Keyless Entry - Competitive Landscape 1
The top three competitors in the keyless entry for multifamily buildings industry are Schlage, Yale, and Latch. We have provided our findings on these three companies in rows 1-3 of the attached spreadsheet.
- Schlage, Yale, and Latch are the top three competitors in the keyless entry for multifamily buildings industry.
- Schlage and Yale appear in the top 10 best smart locks.
- However, although Latch is a start-up it has not been left behind. Companies such as AirBnb have hired it to make locks for their new housing experiments.
- Some people might overlook Latch, but after $37 million in venture capital and an unusually long time running in stealth mode, Latch seems primed.
- Schlage's estimated annual revenue is over $500 million.
- Schalge's pricing lies between $95 and $230.
- Schlage joined the Allegion family of brands in 2013.
- Assa Abloy is Yale's parent company. Assa Abloy's annual revenue in 2017 was $73.16 billion in 2017.
- Yale's pricing is between $100 and $300.
- Latch has an estimated annual revenue of $3.5 million.
We began our research by searching for existing lists, reports, and articles with facts, statistics, or case studies on the top keyless entry for multifamily building providers. However, along the way, we encountered several sources that had conflicting theories on who the top providers are. A pre-compiled list of the best keyless entry providers was unavailable. Therefore, we had to sample all the options to determine the top three companies. Moreover, there were no available sources that offered clear data or statistics on keyless entry providers for multifamily buildings.
At first, we were using the revenue of the companies to define the "top" companies. However, as we continued with our search, we found that revenue alone would not be enough to determine the top three companies. This is because that would mean we would have to discredit some companies such as Latch which, although a start-up, is growing very fast and is beating some of the existing companies in coming up with the best smart locks. Therefore, in addition to revenue, we also looked at the growth of the companies, investments received, and how popular they are.
Thus, although we were not able to get the revenue for Yale locks on its own since it is under the parent company Assa Abloy now, we could determine that it is one of the top companies because not only has it been specializing in locks for a very long time, it is also a popular choice with people and its parent company is doing very well.
That is also the same reason for our inclusion of Latch because although its annual revenue is still low compared to the others, it is growing very fast, getting a lot of venture capital investment, and a lot of people have it on their lists of best smart lock products.