Alphabet is one of the most innovative companies in the modern technological age. Over the last few years, the company has evolved from primarily being a search-engine provider to cloud computing, ad-based video and music streaming, autonomous vehicles, healthcare providers and others.
In the online search arena, Google is a monopoly with more than 94% of the online search volume and market. Over the years, the company has witnessed increase in search queries, resulting from ongoing growth in user adoption and usage, primarily on mobile devices, continued growth in advertiser activity, and improvements in ad formats.
The company is gaining market share in the cloud-computing, driven by continued strength in Google Cloud Platform and G Suite offerings.
Alphabet also enjoys a dominant position in the autonomous vehicles market, thanks to Waymo’s relentless efforts. Also, it has bolstered its footprint in the healthcare industry with its life science divison, Verily.
The company has also become a renowned name in the world of entertainment. YouTube came up with $20 billion advertising revenues in 2020.
Total revenues were $182.5 billion in 2020. The company reports revenues under three broad heads, Google Services, Google Coud and Other Bets, which generated 92%, 7% and 3% of total revenues, respectively.
The Google Services includes products and services such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube.
Google Cloud includes Google’s infrastructure and data analytics platforms, collaboration tools, and other services for enterprise customers.
Other Bets is a combination of multiple operating segments that are not individually material.
Alphabet has many competitors in the form of internet pioneers, streaming platforms, technology giants, cloud computing and customer relationship companies.