A senior Apple Inc. analyst has predicted that though Apple Watch may have a slow start, it will be able to breakout in a couple of years. Gene Munster, Piper Jaffery senior research analyst, has said that Apple's smartwatch will achieve a steady, effective pace in 2017.

According to a report in IB Times, Munster is hopeful that Apple will sell 14 million watches in 2016, with sales increasing to 40 million units in 2017. As of now, Munster estimates that about 3 million Apple Watches were sold in the first quarter of the product's launch.

Meanwhile, going by the results of a poll undertaken by Fortune, Munster's estimates are on conservative side of Apple Watch projections for the quarter -- ranging from 3 million to 5.7 million units. Despite the publication of these predictions, Apple has been keeping silent regarding the details of the Apple Watch's sales performance.

According to the report, things are unlikely to change in the interim, as the Cupertino-based tech giant has put the Apple Watch in its "other products" category in its financial reports. The "other products" also include the revenue from Apple TV, Beats Electronics, iPod as well as accessories.

In fact, factors like the limited availability of the Apple Watch and its slow roll out have been cited as potential hindrances for it, Munster stated. At the time of its launch, Apple Watch was only available via online order in nine countries and markets. Apple started selling the smartwatch in its retail stores since mid-June and that too on a limited basis.

However, all these may change in the coming years provided Apple improves the software as well as features of the smartwatch.

In his research note, Munster wrote, "Our belief in the longer-term value in the watch is driven by the eventual roll out of native apps starting later this year in V2 of the watch software that will have greater and unique functionality compared to current apps that only mirror the iPhone."

Meanwhile, Apple will report the results of its fiscal 2015 third quarter on Tuesday after the bell. After the release of the earnings, the company will hold a conference call to discuss the results. The press meet will start at 5 p.m. EDT/ 2 p.m. PDT.