As wearables continue to shrink in size, they are moving from wrist-worn devices to those that can be worn on a finger. Such “smart rings” not only function as jewelry, but can connect to a user’s smartphone, offer gesture control, provide activity tracking, and be used to make contactless payments.
According to the Scalar Market Research report, key factors promoting the global growth of the smart ring market include the rise in demand for Internet of Things (IoT) and increased use of wearables. In particular, says the report, various cloud computing applications in commercial as well as healthcare – especially those used to address an increased prevalence of diseases – are to drive the market’s growth.
The report sees “steady growth” over the forecast period, with the Asia-Pacific region continuing to hold the highest market share and providing the largest revenue. The region’s population growth and increasing digitization are seen as contributing factors.
The also report breaks down the smart rings market by operating system (Android, iOS, and Windows), technology (NFC, Bluetooth), and by application (mobile, user authentication, information sharing, and healthcare monitoring). It also looks at key players in the market, including McLear (West Yorkshire, UK), Logbar (San Francisco, CA), Fujitsu (Tokyo, Japan), Moodmetric (Tampere, Finland), Shanxi Jakcom Technology (Shanxi, China), and Ringly (New York, NY).
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