Asia-Pacific Digital Home Locker Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 495 Million |
| Market Size (2029) | USD 798.29 Million |
| CAGR (2024 - 2029) | 10.02 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Digital Home Locker Market Analysis
The Asia Pacific Digital Home Locker Market size is estimated at USD 495 million in 2024, and is expected to reach USD 798.29 million by 2029, growing at a CAGR of 10.02% during the forecast period (2024-2029).
Increased use of digital home lockers for household and commercial purposes to protect important documents, currency, and other materials from damage and theft raises the demand for digital home lockers in the Asia-Pacific region. There is an increased demand for digital lockers due to the increasing growth of modular homes and the rising demand for safety lockers with advanced technology, including biometrics.
Factors like the internet's ease of availability in emerging economies like India, China, and Japan contributed to the growth of the digital home locker market in the region. The digital home lockers are integrated with the Internet of Things (IoT) to create connections between objects.
The digital home locker market offers numerous growth opportunities. The increased adoption of artificial intelligence and cloud-based applications increased the market's growth. Collaboration with security experts, technology providers, and banking institutions is an opportunity that supports the market's growth.
Asia-Pacific Digital Home Locker Market Trends
Increased Usage In Residential Sector Drives The Market
Homeowners are more concerned about implementing advanced security systems in residences. Digital home lockers offer protection compared to traditional locks because they have advanced authentication methods and real-time monitoring capabilities. Digital lockers can be operated by a remote control, providing homeowners convenience. The increasing usage of smart home technology has raised the popularity of digital lockers. Homeowners recognized the benefits of smart home technology like digital lockers. Hence, the increased use of digital lockers in the residential sector boosts the market.
India Dominates The Market
Due to the increased technological adoption and rapid expansion of smart homes in India, digital home lockers are growing significantly. Due to the increased customer concerns regarding safety, the region has high spending.
Several digital locker manufacturers are developing new features for digital lockers, and many new start-up companies are introducing new digital lockers to improve safety. Increasing urbanization is also a factor that creates opportunities for digital lockers in India.
Asia-Pacific Digital Home Locker Industry Overview
The Asia-Pacific digital home locker market is fragmented. The manufacturers of digital home lockers focus on changing the lifestyle of consumers by increasing the demand for modular houses with high security where high chances of theft and burglary exist. Thus, there is an increased demand for digital home lockers. CISA, Fire King Security Group, Cannon Safe, Bumil Safe, and Bordogna Group are the major players.
Asia-Pacific Digital Home Locker Market Leaders
CISA
Fire King Security Group
Cannon Safe
Bumil Safe
Bordogna Group
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Digital Home Locker Market News
- April 2023 - Tuchware, a manufacturer of electronic and RFID locks, introduced the smart lock series Xs, which enhances security with the best locking system and ensures advanced protection. This digital locker can be used in homes, hotels, and offices.
- February 2022 - Vivint and New American Funding, the nation's largest independent mortgage companies, became partners to help homeowners protect their belongings. Through the partnership, New American Funding customers were eligible to receive unique and exciting offers from Vivint to safeguard the items. Additionally, Vivint assisted new homeowners in quickly setting up home services like internet, TV, and phone.
Asia-Pacific Digital Home Locker Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Safety and Security of Documents Drives the Market Growth
4.2.2 Facility Of Large Storage Space Drives the Market Growth
4.3 Market Restraints
4.3.1 Complex Registration Restrictions
4.3.2 Poor Resistance To Water And Chemical Damage
4.4 Market Opportunities
4.4.1 Technological Advancement in Digital Home Lockers
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technological Innovation in the Market
4.7.1 Integration Of Internet Of Things (IoT) into Home Lockers
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Electronic Safety Lockers
5.1.2 Non-electronic Safety Lockers
5.2 By Distribution Channel
5.2.1 Brand-owned Retail Unit
5.2.2 Online Shops
5.3 By Geography
5.3.1 Australia
5.3.2 China
5.3.3 India
5.3.4 Japan
5.3.5 South Korea
5.3.6 Rest of APAC
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 CISA
6.2.2 Fire King Security Group
6.2.3 Cannon Safe
6.2.4 Bumil Safe
6.2.5 Bordogna Group
6.2.6 AMSEC
6.2.7 Gunnebo Group
6.2.8 Access Security Products
6.2.9 Ample Electro-Mechanic
6.2.10 Brown Safe Manufacturing*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Asia-Pacific Digital Home Locker Industry Segmentation
Digital home lockers are electromechanical locking systems that perform locking and unlocking operations. Digital lockers can be accessed from anywhere there is an internet connection. The Asia Pacific digital home locker market is segmented into type, application, distribution channel, and geography. The market is segmented by type into electronic safety lockers and non-electronic safety lockers. The market is segmented by distribution channels: brand-owned retail units and online shops. The market is segmented by country: Australia, China, India, Japan, South Korea and Rest of APAC.
| By Type | |
| Electronic Safety Lockers | |
| Non-electronic Safety Lockers |
| By Distribution Channel | |
| Brand-owned Retail Unit | |
| Online Shops |
| By Geography | |
| Australia | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of APAC |
Asia-Pacific Digital Home Locker Market Research FAQs
How big is the Asia-Pacific Digital Home Locker Market?
The Asia-Pacific Digital Home Locker Market size is expected to reach USD 495 million in 2024 and grow at a CAGR of 10.02% to reach USD 798.29 million by 2029.
What is the current Asia-Pacific Digital Home Locker Market size?
In 2024, the Asia-Pacific Digital Home Locker Market size is expected to reach USD 495 million.
Who are the key players in Asia-Pacific Digital Home Locker Market?
CISA, Fire King Security Group, Cannon Safe, Bumil Safe and Bordogna Group are the major companies operating in the Asia-Pacific Digital Home Locker Market.
What years does this Asia-Pacific Digital Home Locker Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Digital Home Locker Market size was estimated at USD 445.40 million. The report covers the Asia-Pacific Digital Home Locker Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Digital Home Locker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Digital Home Locker Industry Report
Statistics for the 2024 Asia-Pacific Digital Home Locker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Digital Home Locker analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
