From January 7 to 10, 2025, the annual technology feast CES 2025 was held in Las Vegas, USA. As one of the world’s three major technology exhibitions, many creative technology products are exhibited at CES every year. What new products have appeared in the wearable industry this year? Let’s go with Bingo and have a look with us.
Different from previous CES exhibitions, there are less new products on display in the smart wearable field this year. Almost no manufacturers of smart watches and smart bracelets have brought their latest products to this exhibition. But there are exceptions
-smart rings.
The smart ring category already had relatively mature products as early as year 2013, such as Smarty Ring, which is the first smart ring that can display message notifications based on Bluetooth connection. But what is really widely recognized by consumers should be the arrival of Oura Ring in 2015, which combines smart health with smart wearables and provides an extremely lightweight wearable health record mode.
In year 2024, Samsung released the Galaxy Ring. Although there was no innovation in functionality, Samsung, as the first international consumer electronics brand to participate in the emerging category of smart rings, still made its products more exposed.
According to IDC data, the growth of global smart wearable device shipments slowed down to only 520 million units in 2023, which has stabilized significantly compared with the rapid growth in previous years. However, smart rings show a completely different trend. In 2023, the global smart ring market will reach US$210 million, a year-on-year increase of 16.7%. It is expected that by 2032, the compound annual growth rate of this market will reach 24.1%, and the overall scale may exceed US$1 billion.
From the perspective of regional markets, North America is still the largest market for smart rings, thanks to the mature wearable device consumption environment and the improvement of health awareness. In 2023, the North American market accounted for nearly 40% of global smart ring sales. In the Asia-Pacific region, the Chinese market has become an important growth point with a regional share of about 45%.
In the future, smart rings are expected to not only fill the innovation gap of smart wearable devices, but also become a new mainstream product in the field of wearable devices. Market research data shows that the compound growth rate of smart rings from 2024 to 2032 is 24.1%, indicating that this market has great potential. However, there are still difficulties that need to be overcome, such as price, technology, wearing experience and functional characteristics.
We Bingo will continue to improve the research and development of our smart rings and produce smart rings that are popular in the market.