Qualcomm has announced the Snapdragon Wear 2100 processor for next-generation Android Wear. The new processor will bring a number of benefits to the upcoming wearable devices.

Qualcomm Snapdragon 400 processor powers the majority of the Android Wear devices available in the current market. On Thursday, Qualcomm announced the Snapdragon Wear 2100, which will replace Snapdragon 400.

The SoC itself is about 30 percent smaller, which means that wearable device makers could enhance their devices to look thinner.

The chipmaker says that the latest Snapdragon Wear 2100 also uses less power, which is a welcome improvement as many existing smartwatches do not offer long battery life.

"The processor uses 25 percent less power, extending the wearable's battery life and offering manufacturers more freedom to innovate in features and design," says Qualcomm.

The new processor has integrated sensor hub, which enables richer algorithms with greater accuracy than the Snapdragon 400. It likewise includes a built-in Wi-Fi and LTE and GNSS for always-connected wearables.

The chipmaker already has at least one wearable maker that has come on board for using the new Snapdragon Wear 2100 in its future wearables.

"We are delighted about Qualcomm Technologies' next generation wearable plans, are planning to extend our collaboration with the new Qualcomm Snapdragon Wear 2100 processor, and look forward to launching new smartwatches and other wearable devices that bring new and innovative use cases to consumers later this year," says David Yoon, vice president of the wearables division at LG Electronics.

Qualcomm's Snapdragon Wear platform will best suit smartwatches, sport watches, smart eyewear, trackers for elders and kids, and more.

The company will also offer support tools, reference designs and software to wearable makers, which will help them develop sleek smartwatches in the near term.

The chipmaker also confirmed that a number of Snapdragon Wear 2100-powered wearables are already being developed by various companies. In fact the first of the said smartwatches will start to hit the shelves in the second half of 2016.

The wearable market has been growing rapidly in the last few years. An International Data Corporation report predicts extensive growth in the worldwide global market in the next few years.

"The worldwide wearable device market will reach a total of 111.1 million units shipped in 2016, up a strong 44.4 percent from the 80 million units expected to ship shipped in 2015. By 2019, the final year of the forecast, total shipments will reach 214.6 million units, resulting in a five-year compound annual growth rate of 28 percent," says IDC.

Undoubtedly, Qualcomm's Snapdragon Wear 2100 will play a vital role in the growth of the global wearable market.