Today we are pretty sure that smart watches or glasses with a display are described as wearable technology, but what about enhancing suits?
You know, Tony is literally wearing it...
Short answer: Yes.
Long answer: Wearable tech generally refers to advanced computer-based technology worn on a part of the body and used to seamlessly and intuitively integrate with that part of the body to enhance its capabilities. This allows us to distinguish from, say, ordinary clothing which after all is a product of technology. Common examples are e-watches, health monitoring bands, and Glass.
So, let's look at the Iron Man Armor. The boots and hands give him flight. The entire armor is constantly monitoring his health. The suit gives him enhanced strength and speed. The vision capabilities of the suit are limited to whatever sensors are available on the suit itself, but it likely has sensors for everything from gamma rays to IR and alerts him, so we can safely say his vision is enhanced. If you want to go with the early movies, the power core in his chest literally keeps him alive. All of these things are monitored and controlled with sophisticated integrated computers, while being worn and controlled intuitively. Stark does NOT need to give voice commands every time he wants to take a step or do anything. Instead, the suit is built to detect his actions and respond accordingly.
Thus, I argue that the suit is indeed a wearable.
As Broklynite has stated, the suit performs the following three functions:
This qualifies Tony Stark's suit as a wearable technology.
For a full explanation of wearable technology: