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Alphabet (GOOGL) Introduces Advanced Updates on Google Maps

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Alphabet’s (GOOGL - Free Report) division Google is adding useful and smart updates to its Maps app in a bid to capitalize on the uptake of digital maps throughout the world.

New updates include navigating indoors with Live View, more information on weather and air quality and eco-friendly routes.

In addition to these, the company is updating the delivery and curbside pickup feature of Google Maps.

The latest move bodes well for its growing efforts toward delivering an advanced and seamless mapping experience to users on the back of its strong AI capabilities.

Alphabet Inc. Price and Consensus

 

Alphabet Inc. Price and Consensus

Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote

More Into the Updates

Live View, which was previously available for outdoors only, is now available indoors. Notably, the company has already made Live View live for certain indoors, which include a number of malls in Chicago, Long Island, Los Angeles, Newark, San Francisco, San Jose, and Seattle.

The feature will be available for selected airports, malls, and transit stations in Tokyo and Zurich in the coming months. It will be made available further in more cities.

Notably, Live View is based on Augmented Reality and AI-backed Global Localization technology that helps in finding the right platform, baggage claim, ATMs, nearest elevator/ escalators, check-in counters, ticket office and restrooms, among others.

Coming to weather and air quality updates, Google has added weather and air quality layers for providing information on current and forecasted temperature, weather conditions, and health of air.

About eco-friendly routes, the company strives to reduce carbon emissions by offering route options withlesser CO2 emissions than standard routes. Notably, the feature, which will be made available in the latter part of this year, will be based on the company’s new routing model. The model will be based on traffic, slopes and other factors that will be optimized for lower fuel consumption.

To the delivery and curbside pickup, Google is adding useful shopping information to stores’ Business Profiles on Maps and Search.

Rising Competition

All the above-mentioned updates will aid the company in gaining strong traction among users.

Moreover, Google ups its ante against Apple (AAPL - Free Report) on the back of its latest Maps advancements. Notably, the iPhone maker is constantly making concerted efforts to deliver an enhanced experience to Apple Maps users.

The company is gearing up to bring real-time traffic reporting on Apple Maps with the iOS 14.5 update. The feature will allow users to report accidents, hazards and speed traps they see in their routes.

Further, Google will be able to strengthen its competitive position against Facebook (FB - Free Report) on the heels of its new updates. Notably, Facebook is leaving no stone unturned to rapidly penetrate the digital map space. The company’s Mapillary acquisition remains noteworthy.

Zacks Rank & Stock to Consider

Currently, Alphabet carries a Zacks Rank #3 (Hold).

A better-ranked stock in the broader technology sector is NXP Semiconductor N.V. (NXPI - Free Report) , currently carrying a Zacks Rank #1 (Strong Buy).  You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate for NXP Semiconductor is currently pegged at 10%.

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