According to the latest consumer research by Parks Associates, 34% of broadband households in the United States have smart home devices, which is much higher than the 24% in 2018, indicating that the penetration rate of smart home products has been growing steadily in recent years.

According to data from Parks Research, approximately 9% of broadband households in the United States report having at least one smart home lock (approximately 9 million households in total), and approximately 10% (approximately 10 million households) have connected cameras. This makes smart locks and webcams the most popular smart home products after smart doorbells, smart bulbs and smart thermostats.

In 2021, consumers who already own smart home products will drive a large part of the growth in the ownership of smart home products. In 2020, as buyers add new categories of products or buy more devices they like, the average number of devices owned by each household with at least one smart home device will increase from 6.8 devices to 7.4 devices. The category of smart home equipment products will continue to maintain a slow and steady growth.

Overview of smart lock market

Nearly half of smart door lock users buy smart door locks as their first smart home device-this proportion is compared to other popular devices. The adoption of smart door locks continues to drive strong multi-channel sales efforts and continuous product innovation. Every year between 13 million and 15 million external door locks are sold to broadband households in the United States, and about 15% of them are smart locks. Retail constitutes the highest channel transaction volume, accounting for 43%, and security dealer’s rank second. In addition, consumers report that nearly two-thirds of smart door locks are self-installed.

Most door locks installed in the United States are mechanical door locks, but smart door locks are replacing more and more single-family residential exterior locks. Smart door locks and related whole-building access control systems have promoted the recent acceleration in the adoption of smart apartments, and several major production builders now include them in standard specifications.

Functional innovations such as biometric verification, integrated cameras, voice control through smart speakers, and integration with home delivery services help to increase the awareness and value of smart door locks. Increased awareness triggers sales in retail, security, homebuilder and system integrator channels

In the past few years, smart door lock solutions have grown steadily among the core enthusiast group, but there are also obstacles that hinder wider and faster adoption. Although self-installation continues to grow, device settings are the main problem for nearly half of new users of smart home devices. They report difficulties in initial setting of smart door locks. Other pain points include data security, privacy issues, and short battery life.

One of the advantages of entering the market later is the ability to take advantage of consumers’ insights into early product reactions. For example, new entrants can study the reactions of today's consumers to biometric verification and setting questions. In addition, people expect the next generation of smart door locks to have a more beautiful product design, simpler installation, longer battery life, extended application functions and fewer technical problems.