Smart door lock industry trends

According to the latest report from the authoritative research organization Luotu Technology, the total omni-channel sales of smart door locks in China in 2024 reached 17.47 million sets, a slight decrease of 3% from the same period last year. Although sales have declined slightly, as an entry-level product for smart homes, the market performance of smart door locks has become an important indicator for observing the real estate industry.

1. Market sales and share

The sales volume of smart door locks fluctuated in 2024, mainly affected by the overall environment. However, the industry still maintains a good trend. It is worth mentioning that the C-end market surpassed the B-end market for the first time in 2024 and became the main sales force. Specifically, the C-end market accounted for 54.6%, an increase of about 12 percentage points year-on-year, while the B-end market fell to 44.1%, a year-on-year decrease of 14.4%. The online market has become an important channel for the sales of smart door locks. In 2024, the online omni-channel sales volume was 7.72 million sets, and the offline retail volume was relatively small.

2. Price and Competition

Price competition in the smart door lock industry continues to intensify, with the average price of online channels falling from 1,301 yuan in 2021 to 913 yuan in 2024. The average price of traditional e-commerce platforms has dropped particularly significantly, down 8.7% year-on-year to 1,046 yuan, while emerging e-commerce platforms represented by Douyin and Kuaishou have stabilized at a price of 749 yuan. Behind the price war is the combined effect of multiple factors such as the conduction effect of the real estate industry, channel changes, technological iterations, and capacity expansion.

Market competition presents a "two-faced" situation. The head brand camp continues to expand its market share. At the same time, more than 170 brands have left the market due to lack of core competitiveness, mainly concentrated in copycat brands and OEM manufacturers. The industry concentration has increased significantly, and the combined share of the TOP4 brands has increased by 7 percentage points from the previous year to 36.8%.

3. Technology and Development Trends

The smart door lock industry is undergoing a transformation from a single security device to a smart home hub. In the future, biometrics and Internet of Things technologies will accelerate innovative applications, and aging-friendly transformation and whole-house smart integration will also become new hotspots. It is expected that by 2025, the smart door lock market will show three major development trends: C-end consumption continues to grow, B-end demand gradually stabilizes, biometrics and Internet of Things technologies accelerate innovative applications, and aging-friendly transformation and whole-house intelligence integration become new hotspots. Annual sales are expected to rebound to 18 million sets, achieving a slight increase of 3%.

4. Overseas market expansion

Facing the stock competition in the domestic market, leading companies have set their sights on overseas blue oceans. The penetration rate of smart door locks in overseas markets is less than 3%, and product iteration lags behind domestic ones by more than two generations. Chinese companies are seeking new growth poles by establishing overseas branches, deepening localized operations, and optimizing supply chain management, focusing on emerging markets such as Southeast Asia, the Middle East, and Latin America.