On July 24th, the Central Financial Channel focused on reporting on the smart lock market, objectively analyzing the current situation of the smart lock market and the huge scale that cannot be underestimated in the future. Let all professionals in the smart lock industry be excited and confident about the future of the industry.

The installation volume of door locks has significantly increased, with over 60% of users considering purchasing

As the entry level industry of smart homes, smart door locks have ushered in a new round of explosion, with significant increases in both installation volume and brand number. According to the 'China Smart Lock Consumer Analysis Report,' 66% of surveyed users stated that they would consider purchasing fingerprint locks in the future, with 'convenience, no need to bring keys' being the main reason.

In the past two years, the development of the smart door lock industry has entered the fast lane, and more and more real estate projects are using smart door locks as one of the standard features when they are delivered. As of now, there are over 1300 manufacturing enterprises and nearly 2800 brands in China's smart door lock industry. This includes traditional door lock manufacturers, traditional security field manufacturers, household appliance manufacturers, and Internet enterprises.

The smart door lock market is chaotic, and industry standards urgently need to be introduced

The Little Black Box incident has sparked a lot of discussion in society. Relevant sources told reporters that the small black box unlocking incident does exist, but it is far less exaggerated than what is rumored online. Many domestic manufacturers have actually done very well. Similar to the development process of the previous wave of domestic mobile phones, the development of smart door locks is currently in a highly competitive and mixed stage. In the market, the prices of smart door locks range from a few hundred yuan to tens of thousands of yuan, and the materials also vary from plastic to metal. Some companies lack research and development capabilities and sacrifice product safety in order to reduce costs. Improved industry standards urgently need to be introduced.

The market space for smart door locks is huge, and installation services may become a competitive focus

In addition to safety, smart door locks also face many challenges in terms of installation and service. According to relevant data, the sales volume of China's smart lock market was 3.5 million sets in 2016 and reached 8 million sets in 2017. It is expected that in the future, the Chinese smart lock industry will continue to grow rapidly at a growth rate of 50%. The total demand of the industry will exceed 30 million sets, and the total output value of the industry will exceed 100 billion yuan.

The market generally believes that the industry concentration of smart door locks is still relatively low, and brand leaders have not yet emerged. In the future, the focus of competition for smart door locks will be on installation and after-sales service. At present, the installation cost of smart door locks is around 200-300 yuan per piece. In addition, the maintenance cost in the later stage is relatively high. If manufacturers do not have complete after-sales service, they will soon face the fate of elimination.