When it comes to locks and the multifamily/smart apartment market, we are in the midst of a "religious war" predicated on two camps, camp 1: safety versus camp 2: software.
On one side, you have the security purest. The security purest comes from a deep background in door hardware, safety, and mechanical knowledge that markets and sells based on high security.
On the other side, you have a technology enthusiast. The technology enthusiast comes with a deep background in software, desire for convenience, customer experience at the center of their decisions, that markets and sells based on cool factors.
Right now, in the market, they are at odds with each other. Who will win?
In my opinion, both. In the end, the winner will be those that deliver both safety and software solutions that are focused on the customer.
Here is where it gets interesting. There is an opportunity right now in all of this for the incumbent lock manufacturers, and current software companies focused on the multifamily market. But it comes with a timeclock. The ones that balance safety and software by prioritizing flexible systems where the end-user can determine what they want from safety and software or produce a product that can automatically respond to the use case or situation will win.
That product is coming.
But the industry continues to dig its heels in versus succumbing to the apparent future by prioritizing the work that needs to get done. In that case, an entity either new to the vertical but from the industry or an entity from outside the industry will fill the void.
The choice is yours. It is going to happen. I would get moving.