The British flexible electronics company Plastic Logic has issued a wonderfully cold-eyed white paper about the wearables market. Largely devoid of cheerleading, the paper sees the most growth in the fitness and healthcare businesses.
Smart watches are the start, they say, but are useful mostly as thought experiments. The real breakthroughs will be in flexible displays (which Plastic Logic makes), and advances in power.
Thought-provoking stuff. Worth downloading and reading.