We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alphabet (GOOGL) to Bring New YouTube Music Feature to Wear OS
Read MoreHide Full Article
Alphabet’s (GOOGL - Free Report) division Google is leaving no stone unturned to develop new and innovative features in a bid to bolster its presence in the wearable space.
According to 9TO5Google, the company is gearing up to add a home screen tile to the YouTube Music app for Wear OS. This serves as a testament to the abovementioned fact.
With the help of the home screen tile feature, Wear OS users can listen to their favorite YouTube Music playlist or album that they have recently played.
On the back of the recent effort, the company aims to provide an enhanced music experience to smartwatch users. This is likely to expand its reach to customers.
Further, the latest move is expected to benefit GOOGL in expanding its footprint in the smartwatch market.
The smartwatch market has been witnessing significant growth due to the rising adoption of smartwatches, as it offers numerous customer requirements like time schedules, fitness tracking, music and other features in a single device.
Per a Market Data Forecast report, the underlinedmarket is expected to hit $132.9 billion by 2026 from $57.3 billion in 2021, progressing at a CAGR of 18.3% from 2021 to 2026.
We believe the expanding efforts of Google in the smartwatch space position it well to capitalize on the abovementioned prospects.
Apart from the latest move, the company has added Google Maps to Wear OS watches.
In addition, GOOGL’s growing focus on improving battery life and health features of smartwatches holds promise.
Further, the acquisition of Fitbit last year to focus on the health features of the smartwatch remains noteworthy.
Competitive Scenario
Given the upbeat scenario in the smartwatch market, not only Google but also other players including Apple (AAPL - Free Report) , Garmin (GRMN - Free Report) and Huawei are increasing their initiatives to penetrate the market.
Notably, Apple Watch editions including Series 7, Series 6, Series 5 and SE are all compatible with the Apple Music app. Further, users of the Apple smartwatch can also listen to Spotify (SPOT - Free Report) music and podcasts.
Also, customers using Garmin watches such as Garmin Venu SQ and Forerunner 245 can enjoy music from Spotify and Deezer while working out.
In addition, the Huawei smartwatch lets users transfer music in their smartwatches from different sources through Bluetooth. Customers can also install third-party music apps on Huawei watches and play music when connected online.
Nevertheless, Google’s growing efforts to strengthen its Wear OS are expected to continue helping it gain a competitive edge against peers.
It is to be noted that Google’s parent Alphabet has a Zacks Rank #3 (Hold), at present.
Image: Bigstock
Alphabet (GOOGL) to Bring New YouTube Music Feature to Wear OS
Alphabet’s (GOOGL - Free Report) division Google is leaving no stone unturned to develop new and innovative features in a bid to bolster its presence in the wearable space.
According to 9TO5Google, the company is gearing up to add a home screen tile to the YouTube Music app for Wear OS. This serves as a testament to the abovementioned fact.
With the help of the home screen tile feature, Wear OS users can listen to their favorite YouTube Music playlist or album that they have recently played.
On the back of the recent effort, the company aims to provide an enhanced music experience to smartwatch users. This is likely to expand its reach to customers.
Further, the latest move is expected to benefit GOOGL in expanding its footprint in the smartwatch market.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Efforts to Boost Prospects
The smartwatch market has been witnessing significant growth due to the rising adoption of smartwatches, as it offers numerous customer requirements like time schedules, fitness tracking, music and other features in a single device.
Per a Market Data Forecast report, the underlinedmarket is expected to hit $132.9 billion by 2026 from $57.3 billion in 2021, progressing at a CAGR of 18.3% from 2021 to 2026.
We believe the expanding efforts of Google in the smartwatch space position it well to capitalize on the abovementioned prospects.
Apart from the latest move, the company has added Google Maps to Wear OS watches.
In addition, GOOGL’s growing focus on improving battery life and health features of smartwatches holds promise.
Further, the acquisition of Fitbit last year to focus on the health features of the smartwatch remains noteworthy.
Competitive Scenario
Given the upbeat scenario in the smartwatch market, not only Google but also other players including Apple (AAPL - Free Report) , Garmin (GRMN - Free Report) and Huawei are increasing their initiatives to penetrate the market.
Notably, Apple Watch editions including Series 7, Series 6, Series 5 and SE are all compatible with the Apple Music app. Further, users of the Apple smartwatch can also listen to Spotify (SPOT - Free Report) music and podcasts.
Also, customers using Garmin watches such as Garmin Venu SQ and Forerunner 245 can enjoy music from Spotify and Deezer while working out.
In addition, the Huawei smartwatch lets users transfer music in their smartwatches from different sources through Bluetooth. Customers can also install third-party music apps on Huawei watches and play music when connected online.
Nevertheless, Google’s growing efforts to strengthen its Wear OS are expected to continue helping it gain a competitive edge against peers.
It is to be noted that Google’s parent Alphabet has a Zacks Rank #3 (Hold), at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.