Smart Watch and Smart Ring LED Market Share

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.