Since the smartwatch industry started booming, there were two major rumors floating around every now and then: The Google Smartwatch and the Apple iWatch. Although the iWatch hasn’t been announced, Google has announced Android Wear, a software platform for wearables.

The software platform is just Android, modified and optimized for wearables. Like the rumors predicted, it relies heavily on Google Now’s Contextual Card system. So much that you can say that Google Now is the backbone of Android Wear.

Of course, it also acts as a display for your phone’s notifications but that is something small compared to the potential to what devices running Android Wear can do.

Google is partnering up with many mobile manufacturers (LG, Asus, HTC, Motorola, and Samsung) to release smartwatches based on the Android Wear platform. Motorola and LG had already made and announced their smartwatches which also run Android Wear.

Fitness features will be built in and wearables based on Android Wear would provide real-time details such as “real-time speed, distance and time information on your wrist for your run, cycle or walk.” and will also have Google Maps built in.

Another good thing is the always on voice recognition. You can say commands without touching the device by saying ‘OK Google’. You can cast videos to a Chromecast, play a song, etc using voice commands.

Current smarwatches don’t have attractive designs. They are bulky and unattractive. But Google says it has been working with Fossil and other fashion brands to get more attractive designs for smartwatches.

The circular smartwatch you see in the videos and images is the Motorola Smartwatch based on Android Wear.

A developer? News for you: You can sign up for a preview for Wear’s SDK here.

Google says Android Wear is very power-efficient and may solve the battery life issues faced by smartwatches these days.

The Android Wear platform seems more…refined than the current generation of smartwatches and has the potential to make it big, if they execute it correctly. Current smartwatches offer nothing more than displaying notifications. You can also whip out your phone for that. But there is an inherent value to having something on your wrist that conveys the required information at the correct time and place without any intervention.

UPDATE: We have done an article on the latest smartwatches based on Android Wear. Make sure to check it out!