According to reports, Apple has filed for the “iWatch” trademark in Japan, validating previous rumors regarding a wearable technology in the not so distant future from the Cupertino company.

According to Bloomberg, the patent was filed last June 3 with the Japan Patent Office and the application was made public last week.  Apple is said to be arming itself as its fiercest competitor, Samsung, is also readying a smartwatch.

But Apple and Samsung aren’t the only ones looking at the wearable technology market, as Microsoft was reported to have placed orders for 1.5-inch displays.  Sony also recently announced that the second version of its SmartWatch will be available in September, which will act as a second screen for your Android device as well as allow users to answer calls, take a photo, access Facebook and Twitter, and provide the longest battery life of any other smartwatch currently available.  LG and Google are also rumored to be releasing their own smartwatches some time this year or next year.

Why are Watches all the rage?

The question now is, why is wearable technology gaining so much attention from phone manufacturers and what would it take for a wearable device to be a success?

Joining Kristin Feledy in this morning’s NewsDesk is SiliconANGLE Contributing Editor John Casaretto with his Breaking Analysis on the Smartwatch War.

“Wearable technology is something that’s coming up,” Casaretto says.  “Technology devices are becoming more and more personal, so more and more of your life is integrated with these devices and you can take more of it with you.

“It’s more than just a phone, transformation has been going on for some time, that’s what we’re seeing here.   The other thing is the industry is looking for another breakout product.  Smartphones have been around for a while, despite all of the competition, all of the developments on the phones, there’s some indication that smartphone market is slowing down.  A lot of anticipation to develop something new and I think this is the next frontier,” Casaretto stated.

Sony seems to be at the forefront of the Smartwatch race, given the fact that it has already announced when its SmartWatch 2 can be expected.  According to Casaretto, Sony may have the edge in this market, but that remains to be seen if the company has learned from its past attempts at smartwatches.

For more of Casaretto’s Breaking Analysis on the Smartwatch War, check out the NewsDesk video below: