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Giants gather, why hasn't the smart lock market made a ace in the market?

by:FUYU lock     2021-10-17
At present, the smart lock market is very hot. Some people call that the red sea has arrived, and some say that it is growing savagely. However, data shows that the market penetration rate of smart locks in my country is only 5%, and the industry is a real blue ocean. However, the fighting in this blue ocean is extremely fierce, with both cross-border giants and rising stars. According to the 'Market Outlook and Investment Strategy Planning Report of China's Smart Home Equipment Industry' released by the Qianzhan Industry Research Institute: Up to now, there are about 1,300 smart lock companies and more than 2,800 brands in the country, and so many players still have not beaten For benchmarking enterprises, the market is chaotic. For consumers, the convenience of smart locks stimulates their willingness to purchase, but the frequently exposed safety hazards hinder purchase behavior. Recently, the search index for smart locks released by Baidu shows that in the three years from 2016 to 2018, the search popularity of smart locks has continued to rise. Behind this is not only the increasing attention of consumers to smart locks, but also the understanding of users about products and industries. The degree is very low, and relevant information needs to be supplemented by learning through the Internet. At present, it is not only the lack of understanding of smart locks by consumers, but also the lack of relevant industry standards. There are problems such as serious product homogeneity, large price differences, and no leading companies. The smart lock companies on the market have a diverse structure, including traditional mechanical lock companies to expand their business, Internet companies' offline layout, home appliance brand additions, and innovative companies focusing on smart locks. As a brand new thing, all entrants have no absolute advantage. Competitors standing on the same starting line often choose different operating models. The fast-growing industries are most prone to chaos, because the market is immature and consumer awareness is low, and companies can make quick money in many ways. According to industry insiders, many current smart locks are taking the same path as counterfeit mobile phones. The core components such as circuit boards all rely on procurement, and they only produce one shell before they are launched on the market. It is understood that some circuit board suppliers have annual shipments of 1 million pieces, while the output of the all-smart lock industry is only 8 million. It is not difficult to imagine how many companies in this industry are using this method. To be sure, this method is low in production cost and quick in quantity, and it is indeed a shortcut to make quick profits. However, a large number of low-quality products flow to the market, constantly touching the bottom line of consumers, and the result is a low reputation in the entire industry. Unlike copycat mobile phones, the quality of mobile phones has nothing to do with personal safety, while smart locks with poor security will bring risks to family property and personal safety, as well as affect the living experience. In addition, the giants who entered the game across the border did not put too much energy in the smart door lock market. Most of them adopted the OEM model, and the products were not produced by themselves or developed independently. Whether it is a home appliance company or an Internet giant, everyone has become popular in the IOT market. As the first hurdle of the home Internet of Things, smart locks have become a battleground. However, most companies have no previous experience in the production of security products, and are unwilling to pay too much for this. Putting OEM products on their own channels for sales has become the unanimous choice of everyone. The development speed of smart door locks in my country has far exceeded expectations. After more than two years of madness, the industry will also usher in a reshuffle period. Like counterfeit mobile phones, most companies that make quick money will also quickly die out. In the end, the ones left behind are companies that devote themselves to product research and development and focus on improving services. The survivors may be giants deploying IOT, or they may be small and beautiful innovative companies. As long as the products can withstand the test and the service can keep up with the market demand, they may become the final winner in the smart door lock industry.
Professional custom door lock also understand that when you're working with custom door lock product, it's important to understand that quality of lock manufacturing always matters.
To understand how efficiently works, go to Fuyu Door Lock Manufacturers for more information.
Making a few technical tweaks to the way you structure and distribute lock manufacturing could be the difference between an engaging, thought-provoking product and a perfunctory one.
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