Proptech, short for property technology, refers to the use of digital innovation to streamline and optimize the real estate sector. Verticals such as multifamily housing, commercial real estate and the hospitality industry are at the forefront of this transformation, adopting proptech solutions to enhance operational efficiency, tenant experience and energy management.
This burgeoning field encompasses a wide array of technologies, including home automation, smart building systems, real estate platforms and data analytics, all aimed at enhancing the efficiency, security and sustainability of property management and transactions.
Security forms the backbone of proptech, as the safety and protection of assets, data and occupants are paramount in an increasingly connected environment. From access control systems to cybersecurity measures, robust security protocols are essential to ensure that the adoption of proptech not only enhances convenience but also safeguards users against potential risks.
The COVID-19 pandemic significantly accelerated the adoption of proptech, as the real estate industry was compelled to pivot toward remote operations, contactless transactions and enhanced building management. The crisis underscored the importance of technology in maintaining business continuity and addressing new health and safety concerns, leading to a reevaluation of priorities within the sector.
“While trends toward advanced security solutions were already emerging prior to the pandemic, the crisis created a newfound urgency and necessity for change,” explains Maureen Perrelli, chief revenue officer, Brivo, Bethesda, Md. “This shift redefined the criteria for specifying, budgeting and selecting security systems. Organizations that adapted to these new needs have been able to meet the increased demand for trust and comfort, ensuring that their systems can provide reliable security both now and in the future.”
Image courtesy of Grid Squared Systems (Kim Max Photography)
Integrators’ Path to Proptech Growth
As the proptech market evolves, it presents a wealth of opportunities for security integrators willing to adapt and innovate. The sector requires integrators to rethink traditional approaches and embrace new roles within smart building ecosystems. To thrive, sources tell SDM, security integrators must focus on areas where their expertise can make a significant impact, such as leveraging data-driven security solutions, enhancing building automation, and integrating physical security with broader proptech innovations.
Security integrators should focus on smart building technologies, robust cybersecurity measures and advanced surveillance systems to thrive in the commercial real estate market for office buildings and multifamily units, explains Joshua Gerena, segment development manager, commercial real estate, Axis Communications, Chelmsford, Mass.
For office buildings, integrating IoT for energy management, advanced access controls, AI-driven surveillance and comprehensive emergency response systems are essential, he says.
“In multifamily buildings, emphasis should be on smart home features, keyless entry, high-definition surveillance and community connectivity through modern intercom systems and apps,” Gerena continues. “Additionally, prioritizing energy efficiency, resident amenities, and seamless integration of various systems into a single platform ensures ease of management and enhances security. Offering ongoing maintenance, ensuring compliance with regulations, and providing training for staff and residents further enhances the value of these solutions.”
To thrive in the proptech market, security integrators should focus on modernizing their operations and incorporating areas of enterprise software where it fits, such as cybersecurity expertise and digital transformation, particularly with mobile technologies, Perrelli says. “Think more like IT,” she advises.
“Integrators need to have a deep understanding of delivering systems that offer an excellent user experience while maintaining their expertise in safety,” she explains. “Additionally, as customers demand systems that are interoperable and deliver best-in-class performance, integrators should be flexible in meeting these needs with the right products, services, and partner companies. This adaptability will present significant opportunities as the industry continues to evolve.”
Derek Coats, national systems/integration specialist for multihousing access solutions, dormakaba, Indianapolis, suggests that integrators should look for the core things that a property truly needs to deliver to offer the best resident experience possible. There are core trends such as improved workflow, guest entry and operational efficiencies that should be the main focus of discussion to ensure the core components that residents need are discussed and built into the overall solution. Also be aware that single app control of everything on a property is a hot item, he says.
In multifamily buildings, emphasis should be on smart home features, keyless entry, high-definition surveillance and community connectivity through modern intercom systems and apps.
“There are many companies out there with different app options, including some that combine a lot of different options from multiple companies,” Coats adds. “It’s important to thoroughly vet these solutions to be sure the end result will meet or exceed the system expectation by the owner.”
