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“We feel it’s underpenetrated. We can achieve our near term and midterm growth goals in residential. We’re going to stay focused. ”And that means more than security. Of its clients, 85 percent employ some
“smart home component,” Boyce said. That could include the ability to disarm the home alarm, lock a door, or look at security camera footage via a cellphone. But increasingly, Boyce said, smart home components include the ability to adjust components like lighting, heating and air conditioning, and appliances and devices. Defenders projects up to 97 percent of its clients will have some form of smart home technology within 12 months. “We think the residential security business will continue to grow and the growth will accelerate because there will be more smart home components,” Boyce said. That’s pretty impressive penetration
considering Defenders didn’t get into smart home devices until 2014. The company then backed off of those sales for a time to re evaluate and retest the market.