Smart Door Lock Annual Report: Five Highlights for 2023---Part 1
In recent years, various industrial policies introduced at the national level have provided a favorable environment for the development of the smart lock industry, supporting and promoting the high-quality development of China's smart lock industry. In the rising stage of the industry, coinciding with the development trend of smart homes, as a new force in smart homes, a new blue ocean of smart door locks has been formed. In the past few years, the emergence of smart door locks has brought consumers higher safety, convenience, and intelligent experience. The Chinese smart door lock industry has made significant development and has grown into a popular category.
At present, the intelligent door lock industry in China is in the early stage of development, with characteristics such as low penetration rate, high growth potential, and great market potential. Its huge market space has attracted more players to enter, and the popularity of the capital market further proves the broad prospects of China's intelligent door lock industry. The year 2023 has come to an end, and driven by various favorable factors, the Chinese smart door lock industry has maintained a stable expansion trend in market size.
AVC Consumer Electronics Business Unit will summarize the Chinese home smart door lock market in 2023 from five dimensions and predict the market for 2024.
Scale section: The demand form is improving, and the market is steadily growing
In 2023, engineering projects in the real estate industry gradually resumed work, and projects with delayed delivery began to gradually realize delivery. The industry ushered in a wave of housing delivery, reaching a new high in nearly five years. At the same time, the scale decline of intelligent door lock supporting projects in China's refined decoration market has narrowed, and the supporting rate has significantly increased for five consecutive years. Moreover, with the popularization of the concept of smart homes and the pursuit of intelligent living by consumers, the demand for smart door locks has also increased.
According to AVC's overall data, the retail sales volume of smart door locks for household use in China reached 18.7 million sets in 2023, a year-on-year increase of 3.6%. Among them, online channels account takes up nearly 35%, which is a key driving force for the increase in the scale of all channels. The main reflection is that the retail volume of online channels is 6.533 million units, a year-on-year increase of 19.0%; under the influence of fluctuating low prices, the retail sales scale reached 7.27 billion yuan, a year-on-year increase of 10.3%.
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