While the smartwatch market slowed down in the third quarter, the overall wearables market grew 3.1 percent year over year, according to data from the International Data Corporation.

Total wearables shipments reached 23 million in the quarter, of which basic wearables, primarily comprised of fitness bands, accounted for 85 percent. Let us take a look at the top five vendors in the wearable market.

CEO and President of Samsung JK Shin presents the new Samsung Gear Fit during the Mobile World Congress 2014 in Barcelona, Spain, February 24, 2014. [Photo/VCG]

No 5 Samsung

Shipment: one million units

Market share: 4.5 percent

Year-on-year growth: 89.9 percent