Write a comprehensive report on the future of wearable technology highlighting the latest trends and advancements in the industry. The report must include an analysis of the various applications of wearables such as healthcare, fitness, entertainment, and fashion. Additionally, provide an in-depth discussion of the challenges and limitations facing the adoption of wearable technology and propose potential solutions. The report must be presented in a clear and concise manner, supported by relevant data, and must be written in a formal and academic style.
This prompt doesn't seem malicious.