Yahoo Finance Amazon's (AMZN) New Devices Boost Smart Home Security Offerings
Amazon AMZN has been making strong efforts to expand its smart devices portfolio in a bid to expand its footprint in the promising smart home space.
The latest introduction of two Blink devices, namely Blink Wired Floodlight Camera and Blink Mini Pan Tilt, testifies to the aforesaid fact.
Blink Wired Floodlight Camera is a hardwired security solution comprised of a smart security camera and powerful LED lighting. Further, it is equipped with Amazon’s AZ2 Neural Edge Processor, with the help of which the device offers advanced motion-detection features.
Blink Mini Pan Tilt, which adds a motorized mount to Blink Mini, gives a wider coverage of any room, enabling users to pan or tilt the device remotely via the Blink app.
With the latest launches, Amazon strives to provide an enhanced security experience to customers.
Growth Prospects
With the recent move, Amazon has strengthened its smart security device offerings.
The expanding global footprint of Blink Video Doorbell remains noteworthy. The device offers a long-lasting battery life, wired or wire-free installation, HD day and night video, two-way audio, and alerts to users’ smartphones.
With the expanding Blink family, the company remains well-poised to capitalize on the growth prospects in the booming smart home security camera market and the smart home security market.
These markets are booming, owing to the increasing demand for smart homes and rising security threats.
The integration of artificial intelligence in the security systems, and the amalgamation of biometrics, facial recognition and retina scanning are further proliferating the market.
According to a report by Grand View Research, the global smart home security camera market is expected to witness a CAGR of 18.7% between 2022 and 2030.
Per a Brand Essence Research report, the smart home security market is expected to hit $5.86 billion by 2028, witnessing a CAGR of 20.4% between 2022 and 2028.
Competitive Scenario
Amazon’s expanding smart security devices are likely to aid its competitive position against companies like Alphabet GOOGL, Vivint Smart Home VVNT and ADT ADT, which are also making strong efforts to expand their presence in the promising market.
Alphabet’s division Google is gearing up to launch the next generation of its Nest Doorbell. Google revealed images of the new Nest wired doorbell named ‘venus’ through the updated Google Home app. The company will showcase its Nest doorbell, along with other Nest smart home products, on Oct 6.
Google recently collaborated with The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), and the Asian American Federation. Per the terms of the partnership, Google will provide Nest Cam Kits to Asian American and Pacific Islander (AAPI)-owned small businesses. This is likely to boost the adoption rate of Nest Cam Kits among AAPI business owners.
Meanwhile, the launch of a suite of smart home products, including an all-new Doorbell Camera Pro, Outdoor Camera Pro, Spotlight Pro and Indoor Camera Pro, by Vivint remains noteworthy. With the new products, Vivint aims to offer safe and smart home solutions to homeowners.
ADT offers Smart Home Video Doorbell, which allows users to see, hear and record the person at their doorstep. The doorbell is compatible with the ADT Smart Services app, smoke detectors and indoor Wi-Fi cameras.
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