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Smart Door Lock Sales Heading To $357 Million

Despite the relatively high cost, 2 million smart door locks will be sold by 2021, according to a new study by Parks Associates.

Annual sales from the devices will increase from $207 million this year to pass $357 million within five years, with the adoption rate increasing more than 75% from this year.

However, half of consumers view smart door locks and smart video doorbells as too expensive, according to Parks Associates, pegging the average price of a smart door lock at $220 compared to non-connected locks for $80 to $100.

From the article "Smart Door Lock Sales Heading To $357 Million" by Chuck Martin.

Previously In The News

Apple earnings could offer clues on streaming performance

Consumers get a year of the streaming service for free with purchase of a new Apple device. Converting those users into paying customers might be tricky, said Steve Nason with Parks Associates....

Industry Voices—A new generation of data and its impact on traditional players

Among US broadband households, Parks Associates finds that 72% subscribe to at least one over-the-top (OTT) video service, while 46% subscribe to two or more OTT services. Further, 25% subscribe tothr...

The streaming wars are flooding us with TV

Password sharing cost streaming companies about $9.1 billion last year, according to data from the research firm Parks Associates. From the article "The streaming wars are flooding us with TV".

Need help with your TV and smart-home setup? At-home tech support may be the answer.

Patrice Samuels, senior analyst at Parks Associates, a market research company specializing in emerging consumer technology products and services, said demand for traditional technology support, like...

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