Apple has applied for an iWatch trademark in Japan, fueling the rumor of an upcoming smartwatch-like device. Other manufacturers are also pursuing the wearable technology market. Google, Microsoft and Samsung are all developing smartwatch-like devices. Sony recently released a newer version of its Android compatible SmartWatch. Sporting good companies, such as Nike, offer watch-like devices that monitor physical activity.

“The trademark application was filed June 3 and made public by Japan’s Patent Office last Thursday,” reports The Wall Street Journal. “The application was filed under a category for a computer or watch device. An official at the Patent Office said the application will be subject to a formal examination process for approval.”

“Apple has been working on a watchlike device that would perform some functions of a smartphone,” notes the article. “Apple Chief Executive Tim Cook said in May at an All Things Digital conference that wearable computing is ripe for innovation, noting that the wrist was a natural place for such an item.”

Wearable technology, such as Google Glass, is regarded as the next area for development in consumer electronics. Wearable devices may not be just accessories to existing devices, but replace them altogether.

ABI Research estimates that 1.2 million smartwatches will be sold globally this year, largely based on improvements to design, functionality and battery life.

“While the opportunity in wearable computing is significant, the hurdles are daunting,” suggests WSJ. “To tap into a mainstream market, companies must overcome limitations in battery life, screen shapes, materials and weight.”

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