Wearable technology has become a major part of our daily lives. From fitness tracking to health monitoring, devices like smartwatches and smart rings offer new ways to stay connected to our bodies. While smartwatches have dominated the market for years, smart rings are gaining traction as an alternative that is smaller, more discreet, and designed for long-term wear.
1. The global smart ring market was valued at approximately $125 million in 2023 and is expected to reach $747 million by 2030, growing at a CAGR of 28%.
The smart ring market is on a steep growth curve. Despite being relatively new, its expansion rate is much faster than many other wearables. The market’s projected growth to $747 million by 2030 suggests a rising demand for small, discreet wearables that prioritize comfort and convenience.
This surge is fueled by increasing awareness of health and fitness tracking, rising interest in sleep monitoring, and growing adoption of biofeedback technology. Unlike smartwatches, which often come with distractions like notifications and apps, smart rings focus on passive tracking.
For businesses, this is an opportunity to invest early. Manufacturers should focus on enhancing battery life, increasing compatibility with health platforms, and improving sensor accuracy to stand out in this fast-growing industry.
2. The smartwatch market was valued at $30 billion in 2023 and is projected to grow at a CAGR of 9-12% over the next five years.
The smartwatch industry is already massive and will continue to grow. With an expected annual growth rate of 9-12%, smartwatches remain a dominant force in the wearable technology sector. This is due to their versatility—offering health tracking, notifications, fitness apps, and even cellular connectivity.
Apple, Samsung, and Garmin lead this space, with Apple Watches accounting for nearly half of all smartwatch sales. Consumers continue to choose smartwatches for their ability to integrate seamlessly into their digital lives.
For businesses looking to compete, innovation is key. New brands should focus on niche markets such as professional athletes, medical-grade monitoring, or affordable fitness tracking to differentiate themselves in this competitive space.
3. Smart rings currently hold less than 1% of the wearable tech market, while smartwatches account for over 60%.
Smartwatches have been around longer and dominate the wearable industry. Meanwhile, smart rings are still in their early adoption phase, holding just a fraction of the market.
This gap presents a unique opportunity for growth. While smartwatches cater to a broader audience, smart rings attract niche users looking for something lightweight and unobtrusive. Market penetration will increase as smart ring technology becomes more sophisticated and well-known.
For companies and investors, now is the time to push marketing and awareness. Highlighting the benefits of smart rings—such as better sleep tracking, longer battery life, and discreet design—will help shift consumer perception and increase adoption rates.
4. The average smartwatch user checks their device 150 times per day, whereas smart ring users engage with their device significantly less due to passive tracking.
Smartwatches are highly interactive, making them both useful and distracting. On average, a smartwatch user looks at their device about 150 times daily. In contrast, smart ring users rarely interact with their devices, as they rely on passive data collection rather than direct input.
This difference makes smart rings a better choice for people who want to track health metrics without the temptation of notifications and distractions. Many smartwatch users find themselves checking messages, social media, and emails instead of focusing solely on fitness and health.
For users who struggle with digital distractions but still want health tracking, switching to a smart ring could be a game-changer. Companies marketing smart rings should emphasize this benefit to attract those seeking balance in their digital lives.
5. Over 40% of smartwatch users cite battery life as a major concern, while smart rings typically offer 4-7 days of battery life.
One of the biggest complaints about smartwatches is their battery life. Most smartwatches require charging every one to two days, with heavy use draining the battery even faster. In contrast, smart rings last 4 to 7 days on a single charge, making them far more convenient.
For many users, constantly charging a device is a hassle. This is why smart rings are gaining favor among those who prefer longer battery life and less dependency on chargers.
Manufacturers should focus on further improving battery technology while marketing this as a key advantage to potential buyers. Extending battery life will be crucial in driving adoption for smart rings.
6. Oura dominates the smart ring market with over 1 million units sold as of 2023.
The Oura Ring is the most recognizable smart ring on the market, leading the industry with over 1 million units sold. Its dominance can be attributed to its accuracy, sleek design, and strong focus on sleep tracking.
Other companies looking to enter the market must find a way to compete with Oura’s established reputation. They could focus on affordability, additional features like glucose monitoring, or integration with other health platforms to carve out their own market share.
For consumers, Oura’s success signals a maturing market, meaning better technology and more options in the coming years.
7. Apple, Samsung, and Google hold over 80% of the global smartwatch market.
The smartwatch market is heavily concentrated, with Apple, Samsung, and Google controlling the vast majority of sales. Apple alone accounts for around 50% of all smartwatch purchases.
This makes it difficult for smaller brands to compete unless they bring something unique to the table. Specialized fitness tracking, medical-grade features, or budget-friendly options are areas where new brands can thrive.
Consumers looking for alternatives should explore smaller brands offering specialized features rather than just big names.
