‘Aging-In-Place’ Trend Opens More Opportunity For Smart Lock Sales

People are living longer, and most of them want to do that living in the comfort of their own home. This growing — and growing older — trend means that opportunities for sales of smart locks and other connected devices are also on the rise.

According to the Population Reference Bureau study on “Aging in the United States,”  “the number of Americans ages 65-and-older is projected to nearly double from 52 million in 2018 to 95 million by 2060.” The study says this growth is driven in large part by the Baby Boomer generation. And according to a 2022 national poll on healthy aging conducted by the University of Michigan, “The majority of adults age 50-80 (88%) felt it is important to remain in their homes for as long as possible.” Their goal is to live independently, safely and comfortably in their own home, aging in place.

Said Erik Glassen, Senior Manager, Brand Marketing at Kwikset, “Home automation technology like the smart lock is at the forefront of making aging-in-place a reality for the current generation of seniors. Connected smart locks, like our Home Connect 620, can play an extremely important role in any connected aging-in-place environment, providing seniors, caregivers, and loved ones with complete access to not just the lock itself but also other security systems and connected devices in the home.”

Here are five essential roles that a smart lock can play in accommodating aging in place:

1. Smart locks can provide customized access. Individual access codes can be provided to any authorized people who might need access to the home and its residents. These can be service technicians, such as plumbers or electricians, or they can be healthcare professionals authorized to enter in the event of a medical emergency. Homeowners and caregivers can establish, in advance, who can have access to the home and when they can have it.
2. Smart locks allow the adult children to monitor their elder’s activity. The lock itself can be viewed as a kind of “sensor,” providing information about what is going on inside a home – who has been granted access and when. Locks can be programmed to send out emails and texts regarding who is accessing the home.
3. Smart locks allow the adult children to monitor their elder’s INactivity. If a lock has not been opened for a day or two, caregivers need to recognize this as a red flag. It is a sign that a well-being check could be in order. Also, if the smart lock is determined to be unlocked during the nighttime when the senior is likely to be asleep or at a time when the resident is known to be away from home, the caregiver can remotely lock the device as a precaution.
4. Smart locks can simplify caregiver management and make it safer. With keyless entry, keys never have to be provided to caretakers. What’s more, caretakers such as nurses and housekeepers change over time; with smart locks, when caretakers change, codes can change, so there is never a worry about where stray keys have gone.
5. 5. Smart locks are front and central. Smart locks, when connected to a central hub, allow seniors to set up their home the way they like it with custom smart home scenarios, just before they step inside. For example, residents can program their lock so that every time they unlock the door, the hall light goes on, the temperature goes to a set level, and the shades go up. Multiple actions can be accomplished by simply unlocking the door.

                 “It’s really up to dealers to educate this market about the benefits that smart locks bring to aging-in-place seniors and their families – from providing remote access, to simplifying caregiver management, to monitoring senior activity for peace of mind,” Glassen said. “If dealers want to take advantage of this booming opportunity, the smart lock is a great place to start.”