This report details new business opportunities for smart-home providers, service providers and retailers.
Until now the humble mechanical lock and key has reigned supreme in our domestic environment. But with the ‘internet of things’ giving consumers unprecedented power to conserve energy, reduce domestic drudgery and optimise their living environment, it’s home security that could be the fastest-growing part of this burgeoning market.
The smart – or ‘connected’ – home market is expected to reach $58.68bn in value by 2020, at an estimated CAGR of 17%, according to MarketsandMarkets.com. Protecting everything from the front door to cupboards and garden sheds, digital locks are sure to play a key role in that growth.
The Smart-Home Security Report 2016: The Growing Market for Smart Door Locks analyses consumer demand for this still immature market.
What kind of functionality do customers want in their smart locks? Would they prefer to unlock their front door with a card or fob, to use a PIN code or smartphone? How much are they willing to spend?
Sponsored by ASSA ABLOY, the report crunches data amassed from a survey of would-be adopters of home-automation products from across Europe, the Middle East and Africa.
ASSA ABLOY owns the Yale brand, a major player in the smart-home market. Under its Smart Living brand Yale develops innovative smart locks, alarms, CCTV sytems and other security products for the connected home.
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