GITNUX MARKETDATA REPORT 2024

Smart Ring Industry Statistics

The smart ring industry is expected to experience significant growth in the coming years, with a projected increase in market size and adoption rates.

With sources from: grandviewresearch.com, statista.com, goodeintelligence.com, fortunebusinessinsights.com and many more

Statistic 1

The global Smart Ring market size was valued at USD 4.3 million in 2020.

Statistic 2

The market is expected to expand at a compound annual growth rate (CAGR) of 24.3% from 2021 to 2028.

Statistic 3

The NFC segment dominated the market with a share of 78.4% in 2020.

Statistic 4

The commercial segment led the market and accounted for more than 70% share of the global revenue in 2020.

Statistic 5

Europe is expected to remain the highest revenue-generating region in the smart ring industry till 2025.

Statistic 6

In 2020, the worldwide sales of smart rings grew by 25% over the previous year.

Statistic 7

In 2018, Android smart rings accounted for around 70% of the total market share.

Statistic 8

The demand for smart rings is predicted to rise in the Asia Pacific region with a CAGR of approximately 33% from 2021-2026.

Statistic 9

The gesture control capabilities in smart rings are expected to drive the market growth at a CAGR of 20% during 2021-2025.

Statistic 10

The valuation of the global smart ring market is expected to cross USD 2.5 billion by the end of 2023.

Statistic 11

The smart ring technology is anticipated to grow from USD 1690 Million in 2019 to USD 6840 Million by 2026.

Statistic 12

In recent years, smart ring shipments have increased by 20% annually.

Statistic 13

Personal usage of smart rings is projected to grow at a CAGR of 25% during the forecast period 2021-2025.

Statistic 14

In 2020, sleep tracking application in smart rings have seen a 35% increase.

Statistic 15

The Smart Ring market in North America is expected to grow at a CAGR of 16.9% over the forecast period.

Statistic 16

According to a 2017 survey, about 28% of respondents stated they would be interested in purchasing smart rings within the next 12 months.

Statistic 17

In 2019, the total shipments of smart rings worldwide amounted to approximately 40,000 units.

Statistic 18

With respect to the type of technology utilized, Bluetooth/ BLE smart rings secured nearly 35% of the overall market demand in 2020.

Statistic 19

In 2020, the NFC technology segment accounted for 43% share of the global Smart Ring Market.

Sources Icon Sources

In this post, we will explore key statistics and insights into the global Smart Ring industry, shedding light on market size, growth trends, regional dynamics, technology preferences, and consumer behaviors. From the dominance of NFC technology to the rise in demand for gesture-controlled capabilities, the smart ring market is poised for significant expansion and innovation in the coming years. Let’s delve into the data to grasp the evolving landscape of smart wearable technology.

Statistic 1

"The global Smart Ring market size was valued at USD 4.3 million in 2020."

Sources Icon

Statistic 2

"The market is expected to expand at a compound annual growth rate (CAGR) of 24.3% from 2021 to 2028."

Sources Icon

Statistic 3

"The NFC segment dominated the market with a share of 78.4% in 2020."

Sources Icon

Statistic 4

"The commercial segment led the market and accounted for more than 70% share of the global revenue in 2020."

Sources Icon

Statistic 5

"Europe is expected to remain the highest revenue-generating region in the smart ring industry till 2025."

Sources Icon

Statistic 6

"In 2020, the worldwide sales of smart rings grew by 25% over the previous year."

Sources Icon

Statistic 7

"In 2018, Android smart rings accounted for around 70% of the total market share."

Sources Icon

Statistic 8

"The demand for smart rings is predicted to rise in the Asia Pacific region with a CAGR of approximately 33% from 2021-2026."

Sources Icon

Statistic 9

"The gesture control capabilities in smart rings are expected to drive the market growth at a CAGR of 20% during 2021-2025."

Sources Icon

Statistic 10

"The valuation of the global smart ring market is expected to cross USD 2.5 billion by the end of 2023."

Sources Icon

Statistic 11

"The smart ring technology is anticipated to grow from USD 1690 Million in 2019 to USD 6840 Million by 2026."

Sources Icon

Statistic 12

"In recent years, smart ring shipments have increased by 20% annually."

Sources Icon

Statistic 13

"Personal usage of smart rings is projected to grow at a CAGR of 25% during the forecast period 2021-2025."

Sources Icon

Statistic 14

"In 2020, sleep tracking application in smart rings have seen a 35% increase."

Sources Icon

Statistic 15

"The Smart Ring market in North America is expected to grow at a CAGR of 16.9% over the forecast period."

Sources Icon

Statistic 16

"According to a 2017 survey, about 28% of respondents stated they would be interested in purchasing smart rings within the next 12 months."

Sources Icon

Statistic 17

"In 2019, the total shipments of smart rings worldwide amounted to approximately 40,000 units."

Sources Icon

Statistic 18

"With respect to the type of technology utilized, Bluetooth/ BLE smart rings secured nearly 35% of the overall market demand in 2020."

Sources Icon

Statistic 19

"In 2020, the NFC technology segment accounted for 43% share of the global Smart Ring Market."

Sources Icon

Interpretation

In conclusion, the smart ring industry is experiencing rapid growth and evolving trends, with significant projections for the future. The market saw substantial increases in sales, revenue, and market share in recent years, driven by factors such as gesture control capabilities, NFC technology, and Bluetooth/ BLE adoption. Regions like Europe and the Asia Pacific are expected to play key roles in driving market expansion, while personal usage and innovative applications like sleep tracking are contributing to the increasing demand for smart rings. These statistics indicate a promising outlook for the smart ring industry, with the potential for substantial market valuation and continued technological advancements in the coming years.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.

Submit Your Own Statistic Data

Would you like to submit your own researched statistics on this topic? You are welcome to use the form below and submit your suggestion to us. We will check the source and approve it if necessary.

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!