DIGITAL DOOR LOCK SYSTEM MARKET ANALYSIS

Key Developments

• In September 2023, Yale Home, a leader in smart home security that protects homes throughout the United States and Canada, expanded its best-selling smart lock collection with the release of the Yale Assure Lock 2 Touch and Yale Assure Lock 2 Plus. The Yale Assure Lock 2 Touch is the brand's first-ever smart lock with a built-in fingerprint reader, allowing users to register up to 20 different fingerprints for effortless access. The Yale Assure Lock 2 Plus is the company's first smart lock to support Apple home keys, enabling users to simply tap their compatible iPhone or Apple Watch to unlock their door. Both new smart locks are available for purchase in the U.S. at ShopYaleHome.com, Amazon, and Best Buy, and offer a range of convenient access options including touchscreen, app, voice assistant, Auto Lock, and traditional key functionalities (with keyed models).
• In April 2023, Huawei, the global technology giant known for its innovative consumer electronics and smart home solutions, unveiled the Huawei Smart Door Lock Series 2.0 at a product launch event in Shanghai. This upgraded version of Huawei's popular smart door lock series offers advanced security features and cutting-edge technologies to enhance convenience and efficiency for users. The Huawei Smart Door Lock Series 2.0 features AI 3D face recognition 2.0, which improves unlocking speed by 20% and enables the door to be unlocked even in low-light conditions. Additionally, the lock incorporates a dual-engine AI fingerprint algorithm, making it easier for children and older adults to unlock the door with their fingerprints. With these enhancements, Huawei continues to push the boundaries of smart home security and convenience with its innovative Smart Door Lock Series 2.0.
• In February 2023, Abode Systems, a leading provider of DIY smart home security solutions, introduced the Abode Lock, an innovative device designed to seamlessly convert standard latch-style deadbolts into advanced smart locks. This retrofit smart lock aligns perfectly with Abode's comprehensive smart home ecosystem, allowing users to upgrade their home security without the need to replace their existing deadbolt. The Abode Lock is compatible with most standard deadbolts, making installation a breeze and enabling users to enjoy the enhanced convenience and security features of a smart lock while maintaining their current setup. With the Abode Lock, Abode Systems continues to offer innovative solutions that cater to the needs of homeowners seeking to upgrade their home security without major modifications.
• In November 2022, SALTO Systems, a leading global provider of electronic access control solutions, unveiled SALTO Homelok - a comprehensive smart access control platform designed specifically for the residential market. SALTO Homelok integrates cutting-edge smart access control technology, cloud-based software, hardware, digital keys, and a robust smart living ecosystem, transforming the way residents access and manage their homes. This solution eliminates the complexities and costs associated with traditional access control systems, offering a modern, user-friendly electronic locking solution that enhances convenience, security, and connectivity for homeowners and property managers. With its global service and support, SALTO Homelok empowers residential living by delivering a seamless, technology-enabled experience.
• In April 2022, Swiftlane, a VC-funded startup headquartered in the San Francisco Bay Area, released a hands-free voice-enabled door unlock feature that allows users to unlock doors, parking gates, and garages simply by using voice commands like "Hey Siri, unlock door". Swiftlane is the only access control company that offers a complete all-in-one cloud-based smart access solution, which includes face recognition, mobile unlock, key card capabilities, visitor and delivery management, and an intuitive admin dashboard. The company's vision is to provide smart access technology that solves real issues in the multifamily industry and enable safer resident experiences while helping owners and managers maximize their NOI.