A favorable regulatory climate for smart lock adoption has been created due to customers' high purchasing power and growing safety concerns, particularly in essential infrastructure and household applications. For instance, over 12 million homes in the U.S. have smart locks installed due to their rapid growth.
KEY MARKET INSIGHTS
The global smart door lock market size was valued at USD 2.13 billion in 2022 and is projected to grow from USD 2.49 billion in 2023 to USD 8.21 billion by 2030, exhibiting a CAGR of 18.6% during the forecast period.
The global Smart Lock Market in terms of revenue was estimated to be worth USD 2.14 billion in 2022 and is poised to reach USD 3.9 billion by 2027, growing at a CAGR of 12.9% from 2023 to 2027. The new research study consists of an industry trend analysis of the market.
In the future, this may no longer be a problem, and smart locks could be the solution! Smart locks could soon integrate smart camera technology into the device, as well as be primed for PIR motion detectors, night vision capabilities, wide-angle HD cameras, and two-way audio for remote communication.
If your lock is installed correctly and it has the newest firmware, hacking it will be extremely difficult. Unfortunately, criminals are constantly looking for new ways to break into someone's house. It means that house owners and tenants should always be prepared for any eventuality.
Potential For Hacking
While some smart locks remove the threat of lock picking, they may be subject to attempts by hackers to override the entry code that can unlock the door. On the plus side, the system may be able to notify you (and the police) if an unauthorized user accesses the system.
Does a Smart Home Increase a Home's Value? Smart home technology can definitely add to market value. Appraisers make what they call “adjustments” when they compare tech-enabled homes with similar but tech-deficient houses. Smart homes command higher prices and may be easier to sell as a result.
Smart locks, security cameras, and voice assistants are only a few examples from the list of technologies that have recently grown in popularity among homeowners. Adding technology to a home can significantly increase its value.
The good news is that experienced burglars hate smart security and smart locks. As a result, they would much rather target the 75% of homeowners who have no home security system whatsoever.
The global smart home market size was valued at $80.21 billion in 2022 & is projected to grow from $93.98 billion in 2023 to $338.28 billion by 2030.
The global smart home market size was valued at USD 80.45 billion in 2022 and it is projected to reach around USD 581.85 billion by 2032.
Quality smart locks come with the same safety features as traditional locks, only with the added protection of: Required logins. You must have an account and password to access your smart lock's features. Encryption.
With that in mind, most smart locks last for about 6 to 12 months on a single set of fresh batteries or a fresh charge. Wi-Fi locks can be an exception to this rule, though, often lasting a few months at a time before requiring a change of batteries.
With a smart lock, you no longer have to worry about forgetting your keys or creating spare keys for other users. Smart locks allow you to lock and unlock the door through your smart lock's keypad or smartphone without a physical key.
Some smart locks, as well, might be fairly easy to break into if they are poorly made and not sold through a reputable company. A safe smart lock will have all of the built-in safety measures of a standard lock in addition to safety measures in place to prevent hacking.
However, most smart locks have backup batteries that kick in during a power outage, so they'll continue to work even if the power is out. And even if your smart lock doesn't have a backup battery, you can usually still open it manually with a key or override code.
How many times can I re-key my lock? Unlimited amount of times. All you need is the Smarkey Security tool.
Smart homes are energy-efficient, customisable, and convenient; however, they have downsides like high cost and internet dependence.
Smart-locks can work in different ways. These locks can use different types of authentication mechanisms such as biometric sensors, key fobs, mobile apps, or PIN codes to verify the identity of the user. However, like any other digital device, smart-locks are vulnerable to cyber-attacks.
These additions provide even more security and convenience to your day by letting you know when someone is at your door or when someone has unlocked the door. Are Smart Locks As Safe As Traditional Locks? Yes, smart locks are as safe as traditional locks.
Keyless security lock
The best alternatives to Lock Smart are PERI Duo Case, Fido, and OnlyKey. If these 3 options don't work for you, we've listed a few more alternatives below. What do you think of Lock Smart?
Smart locks cost more because they are simply more secure. Some smart locks and digital locks come with an alarm system to keep out intruders. These type of locks alerts you when there is a breach in security with a built-in alarm that makes loud noises or alerts you through your phone.
Easy Access
Some smart locks can even be programmed with proximity detectors so that the door automatically unlocks as you approach it. Smart locks are an excellent option for those who have mobility issues.