Smart Rings Market to grow by USD 34,402.61 thousand between 2022 - 2027, Driven by Growing digitization of global economy - Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The Smart Rings Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the smart rings market between 2022 and 2027 is USD 34,402.61 thousand. The growing digitization of the global economy drives the smart rings market. Along with developed countries, greater digitization is also observed in developing countries in the APAC and MEA regions. Increasing Internet penetration, a growing number of mobile users, and a growing number of IoT devices are the factors for this. Technological advancements like contactless payment and AI are also being integrated into wearable electronic devices, which likely have a positive impact on the growth of the global smart rings market. Hence, such factors fuel the growth of the market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• The presence of alternatives is one of the key factors challenging the smart rings market growth. A smartwatch is a digital device that offers numerous functionalities, such as making calls, messaging, and health monitoring, by tracking the steps taken, calories burned, heart rate, and sleep patterns. It provides customers with quick access to several apps on their smartphones. The smartwatch market accounts for a major share of wearable technology. Vendors such as Apple Inc. (Apple), Samsung Electronics Co. Ltd. (Samsung), Garmin Ltd. (Garmin), and Fitbit (owned by Alphabet Inc.) are dominant players in the market. Thus, the presence of such alternatives will challenge the market growth during the forecast period. - Explain. Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

The smart rings market is segmented by Technology (Bluetooth-enabled smart rings and NFC-enabled smart rings), Application (Notifications, Security, Payment, Health and wellness, and Data transfer), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The Bluetooth-enabled smart rings segment will be significant during the forecast period. Bluetooth-enabled smart rings cannot be a standalone product and require the integration of a smartphone for complete functionality. Furthermore, various market vendors exist such as Oura Health which offers the Oura ring that can monitor circadian rhythm and sleep cycle. Hence, such factors drive the Bluetooth-enabled smart rings segment of the smart rings market during the forecast period.
• North America will contribute 34% to the growth of the global market during the forecast period. View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the smart rings market:

Circular, Contecto, E SENSES, Fujitsu Ltd., Guangdong Jiu Zhi Technology Co.Ltd, Haltian Oy, iQibla LLC, Jakcom Technology Co. Ltd., MTG Co. Ltd., Nimb Inc., Nuanic Oy, Origami Group Ltd., Oura Health Oy, Rajmall Inventives Pvt. Ltd., Ringly Inc., SLEEPON, Smart Siren Technology Inc., TheTouch X s.r.o., Tokenize Inc., and Ultrahuman Healthcare Pvt Ltd

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ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Technology

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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