Global Smart Ring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Smart Ring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Smart ring is a new wearable smart device, which combines technology with health. Smart rings are usually the size of traditional rings. Users can manage applications and make phone calls through gesture control. Connect the mobile phone to inform users of incoming calls and short messages. At the same time, it can record real-time data such as exercise, sleep and heart rate in daily life, and guide healthy life through data. Smart ring with near-field communication has the functions of mobile payment, unlocking the door lock, starting the car and so on.

Market Overview:

The latest research study on the global Smart Ring market finds that the global Smart Ring market reached a value of USD 232.98 million in 2022. It’s expected that the market will achieve USD 1145.54 million by 2028, exhibiting a CAGR of 30.4% during the forecast period.

COVID-19 led to a slowdown in market growth

The new coronavirus has been considered a pandemic by the World Organization, and few countries can escape its effects. At present, the world's major consumer and production countries, such as the United States, Japan, the United Kingdom, and so on, are all trapped in the mire. Although isolation measures were not taken immediately in order not to affect economic development, the growing severity of the epidemic has affected the normal production of enterprises, as well as consumption, imports and exports between countries. Under the influence of COVID-19, the smart ring market will keep growing in 2020, but its growth rate will be lower than that in previous years.

COVID-19 affects logistics distribution and offline dealer revenue

Influenced by Covid-19, the business hours or services of most agents selling smart rings have changed. With the epidemic becoming more and more serious, cross-border logistics services and flights in the European Union and the United States have been affected to a certain extent. Transportation has become a big problem, and the speed of logistics distribution has slowed down. At the same time, the offline sales stores are affected, the flow of people is reduced, the performance is lowered, and the income is affected.

Multifunctional and easy to operate

Its built-in Near Field Communication (NFC) and Bluetooth functions can be matched with some auxiliary hardware facilities to achieve things such as unlocking computers, unlocking door locks and opening doors. Some rings have a mobile payment function, which makes payment easier and more convenient. Smart ring has a gesture control function, which can control gestures when operating connected electronic devices. Smart rings are small, flexible and convenient, which makes them their own advantages in the face of competition from other smart wearable devices.

Market segments have broad demand

According to the market segments of sports enthusiasts, elderly people, women and other groups, the future development prospects are still relatively broad, and the industry development direction will gradually aim at different groups of markets, understand customer needs and develop different types of products. With the rapid innovation of smart technology, smart rings will show new vitality in generating in the future.

Product development is difficult.

For the emerging smart ring field, more capital and technical resources need to be invested in the early stage of product technology research and development. Industry barriers are high, and enterprises with resource advantages in smart wearable devices may occupy a large market share and have advantages in product development and competition.

Region Overview:


Geographically, North America held the largest market share - 48.2% in 2021.

Company Overview:

Oura is one of the major players operating in the Smart Ring market, holding a share of 52.69% in 2021.

Oura

Oura is a Finnish health technology company, the most famous of which is Oura Ring, which is an intelligent ring for tracking sleep and physical activity. The company was founded in 2013 by Petteri Lahtela, KariKivelä and Markku Koskela. The company is headquartered in Oulu, Finland.
The company uses advanced sensor technology and an application to provide accurate and personalized information to its users. In 2020, Oura Health Ltd won the Best Consumer Health Company award from UCSF Digital Health Awards.

Kerv Wearables

Kerv is a technology company that develops electronic payment technology. The company developed Kerv, a contactless payment ring that can replace wallets and debit cards. Kerv users can make payments wherever the contactless payment symbol is displayed in the world without using a card, PIN, signature, bank account or smartphone.
It's a self-service work technology that can be used without pairing with a smartphone. Kerv is made of aerospace-grade zirconia technical ceramics, black or white on the outside and a variety of colors on the inside. In addition, the technology is waterproof, so users do not need to remove it when entering the pool.

Segmentation Overview:

Among different product types, Bluetooth segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Online, with a market share of 52.84% in 2021.

Key Companies in the global Smart Ring market covered in Chapter 3:

Token
TheTouch X
LYCOS
Jakcom Technology
KEYDEX
Nod Labs
e-Senses
Genki Instruments
Vigofere Oy
Kerv Wearables
Origami Labs
SLEEPON
McLear Ltd
Oura

In Chapter 4 and Chapter 14.2, on the basis of types, the Smart Ring market from 2018 to 2029 is primarily split into:

NFC
Bluetooth

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Smart Ring market from 2018 to 2029 covers:

Offline Channel
Online Channel

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)