Despite the relatively high cost, 2 million smart door locks will be sold by 2021, according to a new study by Parks Associates.
Annual sales from the devices will increase from $207 million this year to pass $357 million within five years, with the adoption rate increasing more than 75% from this year.
However, half of consumers view smart door locks and smart video doorbells as too expensive, according to Parks Associates, pegging the average price of a smart door lock at $220 compared to non-connected locks for $80 to $100.
From the article "Smart Door Lock Sales Heading To $357 Million" by Chuck Martin.
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