Apple has finally unveiled its new smartwatch collection, which will range from US$349 (€324, £231) to US$17,000 (€15,800, £11,300) and is being hailed as a game-changer for the wearable tech sector.

Launches of wearables from tech giants such as Apple have the potential to revolutionise the fast-growing market and “reshape the way people think,” according to a recent report, which predicted that shipments of smart wearables would grow from 9.7 million in 2013 to 135 million in 2018.

At a press event held in San Francisco, US, Apple unveiled a traditional model and a basic aluminium-based sport-branded version of the Apple Watch. With all available models, the Apple Watch will have 38 different variations based on either an aluminium, steel or gold-cased version. The higher end editions will include more storage space and might allow some of their parts to be upgraded at a later point in time.

According to Apple chief executive, Tim Cook, the smartwatch will last typically 18 hours between charges and will take 2.5 hours to fully charge. Cook also said that thousands of apps have already been created for the device.

From a health and fitness perspective, the Apple Watch features photo sensitive sensors on its back to help record pulse information, while WiFi allows GPS usage to keep track of movement, pace and distances travelled. The watch also includes an accelerometer to measure total body movement, as well as the quality and intensity of movements made.

The watch includes two specific health and fitness apps: Fitness and Workout. The Fitness app will keep track of all of your movements through an all-day fitness tracker, with users given three dedicated rings on display to help them improve their daily activity levels. The other Workout application helps all types of fitness enthusiasts to plan activities and display workout metrics in real-time on their wrist-piece.

One drawback for the device is to provide many of its functions; including GPS tracking, receiving phone calls and transmitting messages, the Watch requires its owner to have an iPhone 5 or more recent Apple handset.

20 million units have been forecast to be sold by the end of the year, though that number could fluctuate anywhere between 8 million and 60 million units, according to a range of analysts. The device will go on sale on 24 April.