Smart door locks are becoming increasingly popular as homeowners look for ways to improve the security of their homes. Smart door locks offer a number of advantages over traditional locks, including:
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Remote locking and unlocking:
Smart door lock WIFI can be locked and unlocked remotely using a smartphone app or other device. This means that you can lock and unlock your door even when you are not at home.
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Keyless Entry:
Smart door lock allows you to enter your home without using a key. This is convenient and can also help improve security.
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Access codes:
Smart door lock allows you to create temporary access codes for guests and family members. This is a great way to let people into your home without having to give them a physical key.
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Activity Logs:
Smart door lock tracks who goes in and out of your home. This can be useful for security purposes and can also help you keep track of who comes and goes.
Market trends for Smart door locks
The market for Smart door locks are growing rapidly, with a forecast CAGR of 19.6% from 2023 to 2030. This growth is driven by a number of factors, including:
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Increasing demand for convenience and security:
Smart door locks offer a number of advantages over traditional locks, including the ability to lock and unlock doors remotely, create temporary access codes for guests, and track who enters and exits your home.
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Increasing use of smart home devices:
Smart door lock is an important component of many smart home systems. As more and more people acquire smart home devices, the demand for smart door locks is also expected to increase.
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Technological advances:
The manufacturers of Smart door locks are constantly innovating and introducing new features, such as facial recognition, voice unlocking and integration with other smart home devices.
Popular types of smart door locks
The most popular types of Smart door locks include:
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Fingerprint door lock:
Fingerprint door locks use a fingerprint sensor to authenticate users. Fingerprint door locks are very convenient and secure, as fingerprints are unique to each individual.
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Code lock:
Code lock uses a keypad to authenticate users. Code locks are also very convenient, as they allow you to enter your home without having to use a key.
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Bluetooth door lock:
Bluetooth door locks use Bluetooth technology to authenticate users. Bluetooth door locks are very convenient, as they allow you to unlock your door with your smartphone.
The benefits of using an Smart door lock
Smart door lock offers a number of advantages, including:
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Enhanced security:
Smart door locks can help improve home security by making it more difficult for burglars to break into homes.
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Comfort:
Smart door lock offers a number of convenient features, such as remote locking and unlocking, keyless entry and access codes.
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Peace of mind:
Smart door locks can provide peace of mind by letting you know who is going in and out of your home.
Chart
The following chart shows some of the key trends in the Smart door lock market from 2023 to 2030:
Chart: Global Market Size of Smart Door Locks
Regional Insights
In 2022, North America held the largest market share, accounting for approximately 39% of the market volume. It is anticipated to experience significant growth throughout the forecast period, primarily driven by advancements in smart lock technology. This growth is attributed to the widespread adoption of technology and the rapid expansion of smart homes in the United States. For example, nearly 30% of households with internet access in the U.S. express a desire to acquire a smart lock by the end of 2023. The combination of strong consumer purchasing power and rising safety concerns, especially in critical infrastructure and residential applications, has created a favorable regulatory environment for the adoption of these technologies.
Application Insights
The residential segment held over 63% of the revenue share in 2022 and is expected to maintain its dominance. This is driven by the increasing global adoption of smart homes, new construction projects, and affordability of modern security solutions like motion detectors, door/window sensors, and remote door access. Locks compatible with technologies like Z-Wave, ZigBee, and BLE are gaining popularity, particularly for mass-market residential use.
Hospitality Segment
The hospitality sector is projected to grow at a rapid CAGR of over 23.8% from 2023 to 2030. The industry is swiftly adopting smart locks to address heightened security concerns among guests. Hotels are under pressure to enhance in-room security, driving the adoption of keyless access devices. Leading market players are offering innovative solutions, such as Kwikset's SmartCode 270 Touchpad Deadbolts and SmartCode 260 Keypad Deadbolts, launched in October 2022. These products, available in traditional and contemporary styles, also enhance the hotel's brand value, further promoting their acceptance in the industry.
Conclusion
Smart door locks are a great way to improve the security and convenience of your home. Smart door locks offer a number of advantages over traditional locks, including the ability to lock and unlock doors remotely, create temporary access codes for guests, and track who enters and exits your home. If you are thinking of upgrading your home security, a smart door lock is a good option to consider that suits your home best.