How much can the smart locks in the trillions of pension market be divided?

HC Security according to Reuters data show that as of the end of 2014, China 60 years old and older population reached 212 million people, 15.5% of the proportion of the total population, the total number of the elderly population will be further growth in 2025 will be more than 300 million people, It will reach 400 million people in 2040.

How much can the smart lock be divided into?

The problem of aging is becoming more and more serious. This is an indisputable fact, which has prompted many companies to test their water care services, such as pension real estate (location), old-age care (nursing), old-age entertainment, old-age daily necessities, pension finance, old-age tourism, etc. The tens of billions of pension industry big cakes are waiting to be cut, the smart lock market is classified from the pension industry, and there is a certain intersection with pension real estate (location) and old-age daily necessities. So, how do smart lock (home) companies get a slice of it? How big is the market size of smart locks?

Smart lock is one of the vertical areas of smart home. It is the first line of defense for smart home security. It is just a market demand. It has such a high growth rate and can be predicted to be obtained from the following areas: hotel apartment, new home decoration, old Housing renovation, rental housing management.

Secondly, according to the “Sampling Results of the Fourth China Urban and Rural Elderly Living Conditions” in 2016, it is pointed out that the proportion of elderly people (elderly couples and elderly people living alone) in the elderly population is 51.3%, of which 51.7% are in rural areas. The smart lock market is currently in the popularization period, combined with another data - "Old Age" survey shows that over 80% of the elderly are reluctant to live under the same roof with their children, hoping to have a personal living space.

In addition, from the “Guangzhou Elderly and Elderly Business Data Handbook 2015” jointly published by the Guangzhou Municipal Office of the Old Age, the Civil Affairs Bureau and the Statistics Bureau, it can be seen that there are nearly 1.5 million elderly households in Guangzhou, accounting for 17.27%, living alone. There are also 125,000 old people, which means that one in every ten elderly people live alone.

125,000 old people living alone, according to two families and one family, there are 62,500 elderly families. If 80% of the households in 62,500 households popularize smart locks, they will bring in sales of 50,000 smart locks, which will average 1,000 yuan per smart lock, or 500 million market capacity. And this is only to predict the market share of smart locks for the “single-stay” elderly families in Guangzhou, so the market for aging smart locks in China will not be less than tens of billions.

How can smart lock companies make smart locks that meet market demands? How to get good use of word of mouth in the elderly population (the general elderly people have some misunderstanding of the smart latch)? Smart lock companies can't just focus on the needs of young consumers, but also on the needs of older people.

The author believes that an old smart lock needs to have the following key elements:

1. Biometric identification. Old people have bad memory, forget to bring keys, IC cards or forget passwords. If it is a pure mechanical lock, electronic password lock, etc., the smart lock with biometric technology is the trend, because the body "password" is portable.

2, easy to use. Most of the elderly's fingerprints are blurred because they cannot be collected and recognized when using the fingerprint device. Therefore, smart locks that are not affected by the surface condition of the finger, such as the finger vein smart lock using finger vein recognition technology, are peeling, light or dry. Wet, etc., does not affect the use. However, when using a fingerprint device (mobile phone or lock), if the fingerprint of the finger is light, dirty, peeling, wet, etc., the fingerprint recognition will be insensitive.

3. Remote management. When the elderly are inconvenient to open the door, whether in the door or inside the house, the child can open the door for the parents remotely through the app or the elderly use the app to open the door.

4. Monitoring management. With the function of opening the door and monitoring the records, the children can monitor the door opening of the parents' homes at any time to find the strange situation at any time.

5. Good security. The elderly living alone do not have much requirements for the appearance of lock products, but safety is an indispensable key requirement. Smart locks that are easily copied and cracked will bring potential safety hazards to consumers. The above mentioned finger vein smart locks, It is a second-generation biometric intelligent lock. Because it is a living body recognition technology, and the vein features are hidden inside the finger, there is no security risk of being copied and cracked.

Smart life is everywhere! Smart lock is the first line of defense for smart homes. As children, we hope to give our parents a safe, convenient and intelligent ageing life! Let them not only have a son (female), but also old locks!

Editor in charge: Zhang Zequn

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