Alphabet (GOOGL) Nest Doorbell to Expand Nest Offerings
Alphabet’s GOOGL division Google is leaving no stone unturned to bolster its smart security product portfolio.
Reportedly, the company is gearing up to launch the second-generation Nest Doorbell (wired) next year in a bid to meet the rising demand for smart security systems across the globe.
Nest Doorbell features a USB-C port for charging with various modes in the Google Home app that will help customers in saving battery life.
Further, the doorbell will provide customers with a full-day video history through the Nest Aware subscription. This will deliver an enhanced security experience to users.
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Efforts to Bolster Google Nest
With the launch of the next-generation Nest Doorbell, Google has expanded Nest offerings that include smart home products like smart speakers, smart displays, thermostats, smoke detectors, smart doorbells, cameras and smart locks.
Apart from the latest move, Google recently introduced the Nest Doorbell that has local backup storage, and the ability to detect and notify users when packages arrive.
Further, the company introduced an Air Quality feature in Google Nest Hub that lets users know the quality of air in the area.
It also provided a free Nest Power Connector to Thermostat owners to resolve their wiring problems.
Last year, it delivered Nest Cams to hospitals that helped healthcare workers in efficiently taking care of patients with remote monitoring, allowing doctors and nurses to assist patients in case of emergency.
With these initiatives, Google has penetrated the booming smart home market, which is expected to hit $138.9 billion by 2026 from $84.5 billion in 2021, witnessing a CAGR of 10.4% between 2021 and 2026, per a report by MarketsandMarkets.
The recent move will help Google expand its presence in the growing smart home security market, which, per a report by Market Data Forecast, is expected to hit $9.25 billion by 2026, witnessing a CAGR of 20.6% during the projected 2021-2026 period.
Given this upbeat scenario, not only Google but also other companies like Amazon AMZN, Vivint Smart Home VVNT, ADT ADT, SimpliSafe and Abode are making strong efforts to capitalize on the abovementioned prospects.
Recently, Amazon Launched Blink Video Doorbell, Blink Floodlight Camera and Blink Solar Panel Mount to provide enhanced security to homeowners.
Meanwhile, ADT Smart Home Video Doorbell — which lets users see, hear and record the person at their doorstep — is compatible with the ADT Smart Services app, smoke detectors as well as indoor Wi-Fi cameras.
Vivint Doorbell Camera Pro not only notifies users when packages arrive but also protects them from theft as it activates an LED ring and 65 dB speaker, letting the thief know that they’ve been caught on camera.
SimpliSafe Video Doorbell Pro keeps an eye on the doorstep all day long and notifies users when someone is at their doorstep, even if they don’t ring the bell.
Abode introduced Outdoor Smart Cam, which works as a video doorbell and notifies when someone is spotted. Its compatibility with Google Assistant and Alexa remains noteworthy.
Nevertheless, Google’s growing efforts toward expanding Nest security product offerings are expected to help it in gaining a competitive edge against peers.
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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