The advent of proptech solutions has driven the real estate sector to realize a paradigm shift that’s synonymous with innovation and disruption — catering to consumers’ demand of technologically advanced solutions that promise enhanced efficiency and cost savings, explains Mark Mattson, product line manager, Nice North America, Carlsbad, Calif. While convenience is a major factor, he says, it’s not the sole goal — it’s also about creating sustainable environments that adapt to specific needs.
“The Internet of Things (IoT) exemplifies this shift, especially when it comes to the smart home space. Over half of U.S. consumers are projected to adopt smart home technology by 2025 — a 42 percent growth in just four years,” Mattson says, citing market research data by Statista. In contrast, only 40 percent of U.S. households were using smart home technology in 2021.
“The vast majority of homebuyers would pay more money for a smart home,” Mattson continues. “And 70 percent of home buyers are actively looking to buy smart homes with convenience, time savings and security as some of the top driving factors.”
For Grid Squared Systems, an integration firm based in Long Island City, N.Y., the multifamily residential market was not initially a key focus. However, over the past two or three years, especially since the midpoint of the COVID-19 pandemic, the company has increasingly shifted its attention to this sector, with a particular emphasis on multifamily retrofits.
Grid Squared Systems, a recognized leader in cloud-based security systems, is based in New York City, which has many multifamily buildings still using traditional intercom systems. As property owners and managers transition to modern, cloud-based systems that offer enhanced functionality, visibility and security, new opportunities are emerging for Grid Squared and other companies, according to Lon Bazelais, the firm’s founder and president, who is featured on this month’s cover.
“We have successfully capitalized on these opportunities and secured several significant projects,” says Bazelais.
The Security Industry Association (SIA) Built Environment Advisory Board, formerly known as the SIA Proptech Advisory Board, is dedicated to enhancing collaboration between the security industry and related sectors like proptech and smart buildings. By expanding its focus, the board aims to advance the integration of physical security systems with various building technologies, ultimately creating more comprehensive smart building solutions. The board achieves this through partnerships, education and thought leadership, reflecting its broader mission to drive innovation in building environments.
SDM consulted with Dan Cremins — who serves as senior business development manager, U.S. East, Delta Electronics, Fremont, Calif., and chairs the SIA Built Environment Advisory Board — about the board’s mission.
SDM: What are the key initiatives or projects the SIA Built Environment Advisory Board is currently focusing on to enhance collaboration and innovation in the proptech and security sectors?
Cremins: The board’s overall mission is to take a broader view of the market in which security is one part of and understand how to lead change vs. follow it. We started as the Proptech Advisory Board because of the growth in that sector but quickly realized that when it comes to tech used in buildings, proptech is only one other part of a much bigger picture. Today, we are looking at how security can play a key role in proptech and smart buildings and sharing this market intelligence with others. This includes both SIA members and others in adjacent industries to learn the value that security data can bring.
SDM: What are the biggest challenges in integrating security solutions with proptech, and how is the board addressing these challenges?
Cremins: The biggest challenge is that security, proptech and smart buildings are siloed markets. How they are designed, specified, sold, installed and serviced are different, but they do not have to be. It really comes down to showing how solutions in each area can add value to the others through integrating the data. The example I use to break the ice in discussions is using video and access control solutions to generate occupancy data that can be used to optimize building performance and help understand space utilization. Most buildings are designed with dedicated occupancy sensors instead of understanding how other existing technology used in buildings can be used for the same purpose.
Overcoming this requires having all the building stakeholders in the conversation at the same time to create a holistic strategy for a design. It also requires educating others about security. Typical pushback I hear on using security solutions for occupancy detection involves privacy concerns, which then requires explaining in detail that almost all cameras are not setup for facial recognition and that data from access control can be anonymized to create trend data vs. tracking people.
SDM: What emerging trends in proptech do you think will have the most significant impact on the security industry in the next few years?
