The new software is a step-change for Android Wear, bring a more user friendly experience and unlocking a load of features to make Android wearables much more competitive.
There's a big change in the visual design, more customisation options through complications on watch faces, easier messaging options with suggested replies and a swipe keyboard.
There will also be a native Google Play app store, meaning you can download standalone apps to the watch without the need to use a phone – bypassing one of the limitations experienced by iPhone users.
There is also Google Assistant and more enhanced fitness options through Google Fit.
Some of the new features are hardware dependent, like Android Pay support which needs NFC, as well as the support for rotational inputs – which none of the existing Android Wear devices currently have the hardware to support.
Android Wear 2.0 makes Android Wear look better and behave better so we can't wait for the update to drop on our existing devices.
Google will be releasing the software for existing devices on 15 February, but manufacturers will then be encouraged to test the software before pushing it out over the air to devices.
We're keeping a track of all the devices that are due for upgrade and when you can expect that upgrade to drop, so stay tuned.