The rapid proliferation of smart locks in the US means they’ve now been installed by over 12 million households.
Parks Associates released a whitepaper today highlighting the adoption of smart locks in the US alongside the reasons why they’re so desirable.
“The majority of residential door locks installed in the US are mechanical, but an increasing number of exterior locks are being replaced with smart door locks,” said Jennifer Kent, Vice President, Research, Parks Associates.
“As connectivity becomes a de facto requirement to stay competitive, value creation moves to new sets of features and applications. Manufacturers must engage in constant innovation and explore new strategies to take products to market quickly.”
Here are the reasons US property managers and owners are finding smart locks appealing:
However, Park Associates warns that product lifecycles for smart products have historically been shorter. Security updates must remain a priority – especially for a product like a smart lock – but the general pressure to keep innovating is constant.
“Feature innovations, such as biometric verification, integrated video cameras, voice control via smart speakers, and integration with home delivery services, just keep coming,” Kent added.
“Manufacturers try to keep up, but the fragmented nature of the space and the lack of a mature supply chain may be depressing this market’s ability to scale.”
The full whitepaper can be found here (registration required)
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