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Face recognition door lock Market to Reach USD 2,414.2 Million by 2028; Increasing Adoption of Modern Technology to Surge Demand: Fortune Business Insights™

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Pune, India, March 23, 2021 (GLOBE NEWSWIRE) — The global Face recognition door lock market size is expected to gain momentum by reaching USD 2,414.2 million by 2028. Fortune Business Insights in its latest report, titled, “Face Recognition Door Lock Market, 2021-2028.”, mentions that the market stood at USD 737.6 million in 2020 and is projected to exhibit a CAGR of 16.2% between 2021 and 2028. This is attributable to the increasing adoption of advanced technologies in the development of smart security systems worldwide.

Market to Exhibit 14.3% Growth in 2020

The manufacturing activities of several industries have suffered due to halted operations due to the global pandemic. Moreover, the companies are facing problems such as supply chain disruption, reduced workforce, and limited availability of resources. This has impacted the market to a certain extent. The market is expected to experience a slower growth by exhibiting a CAGR of 14.3% in 2020. However, proactive steps by several companies to restart the industrial operations post-pandemic are expected to bode well for the growth of the market.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/face-recognition-door-lock-market-105039

Market Segmentation:

We have divided the market based on application and region. On the basis of application, the market is segmented into residential, hospitality, commercial, government, other (critical infrastructure, etc.).

  • Based on application, the residential segment held a market share of about 32.7% in 2020 and is expected to showcase exponential growth during the forecast period. This is ascribable to factors such as the growing demand for smart home solutions on account of the increasing demand for smart homes across the globe.

Lastly, on the basis of region, the market is bifurcated into North America, the Middle East and Africa, Asia-Pacific, and South America.

What does the Report Include?

The global market for Face recognition door lock report highlights leading regions globally to offer a sound understanding to the user. Additionally, the report provides detailed insights into the latest industry growth trends and analyzes technologies that are deployed at a rapid pace. It further highlights some of the drivers and restraints, helping the reader to gain knowledge about the market by using several research methodologies.

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DRIVING FACTORS

Increasing Adoption of Advanced Technologies to Augment Growth

In February 2020, SensibleVision, a leading smart door lock provider, announced its partnership with Inuitive to enhance facial recognition-based smart door locks. The companies are adopting advanced technologies such as machine learning, artificial intelligence, and 3D imaging to boost the system’s accuracy rate. The increasing adoption of advanced technologies such as the internet of things (IoT) has led to the improved accuracy rate of the security system in detecting faces. Moreover, using these technologies the companies are developing advanced smart security systems that offer ease of utilization, security, and automation. This is expected to benefit the global Face recognition door lock market growth during the forecast period.

REGIONAL INSIGHTS

North America – The region stood at USD 351.6 million in 2020 and is expected to hold the largest global Face recognition door lock market share in terms of revenue during the forecast period. This is attributable to the increasing adoption of smart homes and advanced security solutions in the region.

Asia-Pacific – The region is expected to experience considerable growth backed by the presence of lucrative opportunities for the companies to establish their business due to huge growth potential in the countries such as India and Singapore between 2021 and 2028.

Europe – The market in this region is anticipated to experience significant growth backed by the increasing adoption of advanced technologies such as facial recognition, deep learning, and others that will boost the adoption of advanced Face recognition door lock systems.

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COMPETITIVE LANDSCAPE

Major Companies Focus on Product Launch to Strengthen Their Market Positions

The market is fragmented by prominent companies focusing on developing advanced security solutions to cater to the growing demand from residential and commercial sectors globally. Additionally, adoption of organic and inorganic strategies by other key players to maintain their presence is projected to bode well for the market growth during the forecast period.

Industry Development:

  • October 2020 – ZKTeco Co., Ltd. unveiled a new and advanced facial recognition technology. According to the company, the technology provides effective security by adopting deep unconstrained face verification and face anti-spoofing.

