Leading home security brand, Yale, part of ASSA ABLOY, is pioneering the emerging smart home market, with its Smart Living range of connected security devices.
Tabitha Morton, Head of Integration at Yale explains:
According to recent research from IT firm Gartner, it will only take another six years for the smart home market to reach maturity – where the average affluent family will have more than 500 connected devices in their home. In fact, they predict that the number of connected devices in the world will reach upwards of 26 billion by 2020.
With technologies moving at an unprecedented rate, it’s little wonder the technology giants are scrambling to find an edge. Samsung has staked its claim in the smart home market with SmartThings, likewise, Apple’s HomeKit has whetted the appetite of many homeowners, and Google’s acquisition of Nest has further propelled smart homes into the forefront of people’s minds.
Yale is leading the way with the introduction of Smart Living, where it aims to be the leader in smart home security and a major player in the wider smart home market.
Our research has found that the smart home market will have five key drivers for consumers; smart energy, security, entertainment, convenience and health*.
It is expected that adoption will occur through one driver, and homeowners will then extend their systems as they become comfortable with the technology and experience the benefits first hand. However, when it comes down to security as part of a smart home system, brand trust is critical and that is where Yale believes it has a winning proposition.
Our strategy is not to develop a complete home automation system. We are developing connected smart security systems, where all the elements are App controlled and talk to each other, for consumers who just want home security.
Then we are focused on being the connected security device of choice for all the leading home automation systems: so the consumer can buy a Samsung or a Nest smart home system, but then add Yale connected home security devices seamlessly and efficiently.
We are also conducting in-depth consumer studies to really understand consumer hopes and fears for the smart home. For example, our research shows that the top features consumers want in a smart home include remote locking of doors and windows, an alarm system that can notify you of an event trigger via a smartphone, and the ability to control home security from anywhere in the world at anytime.
Key demographics for smart security
Typically aged between 30-39, this demographic tends to be city-based and have a professional or managerial occupation with an above average income, enabling them to live comfortably and spend their disposable income on travel, gadgets, socialising and shopping.
Young professionals lead busy lifestyles, and want an integrated system that allows them to check on their property remotely at anytime, from anywhere. They are technology savvy and more likely to adopt a full home security system as opposed to a singular device.
As this demographic is often away from home on business trips or holidays, they often require a temporary and secure method of granting cleaners or people access, such as the PIN code function on a smart lock. As this market is also into fitness activities such as running or cycling, investing in a smart lock removes the need to carry house keys, for added convenience.
Aged between 35 and 49 and lives in a detached property, the busy mum is always on the go, juggling responsibilities for children and elderly parents, as well as organising their own home and family life. They want technology that is convenient and can make their life simpler. A tablet is their primary device and they are comfortable using the Internet for shopping and socialising.
Using a smart door lock, they can let in children who have forgotten their keys remotely or let child minders, cleaners, gardeners, pet sitters or family guests in at specific times, using a temporary PIN code. They may also install the same technology at their elderly parents’ home, so they can monitor their security, make it easier for carers or “home helps” and smart locks using a key card can be much easier for the elderly with arthritic fingers. Smart CCTV cameras positioned internally also help with checking up on pets, or provide reassurance that children are safely back from school.
Third, is the older but lucrative demographic of the 55-75 market. These baby boomers often own their home outright, their children have grown up, and they are lucky enough to have decent pensions.
They have busy active ‘semi –retirement’ lifestyles, often travel abroad and also frequently own a second property either in the UK or abroad. They are also increasingly tech savvy and like the ability to control and monitor their home remotely or to grant access to tradesmen or carers. This generation are also most concerned about crime and burglary, so good home security is seen as an important investment.
Tabitha Morton will be speaking at IFSEC on 23rd June 2016, discussing the potential for the residential security market, followed by a Q&A session and meet and greet. Haven’t got a ticket yet? Register your attendance for IFSEC 2016 here.
*A survey of 2000 UK adults was carried out for Yale UK by OnePoll, a member of ESOMAR, July 2015.