Unikey Technologies
Company Overview
Unikey Technologies Inc. (Unikey) is a mobile applications and security services company founded on the concept of bringing today’s wireless, mobile and internet technologies to the access control mass market. By uniquely combining existing technologies, Unikey has developed a proprietary and patented “hands free” Passive Keyless Entry system that can be easily integrated into existing doors.
Product / Service
This first product, the residential deadbolt lock, will have the comforting aesthetics of a traditional deadbolt, use the same thru-hole as the deadbolt it is replacing, be easy to install and intuitive to use. Initially enabled using a Unikey-fob provided with the deadbolt, the Company has also developed a mobile application that can control and manage the lock using Bluetooth technology, which is ubiquitous in Smartphones today. Like passive key technology now available in many cars, the system identifies the homeowner as they approach the door, allowing them to unlock the deadbolt by simply touching the lock.
Target Market
Although Unikey has plans to replace the traditional lock long term, the initial market segment Unikey will directly compete in is the keyless door lock market; this includes products such as keypad and biometric locks. According to Freedonia, the residential keypad lock market within the U.S. was $145M in 2009, and projected to grow to $200M by 2014, this translates into approximately 1.1M and 1.6M units respectively. In addition, almost three times as many keypad locks are sold within the commercial channel. Looking at the entire market opportunity, the mechanical lock market (2012: $22B) and the mobile application market (2012: $17B), represent significant opportunities for the company in well-established markets.