8. The average price of a smart ring is around $250-$400, whereas smartwatches range from $100-$1,000+.
Smart rings are relatively expensive compared to entry-level smartwatches, but they still fall within a reasonable range for premium wearable tech.
The price gap shows that smart rings are targeting a slightly different audience—those looking for minimalism and advanced health tracking rather than full-fledged smartphone replacements.
Consumers should consider their priorities before purchasing. If they need app notifications and a screen, a smartwatch makes sense. But if they want a lightweight, discreet, health-focused device, a smart ring could be a better investment.
For businesses, keeping smart ring prices competitive while enhancing features will be key in gaining a larger customer base.
9. 70% of smartwatch owners use them primarily for fitness tracking, while 55% of smart ring users prioritize sleep tracking.
Fitness tracking is the primary reason people buy smartwatches. Whether it’s step counting, heart rate monitoring, or workout tracking, smartwatches offer a wide range of fitness-related features.
They have built-in GPS, workout modes, and real-time coaching, making them the go-to device for fitness enthusiasts.
On the other hand, smart rings excel in sleep tracking. About 55% of smart ring users purchase them mainly to improve their sleep quality. Unlike smartwatches, which can be uncomfortable to wear overnight, smart rings are lightweight and unobtrusive, making them ideal for continuous sleep tracking.
If your goal is overall fitness monitoring, a smartwatch is likely the better choice. However, if you want highly detailed sleep data, a smart ring is the way to go.
For businesses, this trend presents an opportunity to enhance smart rings with more fitness-related features and improve sleep tracking in smartwatches.
10. The smartwatch market is expected to exceed 250 million units in annual sales by 2026.
Smartwatches are not slowing down. The market is expected to reach 250 million units in annual sales by 2026, proving that these devices are here to stay. With increasing integration of health monitoring, mobile payments, and even medical-grade sensors, smartwatches will continue to evolve.
This growth is also driven by smartwatch manufacturers focusing on improving battery life, expanding fitness-tracking capabilities, and enhancing smartwatch designs to attract a broader audience.
For consumers, this means more choices and better features at competitive prices. For companies, the smartwatch market will remain lucrative, but differentiation will be key. Brands that offer better personalization, improved AI health tracking, or innovative battery solutions will stand out.
11. Smart rings weigh 4-8 grams, making them significantly lighter than smartwatches, which typically weigh 30-70 grams.
Weight is an important factor when choosing a wearable device. Smart rings are incredibly lightweight, usually weighing between 4 and 8 grams, whereas smartwatches are much heavier, typically 30 to 70 grams.
This weight difference impacts comfort. Many smartwatch users find their devices bulky, especially when sleeping or wearing long sleeves. In contrast, smart rings are barely noticeable, making them ideal for all-day and overnight wear.
For people who dislike the feeling of a watch on their wrist, smart rings provide an excellent alternative. Companies developing smart rings should continue focusing on lightweight materials and ergonomic designs to further enhance comfort.
12. The adoption rate of smart rings is growing at twice the pace of the smartwatch market, though from a smaller base.
While smart rings still make up a small fraction of the wearable market, their adoption rate is accelerating twice as fast as smartwatches. More consumers are becoming aware of their benefits, including longer battery life, better sleep tracking, and a discreet design.
However, smart rings have a long way to go before reaching mass adoption. Limited brand options, fewer features compared to smartwatches, and higher prices are barriers to widespread use.
For businesses, this presents an opportunity to enter a high-growth market. Investing in marketing, improving sensor accuracy, and expanding compatibility with major health apps will help drive faster adoption.
13. 50% of smartwatch users complain about screen distractions, whereas smart rings have no screen interface.
Smartwatches provide instant notifications, which can be helpful but also distracting. Around 50% of smartwatch users report that they check their smartwatch too frequently, leading to productivity loss and digital fatigue.
Smart rings, in contrast, have no screens, eliminating distractions. They focus solely on health tracking, making them an excellent option for people who want to reduce screen time.
If you’re looking to stay connected without being distracted, a smartwatch may not be the best choice. Instead, a smart ring can help you track important health data without constant interruptions.
Companies marketing smart rings should highlight the benefit of fewer distractions as a major selling point.
14. Over 30% of smartwatch users abandon their device within the first year, while smart ring retention rates are higher.
Many people buy smartwatches with good intentions, but over 30% stop using them within a year. The reasons include battery life frustrations, discomfort, and distraction overload.
In contrast, smart rings have a higher retention rate, likely because they require no manual interaction. Once worn, they track data automatically without requiring frequent engagement.
For manufacturers, this means retention is a key challenge. Companies should focus on creating more personalized experiences, improving battery life, and reducing unnecessary notifications to increase long-term smartwatch adoption.
