Beyond the wrist: exploring the potential of smart rings

I once almost lost a finger—not just once, but twice—due to ring accidents. These experiences left me with a lingering fear of wearing rings, and I’ve since preferred lightweight smartwatches that I can wear day and night. Smartwatches offer extensive functionality, tracking a range of vital and lifestyle data. Yet, despite my apprehension, I’ve been closely following the smart ring market.

Smart rings present a convenient, easy-to-carry solution in the realm of health data monitoring. They fit seamlessly into the broader landscape that includes MRI scanners, smartwatches, AI prediction models, API aggregators, screening hardware and lab tests. As devices that monitor vital health data, smart rings are becoming increasingly relevant in today’s health-conscious society.

Current market landscape

There’s a growing consumer preference for a healthy lifestyle, driving significant demand for wearable devices that track metrics like blood pressure, oxygen levels, blood glucose, and heart rate. This need for continuous health monitoring is expected to persist and intensify in the coming years. Market statistics predict a 20–30% year-over-year growth in the smart ring market.

While many are familiar with Oura as a leading manufacturer, the smart ring market is much broader. Players include Amazfit, Circular, Colmi, Evie, Happy Health, Luna, Mio, Movano, Oppo, Samsung, Sky Labs, Ultrahuman, and WIZPR, among others. This diversity highlights the market’s expansion and the variety of options available to consumers.

Trends driving the smart ring market

Advancements in technology are at the forefront of the smart ring market’s growth. Miniaturisation of components is continuously expanding the functionality of these devices. For example, Sky Labs offers rings with blood pressure monitoring capabilities. Artificial intelligence further augments smart rings by enhancing data analysis and providing personalised coaching. Companies like Luna emphasise that they are ‘powered by AI’, showcasing the importance of intelligent data processing.

Innovative designs are also emerging. Modular rings from brands like Oppo allow for customisation and adaptability, while open-source models like Colmi provide flexibility for users and developers alike. These trends indicate a move towards more user-centric products.

Smart rings are increasingly targeting specific demographics. Evie, for instance, focuses on women’s health, offering features tailored to female users. This approach mirrors trends in other wearable markets, where devices are designed to meet the unique needs of different user groups.

Market movements through acquisitions underscore the industry’s interest in expanding health and wellness ecosystems. Oura’s recent acquisitions over the past two years include companies specialising in metabolic health, digital identification, and data analytics. These moves enhance Oura’s capabilities and broaden its B2B offerings.

Obvious future scenarios

Looking ahead, we can anticipate further miniaturisation of components, leading to even more compact and functional smart rings. Improved battery life will enhance user experience, while advances in AI and machine learning algorithms will provide deeper data analysis and more personalised insights. This will make smart rings increasingly valuable tools for proactive health management and fitness tracking.

Market expansion is likely to include increased targeting of specific demographics such as fitness enthusiasts, the elderly, and children. Additionally, the incorporation of disease-specific functionalities—like glucose monitoring—could significantly boost demand.

Industry consolidation through acquisitions is also probable, as companies seek to broaden their offerings and integrate into larger health ecosystems.

Exploring less obvious future scenarios

?? What new connections could smart rings establish via Bluetooth and NFC? Could they, for instance, interact with a wider array of devices, enhancing their utility?

? Could smart rings be used to control other devices through hand or ring tracking? This might open up new avenues for gesture-based controls and interactions.

??? Which additional devices might be tethered to smart rings beyond phones—perhaps glasses or earables (or both)? What new functionalities and user experiences could emerge from these combinations?

?? How might the fashion industry break into the smart ring market? Could we soon see designer smart rings from brands like Hermès or Louis Vuitton, merging technology with high fashion? For inspiration have a look at Bellabeat for example.

??♀? What is the future for single-function devices like Whoop that offer similar health monitoring at comparable or higher prices? Will they adapt, specialise further, or face competition from multifunctional smart rings?

?? Will rings focused on other areas, such as K-Ring for fintech or Sleepon for sleep monitoring, expand into vital data monitoring or become acquisition targets?

?? Is the B2B smart ring market poised to become the most interesting segment in the near future? How can smart rings offer value in workforce health management and authentication in a convenient and manageable package?

?? How might further integration of AI agents in data analytics transform smart ring functionalities? Could AI agents be triggered by specific goals, anomalies, or trends, or be manually enabled for tasks like fitness training or grocery shopping?

Conclusion

Smart rings are poised to significantly impact the future of wearable technology and health monitoring, becoming integral tools in our daily lives. They offer opportunities not only for health tracking but also for innovative interactions with other devices and services.

For creatives, business developers, and innovators, this evolving market presents abundant opportunities. Whether it’s exploring new technological integrations, targeting specific demographics, or blending fashion with technology, there’s ample room to contribute to and benefit from this landscape.

?? May this inspire you to advance healthcare beyond its current state of excellence.