Executive Summary

Google is the world’s largest advertising platform and the heart of one of its most innovative technology companies, Alphabet. The vast holding company, which formed as Google, outgrew its roots in search and continues to expand into new territories, many of which fall within the 23 business areas we cover in this report. But even with its size, it remains susceptible to regulatory pressure and economic uncertainty.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

1. How important is advertising to Google and Alphabet’s other key businesses?
2. Is Search still the engine pushing Alphabet forward?
3. What’s the five-year outlook for Alphabet’s key businesses?

WHAT’S IN THIS REPORT? Analysis of 23 of Alphabet’s most important business areas; we examine their maturity, disruption of the market, leverage over partners, integration with other products, and five-year outlook.

KEY STAT: Google’s advertising business grossed $209.5 billion in 2021, according to its filings, and remains the largest portion of Alphabet’s revenues by far.