The latest report charting the wearables market has suggested that the sector is in “good health” – and that there are signs that the focus and demand of consumers is increasingly shifting towards wellness tech.

According to the Worldwide Quarterly Wearable Device Tracker report, by International Data Corporation (IDC), the global wearables market reached a new all-time high as shipments reached 33.9 million units in the fourth quarter of 2016, growing by 16.9 per cent year over year.

In the report, IDC states that in the past few months, two major app platforms, WatchOS and Android Wear, have pivoted towards fitness and health applications, as the ability for apps to run third party apps has “taken a backseat”.

"Like any technology market, the wearables market is changing," said Ramon Llamas, research manager for IDC's Wearables team.

"Basic wearables started out as single-purpose devices tracking footsteps and are morphing into multi-purpose wearable devices, fusing together multiple health and fitness capabilities and smartphone notifications. It's enough to blur the lines against most smart wearables, to the point where first generation smartwatches are no better than most fitness trackers.

"Meanwhile, smart wearables are also evolving. Health and fitness remains a major focus, but once these devices become connected to a cellular network, expect unique applications and communications capabilities to become available. This will also solve another key issue: freeing the device from the smartphone, creating a standalone experience."

The report also identifies the five largest players in the wearable market as FitBit, Xiaomi, Apple, Garmin and Samsung.