From the industry statistics, it can be found that the sales of smart door locks are growing by leaps and bounds from 2017 to 2021. Even though it has been affected by the epidemic in recent years, the sales of smart locks have not been affected by obvious fluctuations. According to the statistics in 2021, the sales of smart locks are as high as 16.95 million units, among which mixon and other leading enterprises occupy a large market share. Compared with 2020, product sales increased by 20% year-on-year! So what is the prospect of smart locks? What is the current situation? Let’s take a look!
What is the prospect of smart locks?
With the development of smart home, smart door lock products have begun to enter people’s field of vision. In fact, the domestic market is relatively unfamiliar with intelligent security as a whole. At first, it was the development of smart doorbell that attracted the attention of the market, and when the camera, AI voice and other elements were added, smart door locks began to be recognized by people.
And while one man guards it, ten thousand cannot force it. As the first level of intelligent security, it is also the most prominent product of intelligent security. The status of intelligent door locks is increasing day by day, and the market is booming and the market is growing rapidly.
Judging from the development of the industry in the past two years, there are many innovations in the design and function of smart locks. Combined with exhibitions and other professional channels, we can find that smart locks have some obvious development trends.
From the current situation of the industry, the status quo of smart locks as smart items has been gradually broken, and more and more smart locks have begun to be equipped with networking functions.
With the advent of the era of mobile Internet, mobile devices such as mobile phones have become necessities in consumers’ life and work. Viewing, managing and interacting with networked smart locks through mobile devices has become a new way to enhance consumers’ product experience.
But at the same time, the requirements for brands are constantly improving. The brand’s application of networking intelligent technology is directly related to the user’s experience when using the smart lock networking function. When the user opens the door lock, other smart home products in the home start to operate after receiving the instruction, without the need for the user to open it separately, which saves worry and effort. Integrating into the smart home system has also broken the ceiling of its development for the smart lock itself, and the smart lock also has more development direction and space.
Prospect analysis of smart lock
The upstream industry of smart door lock industry is mainly hardware and electronic communication components industry, and the downstream industry is mainly for apartment operators, engineering decoration and consumers who need to buy products to replace door locks in stock rooms. At present, in the smart door lock industry, B-end markets such as brand apartments and real estate are still the main force of large-scale shipment in the short term due to centralized procurement and large transaction amount. This is also the market targeted by many new Internet smart door lock enterprises.
In recent years, the government has vigorously promoted the development of artificial intelligence industry, and the deepening of the layout of smart home industrial chain in China will realize technological autonomy and improve the industrial chain of smart door locks. With the increasing diversification of smart home products, the home platform has been built, the communication standards of smart home will be gradually unified, the application scenarios will be gradually expanded, and smart door locks will be connected to more life scenarios.
In the long run, in terms of policy, the new infrastructure and the renovation of old residential areas are expected to form the demand conduction of secondary decoration; On the demand side, the demand for delivery and decoration of goods affected by the epidemic is gradually released; On the supply side, the human-computer interaction performance of smart door locks is stronger, and innovative products such as vein recognition, face recognition and children’s fingerprint locks are increasing. The smart door lock industry has a broad development prospect. It is understood that in the first half of 2020, the sales of smart locks stagnated due to the epidemic situation. According to the data of the National Lock Industry Information Center, there were about 16 million sets in the whole year. Compared with 14 million sets in 2019, it has increased, but the pace has slowed down. With the deepening of market user education and the acceleration of consumption upgrading, the market scale of smart locks in China is expected to reach 75 billion yuan in 2025. Because of its high-end product characteristics, smart door locks are closely related to the consumption level of families and the income level of residents. For East China, South China and coastal areas with relatively developed economies, the acceptance of products is higher and the market consumption is more.
At present, the total shipment of door locks is 20 million sets in 2021, and the online sales volume is 3 million sets. At the current development rate, it is predicted that the whole market will exceed 10% in the future, and the market scale of the whole smart door lock is expected to reach more than 70 billion yuan in 2025.
