Alphabet look to upgrade Nest add-ons
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Alphabet look to upgrade Nest add-ons

Nest, a division of online tech giant Alphabet formerly known as Google, is readying a number of new products to get hold of a bigger share of the connected home market; amongst them, a cheaper version of its flagship thermostat and home security products.

Forecast of connected home market size 2015 to 2021

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SOURCE: Statistica, Oct 2016

Nest’s “learning thermostat” takes the initiative from homeowners’ patterns of temperature control, ultimately adjusting heat in the home in line with historic use. Currently, it retails at $249, but Nest is hoping to get a version to market with a price tag of under $200. It will accomplish this by using cheaper components, and “at least one internal prototype lacks the flagship model’s metal edges” reducing cost further, Bloomberg said, citing an anonymous source.

This thermostat may be on sale as soon as next year, and could contain further upgrades. Bloomberg’s source says the company is working on sensors to allow users control over temperature by individual room, rather than the whole home.

Nest is also looking to update its security system offerings. Allegedly, a home-security alarm system, a digital doorbell, and an updated indoor security camera are currently being worked on.

The home security alarm system will ring whenever a person enters a room, and can be disabled with a key code. It will also be paired with a smartphone application that allows its owner to dictate who is authorized for each room – useful in the case of cleaners, visitors, dog walkers, and more.

The indoor security camera will determine when people enter rooms and notify its owner through a mobile app. Meanwhile, a video camera feature may also exist in Nest’s upcoming digital doorbell system, allowing users to speak to people face-to-face through locked doors.

Disclosure
Dominion holds Alphabet, the parent company of Nest, in its Global Trends Ecommerce Fund.


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