Cremins: What we see is a significant growth in the multifamily residential space for both new construction and commercial building retrofits. These new spaces are higher end and being designed with technology that makes accessing a building secure, touchless and inviting to attract tech-savvy Millennials, Generation Z and more. For example, keys are replaced with mobile credentials not just for residents, but for visitors as well.
Whether you’re taking a self-guided tour of the apartment to rent or getting food delivered inside your space, there is an app for that, making the whole experience simple and cool. The building is also designed with the latest modern technology, such as automated LED lighting, indoor air quality monitoring and electric vehicle chargers that add to the building amenities. Beyond proptech/multifamily, other verticals are faced with challenges in meeting new target goals for sustainability and even NetZero. Video and access control solutions, traditionally looked at for only security, needs to be part of the equation to help with each of these.
SDM: What advice would you give to security integrators looking to capitalize on the opportunities presented by the proptech market?
Cremins: Stop limiting yourself to security-only projects based on perception. Video and access control solutions are not just security solutions! They are solutions used for security applications, but they can easily be used for other applications as well. Think of a smartphone. Do we use it to just make phone calls or a lot more? The key is to get your security contacts to invite other departments to the meeting to understand what problems they have that video and access control can help solve.
This will also help the security department in any organization in budget discussions. In my past, we had a retail customer where the head of security shared access to the video system to HR, regional managers and more to make their jobs easier, and it worked in that budget was never an issue. In some cases, other departments offer part of their budget to the head of security. This should be a common concept where everyone wins.
SDM: How has the security industry’s early adoption of AI and cybersecurity positioned it to contribute to the broader smart building market?
Cremins: Having shifted from the security market into a role focused on smart buildings, I have had the opportunity over the last two years to attend various non-security focused conferences where artificial intelligence (AI) and cybersecurity are talked about as a new trend. The physical security market has already embraced each area years ago. Our proof points include having AI as commonplace in most video surveillance system installations and the convergence with cybersecurity such that IT is in the meeting every time and security solution providers are ready to handle any question asked. There is a lot that the security market can offer to these other markets based on our experience, and it is our mission to spread to the word.
On the commercial side, the situation is similar, although there is some uncertainty in the market post-COVID. “Despite this, there are still commercial properties and owners investing in and updating their systems,” Bazelais adds. “We are fortunate to be working with some of these companies as they transition to modern systems.”
Steve Washburn, executive director of digital transformation, Convergint, Schaumburg, Ill., highlights the broad scope of proptech, focusing on enhancing the customer experience. This includes systems for access control, badging (especially Apple and Android Wallet credentials), conference room and desk reservations, lockers, visitor management, and the data analytics and insights that can be generated or gathered from the deployment and integration of these systems. Convergint sees the highest demand for modernizing access control, visitor management and credential technology.
“Customers want a more automated process that is digital first. Once the foundation of their system is modernized, they are then open for continued development and continuous improvement of the customer experience,” Washburn says. “We see the biggest interest in these types of solutions in the professional services industry and the corporate real estate industry.”
Addressing Proptech Challenges
The adoption of proptech within the security industry has not been without challenges. Integrators and manufacturers alike face a variety of headwinds that have slowed the widespread implementation of these solutions. This include technical integration issues, concerns over data privacy and security, the complexity of retrofitting existing systems, and the need for industry-specific regulations and standards.
Additionally, market hesitancies, driven by the cost of upgrading infrastructure and the need for specialized skills, have also played a role in slowing progress. Still, there are strategies that industry players can employ to overcome these challenges, ensuring that the benefits of proptech can be fully realized across the security landscape.
image courtesy of dormakaba
A main challenge has been with the adoption of industry standards, suggests Kyle Gordon, executive vice president, global sales, marketing and service excellence, AMAG Technology, Torrance, Calif. In the past, manufacturers developed their own widget, he explains, and the mindset was to fortify and protect.
“The development of industry-wide standards and technology standards has increased interoperability, and manufacturers are building systems that work together,” Gordon says. “Both the barrier of entry from a cost perspective has decreased and end-user education has also increased significantly.”
