China vs. South Korea: Which country leads in the smart lock industry?
In the past, South Korean smart locks enjoyed dominance in the Chinese market due to their high penetration rates and technological leadership. However, in recent years, China’s smart lock industry has risen rapidly, not only dominating the domestic market but also showing strong global competitiveness.
1. Market Capacity: China’s Smart Lock Market Holds Infinite Potential
South Korean Smart Lock Market:
As the country with the highest global penetration rate for smart locks, South Korea’s market started early and has matured over time. However, due to the limited size of its land and population, the overall capacity of the South Korean smart lock market is relatively small. Despite its high penetration, the growth of new market demand is limited and mainly relies on replacement markets and some new residential construction needs.
Chinese Smart Lock Market:
In contrast, China’s smart lock market represents a vast blue ocean. With continuous economic growth and rising living standards, smart locks—key products for enhancing home security and convenience—have seen rapidly increasing demand. According to statistics, China’s smart lock market has surpassed 20 million units in production and sales, and this number is still growing. With its enormous population and ever-upgrading consumer demand, the Chinese smart lock market offers vast development potential.
2. Penetration Rate: South Korea Leads, But China’s Growth Is Remarkable
South Korean Smart Lock Penetration Rate:
South Korea’s smart lock penetration rate exceeds 70%, a figure that leads globally. This is thanks to government support for the smart home industry, as well as the high acceptance of new technologies and products among the South Korean population.
Chinese Smart Lock Penetration Rate:
While China’s smart lock penetration rate is currently under 20%, its growth rate is much faster compared to South Korea. With the continuous maturation of smart lock technology, decreasing prices, and increasing consumer awareness, China’s smart lock penetration rate is expected to grow rapidly in the coming years.
3. Product Functionality and Craftsmanship: China Leads in Innovation
South Korean Smart Lock Products:
South Korea’s smart lock products have consistently maintained high standards in both functionality and craftsmanship. Products such as Samsung’s sliding smart locks and fully automatic electronic lock bodies have long been models for Chinese smart lock brands to emulate and learn from.
Chinese Smart Lock Products:
Today, however, China’s smart lock industry has surpassed South Korea in terms of product functionality and craftsmanship. The fiercely competitive Chinese market drives continuous innovation. From visual peepholes and multi-camera technology to diversified unlocking methods such as finger-vein recognition, face recognition, and smart home integration, as well as CNC precision craftsmanship, Chinese smart lock products have continuously broken new ground, leading the world.
4. Development Prospects: China’s Smart Locks Are Expanding Globally
South Korean Smart Lock Development Prospects:
Although the South Korean smart lock market is mature, its future growth relies more on expanding into international markets due to the limited domestic market size. However, facing strong competition from China, South Korean smart locks may face pressure on their international market share.
Chinese Smart Lock Development Prospects:
China’s smart lock industry is not only flourishing domestically but is also actively expanding into international markets. Leading brands such as Dessmann, Kaadas, LOKO, and EZVIZ have established a presence in multiple countries with notable success. Additionally, brands focused on the overseas market, such as SwitchBot by Wuan Technologies and Eufy by Anker Innovations, have ranked among the top sellers in several countries and regions. China's accelerated international expansion is not only enhancing the global competitiveness of its smart lock industry but also paving the way for the global development of Chinese smart home products.
In summary, while South Korea’s smart lock industry was once a model for China, today, China has surpassed South Korea in multiple aspects, including market capacity, product functionality and craftsmanship, and development prospects. With its massive market size, constant product and technological innovation, and aggressive international strategy, China’s smart lock industry is becoming a global leader. In the future, the global smart lock industry will increasingly focus on China, and Chinese smart locks will continue to lead the development trends of the global industry.