“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

SEE ALSO:
Apple Watch sets new all-time record for wearables shipments; ‘Apple has won the wearables game’ – analyst – February 7, 2018
Apple Watch sales momentum is growing; unit sales now rival those of Macintosh – January 23, 2018
Apple Watch Series 3 shipments predicted to rise to 23-25 million in 2018 – December 14, 2017
Apple Watch: The war for wearables is over, and Apple won – December 12, 2017
Canalys estimates Apple shipped 3.9 million Apple Watch units in Q317, despite strong demand outstripping supply – November 14, 2017
Two weeks with Apple Watch, leaving iPhone at home – November 10, 2017
When Apple Watch surpassed iPod – November 8, 2017
Ten days in with Apple Watch Series 3: I’m amazed by how quickly it integrated into daily life – October 19, 2017
Why Apple Watch Series 3 is a game changer – October 19, 2017
First week with Apple Watch Series 3 (GPS + Cellular): Connectivity makes for a truly smart watch – October 9, 2017
Macworld reviews Apple Watch Series 3: The wearable leader runs out to an insurmountable lead – October 6, 2017
Jim Dalrymple reviews Apple Watch Series 3: ‘Do yourself a favor and get one’ – September 20, 2017
Wired reviews Apple Watch Series 3: ‘For the first time ever, I love the Apple Watch’ – September 20, 2017
9to5Mac reviews Apple Watch Series 3: Unlocks new potential with LTE, dramatically improved Siri – September 20, 2017
Ming-Chi Kuo: Apple Watch Series 3 LTE models selling much faster than expected – September 18, 2017
Why the carriers must drop the Apple Watch LTE connectivity tax – September 15, 2017
How much Apple Watch Series 3 data plans will cost on Verizon, T-Mobile, AT&T, and Sprint – September 14, 2017
Apple Watch, the world’s best-selling watch, can now work without an iPhone – September 12, 2017
New Apple Watch Series 3 delivers built-in cellular with powerful new health and fitness enhancements – September 12, 2017