In Perrelli’s view, the main challenges slowing the adoption of proptech in the security industry stem from the industry’s success in delivering on its core value proposition, which has led to market complacency.
“Essentially, security has become a one-trick pony, failing to keep up with evolving market demands. This stagnation is exacerbated by the fragmentation and isolation within the industry,” she says. “To overcome these challenges, the security sector must innovate beyond its traditional offerings and address the broader, dynamic needs of the market.”
Among key adoption challenges, Gerena highlights regulatory hurdles, such as stringent data privacy laws and varying local regulations that can complicate implementation.
“To address these, organizations should work with compliance experts to ensure solutions meet legal requirements and incorporate robust data protection,” he advises.
Cost, understanding and fear of technology are some of the big hurdles to the adoption of proptech, Coats expresses. With inflating expenses, properties are striving to manage costs effectively while ensuring all necessary functions are maintained.
“Our customers rely on us to help them understand the technology and what it can do, how it can benefit properties, and how to implement it,” he says. “The other big challenge is still fear of technology. Tech has taken over our lives to [the point] that the balance of control/convenience vs. overall security is always the most discussed topic and is of utmost importance.”
Integrators must be mindful of the fact that in the multifamily housing industry you are often not dealing with a single property when presenting a solution, Coats explains. Developers and property managers are looking for something they can deploy and standardize across their portfolio. To do this successfully and consistently, the most important aspect is in the design phase to ensure everything needed is delivered into the overall solution.
“Secondly, and just as important, the integrator handling product configuration, installation, deployment, software design, training and end-user support needs to be thoroughly knowledgeable on the complete solution,” he says. “This can be accomplished through manufacturer trainings and obtaining certifications that give each integrator the knowledge and support needed to deliver well-designed solutions that are engineered to meet the specific end user demands.”
Darren Gonsalves, enterprise account executive, Genetec, Montreal, observes a reluctance in the channel to adopt changes in topology and back-end infrastructure as end users shift from on-premises systems to hybrid and cloud-based solutions.
Customers want a more automated process that is digital first. Once the foundation of their system is modernized, they are then open for continued development and continuous improvement of the customer experience..
“A lot of our systems integrators are reluctant to embrace those solutions, because they feel like they are losing grasp or control of their end user. But what I don’t think they realize is that it’s to their benefit, because those types of systems allow end users to have a direct relationship with manufacturers,” Gonsalves explains. “But also we have a tightknit relationship with our systems integrators. We’re creating that forum so that everybody has visibility on the system, so that we are trying to reduce that current consumption gap.”
Reducing that consumption gap is going to be beneficial not only to Genetec, Gonsalves says, but especially beneficial to integration partners who might not necessarily go in and talk about specific solutions.
“Essentially, we’ve created a sandbox, if you will, where everybody has visibility of the contents of that sandbox and they can request specific solutions,” he adds. “And it’s very seamless for our channel partners to tender those solutions.”
Maximizing Proptech ROI
To maximize the return on investment (ROI) from proptech solutions, security integrators must adopt a strategic approach that aligns technology with their clients’ specific goals and challenges. This involves more than just implementing the latest gadgets; it requires careful planning, ongoing support and a clear understanding of how proptech can deliver measurable value.
From selecting the right technologies to optimizing system performance and providing continuous education and support, integrators can position themselves as trusted advisors and partners in their clients’ success. For starters, Gordon says, integrators should be well-versed in understanding their customer’s operational workflows. They need to understand how their customers run their business, including their system configurations, so they can provide guidance on how to streamline.
“If your customers have the right tools in place, workflows will run smoother and require less manual intervention,” he says. “Common pitfalls to avoid are neglecting integrations and upgrades, inadequate training, focusing solely on cost, and choosing unproven technologies. They must always think about the future and how a system can scale as a business grows.”
