The market size is as high as 100 billion US dollars! Smart door locks, surveillance and other security equipment have great potential

Nowadays, people's security awareness is constantly increasing, and various news media reports of social burglary and robbery have further stimulated people's awareness of security precautions. Especially nowadays, there are more and more young people living alone in cities. Driven by the dual drive of safety and convenience, people have begun to choose to use security equipment such as smart door locks.

Data shows that the users of smart door locks are mainly young people aged 25-40. Consumers in this age group are more likely to accept new things in a short period of time and will actively pursue a more technological and quality life.

We can also see from daily life that more and more relatives, friends or neighbors are beginning to use smart door locks, including password or fingerprint door locks, and even homestays when traveling are beginning to use convenient and safe APP door locks.

This type of smart security system has a large market in the world. It is understood that in 2018, the global security market size reached US$275.8 billion.

From the perspective of the global market, the market size of security equipment in Southeast Asia and Latin American countries still has a lot of room for development. Relatively speaking, the market penetration rate of security equipment in European and American countries is relatively high, reaching 50%. Moreover, compared with other regions, the market demand for the security industry in European and American countries is more mature.

China's security market has also developed rapidly in the past 10 years, with a market size of approximately US$1.1 trillion. Data shows that in 2020, China's sales of smart door locks reached 16.4 million sets, a year-on-year increase of 17%.

As consumer demand changes, the smart door lock industry is shifting from extensive and simple competition to a multi-dimensional, comprehensive and refined development approach involving brand, product, quality, service and channel.

The security system is not just about smart door locks. Various monitoring devices are also popular in many markets. After purchasing, people generally choose to install them at home so that they can keep abreast of the safety and dynamics of the elderly or pets at home while they are working. Currently, this series of security equipment has great market potential in many countries around the world, especially in Southeast Asia.

Smart door locks, monitoring and other security equipment have great potential