Whether it's Google with its Google Glass, Samsung and its Galaxy Gear smartwatch or any number of start-ups getting into the space, there's a big push to bring more wearables to the masses.
And a big reason there has been so much growth in the space is simply because it's now so much cheaper to make these devices.
(Read more: Samsung may already be working on next version of smartwatch)
"What's happened is your cost of computing power has come way down, the cost of connectivity has come way down, sensor cost has come way down and can now be integrated in tiny, tiny packages," Rahman said.
But designing those tiny packages is still very challenging because consumers have a higher expectation of something they wear as opposed to a device they carry or keep in their home, Béhar said.
"Designing wearables, from a design standpoint, from a technical standpoint, it's the hardest thing I've ever worked on," Béhar said. "The expectation from the consumer for the product on how it fits, its ergonomics, its durability, how it looks, how it expresses their current state of fashion is so much higher than with a product you place on the table."
(Read more: Why Apple is still the king of design and innovation)
—By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.