Los Angeles, January 17, 2020 - QY Research recently published a report titled, “Global Smart Ring Market Research Report 2020”. The global smart ring market will be worth at US$12 mn in 2020 is expected to reach US$71 mn by the end of 2026, rising at a CAGR of 28.9% during 2021-2026.
Get PDF sample copy of the report at: https://www.qyresearch.com/sample-form/form/1420926/global-smart-ring-market
Demand for Smart Wearables to Drive Market
The growing importance of Internet of Things (IoT) in day-to-day life has led to the demand for new-age smart wearables. This is driving the market for smart rings. These rings connects its user with the smartphone enabling access to messages, phone calls, receiving emails, notification, unlock smartphones and smart door locks, and direct payments. These rings will be able to provide real-time information such as GPS tracking, heart monitoring, and notification alert during emergencies, making healthcare mobile and more effective.
Furthermore, the data collected it these rings can be stored in the cloud personal data repository allowing more usage capacity. This also enables user to keep high data privacy standards as it is managed through personal cloud. These factors combined are expected to contribute to the market growth in the forecast period.
Android Segment to Hold Major Share of Market
Smart ring is expected to gain push from the Android segment due to the growing popularity its smartphones, which are convenient and affordable. Additionally, there is a higher compatibility of Bluetooth and NFC-enabled smart rings with Android will also benefit this segment.
Asia Pacific to Lead Global Market in Forecast Years
Asia Pacific to rise as leading market of smart wearables owing to rising electronics and IoT technologies. Furthermore, government’s initiatives to focus on digitalization will further boost the shares of the market.
Manufacturers to Focus on Reaching Out to Existing and Potential Customers
A few months earlier, McLEAR announced a new strategic partnership with The Great Escape Festival or TGE. Under this partnership, for the first time in the UK, people going to TGE festival will be able to use their McLEAR Smart Ring to make fast and secure payments, requiring no contact. This will help the goers eliminate the hassle of rummaging in their pockets for bank cards or phones. This will help the company reach the user on ground and provide convenience to the customers.
The major players in the market include TMycestro, MOTA, Ring Theory, Logbar Ring, Neyya, Sirenring, Moodmetric, humb Track, Ringly, Nod Ring, humb Track, Ringly, Nod Ring, Arcus, GEAK, Jakcom Technology, Arcus, GEAK, Jakcom Technology, Acare, VINAYA Technologies, humb Track, Ringly, Nod Ring, Arcus, GEAK, Jakcom Technology, Logbar Ring, Acare, Vring, Neyya, RHL Vision Technologies Pvt, Moodmetric, etc.
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