Alphabet
’s
GOOGL
division, Google, has been persistently working toward bringing out new smart displays with advanced features.
According to
9TO5Google
, Google is gearing up to introduce a new Nest Hub in 2022.
The new smart display can be used as a tablet by detaching the screen from the base or speaker.
Notably, the company added more interface elements and features like a Gboard-esque keyboard and text-to-speech to the 2nd-gen Nest Hub and Nest Hub Max to provide a tablet-like experience to users.
GOOGL’s efforts for the latest Nest Hub aim at providing an enhanced experience to customers. This is expected to boost the adoption rate of the company’s smart displays.
Efforts to Bolster Smart Displays
Apart from the latest move, the company is setting up to convert the operating system of Nest Hub Max from the Linux-based Cast OS to its own Fuchsia OS.
In addition, Google introduced an Air Quality feature in Nest Hub and Nest Hub Max that shows the quality of air where it is located.
It also improved the display experience and released three new clock faces for smart displays. Additionally, the company rolled out Zoom to the Nest Hub Max.
These initiatives have helped GOOGL expand its presence in the growing smart display market, which is expected to hit $18.25 billion by 2028, witnessing a CAGR of 21.6% during the forecast period of 2021-2028, per a
report
by Allied Market Research.
Competitive Scenario
Given this upbeat scenario, not only Google, but also other companies, including
Amazon
AMZN
and
Lenovo
LNVGY
, are making robust efforts to capitalize on the above-mentioned prospects.
Amazon offers powerful smart displays with the Echo Show series. The company’s latest launch, The Echo Show 10, is controlled by Alexa and automatically moves in order to allow the viewer to move around the room while watching anything or taking video calls.
Meanwhile, Lenovo smart display provides an enhanced visual experience to users. It is enabled with Google Assistant and designed for smart home applications. The company’s tablet, Lenovo Smart Tab M10 FHD Plus 2nd Gen powered by Google Assistant, can be used as a smart display, which remains noteworthy.
Nevertheless, innovating capabilities of Google Nest displays are expected to help the company in gaining a competitive edge over its peers.
Zacks Rank & A Stock to Consider
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider
Advanced Micro Devices
AMD
, carrying a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Advanced Micro Devices has gained 55.8% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
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