Smart locks installed in over 12 million US homes
The rapid spread of smart locks in the US means they are now installed in over 12 million homes.

Today, Parks Associates released a whitepaper promoting the adoption of smart locks in the US and the reasons why they are so good.

“The majority of front door locks installed in the U.S. are mechanical, but an increasing number of exterior locks are being replaced by door locks,” said Jennifer Kent, vice president of research, Associates at Park.

“As connectivity becomes a de facto requirement to remain competitive, value creation will work in new feature sets and applications. Manufacturers must continuously innovate and explore innovative strategies to bring products to market quickly.”

Here are the reasons why property managers and owners in the US find locks attractive:
However, Park Associates cautions that smart product lifecycles have historically been shorter. Security updates should remain a priority – especially for a product like a smart lock – but the general push for change is constant.

“Feature innovations such as biometric authentication, integrated video cameras, voice control through smart speakers, and integration with home delivery services just keep coming,” added Kent.

“Manufacturers are trying to keep up, but the fragmented nature of the space and the lack of a mature supply chain can hinder the expansion of this market.”