To ensure their clients achieve a positive ROI from proptech investments, security integrators should first redefine their expectations of what their manufacturer partners and products deliver, ensuring they choose the right products and partners that go beyond merely keeping bad people out, Perrelli suggests.
andresr/E+ via Getty Images
“They should focus on security, sure, but they need to also bring operational efficiency and revenue generation as key ROI components,” she says. “Additionally, integrators need to be specific about the proptech vertical they are addressing, as different verticals present unique value propositions that can meet deeper customer needs.”
Perrelli also stresses that integrators should value services beyond technical aspects by assessing how partners provide customer service and support after the sale. “Selecting partners who demonstrate expertise and commitment to both the customer and the industry is a strong indicator of future performance,” she adds.
Coats advises integrators to evaluate how their proptech solution saves customers money overall and enhances residents’ experiences while improving operational efficiencies. Look for solutions that simplify staff tasks and provide seamless access control across properties, ensuring they reduce time and avoid adding unnecessary tasks and training.
“Budgets are always in place and the right solution comes from a solid understanding of what is needed up front, then built into the access control solution to deliver on every access point,” he says. “Make sure your solution provides a true ROI based on everything learned during the design phase.”
Coats has seen simple additions, such as simplified access control, provide a huge ROI on its own when designed correctly up front. Immediate benefits include reducing the number of lockouts, minimizing/eliminating rekeying cost, and providing insurance savings through the systems’ end-to-end auditing capabilities.
“On the flip side, we have seen money wasted through features added that were not used at all or used for a short time, then never used again. We have also seen money spent on products from companies that are no longer in business today or have been purchased with technologies used in different products/markets all together,” he continues. “Make sure to do your due diligence with the manufacturer you choose to ensure you get the upfront and ongoing support needed to take care of the customer and have the right products, systems, and technologies to deliver property wide solutions.”
Mattson explains the smart home industry is experiencing a shift into a subscription-based service model rather than customers paying for the equipment and labor upfront each time. The ROI here comes from the customers who will have the chance to engage in a monthly fee for things like maintenance and repair, troubleshooting and upgrades.
Cross-functional collaboration is crucial to the successful deployment of proptech solutions. In an era where technology is deeply integrated into building operations, effective communication and cooperation among IT, security and facilities management teams are essential. These teams bring unique perspectives and expertise that, when combined, ensure that proptech deployments are not only technically sound but also aligned with the overall operational goals of the building or property.
By breaking down silos and fostering teamwork, security integrators are better positioned to deliver comprehensive and effective proptech solutions that meet the diverse needs of their clients, multiple sources from the integration community tell SDM.
“It is probably the most important aspect of having a successful deployment,” says Chuck Robinson, director of sales and marketing, Preventia Security, Columbia, Tenn. “There are so many stakeholders in a proptech deployment, each with competing priorities, it is imperative that everyone is on the same page and has an understanding of what may be needed or required for someone else.”
Due to the increased need for collaboration, more people are necessarily involved on a regular basis in Preventia’s communication rhythms, Robinson explains. “Even if we are working for a contractor, it is not uncommon for us to also be communicating with representatives from the key functional areas of the end user on a regular basis outside of standard deployment practices,” he says.
Lon Bazelais of Grid Squared Systems expresses the criticality to be in close communication with stakeholders from across various departments.
“When we have our initial conversations about a project with a client we immediately try to find out where this request is coming from. Each department will have a different need or request from the system,” he says. “If the facilities team is leading the charge on the system we need to understand not only what they are looking for but how it’s going to impact the security team and the IT team and any other team of an organization.”
Very early on in the discussions, Bazelais says they will request the involvement of other departments that may be in contact with the system to head off any potential project interruptions.
“It’s hard work bringing deals all the way to the finish line and just when you’re about to be awarded they say, ‘I just need to run this by my IT folks,’” he explains. “All of those people should be brought to the discussions early on so a full understanding can be ascertained.”
Luis Martinez, vice president of sales and service, GoKeyless, Miamisburg, Ohio, points to IoT companies as a great example for why collaboration is such an important aspect to successful proptech deployments.
