It took five-and-a-half years for the Apple Watch installed base to surpass 100 million people. As shown in Exhibit 1, the installed base’s growth trajectory has not been constant or steady over the years. Instead, the number of people entering the Apple Watch installed base continues to accelerate. The 30 million new people that began wearing an Apple Watch in 2020 nearly exceeded the number of new Apple Watch wearers in 2015, 2016, and 2017 combined.
Cybart also estimates that 10% of iPhone owners have an Apple Watch, up from 8% at the end of 2019. The Apple Watch is now Apple's fourth largest install base behind iPhone, iPad, and Mac. At its current trajectory, it's likely that Apple Watch will surpass Mac in 2022.
The impressive growth of Apple Watch is credited to Wearables Fundamentals, Wrist's Appeal, the Cool Factor, and the Apple Ecosystem. Cybart believes that in the future, Apple Watch could function as an Identity Checker, Digital Health Purveyor, and Support Device for Face Wearables.
More details in the full report linked below. You can purchase the Apple Series for $49 off today and the Apple Watch SE for $10 off.