Amazon.com, Inc. (NASDAQ:AMZN) has entered the home security market after acquiring Blink, an Andover, Massachusetts-based company. Blink is into creation of security cams and doorbells connected to the Internet.
According to Blink, the company has been in the market since 2016 and had been getting a great response for providing highly pocket-friendly security and monitoring solutions for the homes. The acquisition by Amazon was a pleasant one and the company has notified all its clients.
Blink to continue under Amazon
The company will continue its operations normally and new innovations are likely to follow with merger with Amazon. The acquisition is going to be a major one for Amazon as this was a market that has been unexplored by a major giant till now. This will also mean tough competition for Nest, a subsidiary of Alphabet Inc Class A (NASDAQ:GOOGL) which is creating home security systems currently.
Amazon has previously announce a Cloud Cam security camera and also a mechanism in few US cities, in which clients could leave their doors unlocked to help Amazon deliver packages when not around.
Amazon looking to Expand into Connected Home Device Market
Blink’s product linage is compatible to Echo smart home products of Amazon. Connected Doorbells are a future system that is gaining immense popularity in the home automation sector.
In 2016, the home automation market stood at $39.93 billion and the same will grow at an 11.3% CAGR by 2022. IoT market size increase, reduced costs of home automation systems, a lot of options and increasing demand are a few reasons that make this market even more beneficial in the future.
In 2017, Amazon has outperformed many companies in terms of acquisitions. Body Labs, Whole Foods Market Inc are some of the top deals of the company this year and the company is now looking to acquire Sqrrl Data Inc in near future. The company is leaving no markets untouched and is going great at present.
The company is working on the right path for generating revenues at present and is aiming to build an independent infrastructure to become a full-fledged global giant.