for particular products & solutions of the face recognition door lock. However, we have included less information on the country as our RD focuses on the global market and not a specific country.
Companies are Focusing on Offering Advanced Facial Recognition Solution
The key players such as Samsung Group, Latchable, Inc., Xiaomi, Godrej Group, Honeywell International, Inc., Assa Abloy, and ZKTeco, among others, are highly investing in the research and development of facial recognition technology to improve detection accuracy. These companies integrate deep learning, near-infrared technology, among others, to gain improved security outcomes. The key smart door lock players are strategically entering into facial ID-based solutions to offer high-security capabilities. These players are acquiring and collaborating to achieve advanced door lock security solutions.
October 2020 – ZKTeco Co., Ltd. announced new and advanced facial recognition technology for security using deep unconstrained face verification and face anti-spoofing technology. The company aims to offer advanced solutions in the facial recognition security system through its latest introduction.
September 2020 – ZKTeco Co. Ltd. launched Near-Infrared facial recognition to improve access control systems and provide real-time surveillance security. This technology offers more accurate calculations for enhancing the access control system.
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The global market research report highlights leading regions across the world to offer a better understanding to the user. Furthermore, the report provides insights into the latest industry growth trends and analyzes technologies that are being deployed at a rapid pace at the global level. It further highlights some of the drivers and restraints, helping the reader gain in-depth knowledge about the market.
Value (USD Million)
Application; and Geography
According to Fortune Business Insights, the global market size is projected to reach USD 2,414.2 million by 2028.
In 2020, the market stood at USD 737.6 million.
The market is projected to grow at a CAGR of 16.2% during the forecast period.
The residential segment is expected to be the leading segment in the market.
The increasing demand for smart security systems is the key factor driving the market growth.
Honeywell International Inc., Samsung Group, Latchable, Inc., Xiaomi, and Godrej Group, are the market players.
North America is expected to hold the highest market share.
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