Smart Rings Market Forecasts to 2028 - Global Analysis By Type of Operating System (Microsoft Windows, Android, iPhone Operating System (IoS), Other Types of Operating Systems), Technology (NFC technology, Bluetooth Technology, Other Technologies), Application (Data transfer, User Authentication & Access Control, Monitoring Healthcare System, Mobile/Contactless Payments, Information sharing, Other Applications) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $34.02 BN |
|
Projected Year Value (2028) |
US $117.20 BN |
|
CAGR (2022 - 2028) |
22.89% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Smart Rings Market is accounted for $34.02 million in 2022 and is expected to reach $117.20 million by 2028 growing at a CAGR of 22.89% during the forecast period. A smart ring may be circular, square, or curved in shape and frequently features a tiny screen. Despite the fact that the vast majority of them are waterproof, several of them won't work in extreme conditions, including freezing weather. The battery life of these devices ranges from 3 to 7 days before they require charging.
Market Dynamics:
Driver:
Increasing Acceptance of Cloud Technology
The global market for smart rings is projected to grow as tablets, smartphone, and other smart gadgets become more widely used. In essence, smart rings are electrical gadgets that let users share and store data on their cell phones. Users are storing films, photos, contact information, and other digital data with this technology. Additionally, growing consumer acceptability of cloud services is anticipated to support the expansion of the global market for smart rings. For maximum use, the smart rings work in conjunction with cloud services.
Restraint:
Lack of control on the data generated
Market expansion is hampered by a lack of control over the data that businesses generate with their smart rings. The majority of wearable technology privacy policies state that collected data will be shared with the seller, opening the door for a data breach. Additionally, customers find it hard to accept the utilization of these devices due to data breaches, which has a negative effect on market expansion. On the contrary hand, a major barrier to the market for smart rings is their expensive price.
Opportunity:
Demand for Smart Wearable
The demand for modern smart wearable has increased as the Internet of Things (IoT) becomes more and more significant in daily life. The demand for smart rings is being driven by this. The user of these rings can access messages, phone calls, emails, notifications, unlock cellphones and smart door locks, and make direct payments through their smartphone. As a result, healthcare will become more effective and mobile. These rings will just be able to deliver real-time information like Gps navigation, heart checking, and notifications alert during emergencies. Additionally, the information gathered by these rings can be kept in a cloud-based personal data repository, increasing usage potential. Because the data is controlled through a personal cloud, this also enables users to maintain high standards for data privacy. All of these elements are anticipated to support market expansion during the projected timeframe.
Threat:
Lack of Interest from Big Players
A significant obstacle for the global market for smart rings has been highlighted as the excessive reliance on batteries. Smart rings are difficult to use since charging them via adapters or connections is inconvenient. Additionally, the market is still in its infancy and has a far toward to go before it fully evolves. These factors are preventing several major businesses from investing much in this sector, which has also been identified as a constraining factor.
Covid-19 Impact
The regional market had suffered because of the COVID-19 epidemic. Therefore, the recovery phase is anticipated to last throughout the forecast period as supply chain operations resume as immunization efforts are launched across the region.
The Android segment is expected to be the largest during the forecast period
The Android segment is estimated to have a lucrative growth. In terms of income and volume, the android operating system segment is predicted to gain the highest market share. The main development engine for this market is going to be the ease and affordability of android smartphone. The most common kind of Smart Ring device is Android. It utilises Android OS, a Google-developed Linux-based operating system. The biggest benefit of utilizing an Android phone to create smart ring apps is that it gives you access to the sizable app store where you can create and distribute apps.
The Bluetooth technology segment is expected to have the highest CAGR during the forecast period
The Bluetooth technology segment is anticipated to witness the fastest CAGR growth during the forecast period. Since Bluetooth apps make it simple to connect Bluetooth-enabled connected rings to smartphone, they are expected to become the market leaders. Conversely, WiFi technology is required for NFC-enabled rings to link to smart devices. Due to network issues, not all locations have access to WiFi technology, which limits the application of NFC smart rings.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period. The use of consumer electronics, including wearable, tablets, and smartphone, has increased dramatically over the past several years, driving this local market. Furthermore, it is anticipated that market growth will be aided in the near future by attempts to digitise emerging economies.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The market is growing as a result of expanding wearable device demand and raised health and fitness consciousness. These devices are being adopted more widely as a result of consumers' growing awareness of the health advantages they provide. The creation of inexpensive sensors has contributed to the growth of wearable smart devices. Customers and businesses alike are embracing them more frequently in this area as a result. The leading companies in the Smart Ring market are working together to create new goods and expand their customer base. A growing number of consumers in emerging countries are influence and possibly wearable devices as disposable income rise and infrastructural conditions improve. The market's growth projections have been significantly improved by this.
Key players in the market
Some of the key players profiled in the Smart Rings Market include Mycestro, Mota Group, Inc., Ringly Inc., Oura Health Ltd., Moodmetric, Neyya, VINAYA Technologies, GalaGreat, Jakcom Technology, RHL Vision Technologies Pvt., Fujitsu Ltd., Proxy and McLEAR.
Key Developments:
In January 2018, McLEAR announced the partnership with Bankwest to bring Australia’s first payment ring into the market.
In October 2017, MOTA Group announced a partnership with Affirm so as to offer Pay over Time option to its customers.
