A smart ring is a wearable electronic gadget that can connect with other smart gadgets like smartphones and tablets. The primary function of a smart ring is to receive notifications for calls, messages, and other apps sent from the users' cellphones. These rings, on the other hand, are now utilized for a variety of other purposes, including health and online payments, fitness tracking, access control and information exchange, and user identification among others.
MARKET SCOPE
The "Global Smart Ring Market Analysis to 2028" is a specialized and in-depth study of the Smart ring Market with a special focus on the global market trend analysis. The report aims to provide an overview of smart ring market with detailed market segmentation by connectivity and operating system. The global smart ring market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart ring market player and offers key trends and opportunities in the smart ring market.
MARKET SEGMENTATION
- Based on connectivity the market is bifurcated as, NFC and Bluetooth.
- Further, on the basis of operating system the market is segmented as, IOs and android.
MARKET DYNAMICS
Drivers
- The increasing adoption of smartphones globally coupled with increasing tech-savvy population is the key driver propelling the growth of smart rings market.
- Increasing trend toward contact-less payment and growing health awareness among the users.
- Technological advancements such as artificial intelligence and smart wearables.
Restraints
- The smart ring market is restrained by higher cost of smart rings and availability of other smart wearables in market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global smart ring market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The smart ring market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting smart ring Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the smart ring market in these regions.
IMPACT OF COVID-19 ON SMART RING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the smart ring market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from smart ring market are anticipated to lucrative growth opportunities in the future with the rising demand for smart ring market. Below mentioned is the list of few companies engaged in the smart ring market.
The report also includes the profiles of key smart ring market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- E-SENSES
- TheTouch X s.r.o.
- Jakcom Technology Co. Ltd
- K Wearables Ltd
- McLear Ltd
- RajMall Inventives Private Limited
- Nimb Inc
- Origami Group Limited
- Oura
- RINGLY
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.