Alphabet
’s
GOOGL
division Google has introduced a new setting on the smart displays of its devices, namely Nest Hub and Nest Hub Max.
Per a latest
report
from 9TO5Google, the device settings in the Google Home app show a new option called Air Quality under the Photo Frame menu, with manual options to hide or show. The Air Quality option shows the quality of air in the area.
Reportedly, the Air Quality badge along with weather condition data and temperature widgets have started appearing on the smart displays of the abovementioned smart speakers. Further, the setting does not require to be manually operated.
Once the device is live, the user can view the complete report of three or nearby stations. They can also expand the readings of each location to get the official advisory.
The user can also avail this feature with “Hey Google, what’s the air quality near me?” and other variants.
With the latest feature, the company strives to provide enhanced experience to Google Nest Hub users. This is expected to boost the adoption rate of the device.
Prospects
With the recent move, Google is positioning itself well to expand presence in the booming smart speaker and smart display markets.
According to a
report
by Research and Markets, the global smart speakers market is expected to hit $17.85 billion in 2025 from $6.98 billion in 2021, progressing at a CAGR of 26%.
Also, a Counterpoint
report
suggests that global smart speaker shipments are likely to grow at a CAGR of 21% during the period of 2020-2025.
Further, a
report
by Allied Market Research reveals that the smart display market is expected to hit $18.25 billion by 2028, witnessing a CAGR of 21.6% during the forecast period of 2021-2028.
In addition, a
report
by ReportLinker indicates that the global smart display market size is likely to hit $15.1 billion by 2027, registering a CAGR of 22.1% between 2021 and 2027.
Competitive Scenario
Given this upbeat scenario, not only Google but also other organizations including
Amazon
AMZN
,
Lenovo
LNVGY
and
LG Display
LPL
are making strong efforts to capitalize on the abovementioned prospects.
Amazon offers powerful smart displays with its Echo Show series. The company’s latest launch, Echo Show 10, is controlled by Alexa and automatically moves so that the person can move around the room while watching TV shows 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.
Further, LG offers Google Assistant-enabled smart display. The company’s Xboom AI ThinQ WK9 smart display remains noteworthy.
Nevertheless, innovating features of Google Nest speakers are expected to help the company in gaining a competitive edge against peers.
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
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