Hot Market? Residential Electronic Locks

This article is an interesting read on the emergence of residential smart locks opening up a new market for 'access control'.

A residential lock sunshine pumper Kwikset Director talks about how development of wireless networks, BLE / NFC, and home automation have converged at the right time to make electronic access appealing for residential buyers.

I can agree with that part - products like Kwikset's KEVO and the proliferation of Z-Wave/Zigbee devices make it clear that home automation is no longer expensive, obscure, and just 'high-end'. Smartlocks routinely cost less than $230 per lock, a pricepoint that seems approachable by many - at least among those willing to pay ~$250 for a thermostat.

However, the wheels come off the article after that point. Even the title "Unlocking New Revenues With Electronic Locks" suggests that dealers have a vast new market to tap into for installs and service. This is just pure bunk in my opinion, as those products are aimed at the DIYer, not the installer channel.

What do you think? Are residential smartlocks changing dealer's target markets?

I agree

I actually do, our core business is in commercial security, however we started selling DMP home automation about two years ago, in the past year there have been some pretty big advancements on the software side of the technology, that have made is a great solution. More and more customers are jumping on-board and paying the monthly rate. If it’s looked at as a peace-of-mind system, meaning you can control your locks from your phone and not handout keys or passcodes to every contractor that comes into your home, then it sells.

Thanks for the feedback, John.

Noting that DMP is a traditional 'channel' brand, it is interesting to read this. Are those customers 'high-end' residential?

Yes, almost everyone who ends up purchasing the service and locks are in more expensive homes.

I have also seen more interest with very small business (ice cream shops..etc). Don't get me wrong, this isn't a huge market. But it is there. Because we're already selling these people security systems we can see the benefit. A lot of people want access control but aren’t necessarily willing to shell out the cash for one, nor do the need one. This is a good solution for those customers. And it’s certainly not a replacement for real access control as it isn’t all that reliable and is very limited.

No, it is a different demographic and segment. I do have the Yale Real Living on my door attached to my Revolv instead of into my Honeywell security system. RMR is the keyword for dealers. No RMR in these new devices.

As the smarthome market continues to emerge, we are having more installers and suppliers become resellers of our products. Plus, many in the AirBnB/VRBO and apartment management are looking to smartlocks to manage properties.