Alphabet’s GOOGL division Google is enjoying strong momentum in the personal health monitoring space on the back of the growing popularity of its Google Fit app.
Reportedly, the download base of Google Fit on Android has exceeded the 100-million benchmark.
This highlights the efficiency, reliability and user-friendly nature of the underlined app.
Customers can easily access their health data from Wear OS smartwatches and other devices, which can be seamlessly synchronized with the app.
Customized coaching and actionable tips based on user’s health and activity history along with useful Heart Points, which are earned for moderate and super intense workouts, are constantly boosting the adoption rate of Google Fit.
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Google to Gain Competitive Edge
With the growing installation of the Google Fit app, the search giant remains well-poised to penetrate the booming personal health monitoring market.
Google is likely to gain a competitive edge against companies like Apple AAPL, Amazon AMZN, Garmin and Philips, which are also making concerted efforts to bolster their footprints in the particular market.
Apple is constantly gaining momentum in the personal health monitor space with its expanding watch family. Apple Watch’s adoption rate continues to grow rapidly. More than 75% of customers, who purchased Apple Watch in third-quarter fiscal 2021, were first-time customers.
The company’s Fitness+ subscription service built for Apple Watch remains noteworthy. Fitness+ tracks health and workout-related data from Apple Watch, which users can view on their Apple devices.
Meanwhile, the Amazon Halo app and Amazon Halo Band, the respective fitness tracking service and wearable, are aiding Amazon to expand its presence in the underlined market. The Amazon Halo app offers wellness insights through the integration with Amazon Halo Band. Its bundle of AI-driven health features remains other positive.
Google’s strong efforts are likely to continue strengthening its competitive position against the above-mentioned competitors.
The company recently rolled out the Browse tab on the Google Fit app, which enables users to access all health and fitness data from their connected apps and devices and view them in one place.
Further, the company is experiencing growing momentum across its Wear OS, which remains a tailwind. The seamless synchronization of Wear OS with Google Fit and other health apps is another positive.
The company’s acquisition strategy to expand its footprint in the personal health monitoring market remains a major positive. The acquisition of Fossil’s FOSL smartwatch technology is noteworthy.
Google’s acquisition of wearable fitness company Fitbit is termed as a remarkable buyout in the fitness tracking space. Fitbit’s robust fitness tracker portfolio is likely to continue bolstering Google’s market position.
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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