Forbes has revealed in a report released on Thursday that tech giant Google has plans underway to release a new product dubbed 'Google Fit;' thereby marking its foray into the health and fitness arena. The report about Google Fit comes two weeks ahead of Google's forthcoming I/O event which is scheduled to kick off on June 25.

Google Fit will essentially be a health and fitness tracking platform which will use available APIs for pulling biometric information - like calories, steps, and heart rate, among others - together into one place.

Though it is not yet clear whether Google Fit will be a part of the Android OS or a standalone app, it will basically help the users track and aggregate all their fitness-related data in a single spot.

In other words, Google Fit will unfold a much better look at the users' fitness by syncing all the data collected by their fitness trackers, health apps and monitors into one cloud-based system. As such, Google Fit will help users easily monitor their health with a series of devices and software.

Similar in functioning to Apple's recently announced HealthKit in iOS 8 - a product which the company unveiled at it WWDC event last week -, the Google Fit will also give the developers the ability to quickly plug in the requisite code for the service.