As we see high end designer’s clothing collections hit the runway each year, despite the recent economic depression that penetrated our country, fashion is a profitable business to get into. However, instead of designer clothing and accessories, the next designers to make a financial splash in the world economy is coming from the inventors and scientists.

In order to acknowledge the future, we must first pay homage to one of the first wearable technologies released in May of 2012: the Machina Midi Controller Jacket. This special jacket is designed to allow you to use your body as an interface to create music. All of the fabrics are waterproof and the electronics are embedded into the jacket, so on the outside it looks like a regular jacket.

According to a new market report published by Transparency Market Research "Wearable Technology Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012- 2018," the global wearable technology market was at 750.0 million in 2012. By 2018 it is expected to reach 5.8 billion, at a CAGR of 40.8% from 2012 to 2018. North America is expected to maintain its lead position at 43.0% of the global wearable technology revenue share in 2018, followed by Europe.

The market for wearable technologies is exploding, ranging from simple fitness trackers like Fitbit and Withings activity tracker, which was caused by the rising aging population and increased diabetic population. Wearable technologies are being adopting all over the world because of its portability and multi-functionality options.  For 2012 fitness and wellness wearable’s was the largest revenue share, but by 2018 smart watches and glasses are going to climb the charts thanks to Google’s Project Glass.

Google (News - Alert) has sparked a new technological invention for the future, where companies all around the world are going to competing to create computerized glasses.  You can search the web, check text messages, watch online videos and post photos and stream live videos all from your right eye’s field of vision where the computer screen is anchored. With rumors surrounding Apple (News - Alert) and Microsoft’s own project glass launch, it seems that Google’s pair is just the beginning of a new revolution.  

And this is just the beginning of the predicted successful future for wearable technologies.