15. Apple Watch dominates the smartwatch market with a 50% market share globally.
The Apple Watch has become the standard in the smartwatch industry. Holding 50% of the global market share, Apple continues to lead due to seamless integration with the iPhone, high-end health tracking, and a well-developed app ecosystem.
For other smartwatch brands, competing with Apple is difficult. However, niche players can still find success by focusing on unique features such as rugged durability, medical-grade tracking, or budget-friendly options.
Consumers should consider whether they need an Apple ecosystem product or if an alternative smartwatch could better meet their needs.
16. More than 35% of consumers prefer more discreet wearables, fueling the growth of smart rings.
Many people love the benefits of wearable technology but dislike bulky devices. Over 35% of consumers prefer discreet wearables, which is driving the popularity of smart rings.
This is especially true for professionals who want health tracking without the appearance of a fitness gadget on their wrist. Smart rings blend into everyday accessories, making them a stylish and functional alternative.
For businesses, this trend signals a need for more fashionable and subtle designs in wearable tech. Investing in sleek, customizable options will attract style-conscious buyers.
17. The Asia-Pacific region is the fastest-growing market for both smart rings and smartwatches.
Asia-Pacific is leading the growth in wearable adoption, with rising demand in countries like China, India, and Japan. Increasing health awareness, tech-savvy consumers, and competitive pricing make this a high-potential market.
Businesses looking to expand should focus on localized marketing, region-specific pricing, and features tailored to Asian consumers’ needs. Investing in distribution partnerships in this region could provide significant revenue opportunities.
18. Over 80% of smart rings offer heart rate monitoring, but fewer than 10% offer GPS or call functionalities.
Most smart rings prioritize health tracking, with over 80% including heart rate monitoring. However, features like GPS, calls, or message notifications are rarely available, as these would drain battery life and require more hardware.
This means smart rings are ideal for health tracking, but not for communication or navigation. Users who need GPS, call features, or music controls should consider a smartwatch instead.
For manufacturers, this is an area to explore. Finding ways to add more connectivity features without sacrificing battery life could be a game-changer in smart ring development.
19. More than 60% of smartwatch users prefer larger displays for notifications, a feature absent in smart rings.
One of the biggest reasons people choose smartwatches over smart rings is the display size. Over 60% of smartwatch users say they prefer a larger screen for reading notifications, checking messages, or even making phone calls.
This highlights a key difference between the two devices. Smartwatches are designed to be mini-computers on your wrist, offering easy access to apps and notifications. Smart rings, on the other hand, are passive trackers with no screen, focusing purely on health and wellness.
For consumers, this means choosing between convenience and minimalism. If you need frequent notifications and interaction, a smartwatch is the better option. However, if you’re looking to reduce screen time while still tracking your health, a smart ring may be the better fit.
For manufacturers, this stat suggests that developing a smart ring with haptic feedback or sound-based alerts could provide a middle ground for those who want some notifications without a full-screen interface.
20. Smartwatches have a 20-30% profit margin, whereas smart rings tend to have a higher margin of 40-50% due to niche targeting.
Despite selling fewer units, smart rings tend to be more profitable than smartwatches. The typical profit margin for smart rings ranges from 40-50%, while smartwatches usually fall between 20-30% due to intense competition and price wars.
This is because smart rings target a more niche audience willing to pay a premium for high-quality materials and precise health tracking. Unlike smartwatches, which compete on features and brand recognition, smart rings are more specialized and appeal to health-conscious users who value long battery life and discretion.
For businesses, this means investing in smart ring development could be highly profitable. Companies that can innovate in this space—offering better sensors, AI-driven health insights, or integration with medical platforms—can command high prices while maintaining strong margins.
21. Over 25% of smartwatch users use their device to make phone calls, while smart rings lack this capability.
One of the biggest advantages of smartwatches is their ability to function as a communication device. More than 25% of smartwatch owners use their watch to make phone calls, especially those with LTE-enabled models.
Smart rings, in contrast, do not support calls and are unlikely to do so anytime soon. This is due to the limitations of their size—fitting a microphone, speaker, and battery for calling into such a small device is not practical.
For users who need hands-free calling, a smartwatch remains the better choice. However, for those who want a distraction-free wearable, a smart ring is ideal.
For companies, this highlights an opportunity to improve smartwatch call quality and battery life. For smart rings, developers could explore haptic-based call alerts or even Bluetooth-assisted voice commands as a possible innovation.
22. Nearly 90% of smart rings focus on health and wellness tracking rather than notifications or communication.
Smart rings are built with one primary goal—health and wellness tracking. Nearly 90% of smart rings on the market today focus on heart rate, sleep tracking, stress monitoring, and fitness metrics, rather than communication or notifications.
This makes them the go-to wearable for users prioritizing health insights without the added distractions of a smartwatch. Unlike smartwatches, which often bombard users with notifications, smart rings passively track data and provide insights through an app.
