Make-in-Vietnam smart locks to compete with foreign models

The smart lock market in Vietnam belongs to foreign enterprises, mainly Chinese, but this is likely to change with the introduction of Make in Vietnam smart locks.

Người Việt cũng làm được khóa thông minh, đẹp chẳng kém Nhật Bản, Hàn Quốc

The smart locks are products of Lumi Vietnam - a startup specializing in the development of IoT (Internet of Things) devices and Viet Tiep, the leading lock manufacturer in Vietnam.

Innoviti locks are made of super hard alloy and are equipped with many intelligent features. Viet - Tiep plays the role of mechanical designer, while Lumi develops and integrates the IoT hardware core.

The line of smart locks is expected to promote digital transformation, creating new products that suit market needs and have higher value.

Unlike conventional locks, users can use fingerprints, codes, cards or mechanical keys to unlock Innovity smart locks.

These Make in Vietnam locks also have many other smart features such as providing one-time OTP password, account decentralization, and virtual battery code mode to prevent others from peeping.

The installation of smart features can be done via a smartphone. Users can look up the unlock/close history, and control access.

According to the manufacturer, the on/off state can be used as an input condition to enable the security rule. When users enter the wrong password more than three times, there will be a notification sent on the app.

Innovity smart lock can become a component of smart home through integration with a central controller.

The system is battery operated with four main batteries and four spare batteries. Each cluster of four batteries can be used for about 12 months. The lock has a Micro USB socket that can be used if the battery is empty, when users can use a portable charger to unlock.

According to Statista, smart locks currently account for over 1% of market share in Vietnam, compared to 60% in developed countries like South Korea and about 12% in Thailand and China.

In the next four years, the smart lock market share in Vietnam is expected to grow strongly and account for about 3% of the total market. This will open up great opportunities for Vietnamese IoT businesses to compete with foreign competitors.

Compared to foreign products, “Make in Vietnam” smart locks have advantages from the prestige of domestic brands and its Vietnamese language interface.

However, local manufacturers will have to solve the problem of price, design and production experience as well as Vietnamese customers’ fondness for foreign goods.

Trong Dat