According to Forrester Research, Apple will continue to showcase record growth and sales through 2012.

In a Bloomberg interview, Forrester CEO George Colony stated that the spur in Apple’s revenue that began with the iPhone and iPad will continue as customers continue to buy the company’s new hardware, but also apps and new products that go along with them. He said that the company would eventually reach $200 billion in revenue, and sales growth will exceed 50 percent, especially with the expansion of the iPad and the iPhone, reports Eweek.

He added that the expected growth would dwarf in size other big companies such as Hewlett Packett and IBM. HP and IBM are the largest technology companies with revenues last year reaching $126 billion and $99.9 billion respectively. In terms of market capitalization, Apple is number one, reports Bloomberg. According Forrester estimates, Apple could reach $100.3 billion in sales this year.

“They’ll be bigger than IBM next year, and they’ll be bigger than HP the year after that,” Colony said, citing Apple’s 52 percent sales growth last year. At current growth rates, Apple is all set to be a “$200 billion revenue company,” said Colony.

The only challenge that Apple faces, Colony says, is the eventual departure of Steve Jobs as the head of the company. With his health history and multiple medical leaves in the past 7 years, he estimates that Apple probably has a product line up that will last it about 3 or 4 years after Jobs leaves for good.

“Remember, every two years they have to fill that store with new stuff,” he said of Apple’s retail stores. “Without Steve Jobs as the CEO, I think it will be much harder for them to do that. That would be a massive, massive hit to the valuation,” he added to Bloomberg.