Smartwatch Display Market Is All Thankful To Apple Watch From Apple Inc. (NASDAQ:AAPL)

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The coming of Apple Inc. (NASDAQ:AAPL)’s Apple Watch has increased the demand for smartwatch displays. The shipment of smartwatch displays is expected to reach record highs this year, according to data published by research firm IHS. Apple Watch alone is expected to account for 49% of all the nearly 34 million smartwatch displays to be shipped in 2015.

The number of smartwatch displays being shipped this year is expected to rise 250% from last year.

According to Hiroshi Hayase, the director of analysis at IHS, Apple Watch has been able to attract a lot of consumer attention that explains the strong demand for the device. Apple Inc. (NASDAQ:AAPL)’s CEO, Tim Cook, had earlier hinted that the progress of Apple Watch sales was positively overwhelming.

Strong market growth

The data from smartwatch display market is a useful indictor of the health of the overall smartwatch market. The expected 250% increase in display shipments this year clearly shows strong growth in the market.

Apple Watch ignites interest in smartwatch

The smartwatch display market data from IHS that shows strong demand for smartwatch display seems to support the earlier research report by Strategy Analytics. The firm predicted that the coming of Apple Watch could significantly boost the overall smartwatch market. Strategy Analytics stated in its report that Apple Inc. (NASDAQ:AAPL) could sell 15.4 million units of Apple Watch in 2015, representing 54.8% of the global smartwatch market.

Combined, makers of wearables that run Google Inc (NASDAQ:GOOGL)’s Android Wear operating system only shipped a slim 720,000 units in 2014.

In the smartwatch market, Apple Watch competes for customer attention with an array of similar products from the likes of Pebble, Motorola, Huawei, Samsung Electronics and Sony Corp (ADR) (NYSE:SNE).

Apple Inc. (NASDAQ:AAPL)’s Apple Watch is available in three versions with the gold edition going for $17,000. Apple Watch can be tied to iPhone to stream music and perform other extension functions.

Source: IHS

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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