Smart Devices Lock Doors to Secure Connected Homes
As the boundaries between physical and digital spaces blur, the traditional home security landscape is undergoing a digital shift, with smart devices assuming an increasingly pivotal role in safeguarding modern, connected homes.
Against this backdrop, Resideo, a provider of home security systems, recently announced its acquisition of Snap One, a distributor of smart-living technology, in a deal valued at approximately $1.4 billion. Set to finalize in the latter half of 2024, the acquisition positions Resideo to capitalize on the growing demand for integrated smart home solutions, consolidating its presence in the dynamic smart home security market.
“The acquisition will combine Snap One’s capabilities for smart living integrators with [Resideo’s] complementary position in adjacent security products distribution. This cross-category expansion will allow the combined organization to materially deepen relationships with integrators to better serve their customers and expand their businesses,” the company said in an April 15 press release.
The purchase comes at a time when consumers are increasingly embracing smart home technologies. According to PYMNTS Intelligence research, the share of consumers using smart home devices increased sharply in 2023, with voice assistants like Google Home, smart thermostats like Ecobee and security systems like Ring becoming part of users’ everyday routines.
And while these smart home gadgets are mainly valued for their convenience and efficiency, they are being recognized for their role in enhancing home security. In fact, the study highlights a significant uptick in the number of consumers leveraging smart home technology for security purposes. Between February 2022 and February 2023, there was a 31% increase in this usage, with 21% of consumers using smart security systems daily.
However, the proliferation of connected devices has also raised concerns regarding privacy and cybersecurity. In response, the tech industry has mobilized efforts to safeguard consumer privacy and mitigate potential cyber threats.
One notable initiative is the recent establishment of a global cybersecurity standard and certification program for connected devices, backed by the Connectivity Standards Alliance (CSA). This consortium comprises nearly 200 member companies, including major industry players like Amazon, Google and Silicon Labs.
Covering a wide array of smart home devices, including light bulbs, thermostats and doorbell cameras, the initiative sets minimum requirements for IoT devices. Moreover, it streamlines the certification process, providing manufacturers with an all-in-one platform to certify their devices. This ensures compliance with multiple international regulations and standards through a single evaluation, enhancing consumer trust and security in the rapidly expanding smart home market.
“As consumers embrace the convenience and value of IoT devices, the Alliance is dedicated to helping to create more comprehensive protection for consumers,” Steve Hanna, chair of the product security working group steering committee, said in a March 19 press release, adding that the Product Security Verified Mark and IoT Device Security Specification 1.0 “will make it easier for manufacturers to address consumer IoT security requirements around the world.”
In essence, the home security landscape has undergone a significant transformation, transitioning from traditional methods such as physical locks and alarm systems to the integration of smart devices offering homeowners real-time monitoring and remote access to their properties.
Moving forward, this integration may extend beyond individual homes to encompass broader community-level security solutions, facilitating collaboration between homeowners, law enforcement agencies and other stakeholders to enhance overall safety and security.
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