List of the Companies Operating in the Face Recognition Door lock Market:

  • MD Smart Touch (Melbourne, Australia)
  • Samsung Group (Seoul, South Korea)
  • Godrej Group (Mumbai, India)
  • iView (California, United States)
  • iCreation (Canada)
  • ZKTeco Co., Ltd. (Dongguan, China)
  • Corum Security (Vancouver, Canada)
  • Elecpro Group (California, United States)
  • EPIC Systems (Korea)
  • Bonwin Technology Co (Changzhou, China)
  • igloohome Smart Locks (Singapore)
  • Xiaozhu (China)
  • Brinks Home Security (Texas, United States)
  • Latchable, Inc. (New York, United States)
  • Nuke (Austria)
  • Xiaomi Group (Beijing, China)
  • Techlicious LLC. (New York, United States)
  • Kaadas (Australia)
  • Dessmann GmbH (Stuttgart, Germany)
  • Honeywell International, Inc. (North Carolina, United States)
  • Assa Abloy (Stockholm, Sweden)

Quick Buy – Face recognition Door Lock Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/105039

Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, and Opportunities
    • Emerging Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
    • Global Market Share Analysis and Matrix, 2020
  • Key Face Recognition Door Lock Market Insights and Strategic Recommendations
  • Profiles of Key Players (Provided for 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Face Recognition Door Lock Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
      • By Application (Value)
        • Residential
        • Hospitality
        • Government
        • Other (Critical Infrastructure, etc.)
      • By Region (Value)
        • North America
        • South America
        • Europe
        • Middle East & Africa
        • Asia Pacific (Excluding China)

TOC Continued..

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

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Artificial Intelligence

New CPS Protection Platform: TXOne Networks Unveils SageOne at GISec Global

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TAIPEI, April 23, 2024 /PRNewswire/ — TXOne Networks, a frontrunner in the realm of cyber-physical systems (CPS) security, is set to unveil its groundbreaking CPS security platform, SageOne, at the highly anticipated GISec Global from April 23rd to 25th, 2024. Attendees can find TXOne Networks showcasing SageOne at stand B99 in hall 5. This innovative platform consolidates all CPS security products onto a single, central management platform, promising streamlined operations and optimized threat detection capabilities.

SageOne, aptly named “Wise Man Number One,” serves as a comprehensive management console providing a holistic view of the CPS attack surface within operational technology (OT) environments. By enabling centralized control of TXOne’s three core product lines – Stellar for endpoint protection, Element for security inspection, and Edge for network defense – SageOne facilitates integrated OT security throughout the lifecycle of protected assets, ensuring robust threat detection and response mechanisms.
Key features of SageOne include:
CPS Attack Surface Management: Prioritizing operational security by offering clear visibility into the overall security posture of OT environments, SageOne identifies security focal points, illuminating asset information and security controls.Integrated Lifecycle Protection: Through centralized management, SageOne simplifies cybersecurity governance and fosters collaborative defense. It serves as an abstraction layer, facilitating contextualization and consolidation of data across multiple products, offering tailored, task-oriented consoles for executives, security personnel, and plant leaders.CPS Threat Detection & Response: SageOne aggregates security insights from various solutions to scout for potential risks, enabling early caution and response to both known and unknown threats.SageOne’s foundation rests upon advanced components, including Threat Intelligence, Behavior-Based AI Analytics Engines, Compliance Framework, Data Visualizer, and Ecosystem Integrator, ensuring comprehensive protection and seamless integration of different tools and technologies.
With its focus on analyzing unexpected behavior and unknown threats, SageOne enables the identification of suspicious events through cross-telemetry analysis within the OT-native XDR engine. This amalgamation of advanced technologies and user-friendly interface ensures the protection of critical infrastructures.
For rapid threat response, SageOne issues early warnings of suspicious behavior and orchestrates cross-telemetry analysis for CPS Threat Detection & Response. Integrated Lifecycle Protection ensures the security of devices and systems throughout their service life, contributing to great cost efficiency.
TXOne Networks reaffirms its commitment to CPS security and continuous advancement in OT security through SageOne. Visit TXOne Networks at the GISec Global from April 23rd to 25th, 2024, at stand B99 in hall 5.
For further updates and information, follow TXOne Networks on the blog, Twitter, and LinkedIn.
About TXOne Networks:
TXOne Networks provides OT security products ensuring reliability and security in industrial control systems and operational technology environments through the OT Zero Trust methodology. Collaborating with leading industrial manufacturers and critical infrastructure operators, TXOne Networks offers practical and business-friendly approaches to OT defense. Its network and endpoint-based products secure OT networks and mission-critical devices in real-time with high security depth.
Website: www.txone.com 
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Artificial Intelligence

Imparta Launches World’s First Sales Methodology-Aware AI

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LONDON, April 23, 2024 /PRNewswire/ — Imparta Ltd, a global leader in performance improvement for customer-facing teams, has announced the release of i-Coach AI, the world’s first sales methodology-aware AI.