“In many cases, they own the relationship,” Martinez explains. “And so there are certain expectations in terms of how we’re communicating details that we’re including in an app when we’re commissioning devices or testing devices. Organically, we’re interacting a lot more with IoT companies because we’re on their apps, we’re checking their boxes, we’re commissioning their devices. But also, with us being onsite, we’re dealing with the customer firsthand. That can be maintenance, that can be the property manager, that can also be their IT team, asking them to maybe open up ports for us, or make some adjustments to the firewall to make sure that things are working.”
Gone are the days when an integrator could complete their work on a property with minimal coordination, Martinez adds. “Now there’s a lot more coordination that needs to happen between us and other teams to make sure that products are working appropriately, that access is being delivered, that the app works, and at the end of the day everyone’s satisfied,” he says.
Steve Washburn of Convergint describes the importance of cross-collaboration in a single word: Critical.
“Almost all our proptech projects have included multiple departments such as corporate real estate, facilities, IT and security. We encourage these conversations early in the sales process,” he says. “In fact, if all stakeholders are not involved that is typically an indicator the project might have a hard time getting approved or accepted.”
Collaboration with property managers and developers especially needs to start at the very beginning of a project, Washburn says. Detailed scoping documents and integration documents are needed, and it is often necessary for customers to try the technology even before they buy.
“It is important to communicate early, seek alignment, document what you are agreeing to and delivering,” he adds. “This does take time but it will save you in the long run and help you close out projects faster.”
“As with any industry, home automation protocols have been evolving — 10 years ago, companies like Z-Wave and Zigbee were competing to become the main device protocol,” Mattson says. “If there are devices programmed to function over only a certain protocol, the costs to upgrade, remodel and retrofit skyrocket. It’s critical for integrators to pick the right technology that can operate across protocols to make it as future-proof as possible, to provide their customers with the latest advancements in their smart home technology selections.”
While there are many things security integrators should do to ensure positive ROI, there are several pitfalls that they should avoid, Gerena cautions. The biggest pitfall to avoid is neglecting the client’s needs. For starters, integrators should avoid generic solutions and involve clients in the decision-making process to ensure the solution fits their specific requirements.
“Technology shouldn’t be overly complicated and should align with the client’s operational workflow. Ignoring the client’s change management process can be detrimental, since failure to address potential resistance and communicate benefits will lead to a less successful adoption,” Gerena says. “Budget overruns are a major potential pitfall and it’s important to account for all potential expenses, including training and integration. Many issues can be uncovered and addressed at the pilot testing stage, which is why skipping it is a mistake. Even the best solution can suffer if there is not a plan for long-term support and regular updates to maintain effectiveness.”
Proptech’s Future Impact on the Security Industry
If market research forecasts are any indication, the proptech sector is poised to meaningfully reshape the security industry over the next 5-10 years, driving transformative changes that will redefine how security solutions are implemented and managed. As smart buildings and IoT technologies become more prevalent, the security industry will need to adapt to new demands for integrated, data-driven systems that offer greater efficiency and enhanced user experiences.
Precedence Research, Ottawa, Ontario, pegged the global proptech market size at $30.2 billion in 2022, with projections it will be worth approximately $133.1 billion by 2032. That amounts to a compound annual growth rate (CAGR) of 16 percent over the forecast period from 2023 to 2032. North America had the largest market revenue of over 56 percent in 2022.
leezsnow/E+ via Getty Images
Trends that are expected to emerge as proptech continues to evolve include advancements in AI-driven analytics, the increasing convergence of physical and cybersecurity, and the growing importance of cloud-based solutions. These innovations will not only enhance security capabilities but also create new opportunities for security integrators to deliver value in an increasingly interconnected world, according to sources.
One of the most anticipated developments is the push toward an open platform architecture. As the demand for comprehensive management platforms grows, particularly in sectors like Class A office buildings and multifamily residential units (MDUs), the industry is recognizing the need for more integrated solutions.
As the proptech sector continues to expand, security integrators face both exciting opportunities and unique challenges. To inform and help new entrants succeed, SDM asked four integrators, “What advice would you give to fellow security integrators entering the Proptech market to help them succeed and meet client expectations?”
