Few things are as hyped as the Internet of Things (IoT), so why is the wearables developer population shrinking?According to a new VisionMobile report, 21% of IoT developers have near-term plans to develop for the wearables market, down sharply from 28% just six months earlier. See also: The Best Shot At Success For Indie Developers: Go Work For "The Man" While long-term interest in wearables remains high, in the short term, developers seem content to wait for the market to mature.Honey, You Shrunk The DevelopersOver the last year, the wearables market has exploded, with shipments booming 223% between Q2 2014 and Q2 2015, according to IDC.