The Latest Wearable Display Industry Statistics Explained
The global wearable display market size was estimated at USD 1.24 billion in 2018.
The statistic indicates that the total market value, or revenue, generated by wearable display products worldwide was approximately USD 1.24 billion in 2018. Wearable displays refer to electronic devices that can be worn on the body and provide visual information or augmented reality experiences to users. This statistic highlights the significant size and economic impact of the wearable display market in 2018, suggesting a growing trend in consumer adoption of such products for various applications such as fitness tracking, smartwatches, and virtual reality headsets. The market size figure serves as a key indicator for investors, businesses, and analysts to assess the growth potential and opportunities within the wearable display industry.
The industry is anticipated to expand at a CAGR of 20.3% in terms of revenue, from 2019 to 2025.
This statistic indicates that the industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.3% in terms of revenue over the period from 2019 to 2025. CAGR is a measure that provides a smoothed annual growth rate over a specified period of time, taking compounding into account. In this case, a CAGR of 20.3% suggests a strong and rapid expansion of the industry’s revenue streams over the forecasted period. This growth rate implies a significant increase in the industry’s overall revenue from the base year of 2019 to the end year of 2025, showcasing promising opportunities and a positive outlook for the industry’s future performance and potential profitability.
Rapid developments in flexible display technologies such as OLED and AMOLED are expected to accelerate market growth.
The statistic suggests that advancements in flexible display technologies, specifically OLED (Organic Light Emitting Diodes) and AMOLED (Active Matrix Organic Light Emitting Diodes), are anticipated to drive rapid growth in the market. These technologies offer advantages such as thinner and lighter displays, vibrant colors, higher contrast ratios, and improved energy efficiency compared to traditional display technologies. As a result, the increasing adoption of OLED and AMOLED displays in various electronic devices like smartphones, tablets, televisions, and wearable devices is expected to propel market expansion and drive innovation in the display industry. The flexible nature of these displays also opens up new possibilities for designing products with curved or foldable screens, further enhancing their appeal to consumers and driving market demand for such advanced display technologies.
Asia-Pacific was the largest market for wearable displays in 2018.
The statistic states that the Asia-Pacific region accounted for the highest market share in the wearable displays industry in 2018. This means that the majority of wearable display units were either manufactured or sold in countries within the Asia-Pacific region compared to other regions around the world. The significant market share in this region could be attributed to factors such as high demand for technology products, thriving electronics and manufacturing industries, and a large consumer base with a growing interest in wearable devices. This statistic highlights the importance of the Asia-Pacific market in the wearable display industry and suggests potential opportunities for businesses looking to expand their market presence in this region.
The OLED segment dominated the global wearable display market in 2018.
This statistic indicates that within the global wearable display market in 2018, OLED (Organic Light Emitting Diode) technology was the leading segment, representing the highest market share compared to other types of display technologies such as LCD or E-ink. OLED displays offer several advantages for wearable devices, including vibrant colors, high contrast ratios, and energy efficiency. As a result, manufacturers of wearable devices likely favored OLED technology over other display options to provide consumers with superior visual quality and battery performance in their products.
The U.S. wearable display market size is expected to reach USD 3.16 billion by 2027.
The statistic indicates that the U.S. wearable display market is projected to grow significantly, with an expected market size of USD 3.16 billion by the year 2027. This suggests a positive trend in the demand and adoption of wearable display technology in the United States over the coming years. Factors driving this growth could include increasing consumer interest in wearable devices such as smartwatches, fitness trackers, and augmented reality glasses, as well as advancements in display technologies that enhance the user experience. Businesses operating in the wearable display market may find opportunities for expansion and innovation in line with this projected market growth.
The rigid type segment dominated the market in 2018 and accounted for a major share of over 90.0% of the total revenue.
The statistic indicates that in 2018, the market was primarily led by the rigid type segment, which captured a significant portion of the total revenue at over 90.0%. This dominance suggests that the rigid type segment held a substantial competitive advantage over other segments within the market, likely due to factors such as consumer preferences, product quality, pricing strategies, or marketing efforts. The high market share achieved by the rigid type segment signifies its strong hold and influence in driving the overall performance and profitability of the market landscape in 2018.
