Research Nester Reviews the India Smart Door Locks Market to expand at a CAGR of 36 % b... - 0 views
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robertwilliam02 on 05 Oct 18Based on biometric identities, the India Smart Door Locks market has been segmented into face recognition, palm recognition, iris recognition, voice recognition and fingerprint recognition. In terms of market share, the fingerprint biometric recognition has garnered highest share of 94.7% followed by face recognition with share of 3.9 % in 2016. In terms of distribution channel, the offline distribution channel generated the market share of USD 67.7 Million in 2016 and is anticipated to reach USD 550 Million by the end of 2023 expanding at a CAGR of 34%. The online distribution channel is estimated to expand at a CAGR of 45% during forecast period. Further, on the basis of segmentation by end-use industry, the contribution of hotels and hospitals are anticipated to generate business of USD 128 Million in year 2023 as compared to USD 14.3 Million in 2016 whereas the commercial facilities segment is anticipated to expand at a CAGR of 33.95 %. This factor is envisioned to strengthen the growth of smart door lock market in India.