DUBLIN--(BUSINESS WIRE)--The "Global Smart Rings Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2017 to 2025" report has been added to ResearchAndMarkets.com's offering.
Smart rings market was valued at US$ 1.67 Million in 2016 and is expected to grow at a CAGR of 18.9% during the forecast period from 2017 to 2025.
The market for the smart rings is expected to demonstrate significant growth in the following years. Manufacturers are coming with the innovative and improved design of smart rings. Integration of advanced electronics and rise of Internet of things (IoT) have aided in the upgradation of existing hardware. In addition, design and development of enhanced smart rings for all current platform including IOS, Android, Blackberry OS, and Windows are one of the key strategies adopted by the smart ring manufacturing companies. Consequently, the range of applications for the rings is expanding even further with continued product enhancement.
The smart rings basically use two technologies to connect with other smart devices. The first smart rings were enabled with Bluetooth connectivity to connect with smartphones. As of 2016, Bluetooth enabled smart rings dominated the overall smart rings market. NFC smart rings offer better connectivity and secure information and data transfer when compared to Bluetooth smart rings. Consequently, the demand for NFC smart rings is expected to grow at a brisk rate in the following years.
- Rising trend of wearable devices among consumers
- Growing importance of connectivity and development of innovative devices to connect with smart devices
- Development of alternative methods for online payments, personal identification and access control
- Ringly Inc.
- Kerv Wearables Ltd.
- Shanxi Jakcom Technology Ltd.
- McLear Ltd.
- Logbar Inc.
- Mota Group, Inc.
- Fujitsu Ltd.
- Nimb Inc.
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