Google’s spending spree is set to continue into 2015, with the acquisition of camera firm GoPro expected to shakeup the wearable technology market.
According to CSS Insight’s Predictions for 2015 and Beyond report, the search engine giant is likely to acquire the firm early next year.
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“GoPro has excelled in the video and image capture market but is currently facing increased competition from new players and products,” the report read.
“Google provides further investment and exploits GoPro's brand, technical expertise and devoted users to advance Google Glass. It also invests in cloud storage and video processing services for GoPro owners.”
Google has already spent more than $5 billion (£3.2 billion) through purchasing 33 companies in 2014 alone. Go Pro has been valued at $2.95 billion following its decision to go public earlier in the year, but Google has spent significant amounts of cash before in order to acquire other businesses. Back in 2011, the company bought Motorola Mobility for $12.5 billion.
The CSS Insight report also predicts that a major sports brand will enter the wearables market, with Nike or Adidas likely to acquire a company with a presence in that sector such as Fitbit, Jabra or Jawbone.
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The wearable technology market is predicted to grow massively in the next few years, meaning that early industry pacesetters could find themselves subject to a number of buyout proposals from some of the biggest technology firms in the world.