What are the major factors leading to the demand for the smart lock industry?
Author : kumar shrey | Published On : 30 Jan 2024
The smart lock market is a rapidly developing segment of the smart home industry, which lets homeowners remotely manage access to their homes utilizing tablets, smartphones, or other smart devices. These locks utilize different technologies like Wi-Fi, Bluetooth, or Zigbee to link to an existing wireless network of a home, and can be managed via mobile apps or integrated with other smart home platforms.
Some famous features of smart locks can view a log of who has entered and left the home, revoke or grant access to specific individuals, and receive notifications when the lock is utilized. Many smart locks also feature keyless entry, letting users unlock the door utilizing a fingerprint, code, or facial recognition. In addition to this, according to the research report of Astute Analytica, the global smart lock market is growing at a compound annual growth rate (CAGR) of 10.4% during the forecast period from 2023 to 2030.
The major factors leading to the demand for the smart lock industry are: –
Enhanced Technology
As technology continues to develop, smart locks will evolve even more convenient and secure. The smart lock industry is continuously growing and enhancing, propelled by advancements in technology and transforming consumer demands.
As the demand for secure, suitable, and efficient home management continues to expand, so does the requirement for more refined and developed smart lock technology.
Improved Security
Smart locks offer various advanced security features like remote access control, biometric authentication, and tamper detection.
In the future, smart locks are anticipated to enhance their security features by combining developed technologies like multi-factor authentication, biometrics, and encryption. Biometric recognition like facial recognition, fingerprint scanning, and iris scanning will deliver an extra layer of security for homeowners.
Multi-factor authentication, which incorporates something the user knows, something the user is, and something the user has, will further improve the security of smart locks.
The usage of encryption technology will ensure data is transmitted between the device and the lock of the user, stopping hacking and unauthorized access.
Energy Efficiency
Some smart locks have features that lower energy consumption, making them more environmentally friendly.
Smart locks may utilize more refined and energy-efficient technology to function. For instance, they may include low-power modes and be powered by long-lasting batteries or other sources of energy like solar power.
Also, the communication between the smart home system and the lock may be optimized for efficiency to lower power use during the transmission.
Integration with Smart Home Systems
Smart locks can be combined with other smart home devices, like lighting, security systems, and thermostats, to deliver a connected and seamless experience.
Smart locks have been growing in recent years, and one area of focus for advancement is integration with smart home systems. In the future, people can anticipate noticing more seamless integration between other smart home devices (smart lighting, security cameras, and home automation systems) and smart locks.
This will allow homeowners to manage their locks via a central platform, letting them control their entire home security system from one suitable location.
By enhancing integration with smart home systems, smart locks will deliver a more user-friendly, streamlined experience for homeowners, making it easier for them to maintain their homes protected and secure.
