Fitbit to Acquire Smartwatch Maker Pebble for around $40 million
United
States: Fitbit, a leader
in fitness band market, is near a deal to buying Pebble, a smartwatch maker. In
a deal, Fitbit will be acquiring Pebble's assets including intellectual
property and software. As the Pebble was facing financial challenges from the
past few years. The deal is in its
closing stage but it has not been completed. Fitbit is looking for the Pebble’s
software platform, which is one of the largest app catalogues of any wearable
device and paired with both Android and iPhone devices.
TechSci Research depicts with the help
of this acquisition, Fitbit would expand its product range and go beyond
fitness wearables. As well, it would increase its presence in Smartwatch
market. Further, with growing technological advancements, coupled with booming
consumer electronics industry would enhance the smart watches market across the
globe.
According to the recent report published
by TechSci Research, “Global
Smartwatch Market By Type, By Application, By Operating
System, Competition Forecast and Opportunities, 2012-2021”, the global market for smartwatch is
projected to grow at a CAGR over 25% during 2016-2021. Personal assistance
application dominated global smartwatch market, on account of increasing usage
of third party application in connected devices and rising demand for
technologically advanced products. North America was the major demand generator
for smartwatches across the globe, due to increasing number smartphone users,
growing shift towards standardized connectivity coupled with increasing usage
of smart functions. Apple Inc., Samsung Electronics Co. Ltd., Pebble Technology
Corp., Garmin Ltd., etc., are few of the elading players in global smartwatch
market.