Godrej Locks Expands Digital Locks Portfolio With a 100% 'Made in India' Digital Lock, Spacetek

/ -- As part of its focus on premiumization of locking solutions, Godrej Locks, the 122-year-young leader in the locks segment, launched Spacetek, a new age 100% 'Made in India' digital lock. Spacetek is the latest hi-tech and aesthetically designed home safety solution from Godrej Locks. It is packed with technologically advanced features like 360-degree finger print recognition, spy code, privacy mode, low battery indicator, external power bank charging, volume control, break in alarm among others.

As per Kenneth research, smart door locks market in the country is predicted to reach USD 652.04 million by 2023, rising its way up from USD 75.19 million in 2016. Adoption of smart locks is increasing due to rapid infrastructure development & expansion of corporate sector. The aspirations of the urban population coupled with increased focus on improving home safety is also driving the adoption of advanced solutions like digital locks. This is a phenomenon observed around the world.

Godrej locks witnessed 13% CAGR growth in its digital locks segment between FY 2015 to FY 2019. The company has also increased the share of digital locks in its product mix. In addition to its existing range of Advantis digital locks, Spacetek is the latest offering from Godrej Locks which is made in India, and designed for the world. Spacetek is manufactured completely in India by Godrej Locks with a combination of engineering, technology and applications, packed with space-age functions that are simple to use.

Commenting on the launch of Spacetek, Shyam Motwani, EVP and Business Head, Godrej Locks, said, "Godrej Locks is the pioneer of unique locking solutions that has protected Indian homes for many years. Our new innovation, Spacetek, will cater to the household's preference for improved home safety along with design and technology. We have ensured that Spacetek is not only made in India, but also uniquely designed to improve home aesthetics. With a potential market size of USD 652.04 million by 2023, smart locks represents a tremendous opportunity for growth. Godrej locks is committed to expand its digital locks category by introducing more innovative solutions which will be category game-changers in India."
About Godrej Locks
Godrej Locks is a business unit of Godrej Locks & Architectural Fittings and Systems which is part of Godrej & Boyce Mfg. Co. Ltd