CCS Insight report predicts Apple Watch to sell 20 million a year
The Aussie smartwatch market is tipped to explode with the Apple Watch while a global report says the “must-have status symbol” will dominate the market.
Technology
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AN independent report predicts Apple will sell 20 million Apple Watches this year, dominating the smartwatch market and become the catalyst for igniting wearable technology market.
CCS Insight has labelled 2015 the “year that will make or break the smartwatch”, with the launch of the Apple Watch in April making this the “transformative year”.
While fitness trackers in general are predicted to be a strong seller this year, the CCS Insight report says Apple Watch will account for a quarter of all wearable devices this year.
“The highly anticipated smartwatch will create a frenzy of demand, catapulting it almost instantaneously to be the most successful smartwatch ever,” the report says.
The global report is reinforced by Telsyte’s Australian Smartphone & Wearable Devices Market Study 2015 released today that predicts the local smartwatch market will grow by at least 50 per cent this year on the back of the popularity of the Apple Watch.
Telsyte Managing Director Foad Fadaghi said the Australian research shows half of people who currently own a smart fitness band plan to upgrade to a smartwatch.
The Telsyte research shows that more than 800,000 smart wristbands by companies including Fitbit and Garmin were sold in Australia last year.
The Telsyte report predicts the Australian smartwatch market will by more than $400 million by 2018.
The CCS Insight report says sales of wearable technology will jump from 29 million units last year to 172 million units in 2018.
The report says other fitness activity devices, such as those by Fitbit and Jawbone, will also double in sales this year to 40 million units.
The report, while predicting the Apple Watch will become a “must-have status symbol,” warns that if Apple fails with its smartwatch then the smartwatch market as a whole will suffer a crippling blow.
SECRET PLAN: How Apple aims to dominate market
The forecast figures of 20 million Apple Watches sold in the first year comes a day after a leak report that Apple has ordered an initial production run of about 6 million and plans to scale that up to ship 1 million 18-karat gold top of the range Apple Watches a month.
To put that in perspective, one industry figure estimates Rolex sells 600,000 watches a year.
Originally published as CCS Insight report predicts Apple Watch to sell 20 million a year
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