Frost & Sullivan releases the '2022 China Smart Home and Smart Door Lock Industry Research Report'

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The smart home market in China has evolved from a single-device-centric phase to an interconnected phase centered on scenarios. Future upgrades in cutting-edge technologies are expected to drive the industry into a fully intelligent stage.In the smart product phase, smart home products are centered around the product itself. Devices receive signals through sensing technology and make judgment feedbacks to achieve intelligent control. However, with the enrichment of product categories and the interoperability of different communication protocols, smart homes are now centered around scenarios, applying Internet of Things technology to achieve interconnection and interoperability among various smart devices. In the future, artificial intelligence technology will help the smart home industry enter a fully intelligent stage, providing timely and intelligent services centered around users.

Smart door lockIt refers to a comprehensive product that combines electronic technology, integrated circuits, and electronic components, integrating multiple identification technologies. It possesses intelligent characteristics in terms of recognition, security, and management. Relying on serial port Wi-Fi modules, smart door locks can achieve user interaction with the lock body through diverse biometric methods such as fingerprints, faces, and irises. Currently, smart door locks have been widely applied in scenarios such as residential housing, office buildings, smart campuses, smart parks, and smart hotels.

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The upstream manufacturers of the smart door lock industry chain focus on hardware configuration and technical services, providing a good software and hardware foundation for the development of smart door lock manufacturers.The upstream participants are providers of various electronic components, hardware parts, and cloud services. They mainly supply intelligent door lock manufacturers with hardware facilities such as communication chips, camera modules, and hardware accessories, as well as technologies such as biometrics and cloud platform services. The midstream intelligent door lock manufacturers, based on the basic inputs provided by the upstream and relying on their technical accumulation and understanding of application scenarios, provide professional products and services to the downstream. As a core link in the industrial chain, intelligent door lock manufacturers have strong bargaining power and mainly sell smart door locks to users through engineering channels, online retail, offline retail, and other distribution methods.

The downstream end-users of smart door locks mainly cover B-side users primarily consisting of engineering clients and C-side users focusing on home applications.The downstream user group has differentiated needs for smart door lock products and services. Smart door locks can be categorized into mass-market, mid-range, and high-end products based on price, features, and functionality. Low- and mid-range smart door lock products already possess mainstream intelligent functions, and the price difference compared to high-end products lies in materials, detailed craftsmanship, exterior design, etc. Among them, C-end users have diverse demands for smart door lock products and have higher requirements for performance and design compared to B-end products. B-end users have greater needs for remote unlocking, unified permission management, etc., and their price expectations are higher than those of C-end users.

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The intelligent door lock market in China is in a stage of explosive growth, with the overall market size expected to exceed 40 billion yuan in the next five years.According to the market size data of smart door locks in China calculated based on 2022 as the base year, the smart door lock market in China showed a slight upward trend under the impact of the pandemic on market channels and demand. By 2022, the market size had reached 19.35 billion yuan. Based on the recovery of downstream market demand and its becoming more rational, the successive introduction of favorable policies, and the continuous development of emerging technologies such as the Internet of Things, it is predicted that the market size of smart door locks in China will show a more significant increase, with an annual compound growth rate of 15.7% from 2023 to 2027.

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The migration of data to the cloud has driven the iterative updates of smart door lock products, thereby increasing their penetration rate in the door lock market.Data on the cloud provides a complete set of data access configurations and task operation monitoring through convenient synchronization or integration of batch, real-time, multi-source heterogeneous data. This effectively ensures the stability and controllability of data access. As smart homes gradually penetrate, data on the cloud can promote the implementation of technology where data uploaded to the cloud allows remote unlocking, realizing a cloud-based function that combines anti-theft devices with the internet. Therefore, relying on artificial intelligence technologies such as the Internet of Things, chips, and biometrics, smart door locks will deeply integrate with data on the cloud for sustainable development.

The downstream new demand will accelerate the research and development of smart door locks with the iteration of cutting-edge technologies, and personalized product innovation will continuously drive industry penetration.With the increase in per capita disposable income and the transformation of consumer groups, personalized products that cater to consumer needs will become an important competitive force in the market. Unlike traditional consumer groups, emerging consumers consider factors other than function, quality, and price when purchasing smart door locks, such as the style design and target user group of the smart door locks. Therefore, catering to consumer trends and enhancing product capabilities have become the core trend for companies to highlight their competitiveness, further promoting the continuous penetration of the smart door lock industry into different consumer groups.