With more wearable tech devices launching, 25 per cent of consumers plan to own a smartwatch within the next five years, according to marketing firm Acquity Group.
Eight per cent of consumers have also said that they plan to adopt a smartwatch within the next year.
Among wearable tech, wearable fitness devices are also set to rise with 13 per cent of consumers planning to purchase one within the next year and 33 per cent looking to own one within the next five years.
The news comes following this week's huge announcement of the Apple Watch, which is due to launch in early 2015.
However, 87 per cent of respondents in Acquity's study revealed they had not heard of the ‘Internet of Things’ (IoT).
However, 30 per cent of consumers already own or plan to purchase an in-home IoT device in the next two years.
Other companies such as Motorola and Samsung have also launched their own smartwatches, with more on the way, including the Asus ZenWatch.