The market is expanding rapidly. I personally think wearables will eventually replace the form factors of traditional desktop and laptop computers, so it will eat into those markets over time.
Global Market for Wearable Computing Devices Projected To Reach $30.2 Billion in 2018
There have been significant investments in this space (see CrunchBase) but from my perspective there is a shortage of angels willing to support early-stage hardware wearable companies. Most investment seems to be Series-A and later from what I can see. (I am the CEO of an seed-stage wearable company.)
What's your interest in the area Joe?