Annual revenue of Vuzix Corp APAC 2016-2019

Vuzix Corp. has experienced a significant increase in revenue in the Asia Pacific region from 2016, in which its annual revenue was 490 thousand U.S. dollars. The annual revenue more than quadrupled by 2019, in which the company generated more than two million U.S. dollars in the Asia Pacific region.

Leading brands

Vuzix Corp. is not the only manufacturer of wearable technology which has seen success in the Asia Pacific region. South Korea’s Samsung offers smart watches and fitness trackers. The electronics company has amassed huge revenues in the Asia Pacific region throughout the past seven years. Apple, Xiaomi, and Huawei are all leading wearable technology brands within Asia Pacific, with the latter being one of the largest wearable device manufacturers globally.

The rise of wearable technology in Asia Pacific

Many consumers across the Asia Pacific region have followed the smart wearables trend, with many choosing to purchase wearable technology for health reasons. Interestingly, among Asian consumers who had purchased a smart watch, the majority stated workout tracking, and heart rate monitoring were their most used functions. Australia also saw a rise in consumers wearing health devices from 2014 onwards. Asia Pacific is renowned for its innovativeness, subsequently, a likely reason for the success of wearable technology is its citizens wanting to engage with the latest technology trends. Asia Pacific countries such as China, are famed for their technology-consuming cultures, which undoubtedly fuel the wearable technology market throughout the region.

Annual revenue of Vuzix Corp. in the Asia Pacific region from 2016 to 2019

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Source

Release date

March 2020

Region

APAC

Survey time period

2016 to 2019

Special properties

figures based on ship-to destinations

Supplementary notes

Figures have been rounded.

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Statistics on "Smart wearables in Asia Pacific"

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