Motorola has finally made its Moto 360 official, introducing the highly-anticipated Android Wear smartwatch with a circular form factor at the IFA 2014 trade show.

The wearable technology market has rapidly picked up steam recently and there are plenty of exciting gadgets already available, but the Moto 360 drew lots of attention due to its round-shaped display, as opposed to the rectangular form factor most other smartwatches sport.

On the other hand, LG has stolen some of Motorola's thunder by launching its G Watch R first, which also boasts a circular form factor. Nevertheless, the Moto 360 holds its own and is ready to compete with any and all rivals out there.

"Moto 360 is a classically-designed, modern timepiece powered by Android Wear. Comfortable, familiar, and crafted with the finest materials, Moto 360 keeps you up to date without taking you away from the moment," Motorola tout in its announcement. "Glance at your wrist to see updates or just speak to get the info you need. Keep track of your steps and know your heart rate thanks to a built-in pedometer and heart rate monitor. Enjoy battery life that lasts all day, then just place Moto 360 on its wireless charging dock at night."

The Moto 360 features a circular 1.65-inch scratch resistant display with Gorilla Glass protection, a "real leather" band, "all-day" battery life, as well as a built-in pedometer and optical heart rate monitor, as the company itself highlighted in its announcement. The wireless charging capabilities should increase convenience and enhance the overall experience, while the gadget's water resistance should further increase its appeal.

Motorola's new smartwatch is able to pair with any smartphone running Android 4.3 or newer, allowing users to receive notifications about the weather, traffic, flight alerts, and more, thanks to Google's Android Wear. Moreover, the gadget also comes with built-in Google Now functionality, which means that users can ssimply say "OK Google," followed by their request, and set reminders, check routes, send texts, see directions, and more. Users will also be able to enjoy popular Android apps such as Facebook Messenger, Lyft, and others.

The Moto 360 should be available anytime now from Motorola's website, Google Play, and Best Buy, sporting a $250 price tag. In the meantime, check out the promo video below.