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Brief analysis of the smart lock market development

  • source:HUNE
  • Date:02/22/2019

With the continuous maturity and wide application of IoT, cloud computing, big data and other technologies, and the influx of capital, intelligent home has developed rapidly and become an emerging industry. As one of the representative products in the intelligent home industry, the smart lock has great development potential. In 2017, the output value of smart lock exceeded 1.4 billion dollars, and the market size was close to 8 million smart locks. It is estimated that the market size of smart lock will reach 40 million in 2020.

smart lock market development

Smart lock is a typical IoT system. The whole system is composed of perception layer, transmission layer and application layer. It includes components such as smart lock, intelligent home gateway, APP and cloud service. The transmission layer and application layer are the existing Internet technologies, which are relatively mature and stable. About perception layer, user identity authentication methods mainly include fixed password, temporary password, fingerprint, palm, face, RFID, NFC and APP. Near-field access technologies mainly include WIFI, bluetooth, Zigbee, 433Mhz and 315MHz.

Smart lock is a kind of lock which improves on the traditional mechanical lock. It is a lock that is more intelligent and simple in terms of user safety, identification and management. Broadly speaking, fingerprint lock, password lock, bluetooth lock, APP lock and WIFI lock are smart locks.
According to the research data, about 8 million smart locks were sold in 2017, and the industry's total output value exceeded 1.4 billion dollars, which has doubled on the basis of 2016 and is expected to double again in 2018. By the end of June 2018, the penetration rate of smart door locks in 400 million households in China is around 5%, and the penetration rate of 30 million operated rental apartments is around 10%, which means huge space for future development.

unlock automatically smart lock system
By 2020, the annual sales volume of smart locks in China will exceed 40 million sets, and the market scale will exceed 5.8 billion dollars. 2019 and 2020 will be 2 golden years for the development of smart lock. By 2022, the penetration rate of smart locks in 400 million households in China will reach 35%, reaching the level in Europe and America in 2018. The penetration rate of apartment terminals will exceed 50%. APP lock, WIFI lock, bluetooth lock, card lock and keypad lock will appear more and more frequently in our life.

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