Securing Tomorrow’s Homes

By: Dwight Dumpert*, Senior Director, Product Management at Resideo

For years, I’ve been passionate about smart home cameras and video sensing technologies, but it was a moment thousands of miles away from home that truly solidified their importance in my life.

During a business trip, I found myself in a hotel room when a push notification from my video doorbell caught my attention. With a sense of urgency, I checked the app and was stunned to see two firefighters on my front steps, one of them carrying an axe. Panic threatened to set in until I remembered the two-way talk feature.

As I engaged with the firefighters, I learned that a passerby had heard the sound of a smoke alarm coming from my home and promptly dialed 9-1-1. With the situation unfolding in real-time, the firefighters were preparing to break into the house when I intervened. Through the app, I guided them to a hidden key, allowing them to enter and assess the situation.

A potentially catastrophic situation averted, all thanks to the power of smart home technology. Following that incident, my family and I became staunch advocates for video doorbells and smart home devices – and see the value a professionally monitored, life-safety solution can offer.

This personal experience underscores the transformative impact of smart home devices on our daily lives. Recent insights from the Electronic Security Association (ESA) and Parks Associates reveal a surge in popularity for connected cameras and video doorbells, aligning with heightened post-pandemic concerns about home security. As demand for residential security solutions continues to rise, it’s essential for security businesses to stay abreast of trends and innovations in this rapidly evolving landscape.

The Rise of Smart Security Solutions

The aftermath of COVID-19 has prompted a notable shift towards a new normal, underscoring the heightened consumer preference for smart products that afford control over homes, possessions and even pets. According to Parks Associates, nearly 40% of U.S. internet households have embraced some form of security solution. Smart cameras and video doorbells have some of the highest adoption rates, with 14% of U.S. internet households reporting to own a video doorbell, and 13% owning a smart camera per ESA data commissioned by Resideo.

Projections from the Wall Street Journal indicate a substantial increase in the home security camera market, with an estimated value of $30 billion by 2030, boasting a robust 19% annual growth rate. Globally, data from a Statista 2021 study shows smart security cameras had the highest penetration rate among smart home security devices worldwide, and penetration is expected to climb to 7.1% by 2026.

Manufacturers are responding to this rising demand by enhancing the quality and features of products and developing new security innovations to meet the evolving needs of consumers.

Packages, Pets and Proactive Security Solutions

Aiding the surge in e-commerce are package thieves. After a survey in October 2023, Security.org estimated that these “porch pirates” had run off with more than $8 billion in merchandise over the previous year and that 17% of Americans had a package stolen in the previous three months. In a 2022 Package Theft Annual Report from Security.org, package theft affected 49 million Americans.

Security manufacturers have responded with innovative features, including flashing lights, sirens and integration with other smart devices. A video doorbell or an outdoor security camera can catch potential package thieves before they reach the front door and offer a complete view of what’s happening around a property. When specifying devices, consider personalized and customized security solutions based on individual customer needs, considering factors like package theft, porch pirates and specific crime trends in the area.

The pet ownership market is another significant growth area for smart security solutions. According to the 2021-2022 APPA National Pet Owners Survey, 70% of U.S. households own a pet, equivalent to 90.5 million homes. The Wall Street Journal notes an increasing number of Americans are incorporating home security solutions not just for safety measures but also to actively monitor and engage with their pets.

Smart home solutions, such as cameras and robot vacuum cleaners, elevate pet monitoring by detecting cats and dogs, enabling users to command the robot to find their pets and offering a video feed for real-time check-ins when they are away from home.

Consumers also seek devices that seamlessly integrate into their homes. The Resideo ProSeries Platform enables users to receive alerts and interact with their security system from multiple touchpoints, offering a heightened level of accessibility. By empowering users to manage their security, dealers can enhance customer peace of mind and provide a proactive approach to home safety.

Essential Resources in Home Safety

Security professionals play a crucial role in ensuring the effective operation of smart home security products. Thus, it’s vital to invest in continuous education and training regarding product updates, new technologies, installation techniques and changing security threats. Manufacturers continually innovate to meet smart home product demands, making it essential for security businesses to stay abreast of opportunities and trends to remain competitive.

With the continuous evolution of the video and security industry, introducing new services and enhancing product features becomes crucial for offering better value propositions, supporting rate increases and ensuring sustained revenue growth. By consistently adapting to consumer needs, staying informed about market trends, partnering with manufacturers and incorporating innovative technologies, security professionals can position themselves as leaders in the ever-evolving smart home security industry.

*Dwight leads product management for video solutions and works closely with the product team to expand the company's video portfolio and capabilities. Dwight has more than 30 years of experience in product management, business development and strategy roles in the video, intrusion detection and condition monitoring industries. He has an extensive track record of driving innovation in ecosystems, machine learning and video analytics.

Dwight holds a Bachelor of Science in Physics from the University of Nebraska-Lincoln and a Master of Business Administration from the University of Oregon.

Originally published in Residentialsystems.com and re-posted with permission.