Smart rings
are cyclic-shaped wearable devices which help consumers communicate
with other people, devices, keep track of activities, and use
smartphones with convenience. The advancements in smart rings market
have enabled wearers to send and receive pictures, messages, contact
information without the need to reach for their smartphones. The growing
innovation in smartphone operation systems like in Android continues to
drive the smart rings market to new peaks of success. The market is
predicted to reach US$11.44 mn by 2025 end. Although the market is in
its nascent stages of development, it offers bright prospects for
potential investors with a predicted CAGR of 24.0% during 2017 – 2025.
Android Systems Continue to Dominate the Smart Rings Market
Android operating systems in smartphones
and PCs dominated the global smart rings market in recent times. Its
market share is expected to go up even more during the forecast period
and reach nearly 57%. There are other important operating systems in the
market too, including IoS by Apple and Microsoft Windows. However, the
Android operating systems are expected to lead the market growth both in
terms of revenue and volume during 2017 and 2025. Widespread
penetration of android devices, and low costs and open source platforms
are expected to drive the growth of the android operating systems
further.
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NFC-enabled smart rings and Asia Pacific region Drive Market Growth
NFC- enabled devices can require as
little as 1/10th of a second to get started and do not rely on batteries
to support various functions. Hence, NFC-enabled smart rings are
becoming popular among consumers and manufacturers as well.
Additionally, growing government initiatives in Asia Pacific region like
smart cities offering Wi-Fi connectivity and rising demand for personal
devices are expected to drive the smart rings market in the near
future.
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