“One of the biggest questions among Apple Inc. shareholders is how the company will produce future growth in the face of slowing iPhone sales,” Danny Vena writes for The Motley Fool. “The iPhone isn’t Apple’s only product, however, and the company still has several compelling opportunities to generate future growth, albeit on a somewhat smaller scale.”

“The wearables market is one such opportunity. Growth in the industry is expected to average 20% in each of the next five years, according to a report by technology research firm CCS Insight. The largest portion of that market is smartwatches,” Vena writes. “As many as 71 million smartwatches are forecast to be sold in 2018, and that number could double to 140 million by 2022, resulting in a wearables market worth an estimated $29 billion.”

“Apple is the single biggest player in the smartwatch market,” Vena writes. “Apple reportedly sold 18 million Watches in 2017, up 54% year over year, according to estimates by industry research company Canalys. If those estimates are correct, Apple generated more Watch sales than the entire Swiss watch industry — more than Rolex, Omega, and Swatch combined. ‘Apple has become the market leader for smartwatches. Sales volumes have exceeded expectations and the introduction of a cellular-enabled model has pushed up the value of its sales, which we estimate at $5 billion in 2017,’ according to George Jijiashvili, senior analyst for wearables at CCS Insight.”

Read more in the full article here.

MacDailyNews Take: We love our Apple Watches. On our wrists every day since April 24, 2015!

The Apple Watch is going to flop.Mark Wilson, March 2, 2015

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