Their advice offers guidance on how to effectively integrate security solutions within smart buildings and other proptech environments, ensuring that green integrators are better equipped to thrive in this dynamic industry.
“As a new security integrator coming into the market, take the time to understand the proptech industry. Get a good grasp on the latest trends and technologies. From that identify a solid company that you want to partner with and master that product. Become an expert in that product. This will build your reputation and it will open doors to other companies that will want to be partners with you.” — Lon Bazelais, Grid Squared Systems
“Focus on service, whether you’re dipping your toes into the smart locks, access control, cameras, you name it. Just make sure that you can properly support your customers. Don’t bite off more than you can chew, but at the end of the day service is what matters the most. What we sell now are widgets. Most people can buy them. There are several dealers and integrators out there that are willing to sell them. But what people don’t always get right is just the level of service and support. That’s what matters the most to customers. That’s why they continue to business with companies like ours because we try to do the right thing, we focus on providing good experiences and support. That’s what people remember the most is what you do in times of need.” — Luis Martinez, GoKeyless
“Understand that what traditionally works in other markets will not work here. You have to be committed to the space and willing to change your processes and procedures as needed to deliver a much better customer experience.” — Chuck Robinson, Preventia Security
“Make sure you manage your scope. Don’t let the proptech companies paint an unrealistic vision without knowing how you will execute and implement. Engage your delivery and technical teams to review the scope to ensure alignment and they have confidence to execute. The key is attention to the details and good documentation.” — Steve Washburn, Convergint
According to Dean Drako, CEO of Eagle Eye Networks, Austin, Texas, the current market is fragmented, with solutions tailored to specific functions rather than entire verticals. However, there is a clear trend toward platforms that can manage multiple aspects of building operations, from access control to maintenance scheduling, all within a single interface, he explains.
“The concept of an open platform is particularly promising as it allows for the integration of various specialized applications, enabling a more seamless and efficient user experience,” Drako says. “For instance, a billing app could incorporate functionalities from an access control system like Brivo, or a video surveillance system such as Eagle Eye, creating a cohesive management tool that addresses diverse needs without requiring expertise in each area.”
This approach, Drako adds, not only enhances operational efficiency but also positions the industry to develop more advanced, interoperable solutions in the coming years, ultimately driving the next wave of innovation in proptech.
Gerena foresees the integration of IoT devices enabling real-time monitoring and automated threat responses, while AI and machine learning will enhance security analytics with predictive capabilities and advanced biometric systems.
“The convergence of cybersecurity and physical security will protect both digital and physical assets through advanced encryption and continuous monitoring,” Gerena says. “As mobile access control becomes more widespread, smartphones and wearables will replace traditional keys and cards. Blockchain technology will secure access logs and transaction records, while integrated security platforms will unify various security functions into a single, manageable system.”
The concept of an open platform is particularly promising as it allows for the integration of various specialized applications, enabling a more seamless and efficient user experience.
These platforms will combine various security functions, he adds, into a single, unified system that is easier to manage and more effective at addressing security challenges.
“We are living in a smart world,” Coats expresses. “Everything is connected and we have the world at our fingertips with our smartphones.”
He, too, anticipates more integrations between systems and the eventuality when everything begins to work together in a smoother fashion. “With the rise of AI, I also see the possibility of more automation and ease of access,” he adds. “However, we have to remember that more convenience can also mean less secure. It is a balancing act and we can’t let features tip the scale over security.”
Perrelli doesn’t think proptech will specifically reshape the security industry, as proptech is not a singular concept. Instead, she believes it is the evolving demands that customers place on technology providers —both manufacturers and integrators — that will drive the transformation of the security industry.
“What has defined the industry over the past 30 years will not suffice for the next 30. We’ve witnessed a similar shift in the IT industry, where digital transformation played a pivotal role,” Perrelli says. “A similar transformation is now occurring in the security industry, requiring a rethinking of how technology meets customer needs and expectations.”
