Global Smart Rings Market Report and Forecast 2024-2032

Global Smart Rings Market Outlook

The global smart rings market size is projected to grow at a CAGR of 21.00% between 2024 and 2032.The major drivers of the market include increased awareness about the various advantages of smart rings and rising demand for health and fitness tracking devices.

Key Trends in the Global Smart Rings Market

A smart ring is a wearable electronic device equipped with NFC chips and sensors, used as a peripheral tool for supporting mobile devices and daily tracking activities including recording activity levels, speed, endurance, heart rate, and stress. Other practical applications of smart rings include online security, access control, and digital payments, among others.

• Growing adoption of electronic devices including smart phones and tablets among other appliances and rising demand for wearable technologies owing to the convenience, connectivity, and functionality offered by them, including fitness tracking and heart rate monitoring is fuelling the smart rings market demand.

• Technological advancements such as development of better sensors and battery with longer life is expected to enhance the efficiency and capabilities of smart rings. Accurate sensors and improved charging are expected to boost user experience resulting in wider adoption of smart rings across the globe.

• Rising collaborations between smart rings manufacturers, smartphone manufacturers, health and fitness companies, and online payment providers are offering lucrative growth opportunities to the market. Such collaborations are increasing the consumer awareness about the various advantages and applications offered by the smart rings.

Global Smart Rings Market Analysis

Based on product type, the market is divided into android, IOS, windows phone, and compatible systems. By application, the market is classified into health and movement, device control, and communication, among others. On the basis of sales channel, the market is bifurcated into online and offline. By region, the smart rings market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• McLear Ltd

• Jakcom Technology Co., Ltd.

• Nimb Inc.

• Oura Health Oy

• Ringly Inc.

• The Touch X s.r.o.

• RajMall Inventives Private Limited

• Sleepon

• Tokenize Inc.

• Ultrahuman Healthcare Pvt Ltd.

• Others

Global Smart Rings Market Share by Product Type

Android is anticipated to account for a significant smart rings market share owing to the increasing number of android users across the globe. Android phones are found to be most compatible with the peripheral and wearable electronic devices and are available in varied price ranges, boosting the segment growth. Availability of customisation options with third party applications have further boosted the demand for android devices from consumers around the globe.

Global Smart Rings Market Share by Region

The Asia Pacific is expected to witness significant growth over the forecast period owing to the rising government initiatives to support digitalisation in countries such as India and China. Introduction of flagship digital India programmes among other initiatives is resulting in increased awareness and adoption of smart rings, among other advanced technologies in the region. The smart rings market growth  in the Asia Pacific region is also supported by the rising sale of electronic devices including smartphones, tablets, and smart watches, among others.

Competitive Landscape

McLear Ltd was founded in 2012 and is headquartered in London, United Kingdom. The electronics company is known for designing and manufacturing security systems and electronic smart rings. The company aims to revolutionise wearable technology and ensure safety of individuals while maintaining their anonymity.

Nimb Inc. is a computer and electronics manufacturing company that was founded in 2016 and is headquartered in Delaware, United States. The company uses machine learning for analysing data from personal devices for detecting and predicting emergencies including strokes and heart attacks.

Ringy Inc. was established in 2013 and has its headquarters located in Colorado, United States. The software development company sells refurbished electronic products including tablets, laptops, and smartphones, among other devices.

Other smart rings market key players include Jakcom Technology Co., Ltd., Oura Health Oy, The Touch X s.r.o., RajMall Inventives Private Limited, Sleepon, Tokenize Inc., and Ultrahuman Healthcare Pvt Ltd., among others.

Key Highlights of the Report