Will Smart Rings Reach the Modern User?

In today’s world, where smartwatches and fitness bands are everywhere you look, the exciting world of wearable tech is evolving faster than ever. It’s a world driven by almost daily advancements, turning these devices into must-have tools that keep our lives running smoothly. They’re not just about telling time or counting steps anymore; they’re our personal health monitors, our fashion accessories, and so much more. 

Now, let’s talk about the newest star in the wearable tech world: smart rings. These tiny wonders are designed to fit seamlessly into your daily life, providing an array of features that monitor your health, track your activity, and even control your smart home devices with a flick of your finger. And even though they look simple, these rings are packed with smart features like tracking sensors and Near Field Communication (NFC) technology, making them powerhouses of functionality without the need for a screen. 

Join us as we explore the burgeoning market for smart rings. Discover what sets these innovative devices apart and learn about the top contenders competing globally for your attention. 

Factors driving the smart ring phenomenon 

The global market for smart rings was estimated to be worth US$5 million in 2022. It is projected to grow at a Compound Annual Growth Rate (CAGR) of 20.9 percent during the analysis period of 2022-2030, reaching a size of US$23 million by 2030. The popularity of smart rings is driven by various factors such as technological advancements, changes in consumer behaviour, and growing emphasis on convenience and personal health.  Here are some key drivers. 

• One key driver is the growing awareness of the benefits of using smart wearable devices. Consumers want tools that can help them track different aspects of their health, and smart rings offer a more discreet and convenient alternative to traditional wrist-worn devices.  
• Secondly, as wearable tech for contactless payments grows in popularity, so does the smart ring market. Smart rings with integrated payment functionalities allow users to make secure payments without needing physical cards or smartphones. This feature has gained significant traction, especially with the rise of mobile payment platforms. 
• Thirdly, the growing trend towards personalization and customization in wearable tech is influencing the smart ring market. Manufacturers are offering a range of designs, materials, and customization options to cater to individual preferences and style preferences, attracting consumers who value uniqueness and personal expression. 

Meet the leading contenders 

The smart ring market is witnessing fierce competition and rapid innovation, driven by several prominent players. Here are some of the notable ones shaping the industry landscape: 

Oura Ring Generation 3 

When shopping for a smart ring, you will likely come across the brand Oura. With sales surpassing a million wearables across 98 countries, this Finnish smart ring company has left a lasting impact on the market. Their flagship product, the Oura Ring Gen 3, provides comprehensive sleep, activity, and recovery metrics, along with impressive battery life and customizable sizes and styles. However, one downside of the Oura smart ring is that it requires membership, which costs £4.80/month, to access most of the features, insights, and personalized recommendations.  

The Oura Ring comes in two designs: Heritage and Horizon. Horizon, the pricier option, is round and offers six metal options. The Heritage has a flat top and comes in four metal options. 

Price: £239.77

Ultrahuman Ring Air 

The UltraHuman Ring Air is a smart ring similar to the Oura Ring Generation 3 in terms of technical capabilities. It can track your sleep, recovery, and movement to provide insights and tips through a smartphone app. The main difference between the two is that the UltraHuman Ring Air includes a “lifetime subscription” to access your data and insights. In contrast, Oura charges a monthly fee of £4.80 in addition to the purchase price.  

In terms of design, the UltraHuman Ring Air is a simple, plain ring that comes in five colours, making it a great choice for those who prefer minimalist rings. 

Price: £279

Movano Evie Ring 

The Movano Evie is the first medical-grade smart ring designed exclusively for women. It can monitor various health metrics such as resting heart rate, heart rate variability, skin temperature variability, SpO2, menstrual and ovulation cycle, and sleep stages and duration. Users can access all of this data through a mobile app without having to pay any monthly subscription fee.  

The Evie ring is designed to fit finger sizes 5 to 12 with its open and flexible design. It is available in three colours: silver, gold, and rose gold. 

Price: £215

RingConn Smart Ring 

The RingConn Smart Ring tracks various health metrics including calories burned, heart rate, steps, stress level, time standing, sleep stages, skin temperature, SpO2, and respiratory rate. The ring collects data continuously, and when you open the RingConn Smart Ring app, it automatically syncs the information over Bluetooth. You can also sync the data with Apple Health and Google Fit through your phone. It’s worth noting that there are no subscription fees associated with this product. 

The RingConn ring has a slightly rounded square shape with a matte finish and is available in three metallic colors. 

Price: £223 

Alongside the mentioned brands, Samsung is entering the smart ring arena with its latest innovation, the Galaxy Ring. Collaborating with Japanese tech company Meiko, Samsung is integrating circuit boards into this sleek wearable. The Galaxy Ring may include health-monitoring sensors that seamlessly transmit data to the wearer’s smartphone. However, precise fine-tuning is crucial to ensure optimal performance. The ring is slated for release before the end of 2024. 

Distilled 

The unique blend of functionality, style, and the promise of a more discreet form of wearable technology has positioned smart rings as a noteworthy contender in the wearable tech arena. However, as with any innovative technology, only time will tell if smart rings will cement their place as a staple in the wearable technology landscape or if they will fade away as a fleeting fashion statement.