Smart Watch and Smart Ring LED Market size was over USD 819.4 million in 2024 and is estimated to reach USD 1.59 billion by the end of 2037, expanding at a CAGR of 5.7% during the forecast timeline, i.e., 2025-2037. In 2025, the industry size of the smart watch and smart ring LED is estimated at USD 866.1 million.
The growing adoption of IoT devices helps to expand the ecosystem of smart devices, including watches and rings. Thus, the demand for wearable systems with personalized features and multi-functionality has increased. This has further inflated the demand for premium-quality display components due to their operational convenience while using them.
The integration of IoT has also resulted in the easy availability through online platforms made to retail for the smart watch and smart ring LED market. Besides the health monitoring features, global leaders are now also focusing on making these devices suitable for fashion trends. This has further led to an increment in demand for more stylish and personalized displays. Wearables are now being customized to appeal to a broader range of customers by incorporating stylish designs, interchangeable bands, and advanced features. For instance, in February 2023, Noise launched NoiseFit Halo Smart Watch with an AMOLED display of 1.43 inches and a 466*466-pixel screen resolution. The watch offers an immersive viewing experience with an attractive design and palm control features.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.7% |
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Base Year Market Size (2024) |
USD 819.4 million |
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Forecast Year Market Size (2037) |
USD 1.59 billion |
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Regional Scope |
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LED Type (Micro-LED, AMOLED, NIR LED, SWIR LED)
In smart watch and smart ring LED market, AMOLED segment is poised to capture over 58.2% revenue share by 2037. These solutions offer vibrant displays and energy efficiency in wearable devices, featuring heart rate monitoring and step counting. Such advantages have further led consumers to invest in wearables that track calorie burning, heart rate, sleep quality, and blood oxygen levels. For instance, in September 2024, Amazfit launched the Amazfit T-Rex 3 smartwatch at the IFA Berlin trade event. The new design features a 16% larger and 100% brighter AMOLED display, featuring military-grade durability, cutting-edge outdoor navigation, and unparalleled battery life.
Product Type (Smart Watch, Smart Ring)
Based on product type, the smart watch segment captured a significant share of the smart watch and smart ring LED market by the end of 2037. The growth is driven by smart features such as connectivity with other devices, health & fitness tracking, notifications, and mobile payment capabilities. These watches are increasingly being used by public authorities to prevent chronic conditions by monitoring with real-time data, inflating the demand for specific LEDs. For instance, in August 2023, the FDA approved Samsung’s Irregular Heart Rhythm Notification (IHRN) feature to reduce the risk of stroke, heart failure, and other cardiovascular complications. The new watch analyzes heart rhythms suggestive of atrial fibrillation (AFib) monitored from the wrist in the Health Monitor app.
Our in-depth analysis of the global smart watch and smart ring LED market includes the following segments:
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LED Type |
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Product Type |
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APAC Market Statistics
Asia Pacific in smart watch and smart ring LED market is projected to hold more than 37.4% revenue share by 2037 due to the positive response towards advancements in healthcare. Developing countries including Japan, China, India, and South Korea are focusing on introducing and implementing new technologies to reduce the increasing prevalence of health issues. The wearables are specially designed to obtain data directly from the user’s wrist or finger, which is crucial for maintaining good health. This has further influenced companies to create innovative displays and LED signaling systems to integrate these devices. The growing emphasis on delivering improved performance is encouraging leaders to introduce energy-efficient LEDs for long battery life.
India is showing great opportunities for domestic tech leaders to generate great revenue from the smart watch and smart ring LED market. The growing adoption of these wearables has created opportunities for companies to integrate fashionable displays and LED panels, solidifying their position in the global landscape. For instance, in March 2023, boAt launched Lunar Connect Pro and Lunar Call Pro to enter the premium segment of wearables. The new series features large AMOLED displays with chipsets that perform faster and offer futuristic appeal.
China has created a large consumer base for the smart watch and smart ring LED market by holding some of the largest electronics manufacturers including Xiaomi, Oppo, and Honor. These companies offer a wide range of affordable wearable tech, encouraging leaders to increase production. For instance, in September 2024, BOE announced an investment of USD 14.0 billion to double its production of new-generation semiconductor displays. The company aims to expand its presence in the OLED display sector for electronics including smartwatches.
North America Market Analysis
North America shows great opportunity for portfolio expansion for global leaders in the smart watch and smart ring LED market. The extensive use of smart wearables has inflated the need for cost-effective and high-tech displays and LED components to cope with the increasing demand. According to a Research Nester report published in 2024, North America is expected to hold the largest share of 38% in the global smartwatch industry by the end of 2037. Such an enlarged marketplace for smart wearables is further inflating the demand in the LED display sector. Many domestic tech leaders including Apple are now investing more in integrating premium and energy-efficient displays such as AMOLED and OLED.
The U.S. is fostering great potential for growth in the global smart watch and smart ring LED market by utilizing the country’s increasing usage of wearables for health monitoring devices. According to a study conducted by NLM in December 2020, 43% of wearable users tend to utilize heart rate monitoring, calories burned, and step-counting features. Thus, the tech leaders are now proactively investing to import high-quality display components including LED panels to offer its large consumer base premium models.
Canada is also paving the way for garnering great profit margins for the global leaders in the smart watch and smart ring LED market due to increasing demand for smart wearables. This creates an opportunity for LED manufacturers to intervene in such a growing marketplace by introducing their advanced display panels. In addition, the country is fostering scope for premium smartwatch and ring suppliers around the world to expand their luxury portfolio in this segment. This is further influencing LED makers to outstretch their reach overseas.
The current dynamics in the market are evolving by incorporating advanced technologies such as biosensors in the wearables. Tech leaders are increasingly implementing precisely engineered LED panels to make their displays stand out in the global competition. This has further led to innovation in this sector. Governments are also taking part in promoting the health benefits of these devices to consumers. For instance, in October 2024, NHS released a 10-year plan to distribute health-monitoring smartwatches to millions of people having risk of chronic diseases such as diabetes and cancer. This further inspires global leaders to expand their supply chain across the world. Such key players include:
Author Credits: Abhishek Verma
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