Could Fitbit be the leader in Smart watches?

Growth in smartwatch industry is increasing over a period of time with a potential to reach $32.9 billion by 2020, registering a CAGR of 67.6% from 2014 to 2020. Global market for Smartwatch is gaining prominence due to its potential to replace traditional watches and functionality similar to smartphones and secondly, health and fitness remain a dominant segment of the smartwatch market, providing healthcare workers and hospitals with savings opportunities. With this the leading companies are collaborating with their suppliers and re-sellers to penetrate into this market through the right selection of channel, geography and target audience.

Demand for smartwatches has attracted consumers with extra functionalities beyond timekeeping and Fitbit becomes most recalled brand in the household when it comes to fitness tracker. Fitbit took over Pebble, Vector as well as mobile payment company Coin . Rumors of Fitbit's "Project Higgs" GPS smartwatch have been around for months, but the chatter has been getting louder in recent days. A launch may be getting closer. Experts believe that Project Higgs is a straight competition to Apple watch and the Fitbit Blaze was an attempt at bridging the gap between fitness tracker and smartwatch and is expected to be water proof.

As technology evolves and app development advances, the benefits of smartwatches within these segments will become even more robust. A smartwatch is a discrete window to one's smartphone. It has its own smart apps, games, and entertainment apps, along with enhanced features of making calls, messaging, and receiving notifications. With the presence of integrated OS, and different smartwatches have different OSs such as Tizen from Samsung, Android Wear from Google, and WatchOS3 from Apple.

What can you expect from Fitbit GPS Smartwatch:

• Expect to see same interchangeable mechanism as Charge 2 and Alta HR

• Waterproofing confirmed by CEO

• Square, coloured display rumoured like Blaze

Tags: Fitbit, Fitbit smartwatch, cagr, smartwatch market, GPS smartwatch, fitbit gps smartwatch, Project Higgs, Apple watch, Fitbit Blaze, apple WatchOS3