47% of households planning to purchase a smart lock indicate a keypad is a must-have feature

Innovative smart home products showcased at CES® 2023 focus on simplicity, ease of use, and interoperability. Dozens of companies including ADT, Alarm.com, Essence Group, and more featured new product announcements in the safety and security space. Research from Parks Associates supports the demand for useful and simple features—nearly 50% of households planning to purchase a smart door lock in the next six months indicate that a keypad is a must-have feature.

The international research firm’s Smart Door Lock Market Assessment addresses the growing smart door lock market, with a focus on top brands purchased, installation preferences, and brand loyalty.Rising crime rates and general instability amid the COVID-19 pandemic have caused many homeowners to consider increased security. Currently, 40% of internet households have some kind of security solution at home, such as a home security system, networked cameras, or a video doorbell.

“As DIY setup increases in popularity as an installation method, smart lock manufacturers are developing locks that are easier to install and work with existing door hardware,” said Frank Saldaña, Research Analyst, Parks Associates. “CES this week highlights how companies are focused on simplifying user experiences, including the installation and control process. In addition, manufacturers seeking brand loyalty must also focus on less invasive and sleeker lock designs.”

Parks Associates hosts its annual CONNECTIONS™ Summit at CES today, at the Venetian Hotel, Lando 4304. The event features the firm’s latest research, including information from Smart Door Lock Market Assessment, an analysis of the smart door lock market. Sponsors are Johnson Controls, Connectivity Standards Alliance (CSA), Alarm.com, Electronic Caregiver, Homebase, Ivani, Nice, and Rapid Response Monitoring.

“Affordability and mobile/remote access top the list of important factors for locks and really any smart home products; privacy and quality are also important,” Saldaña said. “Throughout 2023, manufacturers will continue to focus on reducing technical problems and providing great support services.”

About Parks Associates

Parks Associates helps companies identify new opportunities, refine strategy, and accelerate growth in connected technology markets through data-driven insights and industry expertise. With more than 40 years of experience, the firm delivers proprietary consumer and industry research, market forecasts, and strategic analysis that guide business decisions across personal, connected home, small business, and commercial technology ecosystems. Parks Associates supports clients in navigating evolving markets including AI, security, smart home, broadband, entertainment, energy, multifamily, smart buildings, and connected health.

The firm also fosters industry growth and collaboration by convening thousands of leaders each year through its flagship executive conferences, including CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video.  Learn more at https://www.parksassociates.com.

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