The Apple Watch is set to be the best-selling wearable device to date, with Apple having asked Asian suppliers to make between 5 million and 6 million units of the device.

Quanta Computer, a Taiwan-based company that is the assembler of the Apple Watch began mass production of the device earlier this year to get ready for its launch. It is projected that the Apple Watch could sell as many as 20 million units this year alone.

"The Apple Watch will be instrumental in taking the wearables market to the next level of growth," said CCS Insight chief of research Ben Wood. "If successful, it'll create a rising tide that will lift the whole market."

The prediction that the device could sell 20 million units is certainly a little higher than other predictions, which range between 12 million and 15 million. It is important to remember that this 5 million to 6 million forecast is only for the launch of the device, and it is almost certain that Apple will sell more units as the year goes on.

Apple will adjust its production plans as time goes on based on sales. In fact, Apple is pegged as being the company that adjusts its production plans faster than any other company in tech, allowing Apple to maximize profit.

Apple is offering three versions of the Apple Watch: the Apple Watch Sport, the regular Apple Watch, and the Apple Watch Edition. These devices range in prices, starting at $349. The price tag of the Apple Watch Edition has not yet been revealed, but with its 18-karat gold casting, it is pegged at being between $1,000 and $5,000.

While the Apple Watch is not the first smartwatch on the market, it will be the most successful, almost right away. Motorola, LG and Pebble have all come out with devices of their own, but none of these have attracted the attention of the consumer market, with sales being mostly limited to the tech-minded. The Apple Watch will likely change that, putting smartwatches in the mind of the consumer.

"The current love affair affluent U.S. consumers have with the iPhone guarantees a strong start for the Apple Watch in its home market," continued CCS Insight. "However, if sales of the Apple Watch fail to meet expectations, it could hurt the whole smartwatch market."

The Apple Watch will be the company's first all-new product since it released the iPad in 2010.

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