This is a bit of a surprise for those who didn't even know that fitness bands have been on the market but Caddy believes that these high-end bands are already on the verge of disappearing.

"I've seen the fitness band market evolve over the last few years but I don't think it's going to last much longer in terms of the $100 bands."

Talking to Computing there will be a shift into products that can compute multiple functions or into clothing.
Caddy said that the wearable space interests him, and is something that Virgin Active is keeping its eye on, but he believes that it's an immature market.

He has called for the bigger technology vendors to sit down and agree a set of standards to benefit consumers.

"What I'd like to see is some of the big guys like Samsung, Apple and Google really come up with some standards because there aren't really many standards in this space - a heart rate monitor on one device is different to another so I think it's quite difficult for a consumer to use these devices in a really productive way," he said.