PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930229
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930229
The global smart ring market is witnessing rapid growth due to the rising demand for wearable devices that provide continuous health monitoring in a compact form factor. The market was valued at USD 706.5 million in 2024 and is projected to reach USD 1,129.0 million in 2025, with expectations to grow to USD 7,353.1 million by 2032, exhibiting a CAGR of 30.7% during the forecast period. Smart rings are increasingly preferred over traditional wearables due to their lightweight design, constant wearability, and ability to collect ongoing health data efficiently.
Overview of Smart Ring Technology
Smart rings are small, lightweight devices embedded with smart sensors that allow users to monitor health indicators such as heart rate, sleep quality, activity intensity, and blood oxygen levels (SpO2). Their compact design makes them convenient for 24/7 wear, enabling uninterrupted data collection and analysis. Integration with mobile applications allows users to review health data from anywhere, enhancing health management by facilitating communication with healthcare providers for personalized care and treatment plans. Key market players include Oura Ring, Ultrahuman, Samsung, and Noise, who are actively pursuing acquisitions and partnerships to strengthen market dominance.
Impact of AI on Market Growth
The implementation of Artificial Intelligence (AI) in smart rings is revolutionizing wearable technology. AI-driven algorithms enable intelligent health monitoring, providing instant evaluations of heart rate, sleep patterns, and activity metrics, along with personalized insights and recommendations. Additionally, AI enhances predictive capabilities and improves data accuracy, making smart rings more reliable for health and fitness tracking. Notably, in December 2024, Oura raised USD 200 million at a valuation of USD 5 billion to invest in AI-powered wearables.
Market Dynamics
Trends: Integration of NFC (Near Field Communication) technology is a key trend, allowing contactless payments, access control, and transportation use via smart rings like Mclear, Ringpay, and Token Ring. In July 2024, Vezopay launched Africa's first NFC-enabled smart ring, enabling fast, secure payments in just 1 second, highlighting the convenience and futuristic potential of smart rings.
Drivers: Growing emphasis on health, wellness, and preventive care is driving market growth. Rising awareness of lifestyle-related diseases, stress management, and fitness has encouraged consumers to adopt wearable devices. According to industry surveys, 75% of consumers consider health tracking a critical feature in wearable devices. Smart rings provide continuous monitoring of heart rate, sleep, activity, SpO2, and stress levels, making them indispensable for health-conscious individuals.
Restraints: Competition from smartwatches and fitness bands is a key challenge. These devices dominate the wearable market, offering similar features at competitive prices. For instance, smartwatches held 29.1% of the global wearable device market in 2024, making it challenging for smart rings to capture a larger market share.
Opportunities: The women's health segment presents significant growth potential. Smart rings can monitor cycle-related symptoms, fertility windows, sleep, and stress patterns with higher precision, enabling personalized health guidance. In 2025, Oura expanded features for women's health, including Pregnancy Insights and Perimenopause Check-In, while Janitri launched Momi, a smart ring for maternal and postpartum care.
Competitive Landscape
Key players such as RingConn, Movano Health, Oura Health, Ultrahuman, Samsung, and Noise are implementing strategic initiatives like mergers, acquisitions, and partnerships. Recent developments include Movano Health upgrading its Evie smart ring (March 2025), Ultrahuman partnering with UAE Team Emirates (January 2025), and Samsung launching the Galaxy Ring in India (October 2024).
Conclusion
The smart ring market is projected to grow from USD 1,129.0 million in 2025 to USD 7,353.1 million by 2032, driven by rising health consciousness, AI integration, NFC adoption, and expansion into specialized applications like women's health. While competition from smartwatches and fitness bands remains a challenge, continuous innovation, technological advancements, and regional adoption trends are expected to drive long-term market growth and create a sustainable opportunity across multiple consumer and healthcare sectors.
Segmentation By Application, Technology, Distribution Channel, End-user, and Region
By Application * Health & Wellness Tracking
By Technology * Bluetooth Low Energy (BLE)
By Distribution Channel * Direct-to-Consumer
By End-user * Corporate
By Region * North America (By Application, By Technology, By Distribution Channel, By End-user, and By Country)