Broadcom, a US-based semi-conductor firm, has expanded its WICED (wireless internet connectivity for embedded devices) portfolio in order to integrate NFC, Bluetooth, Wi-Fi and location technology into wearable devices.

The expanded portfolio, dubbed WICED Direct, is designed to enable original equipment manufacturers – through the addition of Wi-Fi – to rapidly develop wearable products that communicate seamlessly to the cloud via smart mobile devices.

Moreover, the product should simplify the implementation of internet connectivity into a wider range of consumer devices. In doing so, this opens up opportunities for a new range of devices and products, including health sensors and applications.

Quoting figures from Juniper Research, Broadcom believes the market for connected wearable components is likely to exceed $1.5 billion by 2014. Nearly 15 million wearable smart devices are expected to be sold this year, reckons Juniper, and nearly 70 million by 2017.

In a recent interview with AllThingsD, Broadcom’s chief executive, Scott McGregor, said that big-name brands – such as Apple and Samsung – may not dominate the wearable computing market in the way they have with smartphones.

“There aren’t two manufacturers that make all the jewelry on the planet,” McGregor said.

McGregor anticipates “a significant number of wearables” coming to market with Broadcom silicon in them.