LCD technology was widely used for wearable display applications, accounting for over 60% of the market share in terms of revenue in 2020.
The statistic indicates that in 2020, LCD (liquid crystal display) technology held a dominant position in the market for wearable display applications, representing more than 60% of the total revenue generated in this market segment. This suggests that LCD technology was the preferred choice among consumers and businesses for wearable displays during that time period. The high market share further highlights the popularity and widespread adoption of LCD technology for various wearable devices such as smartwatches, fitness trackers, and augmented reality glasses. This statistic reflects the strong performance and competitive advantage of LCD technology in the wearable display market in 2020.
The smart wearable market could see a shipment of 260.3 million units by 2023.
The statistic indicates a forecasted total shipment of 260.3 million units of smart wearables by the year 2023. This figure provides insights into the expected growth and popularity of smart wearable devices such as smartwatches, fitness trackers, and other wearable technology in the consumer market. It suggests a significant increase in consumer adoption of wearable technology over the next few years, possibly driven by advancements in technology, changing consumer preferences towards health and fitness tracking, and the increasing integration of smart features in everyday accessories. Overall, this statistic highlights the potential for continued expansion and innovation within the smart wearable market in the near future.
Fitness & sports held a significant market share in 2018 and is expected to witness a CAGR of over 21% from 2019 to 2025.
The statistic indicates that the fitness and sports industry held a prominent position in the market in 2018 and is predicted to experience a compound annual growth rate (CAGR) of over 21% from 2019 to 2025. This suggests a strong upward trend in the industry, with significant potential for expansion and profitability over the specified period. The high projected CAGR indicates a growing demand for fitness products and services, likely driven by increasing awareness of health and wellness, technological advancements in the sector, and shifting consumer preferences towards healthier lifestyles. This positive outlook underscores the opportunities for businesses operating in the fitness and sports industry to capitalize on the anticipated growth and gain a competitive edge in the market.
China held the leading position in the global wearable display market in 2018.
The statistic that China held the leading position in the global wearable display market in 2018 indicates that China had the highest market share and sales of wearable display technologies compared to any other country that year. This highlights China’s prominent role in the development and production of wearable display devices such as smart watches, fitness trackers, and AR/VR headsets. The strong performance of China’s wearable display market in 2018 suggests that the country’s manufacturers and designers were successful in meeting consumer demand for innovative and technologically advanced wearable devices, positioning China as a key player in the global technology industry.
According to MarketsandMarkets, the wearable display market size is projected to reach USD 3.37 Billion by 2023.
This statistic indicates a forecasted growth trend in the wearable display market as reported by MarketsandMarkets, with an expected market size of USD 3.37 billion by the year 2023. This projection implies a significant increase in the demand for wearable display technologies, such as smartwatches, fitness trackers, and augmented reality glasses. Factors contributing to this growth may include advancements in display technology, increasing consumer interest in wearable devices, and expanding applications across various industries. The projected market size suggests a lucrative opportunity for stakeholders in the wearable display industry to capitalize on the growing demand and innovation in this sector.
The consumer electronics application dominated the wearable display market in 2018.
In 2018, the dominance of the consumer electronics application in the wearable display market suggests that consumer electronics products such as smartwatches, fitness trackers, and augmented reality devices were the predominant driving force behind the growth and adoption of wearable displays. This statistic indicates that consumers were primarily interested in using wearable displays for applications and functions related to consumer electronics, such as monitoring health and fitness, receiving notifications, and accessing digital information. The popularity of these consumer electronics applications likely played a significant role in shaping the overall landscape of the wearable display market in 2018.
The enterprise and industry application of wearable displays is projected to grow at the highest CAGR from 2018 onward.
