A smart door lock is a type of lock that integrates electronic, mechanical, and network technologies, characterized by intelligence, convenience, and security. It serves as the locking component in access control systems. With the rise of smart homes, the configuration rate of smart door locks, being a key component, has been steadily increasing, making them one of the most widely adopted smart home products. As technology continues to advance, the types of smart door lock products are becoming increasingly diverse, including new models with facial recognition, palm vein recognition, and dual-camera features. These innovations lead to higher safety and more advanced products, presenting significant market potential.
Diversified sales channels, with online e-commerce driving the market.
In terms of sales channels for smart door locks, the B2B market remains the primary driver, though its share has decreased compared to the previous year, now accounting for about 50%. The B2C market makes up 42.5% of sales, while the operator market accounts for 7.4%. The sales channels are developing in a diversified manner.
The B2B market channels mainly include real estate development and the door fitting market. Among these, the real estate development market has seen a significant decline due to reduced demand, while the door fitting market has grown by 1.8% year-on-year, reflecting the increasing demand for smart door locks in commercial sectors such as hotels, inns, and guesthouses. The B2C market encompasses both online and offline retail channels, with online e-commerce experiencing significant growth. Traditional e-commerce has seen stable growth, while emerging e-commerce channels such as social e-commerce, live-stream e-commerce, and community e-commerce have surged by over 70%, driving the growth in sales of smart door locks.
The configuration rate of smart door locks in fully furnished homes exceeds 80%, making these products increasingly standard.
Smart door locks have increasingly become a standard feature in the fully furnished home market, with a configuration rate reaching 82.9% in 2023, making them the most widely adopted smart home product. New technology products are expected to drive further growth in penetration rates.
Currently, the penetration rate of smart door locks in China is approximately 14%, compared to 35% in Europe and the United States, 40% in Japan, and 80% in South Korea. Compared to other regions globally, the overall penetration rate of smart door locks in China remains relatively low.
With continuous technological advancements, smart door lock products are constantly innovating, offering increasingly intelligent unlocking methods. New products featuring peephole screens, cost-effective facial recognition locks, palm vein recognition, dual cameras, and more are emerging, accelerating the growth of market penetration.
New technology products have higher accuracy, stability, and safety, and meet consumers’ higher pursuit of safety, convenience, and smart life. Their prices are higher than the average price of traditional e-commerce products. As technology costs gradually decrease, the average price of new technology products is expected to gradually decrease, and the product penetration rate will increase, thereby promoting the growth of the overall market penetration rate of smart door locks.
There are many entrants into the industry and the market competition is fierce.
Product ecological construction promotes high-quality development of smart door locks
As the “face” of smart homes, smart door locks will be more important in interconnecting with other smart devices or systems. In the future, the smart door lock industry will move from pure technical competition to ecological competition, and platform-level ecological cooperation will become the mainstream. Through cross-brand device interconnection and the creation of a comprehensive smart home, smart door locks will provide users with a more convenient, efficient and secure life experience. At the same time, with the continuous advancement of technology, smart door locks will launch more new functions to further meet the diverse needs of consumers and promote high-quality development of the industry.
Post time: Jul-24-2024