Is the smart home market maturing and stabilizing, showing a clear path forward for security dealers wanting to capitalize on the new desires of homeowners to interact with many areas of their home life, including security? Not exactly. But there are definitely signs that it has moved to another level of adoption and interest, making the time ripe for action on the part of those who want to adjust their business model to capture opportunities and revenue in this fast-growing space.

A Capital One survey conducted at Honeywell Connect 2018 found that one third of security professionals believe that keeping up with the pace of technology presents the biggest business challenge in 2019. 

A recently released report from Parks Associates, “Smart Product Market Assessment: Networked Cameras,” estimates that 7.7 million standalone and all-in-one networked/IP cameras will be sold in the U.S. in 2018, with $889 million in associated revenues.

In a press release detailing its second quarter 2018 earnings, APX Group Holdings, the parent company of Vivint, Provo, Utah, mentioned that it had dissolved its partnership with retailer Best Buy.

SimpliSafe, a provider of DIY home security, announced that funds affiliated with Hellman & Friedman LLC have entered into an agreement to join forces with SimpliSafe CEO and Founder Chad Laurans to accelerate the company’s growth and expansion of the home security market.