What’s Driving Demand for Smarter Home Security? Answers in New Market Report | Digitized House

What’s Driving Demand for Smarter Home Security? Answers in New Market Report

Available as a free download, the new "Smart Door Locks Report 2018" offers key insights on smart home security. Image: ASSA ABLOY.

Home security is getting more intelligent: that’s one conclusion of a new report by consultancy IFSEC Global and door opening solutions provider ASSA ABLOY, which examines results from a specially-commissioned smart home customer survey. This comprehensive report—entitled “Smart Door Locks Report 2018”—is available as a free, 12-page download. The report interprets the newly-collected data and presents fresh insights from leading industry figures.

According to the survey results, 61% of households now claim to own at least one smart home device or system. Precisely what they choose seems driven by thrift or security, rather than just convenience or entertainment. Smart energy devices, home monitoring and CCTV systems, intruder and smoke alarms, and smart door locks are more widely adopted than smart entertainment and smart kitchen appliances.

Smart door locks benefit from this demand, as well as from an existing robust business model for home security provision.

Unlocking the Unfamiliar

But how much do consumers really know about the features and functionality of smart door locks? The survey suggests significant, basic gaps in market knowledge.

The new report from consultancy IFSEC Global and ASSA ABLOY interprets latest data on today's smart home market. Image: Digitized House Media.
The new report from consultancy IFSEC Global and ASSA ABLOY interprets latest research data on today’s smart home market and delivers key insights. Image: Digitized House Media.

A surprising 42% of those surveyed were unaware they can control a smart door lock from a smartphone, for example. We no longer need a physical key; the “device we are carrying” can easily replace it.

Many leading smart door lock models offer this feature, delivered by a combination of smartphone-embedded wireless technology like Wi-Fi or Bluetooth and a mobile app. Yale’s ENTR® lock is just one.

“Smartphone operation is absolutely key to the newest generation of smart door locks,” says Omer Sagi, director of business development, smart door locks, at ASSA ABLOY EMEA, who sell the ENTR line of locks Europe-wide.

“A couple of swipes on a smartphone screen is all it takes to unlock your front door or share a digital key for our ENTR smart lock—with family or anyone who needs access. It’s just as easy to revoke the key instantly when you choose, also from your phone.”

Despite a wealth of features offered by the latest smart door locks—remote and location-based locking/unlocking; voice activation; timed access; and integration with smart camera and lighting systems—most people still have limited knowledge of their capabilities. 

Adoption rates will continue to rise as knowledge grows. Better market education has a big role to play.

Untapped Potential for Smart Door Locks

If homeowners wish to remotely manage property access for friends and family, smart door locks like the ENTR oblige. Keyless entry can work in a number of ways. You can let in guests remotely via an app, send them a virtual digital key, or provide a temporary or single-use PIN to unlock the door.

This dispels common concerns about sharing physical keys—or hiding them under the doormat. We cannot be totally sure where a metal key ends up, and have no way to track or cancel it once it’s been “lost in the wild.”

Consumers appear more enthused when made aware of the extra features smart door locks offer, and the services they make possible. For example, 92% of respondents like the idea of delegating access rights for family members. Large proportions were more likely to invest in a smart door lock if it could manage access for family (80%); parcel delivery (79%); or cleaners, carers, cat sitters, and the like (75%).

Holiday Rentals Growing Rapidly

ASSA ABLOY research published in 2017 forecasted continued rapid growth in the European holiday rentals sector at 5.8% CAGR. The sector also attracts major interest in smart door locks from both sides of the supply/demand equation: service providers—landlords, agents, and homeowners—as well as guests.

A smart door lock is a simple way for an agency to offer round-the-clock check-in and check-out, without creating extra work or staff costs. Airbnb, in fact, insists properties offer check-in without person-to-person key handover before they qualify for Business Travel Ready status. Almost three-quarters of homeowners who responded to the survey suggest they would be more likely to invest in a smart door lock if renting out their property on a short-term basis.

From a visitor’s point of view, the benefits are obvious. The smartphone is already an essential travel companion, a “remote control” for their trip. It’s a boarding pass, a credit card, a travel guide, photographic memories, a postcard home… so why not a door key, too?

The 12-page “Smart Door Locks Report 2018” offers much more about this fast-moving sector, including a detailed look at consumer attitudes to cybersecurity and willingness-to-pay for smart door locks and associated smart services. The full report is free to download here.

More About This Topic: 

About ASSA ABLOY

ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. The Group has 47,500 employees and annual sales of EUR 7.9 billion. ASSA ABLOY has the market’s largest range of smart door locks, sold across the EMEA region under brands including Yale, Mul-T-Lock, TESA, KESO, Vachette, and FAB.

Thomas Schulz
author
Thomas Schulz is the EMEA Marketing & Communications Director for the Digital and Access Solutions unit of ASSA ABLOY. Thomas is based in Berlin, Germany.

Related Articles