Yes, I do believe that smart watches will be the next big thing. Smart phones have progressed to the point where they get faster processors and better displays with each iteration, but they've pretty much reached a plateau of introducing new features. The next logical move is for smart phone manufacturers to introduce smart watches.
Components have been reduced in size enough to fit inside a watch and provide the usability we look for. They may not be ideally suited to typing text messages and watching video, but they're certainly capable of making phone calls or giving directions or many of the other myriad uses we find for our cell phones, all with the convenience of being easily worn on your wrist.
The watch is dying out. While it may be practical in some professions (especially medical), most people use their cell phones. While the watches in sci-fi movies look cool, they can't keep up with what people want now. People are asking for bigger and bigger phones; why would they go back to a size that could be easily worn on a wrist?
What's the point in having a smart phone on your wrist? If I wanted to get on Facebook, or Twitter or any other social platform, I'd get on my computer. Watches are for telling time, not for getting on Facebook. This makes absolutely no sense at all. It's completely ridiculous.
The problem with smart watches is that watches are not really that useful anymore. There is no shortage of digital clocks on every other tech toy in the lives of most people. Wrist watches were created in an analogue age, when a person could actually go most of the day not knowing the exact time without a watch. The phone is a better platform for a person’s tech needs.