According to Reuters, a smartwatch is a device that could be revolutionary like the smartphone. Even if it's small, a smartwatch could allow users to connect bodies to data and to the rest of the world.

A Reuters report pointed out that some companies had already tried to make the smartwatch more mainstream. Samsung Electronics, for example, launched the Galaxy Gear smartwatch this week. Sony Corp, meanwhile, also updated its Android-compatible SmartWatch. Even Apple and Google were also seen to be interested in developing the device.

Supporters of the smartwatch technology said there is a huge market potential for such wearable devices. Credit Suisse said smartwatches had the potential to become a USD 50 billion market in just four years.

Andrew Sheehy, Chief Analyst of consultancy firm Generator Research, pointed out the awkward way a lot of people hold mobile phones. "Look at the way we experience mobile communication today - this is not the end point. If you look at the phone today, it's important to ask: is this as good as it gets?" he told Reuters.

Wearable devices like smartwatches could remove these cumbersome functions,