alphabetGoogle, the GOOGL division of Google, is igniting every cylinder in the smartwatch market with its innovation and advanced features.
This is evident from the latest plans to deploy a feature called “smart unlock” on WearOS 3 smartwatches.
In particular, this new feature allows you to unlock your Android smartphone, tablet, or Chromebook when your Wear OS 3 watch is unlocked on your wrist and placed near these devices.
In addition, another app called Google Pixel Watch is set to be published and you need to connect to set the smart unlock feature on your Pixel smartphone.
We are confident that the latest features will improve the user experience. This will give momentum to Wear OS 3 and the entire watch backed by it.
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Expansion of smartwatch initiatives
The latest move is a precursor to Google’s growing efforts to enhance Wear OS.
Apart from the new features, the company is preparing to add home screen tiles to the YouTube Music app for Wear OS.
Added Google Maps to Wear OS watches. It is promising that GOOGL’s increasing focus on improving battery life and health features in smartwatches.
In addition to this, Google recently ended its long-awaited quest for smartwatches with the introduction of the Google Pixel Watch with Fitbit technology.
The company’s acquisition of Fitbit is noteworthy.
These strong initiatives are expected to help expand our presence in the fast-growing smartwatch market.
According to a report of facts and factors, the global smartwatch market is expected to reach $ 97.5 billion by 2028, with a CAGR of 21.5% from 2022 to 2028.
Global smartwatch shipments in the first quarter of 2022 increased 13% year-on-year, according to a Counterpoint Research report.
Alphabet, which currently holds Zacks Rank # 3 (pending), has been slow to enter this market, but its growing smartwatch efforts will intensify competition with other existing companies, including: There is a possibility. Apple AAPL, Amazon With AMZN Garmin GRMN has left no stones to expand its footprint in the smartwatch market.
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Apple, which now dominates the wearable space behind the expanding watch family, is constantly striving to maintain its advantage. The strong adoption of the Apple Watch against the backdrop of useful and advanced features such as Cycle Tracking, Noise app, and Activity Trends remains a big plus.
In particular, Apple accounted for 35.9% of total smartwatch shipments in the first quarter of 2022.
In addition, Garmin is expanding its product portfolio for the fitness and outdoor businesses, built through both in-house development and acquisition, making it a potential player in the wearable space.
Garmin accounted for 4.5% of total smartwatch shipments in the first quarter of 2022.
Amazon is gaining momentum across fitness tracking services and wearables Amazon Hello and the Amazon Hello Band. Recently, the company introduced Halo View, Halo Nutrition, and Halo Fitness to expand its personal health monitoring efforts.
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