There was a time when people doubted and asked: “Why do we need smart locks when the locks we have are working just fine?” But now, things have changed and people’s perceptions are no longer the same. Such limiting questions are also a thing of the past.
The increasing number of smart homes integrating IoT (Internet of Things) with devices such as Smartphones, Amazon Echo, Google Home, Apple Siri, and other products have changed the traditional environment of homes. Smart products are no longer an option just for the techy types, rather it’s quickly becoming the norm. This increase in acceptance of the latest home security solutions and the usage of smart devices are factors that push the global rise in demand for such products.
In 2018, the global smart lock industry was worth $1.3 Billion and it’s expected to attain a value of $2.7 Billion by 2024 with a CAGR (Compound annual growth rate) of 13% projected up to 2024. This expansion is expected to open new opportunities for companies like igloohome who are fully vested in smart access locking systems and Bluetooth door locks.
The co-founders of igloohome were Airbnb hosts who were frustrated with the difficulty of exchanging keys with the guests. When guests wanted to check in at odd hours, this became even more challenging. Their initial goal was for hosts and guests to get a better experience dealing with the key exchange issue.
They also noticed that managing access is not just a problem that Airbnb hosts experience. It’s a difficulty that most home and property owners face. This was the reason igloohome expanded its products and developed an app to help people in various other market segments with their unique needs.
As a matter of fact, the smart lock company is aiming to move towards a more B2B-centric strategy now. They have an interest in supporting the development of smart cities and for such cities to flourish, smart access will be a vital element. For this to take place, they’re planning for more enterprise solutions and an expansion of their product offerings.
“We support the rise of smart cities and believe that smart access is the bedrock of its success,” said Anthony Chow , co-founder and CEO of igloohome.
igloohome continues to develop an ever-expanding array of innovative technologies for smart access systems.
igloohome products have been rolled out to over 90 countries since and have received the CES Asia 2017 & 2018 Innovation Honoree Award (IoT), the iF Design Award in 2018 & 2019. The Mortise has also been helmed as the 'Best Mortise Lock' by The Wall Street Journal and the Keybox has been featured in The Huffington Post as 'Best Tech Products of CES 2017', and GQ's 'The Best Stuff of 2017'.
Here is a brief review of some of their most prominent items on the market.
Mortise locks require a rectangular pocket (also known as the mortise) to be cut into the door for the lock to fit. One prime benefit with such locks is that the entire mechanic fits "inside" the door, and you'll only see the plate of the hardware and a few buttons.
The igloohome Smart Mortise is igloohome’s premium smart lock, designed for both residential and commercial properties. It comes with 4 modes of access: PIN codes, Bluetooth keys, RFID cards/stickers, and physical keys.
Compared to the Mortise, a Deadbolt has no springs to operate the bolt. It does not automatically return to its original position like the Mortise and can only be operated manually with a key, or a thumb turn from the inside. With igloohome's design, they've kept the panel sleek and minimalistic with a universal aesthetic to fit most decors.
Traditional padlocks are now smarter than ever. You can choose PIN codes that are time-sensitive to ensure your possessions will be kept safe with igloohome's one.
There are numerous similar products in the market today. But igloohome offers time-sensitive access. The individual will get an access code that is only available for a set number of hours. This access can be granted from a remote location as well. The recipient can receive the access code through a message on their phone or some other messaging service - they won’t need to download an app for this. This allows for limited access with long term security.
igloohome has since grown into 13 offices around the world, with over 100 distributors and over 100 integration partners. The smart access company strives to make lives better every day through the use of innovative technologies in their products, and aims to unlock more freedom for everyone to get the most out of every moment.
Their exhibition at CES2020 is supported by Enterprise Singapore.