In 2021, the global touchless door activation market was valued at $3.5 billion and is expected to grow at a CAGR of 7.4% to reach $5.3 billion by 2027.
Chicago, Sept. 20, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, touchless door activation market is expected to grow at a CAGR of 7.4% during 2022-2027. Smart home is a residential space that relies on internet-connected devices for remote monitoring and management of appliances. The most used smart technological products include smart door and access control systems, smart lighting systems, smart security systems, and smart plugs. Thus, the growing demand for smart homes is expected to provide growth opportunities to touchless door activation vendors.
Touchless Door Activation Market Report Scope
Door Type, Technology, Application, and geography
APAC, Europe, North America, Middle East & Africa, and Latin America
Japan, China, India, Australia, South Korea, Germany, France, UK, Italy, Spain, US, Canada, UEA, Saudi Arabia, Brazil, and Mexico
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The sliding door segment dominated the market with a revenue share of 45.93% in 2021. The segment is expected to witness an absolute growth of 59% by the end of 2027.
The infrared sensor segment dominated the market with a revenue share of 32.30% in 2021. The segment is expected to grow at a CAGR of 8.07% during the forecast period.
The industrial & commercial segment dominated the market and is expected to witness an absolute growth of around 54% by the end of 2027.
In 2021, APAC emerged as the largest regional touchless door activation market with a revenue share of 34.42%.
Countries such as Japan, India, China, Australia, and South Korea are major contributors to the APAC touchless door activation market. Factors such as strong economic growth, the surge in construction activities, and rise in disposable income post 2021 are expected to accelerate the growth of the regional market.
The cost of raw materials accounts for a large portion of the overall manufacturing costs borne by vendors. Most vendors focus on procuring high-quality raw materials for manufacturing durable, reliable, and secure touchless doors.
The rapid expansion of commercial facilities such as corporate offices, business parks, and retail stores in emerging markets such as China, India, Singapore, Indonesia, the UAE, and Saudi Arabia will drive the demand for touchless door activation during the forecast period.
The global touchless door activation market is highly competitive with the presence of many public and private companies. Some of the major vendors include BEA, BBC Bircher, GEZE, Hotron, ASSA ABLOY, and dormakaba. These brands have a comprehensive product portfolio and a widespread presence in the global market. The major vendors are adopting innovative technologies to retain their strong market position. Many international players are expected to expand their reach worldwide during the forecast period, especially in the fast-developing countries across APAC, the Middle East & Africa, and Latin America to enhance their market share. Additionally, companies with better technical and financial resources can develop innovative products that could pose a threat to competitor products to render them non-competitive and even obsolete before they can recover their R&D and commercialization costs. Therefore, vendors must develop new technologies and stay abreast with upcoming innovations to have a competitive advantage over other vendors. The existing global players are increasing their investment in R&D facilities to ensure continuous customer-centric product innovation.
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