Apple, Google and Samsung are all entering the wearable technology space. The companies are reportedly working on a smartwatch. Plus, Google is already pushing to bring its Internet-connected glasses, called Google Glass, to market. (Read More: Apple Smartwatch Out of 'Experimentation Phase': Report )
"This is just the start of where wearable technology is going," said Carolina Milanesi, an analyst for Gartner. "Eventually, smart fabrics, which will be the clothes you wear, will also come to market. But that's years away."