Industry News

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.

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