Market analysis of smart locks;
Regional pattern: Zhejiang has a high production and sales volume.
In terms of the regional competition pattern of smart locks, according to the data of the National Lock Industry Information Center, smart locks are mainly concentrated in Yongkang, Wenzhou, Hangzhou, Shenzhen, Zhongshan and Foshan. Zhejiang Yongkang has the highest proportion of production and sales in 2019, reaching 23% because of its demand for back door factories; Because of its advantages in traditional hardware industry, emerging enterprises, supply chain and so on, Zhongshan, Guangdong, takes the second place in production and sales, and the production and sales in Xiaolan area of Zhongshan account for 22%. In 2019, the sales rankings of major smart locks were: Yongkang, Zhongshan, Shenzhen and so on.
The competition pattern of enterprises: the head enterprises gradually appear.
In terms of the competition pattern of smart lock enterprises, there are many brands in the smart lock industry, but with the development of industry competition, the number of smart lock brands has declined, and the head enterprises have gradually emerged, and the industry pattern has been initially set. According to ZDC data, the Luke brand of Yunding Technology, an Internet brand, is the most popular among consumers. In the ranking of the most popular brands, Luke ranks first with a total of 42.2%. In addition, Xiaomi Mijia smart door lock is second only to Luke in the popularity of Internet brands in 2019; Among Internet brands, Mijia has gained 14.10% of the total with its excellent reputation and product quality, and has become the backbone of cross-border brands of home appliances.
Market Status of Smart Lock
The smart door lock market has indeed entered the fast lane, but it does not mean that it has entered the harvest season. Although the domestic smart door lock market is growing rapidly in terms of growth rate, there is still a lot of room for development in terms of penetration rate. In overseas markets, the penetration rate of smart door locks in developed countries and regions is quite high. For example, in Europe and America, the penetration rate of smart door locks exceeds 35%, while in Japan and South Korea, the penetration rate is as high as 70%. On the other hand, in the domestic market, the penetration rate of smart door locks is far less than 10%, which obviously has not entered the popularization period.
There are many reasons why products are not widely used. In the domestic market, smart security products started late, and until today, they only account for a small share of the smart home market. According to the data of Aowei Cloud, in the smart home hardware market scale in 2020, the share of smart home appliances is the highest, close to 80%, while the share of smart security is only about 10%. In contrast, the volume is still relatively small.
In terms of unification, consumers’ awareness and acceptance of smart door lock products is still slowly advancing. Due to years of use habits, most consumers still trust traditional door locks more and keep a wait-and-see attitude towards smart door lock products; Of course, the high price of smart door locks, which is almost ten times that of traditional door locks, has also become a "roadblock", which makes users discouraged and difficult to learn more.
From the industry point of view, although manufacturers have entered the market one after another, the overall number is not enough. From the perspective of product structure, Xiaomi brand, which started as a smart product, has performed well, ranking first in the industry for the time being. Traditional manufacturers such as TCL and Philips have a small share at present, but there is still potential for development. In addition, the development space of smart door lock products of big brands such as Huawei, Haier and Gree cannot be underestimated.
From the price point of view, the concentration of low-end products and high-end products is low, and the mid-end market is the most competitive area in the market. Why is the competition mainly concentrated in this area? According to the analysis of industry commentators, it is mainly because consumers are not at ease with low-end products, while high-end products are more expensive, and they are more attracted to mid-end products with relatively suitable prices.
What is the prospect of smart locks? Industry commentators concluded that the smart door lock market has indeed entered a period of rapid development in terms of growth rate, but from the overall development situation, there is still a long way to go before the real market outbreak. As far as the current smart door lock market is concerned, the technology and products have been put in place, but they have only begun to be popularized initially, and further market cultivation is still needed, so that more consumers can get in touch with and understand smart door locks and get out of the traditional concept of door locks, instead of seeing the high growth rate of the market, they should first think about "getting a hand" in the market. You know, for the prosperity of the market, long-term investment is necessary.