Over the past 18 months, AI has reshaped many industries and professions, with sales being no exception. Yet, generic LLMs such as ChatGPT are poor at coaching, and at selling. Even data-driven AI insights are only as good as the qualitative frameworks that underpin their observations.
i-Coach AI is the first expert Sales AI Coach that follows a proven, structured coaching process, and is fluent in all aspects of sales, account management, negotiation, customer success, commercial and business acumen, sales management and sales leadership. It is powered by Imparta’s award-winning, research-based Agile 3D methodology and complete, modular skills library.
Richard Barkey, Founder and CEO of Imparta, said “GenAI is one of the few truly transformative technologies in our lifetimes, and one that no sales organisation can ignore. We are genuinely excited to introduce i-Coach AI, an enterprise-grade coaching tool for salespeople, managers and leaders. I’m not exaggerating when I say that I’m using i-Coach AI myself, to think through strategies around specific clients, and indeed for the whole business. This tool is designed to integrate seamlessly across various sales ecosystems and tech stacks, and provides targeted, IP-aware coaching and practice simulations of customer conversations, at multiple points of need.”
As part of the launch, Imparta will host a webinar on April 23rd and May 2nd, hosted by Richard Barkey, titled ‘Leveraging Sales Methodology-Aware AI at Scale in the Enterprise’. Click here to learn more.
During this webinar, Richard will announce details of i-Coach AI and Imparta’s upcoming course for sales teams: Leveraging AI for Sales. He will also set out a range of essential use cases that we are rolling out across Imparta’s agile sales ecosystem and across the tech stack.
About Imparta
Imparta is a global leader in performance improvement for Sales, CX and Leadership. Our modular ecosystem includes three elements, developed through 25 years of research and experience with leading global organisations: Agile Sales Methodology, Agile Change Process and AI Sales Technology.
Whether you need to plug a gap in your existing training, provide self-paced learning, or build an entire Sales, CX or Leadership Academy, get in touch at [email protected].
Website: www.imparta.com
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Contact details: Adam [email protected] Tel: +44 (0) 20 7610 8800

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Innodisk Unveils Groundbreaking MIPI over Type-C Solution for Enhanced AI Vision Applications

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TAIPEI, April 23, 2024 /PRNewswire/ — Innodisk, a leading global AI solution provider, announces the launch of its industry’s first MIPI over Type-C solution. This exclusive technology overcomes traditional MIPI cable lengths limitations, allowing embedded camera modules to be positioned farther from the system. This expands the possibilities for visual AI applications, particularly in smart manufacturing and smart cities, enabling the seamless integration of high-quality vision systems into these evolving environments. 

The increasing popularity of vision-based applications across industries highlights the critical need for high-quality, reliable camera solutions. As computer vision becomes a cornerstone of AI development, the demand for industrial-grade cameras continues to surge. Innodisk recognizes this need and has developed the MIPI over Type-C Solution to address the challenges faced by vision system integrators and developers.
Innodisk’s MIPI over Type-C technology extends the connection distance to 2 meters or more, surpassing the previous 30 cm cable length limitation while maintaining high performance. It enables seamless conversion to a custom USB Type-C interface through a tailor-made adapter board and offers cost-effectiveness compared to SerDes solutions.  Additionally, this solution boasts successful deployments on NVIDIA Jetson, Intel x86, and ARM platforms, with Innodisk actively investing in R&D to ensure ongoing compatibility across various platforms, accelerating the deployment of edge AI applications for clients.  
Innodisk’s MIPI over Type-C camera module solutions are extensively used in various smart applications. They are revolutionizing industries like smart manufacturing, where AMRs and forklifts benefit from high-quality imaging and extended reach. Similarly, shared mobility applications such as shared bikes leverage these modules for enhanced safety and efficiency. By offering a combination of high bandwidth and longer range, Innodisk’s solution removes cable length limitations, unlocking a wave of new possibilities for smart applications.
Innodisk’s MIPI over Type-C solution marks a significant leap forward, building upon its diverse MIPI camera module portfolio and seamless platform integration. This includes compatibility with NVIDIA Jetson, Intel 12th to 13th Gen, Core Ultra processor, AMD Xilinx, and NXP. As the sole Intel-certified MIPI Camera partner in Taiwan, Innodisk collaborates closely with IPC manufacturers, possessing professional integration capabilities to offer comprehensive support and services to customers. The MIPI over Type-C Solution is poised to redefine the future of vision technology, offering performance, flexibility, and affordability.
For more information, please visit: http://www.innodisk.com
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