It implies technology that a person can wear - one that is close to the body, intimate, and personal. It can also be a fashion statement, something used to express one's personality. In reality, man has been wearing technology for millennia. A pocket watch was the wearable technology of the 19th century, as were wrist watches, pagers and flip phones in the 20th century.
Wearables as a Service is the next big thing. Miniaturization has brought about an entirely new horizon of wearable technology. Fitness trackers, smart watches, cognitive wearables, and glasses with retina displays. Ultimately, the latest wave of wearable technology is as much about putting computers on your body as it is connectivity, and changing the way we live and interact.