HeyBryan Disrupting Service Installers as Smart Homes Industry Reaches $53 Billion

Smart home technology, which allows for remote control and monitoring of connected home devices through applications, has taken off in recent years, generating substantial tailwinds to keep it going for years to come. Homeowners can now change climate, lighting, entertainment, security, appliances and much more in their house with the tap of a smart device.

Thing is, proper installation and coordination with other smart devices in the home isn’t always the most user-friendly proposal.

Vancouver-based HeyBryan recognizes this and has stepped to the plate, adding smart home installation and repairs to the services on its HeyBryan app. Launched in 2019, the app up until Tuesday has been focused on more traditional household tasks, such as handyman services, furniture assembly, plumbing, electric, yard maintenance, cleaning, painting, etc.

Nest, Ring and Sonos Emblematic of Smart Home Value

HeyBryan, the peer-to-peer app named after Canadian HGTV contractor star Bryan Baeumler that connects vetted “Experts” to consumers, is affixing its position in a smart home industry estimated by Zion Market Research to grow from $24.1 billion in 2016 to $53.5 billion by 2022.

Brands like Nest (acquired by Google (NASDAQ: GOOGL) for $3.2 billion in 2014), Sonos (NASDAQ: SONO, $1.5 billion valuation at IPO in August 2018) and Ring (acquired by Amazon (NASDAQ: AMZN) in 2018 for $1.0 billion) have become household names in the smart home market. These companies all demonstrate the value and advantages of early movers in the industry.

Technology is great, but it is by no means perfect. For consumers, there is absolutely nothing more frustrating than purchasing a new device (e.g. a smart thermostat) that is supposed to make life more convenient and not knowing how to install it properly. Homeowners can turn to services such as Best Buy’s (NASDAQ: BBY) Geek Squad, but that means either paying a higher install fee or an annual subscription (and then smaller one-off fees for in-home work).

Inexperience hearkens many daunting questions, such as: Is my HVAC system compatible with the smart thermostat? How do I get low voltage to my smart doorbell? Can I tie new speakers in with existing ones? How will I know if my new product is defective out of the box?

The HeyBryan app will makes the installation and repair processes more efficient and much simpler by presenting consumers choices of seasoned contractors interested in providing the service at a fair price.

Solving Problems, Creating Jobs

HeyBryan CEO Lance Montgomery founded the company after realizing that there was no simple process to locate and feel comfortable with a repairman for an appliance in his own house. HeyBryan conducts thorough background checks before designating “Expert” status and allowing a contractor into its program, giving its users peace of mind.

As it expands into the smart home market, the company is actively recruiting and vetting potential Experts for install and service of smart technology such as doorbells, locks, lighting, security cameras, thermostats, plugs and switches.

“While some [smart home devices] are fairly straightforward and are essentially ‘plug and play’ items, many do need professional installation to ensure that they are configured correctly and work properly and safely,” said Montgomery in a news release.

Montgomery is savvy enough to recognize a growing workforce being available as a result of a changing household dynamic. The legacy television industry is collapsing as cord-cutters increasingly select alternatives. Traditional home security systems have felt the pain of less-expensive, IoT (Internet of Things) options. According to the HeyBryan chief executive, smart home technology putting pressure on conventional services “has left an incredibly talented group of individuals who can transition their skills to the smart home industry.”

Embracing the role in the space and what it means for jobs, Montgomery added, “We are excited to be a part of enabling that transition.”

These workers are part of what has colloquially become known as the “gig” economy, where individual workers are paid per task, rather than an hourly wage. Companies like Uber (NYSE: UBER), Amazon Flex and Fiverr International (NYSE: FVRR) are some of the companies at the forefront of the movement, which HeyBryan can call itself a part of as well, although much smaller in scale and market capitalization.

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