For those of you unfamiliar with the term, techopedia defines a smartwatch as “a wearable computing device marketed as more than a cell phone. With a glance, it gives atomic clock accuracy and allows you to read your text messages in a device that is always at hand (or, dare I say, on hand).” It is a watch after all! According to NextMarket Insights, the smartwatch market is expected to reach shipments of around 15 million units in 2014 and surpass 373 million units by 2020. Basically, smartwatches are predicted to explode into the tech scene and become an essential gadget within the coming years. This means that there is a great opportunity for companies to profit off the industry’s growth in the immediate future. These numbers include both companion smartwatches (i.e., functions as a complimentary peripheral to another device) and standalone smartwatches (i.e., comes equipped with full communication and calling capabilities).