Types of Operating Systems Covered:
• Microsoft Windows
• Android
• iPhone Operating System (IoS)
• Other Types of Operating Systems
Technologies Covered:
• NFC technology
• Bluetooth Technology
• Other Technologies
Applications Covered:
• Data transfer
• User Authentication & Access Control
• Monitoring Healthcare System
• Mobile/Contactless Payments
• Information sharing
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Rings Market, By Type of Operating System
5.1 Introduction
5.2 Microsoft Windows
5.3 Android
5.4 iPhone Operating System (IoS)
5.5 Other Types of Operating Systems
6 Global Smart Rings Market, By Technology
6.1 Introduction
6.2 NFC technology
6.3 Bluetooth Technology
6.4 Other Technologies
7 Global Smart Rings Market, By Application
7.1 Introduction
7.2 Data transfer
7.3 User Authentication & Access Control
7.4 Monitoring Healthcare System
7.5 Mobile/Contactless Payments
7.6 Information sharing
7.7 Other Applications
8 Global Smart Rings Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Mycestro
10.2 Mota Group, Inc.
10.3 Ringly Inc.
10.4 Oura Health Ltd.
10.5 Moodmetric
10.6 Neyya
10.7 VINAYA Technologies
10.8 GalaGreat
10.9 Jakcom Technology
10.10 RHL Vision Technologies Pvt.
10.11 Fujitsu Ltd.
10.12 Proxy
10.13 McLEAR
List of Tables
1 Global Smart Rings Market Outlook, By Region (2020-2028) ($MN)
2 Global Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
3 Global Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
4 Global Smart Rings Market Outlook, By Android (2020-2028) ($MN)
5 Global Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
6 Global Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
7 Global Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
8 Global Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
9 Global Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
10 Global Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
11 Global Smart Rings Market Outlook, By Application (2020-2028) ($MN)
12 Global Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
13 Global Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
14 Global Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
15 Global Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
16 Global Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
17 Global Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
18 North America Smart Rings Market Outlook, By Country (2020-2028) ($MN)
19 North America Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
20 North America Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
21 North America Smart Rings Market Outlook, By Android (2020-2028) ($MN)
22 North America Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
23 North America Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
24 North America Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
25 North America Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
26 North America Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
27 North America Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
28 North America Smart Rings Market Outlook, By Application (2020-2028) ($MN)
29 North America Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
30 North America Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
31 North America Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
32 North America Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
33 North America Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
34 North America Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
35 Europe Smart Rings Market Outlook, By Country (2020-2028) ($MN)
36 Europe Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
37 Europe Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
38 Europe Smart Rings Market Outlook, By Android (2020-2028) ($MN)
39 Europe Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
40 Europe Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
41 Europe Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
42 Europe Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
43 Europe Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
44 Europe Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
45 Europe Smart Rings Market Outlook, By Application (2020-2028) ($MN)
46 Europe Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
47 Europe Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
48 Europe Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
49 Europe Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
50 Europe Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
51 Europe Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
52 Asia Pacific Smart Rings Market Outlook, By Country (2020-2028) ($MN)
53 Asia Pacific Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
54 Asia Pacific Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
55 Asia Pacific Smart Rings Market Outlook, By Android (2020-2028) ($MN)
56 Asia Pacific Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
57 Asia Pacific Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
58 Asia Pacific Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
59 Asia Pacific Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
60 Asia Pacific Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
61 Asia Pacific Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
62 Asia Pacific Smart Rings Market Outlook, By Application (2020-2028) ($MN)
63 Asia Pacific Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
64 Asia Pacific Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
65 Asia Pacific Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
66 Asia Pacific Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
67 Asia Pacific Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
68 Asia Pacific Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
69 South America Smart Rings Market Outlook, By Country (2020-2028) ($MN)
70 South America Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
71 South America Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
72 South America Smart Rings Market Outlook, By Android (2020-2028) ($MN)
73 South America Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
74 South America Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
75 South America Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
76 South America Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
77 South America Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
78 South America Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
79 South America Smart Rings Market Outlook, By Application (2020-2028) ($MN)
80 South America Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
81 South America Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
82 South America Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
83 South America Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
84 South America Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
85 South America Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
86 Middle East & Africa Smart Rings Market Outlook, By Country (2020-2028) ($MN)
87 Middle East & Africa Smart Rings Market Outlook, By Type of Operating System (2020-2028) ($MN)
88 Middle East & Africa Smart Rings Market Outlook, By Microsoft Windows (2020-2028) ($MN)
89 Middle East & Africa Smart Rings Market Outlook, By Android (2020-2028) ($MN)
90 Middle East & Africa Smart Rings Market Outlook, By iPhone Operating System (IoS) (2020-2028) ($MN)
91 Middle East & Africa Smart Rings Market Outlook, By Other Types of Operating Systems (2020-2028) ($MN)
92 Middle East & Africa Smart Rings Market Outlook, By Technology (2020-2028) ($MN)
93 Middle East & Africa Smart Rings Market Outlook, By NFC technology (2020-2028) ($MN)
94 Middle East & Africa Smart Rings Market Outlook, By Bluetooth Technology (2020-2028) ($MN)
95 Middle East & Africa Smart Rings Market Outlook, By Other Technologies (2020-2028) ($MN)
96 Middle East & Africa Smart Rings Market Outlook, By Application (2020-2028) ($MN)
97 Middle East & Africa Smart Rings Market Outlook, By Data transfer (2020-2028) ($MN)
98 Middle East & Africa Smart Rings Market Outlook, By User Authentication & Access Control (2020-2028) ($MN)
99 Middle East & Africa Smart Rings Market Outlook, By Monitoring Healthcare System (2020-2028) ($MN)
100 Middle East & Africa Smart Rings Market Outlook, By Mobile/Contactless Payments (2020-2028) ($MN)
101 Middle East & Africa Smart Rings Market Outlook, By Information sharing (2020-2028) ($MN)
102 Middle East & Africa Smart Rings Market Outlook, By Other Applications (2020-2028) ($MN)
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.