Apple Watch to nab over half the smartwatch market, researcher predicts

Apple Watch to nab over half the smartwatch market, researcher predicts

Apple's upcoming wearable is expected to ship more than 15 million units worldwide this year, according to Strategy Analytics

Apple Watch will lead the smartwatch market this year, according to Strategy Analytics.Apple

The highly anticipated Apple Watch will soon dominate the smartwatch market, says research firm Strategy Analytics.

Apple will ship 15.4 million Apple Watch units in 2015, giving the company 54.8 percent of the global smartwatch market. All other smartwatch makers combined will ship just 12.7 million units in 2015, according to the forecast. Strategy Analytics believes the Apple Watch will ignite the wearables space, saying total worldwide smartwatch shipments will jump 511 percent, from 4.6 million in 2014 to 28.1 million this year.

"The Apple Watch is the catalyst to ignite the global smartwatch market," Strategy Analytics Executive Director Neil Mawston said in a statement Thursday. "Apple's famous brand, loyal fan base, deep retail presence and extensive apps ecosystem will ensure healthy uptake for its Watch."

The Apple Watch is expected to be the main attraction at a special event that Apple is hosting on Monday. At the event, which will kick off at 10 a.m. PT, Apple is expected to announce final details about the device, including pricing across all models and the date it will go on sale. Apple CEO Tim Cook recently let slip that the Apple Watch will ship in April, and recent reports suggest the company is on track to hit his target date.

Tune in to CNET's Apple event live show and blog at 9 a.m. PT on March 9.

The Strategy Analytics study comes as theMobile World Congress in Barcelona, a major trade show for the smartphone industry, winds down. The event played host to a wide range of smartwatch announcements. Notable phone makers including Huawei and LG unveiled their own smartwatches that are set to hit store shelves this year. And some analysts, including Strategy Analytics, believe that despite a blockbuster arrival, Apple might have some stiff competition down the road.

"Apple's first-generation Watch is not yet perfect," Mawston said. "For example, Apple's Watch hardware design is arguably less attractive than some rival models such as the Huawei Watch, battery life may not be as long as many traditional wristwatch owners are used to, and Apple's premium pricing may be challenging for mass-market consumers. Apple will need to upgrade tangibly its second-generation Watch to stay ahead of competitors later this year."