2020 Year's Analysis of the Global Smart Lock Industry's Market Status and Competition Pattern
Release Date:2020-12-06 20:30:27
2020 Year's Analysis of the Global Smart Lock Industry's Market Status and Competition Pattern

In recent years, the global smart door lock technology has developed rapidly and the market scale has continued to expand. With the increasing maturity and development of smart lock related technologies, face recognition, mobile phone unlocking, iris unlocking, and Internet of Things technologies have been born. The functions of smart lock products And applications will be more abundant and diversified, and will further promote the synchronous development and high integration of smart locks and smart homes in the future.              

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    The industry has entered a mature stage of development                                                       App lock for android  

    Yale successfully created the Yale cylinder lock in 1865. Until 1971, the microcontroller and microprocessor used in the field of smart homes were born. The initial stage of the development of the global smart lock industry ended and the industry entered a growth period. After years of development, the global smart lock industry technology has gradually matured, and the smart lock industry has entered a mature stage of development driven by 5G.                                                 


    The global smart door lock market exceeds USD 1.6 billion

    As consumers increase their use of smart home technology, smart locks have become an important device. According to data released by Statista, the global smart lock market reached approximately US$420 million in 2016 and US$1.28 billion in 2017. By 2019, the market size of smart locks reached US$1.62 billion, a year-on-year increase of 24.62%

    China's market penetration rate is not as good as Japan, South Korea, Europe and America, According to data released by the National Lock Industry Information Center, China’s smart door lock penetration rate in 2019 was 7%, while South Korea’s penetration rate was as high as 70%, European and American countries’ penetration rate also reached 50%, and China’s smart door lock market penetration rate was low. There is huge room for growth.                                                  Finger app lock   
    The United States is the world's largest market for smart door locks 
    A higher percentage of single-family homes and consumers' greater interest in smart home automation or security services have made the United States the largest market for smart locks by far, while consumers in other regions have different priorities. In Western Europe, temperature control is more important, and smart locks are usually not integrated into smart home services. In South Korea, smart home solutions installed by SK Telecom, Korea Telecom or LG U-Plus in multi-dwelling units usually have shared entrances equipped with commercial-grade electronic lock systems. In recent years, with the maturity of smart lock technology and the improvement of market awareness, China has become a global leader in the field of smart locks. Regardless of product form, function, or number of brands and companies, China has led most countries in the world.  

    At present, the main sales areas of global smart locks are concentrated in South Korea, Japan, Europe, America and China. From the perspective of market penetration rate growth, China's smart door lock penetration rate is growing the fastest. In the apartment and commercial residential market segments, App lock new  China's smart door lock penetration rate is expected to surpass Japan and South Korea.                                                

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