Rising Penetration of IoT Augments Growth of Global Smart Rings Market

Published Date : Oct 15, 2018

Albany, New York, Oct 15, 2018: The global smart rings market is likely to witness an ascend in the growth rate during the forecast period 2017-2025 owing to the rise in Internet of Things and related services. Due to its reliability and convenience, the smart rings have gained immense among tech savvy people, reports Market Research Reports.biz. In a 148 pages report, titled, “Smart Rings Market - Global Industry Analysis, Trend, Size, Share and Forecast 2017 – 2025”, which is up for a sale on the website, studies the various potential aspects of the market which are likely to have impact on the growth of market.

Significant rise of cloud services across the world has given more access to these wearable devices to store humongous data, and access them at any point of time. These has boosted the wearable devices market. Similarly smart rings do take support of cloud services which make them convenient and easy to use, thus favoring the growth of the market. Rise in the global smartphone industry have brought a positive influence in the global rings market as smart rings has the capability of directly connecting to the smartphone. Smart rings enhance the user experience, as it aids the user to get notified about calls, messages, emails or any other important app, without looking on the phone. People with busy meeting plans, rely on this type of devices to get notified without demurring the interview. Advent of new connect options such as NFC, and Bluetooth, linking of smart rings to your smartphones has become a simple task. These have resulted in the growth of the market. 

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Rising health awareness among consumers is considered as one of the important driver which is raising the demand for smart rings. Activity, sleep time, and heartbeat are found to be crucial, and integration of these features in smart rings are likely to create lucrative growth opportunity for the market in years to come. Addition of feature such as contactless payment through the smart rings is favoring the market to grow. On the basis of type of operating system, the market is likely to be classified into Android, iOS, and Microsoft Windows. Among these Android is likely to hold major share owing to the preference of consumer all across the world. On the basis of technology, the market is segregated into Bluetooth, and NFC. Based on application the market is divided into Mobile/contactless payment, user authentication and access control, monitoring healthcare system, and information sharing.

Geographically, the global smart rings market is spread across North America, Middle East and Africa, Latin America, and Europe. Asia Pacific is accounted to hold the major share both in terms of volume and value and is likely to hold the position in assessed period. Excessive usafe of consumer electronics in this region has made it in the forefront of the market. Some of the major players in the market are Shanxi Jakcom Technology Co., Ltd., McLear LTd., Ringly Inc., and Moodmetric.

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