This statistic indicates that the use of wearable displays in enterprise and industry settings is expected to experience the highest Compound Annual Growth Rate (CAGR) starting from 2018 and continuing into the future. This growth suggests a significant increase in the adoption and implementation of wearable display technology in business operations and industrial applications. Wearable displays offer various benefits such as hands-free operation, improved efficiency, real-time data access, and enhanced productivity, making them increasingly popular in sectors like manufacturing, healthcare, logistics, and field services. The projected growth in this sector reflects a growing recognition of the potential advantages that wearable displays can bring to enterprise and industry operations, driving their increasing integration and utilization across various sectors.
Wearable display devices are expected to witness the highest growth in the healthcare sector, with a projected CAGR of 33% from 2019 to 2025.
The statistic indicates that wearable display devices are anticipated to experience significant expansion within the healthcare industry, with a projected Compound Annual Growth Rate (CAGR) of 33% from 2019 to 2025. This growth rate suggests a strong positive trend in the adoption and utilization of wearable display devices by healthcare professionals and consumers, driven by factors such as the increasing demand for remote monitoring technologies, advancements in sensor technologies, and the growing importance of real-time data in healthcare decision-making. The rapid growth forecasted for wearable display devices highlights their potential to revolutionize healthcare delivery by enhancing patient care, improving diagnostics, and enabling healthcare providers to make more informed decisions based on real-time data.
North America is projected to hold the second largest market share in the wearable display industry by 2023.
The statistic “North America is projected to hold the second largest market share in the wearable display industry by 2023” refers to the anticipated ranking of North America among regions in the global wearable display market in the year 2023. This projection suggests that North America is expected to be surpassed by another region to hold the top position in market share. The implication is that North America is likely to see significant growth and adoption of wearable display technology, positioning it as a major player in the industry by 2023, albeit not the largest market share holder. This statistic highlights the competitive landscape and growth opportunities within the wearable display market, indicating that North America is a key region driving innovation and acceptance of this technology.
Europe is expected to have the third largest market share in the wearable display industry by 2025.
The statistic “Europe is expected to have the third largest market share in the wearable display industry by 2025” indicates that among all regions worldwide, Europe is projected to occupy the third position in terms of market influence and presence within the wearable display industry by the year 2025. This forecast suggests that Europe is likely to experience significant growth and advancements in wearable display technology, leading to a substantial market share in the industry. It implies a competitive landscape with Europe positioned as a key player in driving innovation, development, and adoption of wearable display devices in the global market.
Revenues from the global wearable display market are expected to reach nearly $22.7 billion by 2022.
The statistic indicates that the global wearable display market is projected to see significant growth, with revenues expected to hit nearly $22.7 billion by the year 2022. This suggests a strong demand for wearable display technologies such as smartwatches, smart glasses, fitness trackers, and other wearable devices with display capabilities. The increasing popularity of wearable technology, driven by factors such as consumer interest in health and fitness tracking, convenience, and connectivity, is likely contributing to this growth. The market’s rapidly expanding revenue forecast demonstrates the ongoing trend towards wearable displays becoming an integral part of consumers’ lives, as they seek more advanced and innovative ways to stay connected and access information on the go.
The smartwatches segment is predicted to lead the wearable display market by 2025.
The statistic “The smartwatches segment is predicted to lead the wearable display market by 2025” indicates that smartwatches are projected to have the highest market share and dominance in the wearable display industry by the year 2025. This prediction suggests that smartwatches will outperform other types of wearable displays such as fitness trackers, smart glasses, and smart clothing in terms of sales, adoption, and innovation. This trend may be driven by factors such as advancements in technology, increasing consumer interest in health and fitness tracking, and the integration of smartwatch features beyond timekeeping, such as notifications, communication, and mobile apps.
Rise in demand for flexible displays in smartwatches and fitness bands is expected to fuel the wearable display market growth by 2023.
The statistic suggests that there is anticipated growth in the wearable display market by the year 2023 due to an increase in the demand for flexible displays specifically in smartwatches and fitness bands. This rise in demand for flexible displays indicates a shift towards more advanced and versatile display technologies in wearable devices, allowing for greater flexibility and functionality in the products. This trend is expected to drive market growth as consumers increasingly seek more innovative and user-friendly display options in their wearable technology, which in turn could lead to further advancements and enhancements in the wearable display market in the coming years.
References
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