But search engines aren’t the only competitive space Google is facing. Even in the online advertising space, options like Instagram, Facebook, TikTok and Amazon are gaining ground, as they offer more targeted value propositions and customer engagement options compared to Google.
Cloud computing is another area where Google is facing rising competition from big players like Amazon Web Services and Microsoft Azure. Google has struggled to gain the same market share as these other services. This shows that rising competition is a weakness that Google needs to address to maintain its current position.
Alphabet Inc., Google’s parent company, is one of the world’s largest companies, with a market capitalization employment data of more than $1 trillion. It has its hands in several areas of the economy, including search, entertainment, autonomous vehicles and cloud computing.
However, this also comes with fierce competition, which threatens Google’s position as a market leader in several niches. In the search space, for example, players such as Bing and DuckDuckGo have emerged as major players. In the entertainment sector, Google faces competition from Netflix, Hulu and Vimeo.
And fierce competition poses several challenges and risks for Google. For example, the country faces constant pressure to innovate. It also reduces Google’s bargaining power, as the tech giant may find it harder to strike favorable deals with partners, advertisers and other stakeholders. This could limit the company’s ability to generate revenue or expand into new markets.
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