Apple Smart Watch: It is no secret that Apple Inc. (NASDAQ:AAPL) is potentially working on a smart watch device, which many are already dubbing “iWatch.” This is something we have talked about in depth over the past few weeks.
And if you think Apple is the only company getting in on the action you are wrong. In addition to the companies that already work within this space, it appears that Microsoft may be checking things out as well.
We talk about Microsoft and Apple Inc. (NASDAQ:AAPL), both of which could be working on smart watch devices, in this piece.
Why is this so important?
Despite the fact that smart watches have been around for quite some time, there is always room for improvement. Apple Inc. (NASDAQ:AAPL), along with Microsoft, may be looking to show the world what it has to offer.
And if they decide to get involved in this market, there is a good chance that it could payoff nicely in the long run.
A recent report by ABI Research claims that more than one million smart watches will be shipped in 2013.
Senior analyst Joshua Flood shared his thoughts on the market:
“The strong potential emergence of smart watches can be attributed to several reasons. Contributing factors include the high penetration of smartphones in many world markets, the wide availability and low cost of MEMS sensors, energy efficient connectivity technologies such as Bluetooth 4.0, and a flourishing app ecosystem.”
As you can see, there are many reasons why Apple may feel that now is the time to release its iWatch and see if it can take over a market that appears to be ready for big growth in the years to come.
At this point, it is hard to say what will come next in the smart watch market. Will Apple Inc. (NASDAQ:AAPL) beat the competition, including Microsoft, to the punch? Or will the Cupertino-based company hang in the back, waiting to develop the perfect device before launching it to the public?
This report by ABI Research shows that the smart watch market is growing. Whether or not Apple Inc. (NASDAQ:AAPL) takes advantage is another thing entirely.
Check back here for more updates on Apple Smart Watch.
DISCLOSURE: I have no positions in any stock mentioned.
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