For consumers, this means smart rings are a better choice for long-term health monitoring, especially for those looking to improve sleep quality and reduce stress. For businesses, investing in more advanced health sensors and AI-powered insights could give smart rings a competitive edge.
23. In 2023, over 5 million smart rings were sold globally, compared to 200 million+ smartwatches.
Despite rapid growth, the smart ring market is still small compared to smartwatches. In 2023, over 200 million smartwatches were sold worldwide, while smart rings accounted for only 5 million units.
This stat highlights the mass adoption of smartwatches but also shows that smart rings have a huge potential for growth. As more people become aware of their benefits, smart ring adoption is expected to accelerate.
For businesses, this presents an opportunity to invest early in the smart ring market. New brands entering this space can differentiate themselves by focusing on unique health-tracking features, material design, and ecosystem integration.
24. Over 45% of smartwatch buyers purchase due to brand loyalty, whereas smart ring buyers prioritize functionality over brand.
Brand loyalty plays a huge role in smartwatch sales. Nearly 45% of smartwatch buyers choose their device based on brand reputation rather than features. This is especially true for Apple, Samsung, and Garmin, which have built strong ecosystems around their devices.
In contrast, smart ring buyers are more focused on functionality. They prioritize features such as sleep tracking, battery life, and sensor accuracy over brand recognition.
For smartwatch companies, this means leveraging brand loyalty through ecosystem integration and exclusive features. For smart ring manufacturers, the focus should be on delivering superior tracking accuracy and innovative health insights rather than brand marketing alone.
25. Smart rings are favored by professional athletes due to lighter weight and better sleep tracking.
Many professional athletes prefer smart rings over smartwatches due to their lightweight design and superior sleep tracking. Rings don’t interfere with movement, making them an excellent choice for recovery monitoring without discomfort.
Teams in the NBA, NFL, and European soccer leagues have begun using smart rings to track player recovery, stress levels, and sleep cycles. This trend suggests a growing demand for wearables that offer high-performance tracking without adding bulk.
For manufacturers, this means an opportunity to partner with sports organizations and develop performance-focused features tailored to athletes and fitness professionals.
26. The Apple Watch Ultra, a premium smartwatch, costs nearly 10 times more than most smart rings.
The Apple Watch Ultra is one of the most expensive smartwatches on the market, with a price tag of $800 to $1,000. In contrast, most high-end smart rings cost between $250 and $400.
This price difference shows that smart rings offer premium health tracking at a fraction of the cost. While the Apple Watch Ultra includes rugged durability, advanced sensors, and a larger battery, many users may not need those features and could get similar health tracking from a smart ring for much less.
For consumers, this means weighing the cost-to-benefit ratio before purchasing. For businesses, this highlights an opportunity to position smart rings as a cost-effective alternative for premium health tracking.
27. AI-powered health analytics in smart rings are expected to grow by 30% per year.
AI-driven health tracking is a game-changer for wearables. The market for AI-powered analytics in smart rings is growing at a rate of 30% annually, allowing devices to offer more personalized health insights.
With AI, smart rings can detect early signs of stress, potential sleep disorders, and changes in heart rate variability—all without requiring manual input.
For businesses, investing in AI-driven wearable technology will be key to staying ahead. For consumers, this means smarter health tracking that adapts to individual needs rather than generic metrics.
28. The average smartwatch screen size is 1.2 to 2 inches, while smart rings have no screen, relying on apps.
Smartwatches provide real-time data visibility through screens ranging from 1.2 to 2 inches, while smart rings require users to check an app for insights.
For users who prefer immediate access to data, smartwatches are the better choice. However, those who want unobtrusive tracking without screen distractions will benefit more from a smart ring.
For manufacturers, improving app usability and real-time data sync will be critical in making smart rings more appealing.
29. More than 65% of smart ring users use them for stress and recovery tracking.
Over 65% of smart ring users purchase their device to track stress and recovery. Smart rings provide HRV (Heart Rate Variability) insights, sleep quality data, and stress level detection, making them a powerful tool for mental and physical well-being.
For businesses, focusing on stress management and recovery insights can differentiate their products. For users, this means using smart rings to improve overall health, not just fitness tracking.
30. The demand for privacy-focused wearables is increasing, benefiting smart rings as they store less personal data than smartwatches.
With growing concerns over data privacy, smart rings are gaining popularity due to their minimal data storage compared to smartwatches.
For companies, prioritizing stronger data encryption and user control will be key in attracting privacy-conscious consumers. For users, this means having health insights without excessive data sharing.
wrapping it up
Wearable technology is evolving rapidly, with both smartwatches and smart rings carving out their own space in the market. While smartwatches remain dominant, smart rings are growing at an incredible pace, driven by their lightweight design, longer battery life, and focus on health tracking.
