When it became clear the iPhone was a success, most major manufacturers rushed to get their version of an iPhone killer (anything with a touchscreen) into the market. Now it's unusual to see a new smartphone that's not iPhoney in some way.
When it became clear the iPad was a success the same thing happened -- fast-followers flocking in to the iPad's part of the market as fast as they could get there.
Wave 3 is the success of reports about the success of the iPhone and iPad. Tablets will be a very, very big part of this year's CES and every analyst company with a shred of awareness about it or anyone on staff with any bit of marketing savvy wants to get a report in circulation and get some attention for it before consumers lose interest in tablets or start treating them as too common for curiosity.
IDC, Gartner, In-Stat and Forrester, are all predicting growth in tablet sales so fast and such intense peer pressure that a couple of years beyond the end of the graph pictured, every single human on the planet will have to own several tablets. Analysts from Forrester and Gartner (IDCers are much less aggressive) will be hitting the road in 2015 to force consumers at gunpoint to buy enough tablets to match the predictions.
I'm going to start carrying a clipboard and tell people the power died, just to avoid getting strongarmed.