Last week, Resideo Technologies announced several important smart home solutions and tools designed to augment the capabilities of its vast professional network, at a polished event at Austinâ€™s Moody Theater for nearly a thousand industry professionals and company partners.Â CEO Mike Nefkens and Chief Innovative Officer Niccolo de Masi spent an hour walking the attendees through the companyâ€™s vision in the smart home space, accentuated by the announcement of a whole-home monitoring smart app with subscription services potential.
Indoor Air Quality Monitor exhibit at Resideo LIVE.
Nefkens used the Resideo LIVE event to reaffirm the companyâ€™s belief that the vast majority of consumers are frustrated with the interoperability issues and installation challenges that are commonplace in the smart home. â€śWe do not believe that the critical systems of the home should be a do-it-yourself adventure,â€ť Nefkens explained. â€śThrough the new Resideo Home app, weâ€™re going to bring the world of proactive, professional monitoring to the entire home, helping better protect the people inside and mitigating problems before they arise.â€ť
Energy display at Resideo LIVE event.
If anything, Resideo has legacy scale in the smart home that few other companies do. Resideo believes that its new smart app will ultimately be a unified platform that brings together the companyâ€™s 6.5 million connected customers that currently use multiple existing apps to manage functions like security, air and water monitoring, as well as routine home automation capabilities. Resideoâ€™s goal is to completely integrate all of its existing apps into the Resideo Home app by the end of 2020.
In a move that its large network of professionals and partners will likely appreciate, Resideo announced that a â€śprofessionalâ€ť iteration of the app (dubbed Resideo Pro) will assist professionals with installation tools, help provide superior customer service and create an avenue to new business opportunities. Behind the scenes of all of this is the Resideo Pro Portal, a single destination for product data, support and gateway access to tools and services to help market and pursue leads. The company also announced a loyalty and training program called Resideo Pro PERKS that will launch early next year.
Water display at Resideo LIVE event.
I recently wrote a detailed white paper on Resideoâ€™s overall smart home strategy, which flatly rejects the â€śDIYâ€ť approach to the smart home and the gadget phenomenon that prevents homeowners from extracting real value, peace of mind and (crucially) cost savings. To this end, Resideoâ€™s Smart Water Management, Energy Services, Indoor Air Quality Services, Critical Appliance Monitor Services and Security Servicesâ€”all of which will be integrated into its Home app throughout 2020â€”not only provide the homeowner with convenience in managing these critical functions in their home, but provide significant subscription service revenue opportunities for its professionals. At Resideo LIVE, I had an opportunity to speak with Scott Harkins, Vice President and General Manager of Resideoâ€™s Connected Home business, and he highlighted what he believes were the key takeaways from the Austin event. Follow the link above to learn more.Â
The smart home category garners a lot of attention with â€śhotâ€ť gadgets that are often solutions looking for a problem to solve. Itâ€™s refreshing to see a company like Resideo take a decidedly more pragmatic approach to the smart home. While the overall smart home category is undoubtedly one of the fastest-growing markets in the consumer tech space, customer satisfaction is lacking and return rates for smart home products are high. Resideo recognizes that the industry can do much better than this. Its plan to provide its huge network of professionals with new tools, including the new integrated app, nicely positions the company to expand its leadership position in the smart home space. With a presence in more than 150 million homes, with 13 million systems installed each year, Resideoâ€™s product and solutions breadth, expertise and professional network makes it a force to be reckoned with.
Disclosure:Â Moor Insights & Strategy, like all research and analyst firms, provides or has provided research, analysis, advising and/or consulting to many high-tech companies in the industry, including Resideo.Â The author does not have any investment positions in any of the companies named in this article.