To Security & Beyond: Smart Homes Get Smarter

Customer demand for smart home security systems grew during the pandemic, and with more integrated conveniences available than ever before, shows no sign of slowing down.

The cloud, AI, more IoT devices, and simple phone apps make it possible for residents to increase security and control many basic home functions — from unlocking doors to watching pets and children to tracking energy use. And smart home product manufacturers are introducing new conveniences every day, smartening up everything from doorbells to garage door openers. Throw a pandemic into the mix, which forced people to do everything from their homes, and the result is big growth in the home security/smart home market: from 28 percent adoption in U.S. broadband households in Q2 2019, to 35 percent in Q4 2021, according to Parks Associates.

“Automation makes life easier by streamlining multiple smart devices through one app, allowing different devices to work together, delivering highly personalized scenes and experiences for home and business owners,” says Anne Ferguson, vice president of marketing for Alarm.com, Tysons, Va. “End users can control everything with one unified platform: their security system, locks, lights, video, thermostat, cameras, garage door, solar, energy, water, audio, and connected car.”

It’s all good news for security dealers and manufacturers, who stand to gain from this boom. According to SDM’s 2022 Forecast, four in five respondents that do residential work reported sales of residential security systems in the past 12 months, with the median sales price of a single-family home security system being $1,200 during that time. And while 48 percent of survey respondents said they offered smart home/home entertainment systems, another 19 percent said they planned to offer, sell, or install them over the next one to five years. What’s more, 75 percent of respondents described the smart home space as “good” or “excellent.”

Read more on sdmmag.com.

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