Creating a smarter and more open world with ASSA ABLOY

by | Feb 23, 2024

As Australians embrace smart products into their daily lives more and more, the market is predicted to reach significant highs in sales and growth. ASSA ABLOY Opening Solutions is one of the leading developers of door openings and products for access solutions in homes, businesses and institutions.

Yale Smart Lever - ASSA ABLOY

Product Managers, Ben Tang and Tarek Mostafa of ASSA ABLOY, the global leaders in access solutions recently shared their insights and predictions for Australia’s increasingly smarter living and smarter homes.

“The anticipated revenue in Australia’s Smart Home market is set to reach US$3.7 billion by 2024, with predictions indicating a continued annual growth rate (CAGR 2024-2028) of 8.70 per cent. This sustained growth is expected to lead to a market volume of US$5.2 billion by 2028,” Ben Tang, Product Manager ASSA ABLOY said. 

“With the projected upswing in revenue, rising household adoption, and the average revenue per smart home installation, there is ample opportunity for further development and innovation within this market segment. Australia is witnessing a notable surge in the demand for smart home technology, as homeowners progressively integrate connected devices to improve both convenience and energy efficiency.”

Smart essentials

Among the rise in smart products, smart locks are considered essential in modern homes for a multitude of reasons, says Mr Tang.

“Smart locks provide keyless entry options, eliminating the need for traditional physical keys. Homeowners can use a variety of access methods, such as PIN codes, biometrics, or smartphone apps, making it more convenient and secure. For example, our newly introduced Yale YDM3109A Smart Mortice Lock and YDM7220 Smart Mortice Lock offer customers the option of various door access methods, including a fingerprint scan, personalised PIN code, RFID key tag, or a physical key.”

“Another one of the significant advantages is the ability to remotely control and monitor the lock. Homeowners can lock or unlock doors from anywhere using a mobile app. This is particularly useful for allowing access to guests, service providers, or family members when you are not at home. This gives additional peace of mind that you can unlock doors for people in emergencies,” he said.

ASSA ABLOY Australia is also thrilled to announce a significant development of its business – the expansion of its unique and patented DualDoor™ feature without the need to upgrade lock hardware.

“Now, our locks are even more connected and smarter. With a single command, users can operate both the Yale Unity® Security Screen Door Lock and an extended range of Yale smart locks selling in Australia in an automatic sequence,” Mr Tang said.

“Aside from the benefits of home automation, this system is also much easier to install and much more flexible in networking and grouping of devices than any current system, meaning that it is not only smarter in operation but also significantly lowers installation cost and complexity, making it far more accessible as a solution in the market,” Product Manager, Tarek Mostafa, added.

Sharing is smarter

With smartphones so widely used and accepted as commonplace and essential items, Mr Tang says that they have been key to driving the range of smart products we have today.

“I believe the key factor contributing to the widespread acceptance of smartphones lies in the variety, power, feature richness, and ease of use of applications seamlessly working with smartphones. This makes people feel like they cannot live without their smartphones. The convenience brought by these powerful apps is undeniable. For instance, you no longer need to go to a bank counter to transfer money; instead, a few taps on the screen can make it happen.”

“The slower adoption of smart devices may be attributed to the upfront cost of some available products and how easy it is for customers to use them without facing difficulties during installation or setup. Some people may simply not have had the chance to try smart products. Other smart devices may not offer the same level of perceived utility for everyone. Some smart devices may struggle with interoperability issues or lack universal standards, making it challenging for consumers to integrate them seamlessly into their lives,” Mr Tang said.

“I believe efforts should be made from both sides. As smart product providers, it is essential to consider the end user at every stage of the product development process. This is something we prioritise at ASSA ABLOY – we engage with our customers at each stage of product development to ensure that we create a product that genuinely solves their issues in a cost-effective way.”

Mr Mostafa added that direct exposure to products is another major factor in the smart products market, with many customers being exposed to smart products through their smart devices or via friends and family.

“The other critical factor for increased adoption is simply greater exposure in the real world. As more smart devices are seen in door and window applications, potential customers will see the true value in these products from existing customers,” he said.

“It can be hard to truly appreciate the benefits of a product until it is seen in use through family and friends, so a big part of this is the natural life-cycle that new products must go through. With a greater user base, naturally, there will also be a greater demand for interconnectivity with other devices and software, which will drive the desire for other products to integrate into the smart locks and window actuators. This increased cross-functionality will continue to enhance the value offering and drive demand further,” Mr Mostafa concluded.