As of 2024, the size of the global smart door lock market stands at 4.8 billion US dollars, growing at a rate of 19% yearly, as reported by Statista. The key benefit of a smart door lock is the combination of biometric identification and Internet of Things technology – for instance, the false recognition rate of Samsung SHP-DP740’s fingerprint recognition module is just 0.002%. It is much lower than the 4.7% replication and cracking vulnerability of the traditional mechanical key. The security test result shows that the average anti-picking time of the smart door lock is 22 minutes (certified by American ANSI/BHMA standard), while traditional locks can only last for 2 minutes and 30 seconds when being attacked by professional tools (data source: Consumer Reports). Let’s use Yale’s Assure Lock 2 as an example. Its two-factor authentication (fingerprint + dynamic password) system reduces the chance of unauthorized break-in to 0.8%, while burglary cases caused by lost or duplicated keys of normal locks account for 67% of all incidents (FBI crime statistics in 2023).
In terms of user experience, smart door lock has enhanced key distribution efficiency by 90% through remote control function of the App: With the use of August Smart Lock, Airbnb hosts shortened tenants’ check-in time from the original 30 minutes on average to 2 minutes, and temporary password expiration time accuracy achieved the millisecond level. According to a survey by J.D. Power, 78% of users believe that the smart door lock’s automatic locking (with a response time of 0.3 seconds) significantly reduces the likelihood of forgetting to lock the door, while traditional lock users experience an average of 1.2 unlocked door incidents per month. In terms of power consumption, the low-power Bluetooth 5.2 technology reduces the device’s standby power consumption to 0.05W. Its power usage per door opening is only 1/20 that of other electronic locks. Nanfu battery power supply lasts 18 months, six times the key replacement cycle of mechanical locks.
Cost-benefit calculation indicates although the upfront purchase price of intelligent door lock ($150- $500) is 80%-300% higher than traditional locks, its long-term payoff is gigantic. According to the statistics of insurance company Allstate, the annual premium for houses that use smart locks has decreased by 12% to 18%, and the claim rate has decreased by 54%. Let us look at the example of the remodeling project of an apartment in Tokyo in 2021. After the installation of 2,000 sets of intelligent door locks, the property management cost decreased by 37%, and maintenance work orders caused by key loss decreased by 92%. In business, the production cost of room cards in Marriott Hotels decreased from $2.5 per card to $0.03 (cloud virtual key) after installing the Saflok MT-5 intelligent lock, saving more than $1.2 million every year.
Technically, the IP65 waterproof grade of the smart door lock and the operating temperature range of -40°C to 85°C can resist 99% of the bad environments. During the Canadian snowstorm in 2023, the opening rate of the Schlage Encode series was 99.3% at -30°C, while the failure rate of traditional locks due to lock core freezing was as high as 41%. From the network security point of view, models with AES-256 encryption and blockchain key management (e.g., Philips DDL-708) have reduced the percentage of successful hacker attacks to 0.003%, much less than 7.8% of standard electronic locks (Kaspersky’s 2024 report). Additionally, the interconnection between the smart lock and the home ecosystem (e.g., automatically turning on the lights upon opening the door) enables a scene triggering accuracy rate of 98%, which traditional locks are unable to achieve such automatic functions.
Real case proves its innovative value: 5,000 sets of intelligent door locks in the 2024 Paris Olympics’ Media Village achieved zero-contact passage for 100,000 people through facial recognition. The false rejection rate (FRR) was as low as 0.5%, and the efficiency of permission change was 40 times that of physical keys. In the field of people’s livelihood, after a Hangzhou, China community finished installing Huawei smart locks in 2023, quarterly burglary cases dropped from 15 to 0, and the property security response time shortened from 8 minutes to 1.2 minutes. These facts prove that smart door lock has comprehensively outperformed traditional locks in security, efficiency and scalability, revolutionizing the access control standards in homes and workplaces.