Cleantech Market Intelligence
Security Proves to Be a Strong Proposition for the Smart Home
Nest has long been known as the Google-backed consumer products company responsible for the innovative and sleek Nest Learning Thermostat. The company has had a fairly limited selection of consumer products for years. It only expanded upon its original thermostat with the Nest Protect smoke detector in 2013 and the Nest Indoor and Outdoor Cams in 2015 and 2016 to bring its total portfolio to four wholly original devices.
Because the company is slow to unveil new products, any hardware releases from Nest are major news. So when Nest announced six new products last week, it made a big splash in the consumer electronics industry. However, the sheer volume of products in this latest announcement is not the most significant part of this news. Rather, it’s the fact that these products are all security related.
Smart Technology Adoption Is Increasing
Nest’s new product rollout emphasizes the growing importance of security as a value proposition for the adoption of smart home technologies. In the United States, consumers are adopting smart technologies through security providers to help increase awareness of what is going on in their homes and feel more secure and protected.
Security systems no longer include only an alarm system and sensors that monitor when a home’s perimeter is breached, but also include connected cameras, door locks, door bells, and garage door openers. These devices create an ecosystem that monitors the home in and out and can help optimize and automate the operations of a home.
Comcast’s Security Offerings
Nest isn’t the only company engaging in the smart home space through security. Comcast has increasingly become involved in the smart home space through its Xfinity Home security service. The company has invested in home automation through its acquisition of iControl and its partnership with Whisker Labs and is utilizing its existing infrastructure and resources to move further into the security and home automation business.
These moves allow Comcast to create new streams of revenue as some of its traditional business models come under threat, like its cable TV business. Vivint Smart Home is another company offering home security and automation products and services, and already has a video monitoring package similar to what Nest has just announced, alongside a suite of other smart technologies likes its Element smart thermostat.
Value Propositions and Consumer Benefits
There are many different value propositions for the smart home outside of security, including energy, comfort and convenience, automation, and health and wellness. The home energy management space was one of the first to introduce smart home technologies, including smart thermostats, but now there are different value propositions for smart home technologies by region. In the United States, security has prevailed, while energy is still the most popular in Europe.
These value propositions help demonstrate to consumers the benefits of smart technologies and how they can significantly affect their lives. Smart technologies for security can help consumers protect themselves and their families, and energy devices can help consumers save money on their energy bills and contribute to a greener planet. This helps drive the adoption of smart technologies and push the concept of a smart home closer to reality.