According to the data of Sootoo Research Institute, 3,500,000 sets of China smart door locks were sold in 2016, and 8,000,000 sets were sold last year. It is predicted that China’s smart door lock industry will grow with the speed no lower than 50% ever year; the total market demands will exceed 30,000,000 sets, and the market scale will reach over RMB 100 billion. Compared to Japan, South Korea and the European and American countries, China’s smart door lock market penetration rate is lower, which is only 2%. From the domestic market, there are about 1.4 billion people and 400 million families in China so it has the huge potential market.

（Source: JJGLE.COM）