Ten years have passed since Tim Cook stood on stage and delivered the iconic phrase: “We have one more thing…” introducing the world to the Apple Watch on 24 April 2015. Since then, Apple has sold more than 275 million Apple Watches, establishing a dominant position in the smartwatch segment and creating an ecosystem rivalled by few, according to an analysis from Canalys.
Apple Watch drives ecosystem loyalty
While 275 million units is a fraction of the 2.2 billion Apple iPhones sold in the same period, the Apple Watch has proven instrumental in building user retention. With the addition of the SE and Ultra models in recent years, Apple has managed to cater to both price-sensitive and premium consumers, expanding its base beyond tech enthusiasts.
A disruptor in the smartwatch space
Apple was not first to the smartwatch market—but it quickly became the most influential. While other smartphone manufacturers now offer wearable devices, few have matched Apple's ability to capture high-value customers and revenue.
Growth slows after 2022 peak
The Apple Watch saw peak shipments in 2022, crossing the 40 million unit threshold for the first time. Since then, demand has softened as consumers see less reason to upgrade annually. However, increased focus on health monitoring features may help reinvigorate growth, especially in emerging markets where Apple is expanding.
Refurbished segment grows steadily
Globally, about 173 million smartwatches were sold in 2022, with refurbished devices claiming an 8% share—or roughly 14 million units. Valued at € 11.5 billion in 2022, the used smartwatch market is expected to more than double to € 24.8 billion by 2032.
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