The wearable wristband market is already heating up, but forecasts expect more than 17 million wearable devices will ship in 2014. This includes both smartwatches and fitness wristband trackers.
According to research firm Canalys, annual smartwatch shipments alone are estimated to reach 8 million in 2014; that number is estimated to grow to more 23 million units by 2015 and more than 45 million by 2017.

Fitbit became the leader in the wristband fitness tracker space in 2013, thanks to its Flex, a wristband that launched in May and even smarter Force device that debuted in October. In the second half of 2013, Fitbit dominated the market with 58% market share, followed by the Jawbone UP (21%) and Nike's Fuelband devices (13%).
Meanwhile, Canalys is estimating Samsung's Galaxy Gear made up the majority of smartwatch shipments — or what it calls "smart bands" — with 54% market share in the second half of 2013, followed by Sony (19%), Pebble (16%) and others (11%). About 1.6 million smartwatches shipped during the period.
"Samsung launched the Galaxy Gear with a major marketing push that gained significant consumer interest," said Chris Jones, VP and principal analyst at Canalys, in a statement from the company."Shipments of the device took Samsung to the top of the smart band category, though disappointing sell-through will necessitate more promotional activity in coming months. Basic band vendors have greater wearable expertise and have shipped greater numbers to date, but smart bands are already growing faster. Increasingly, smart bands will adopt basic band features as the two categories converge."
The firm also noted Android is feeling pressured to enter the smartwatch category soon.
"Android will be critical for developing the smart band app ecosystem, though significant changes will be required before it is suitable for wearable devices," said Matte. "Canalys expects Android to enter the smart band market soon in a meaningful way. Battery life and quality of sensor data will be vital metrics of success for all smart bands."
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