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Global Smart Rings Market to Grow at a CAGR of 10.16%, 2017-2021 with Jakcom, Kerv Wearables, Logbar, Mota, NFC Ring, Ringly & Vinaya Leading the Way - Research and Markets

[March 22, 2017]

Global Smart Rings Market to Grow at a CAGR of 10.16%, 2017-2021 with Jakcom, Kerv Wearables, Logbar, Mota, NFC Ring, Ringly & Vinaya Leading the Way - Research and Markets

Research and Markets has announced the addition of the "Global Smart Rings Market 2017-2021" report to their offering.

The global smart rings market to grow at a CAGR of 10.16% during the period 2017-2021.

The report, Global Smart Rings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

The smart ring wearables were the latest addition to smart wearables technology in 2015. The smart rings are gaining popularity though they are overshadowed by smartwatches and smart bands. The application of smart rings is limited considering their compact size. The smart rings are mainly used for notifications, which are channeled from smartphones for calls, messages, and other apps. The smart rings can be used to unlock smartphones and smart door locks. Some of the near-field communication (NFC)-enabled smart rings are used for direct payment, which needs no authntication.

According to the report, one driver in market is low power consumption by smart rings. NFC-enabled smart rings are compact mainly because they do not house a battery, unlike their Bluetooth counterpart. Though NFC-enabled smart rings did not need charging, the market growth in 2016 had only a small contribution from NFC-enabled smart rings. An NFC-enabled smart ring uses micro wireless receiving modules that can attract electromagnetic energy from the read-write equipment and effectively convert it to small amounts of electricity, which is more than sufficient to power the NFC chipsets. The NFC-enabled smart ring is mainly used for unlocking NFC-enabled smartphones, doors, and contactless payments. However, since the utility and features of an NFC-enabled smart ring are less, they are not quite popular. In 2016 alone, NFC-enabled smart rings accounted for only 31.6% of the overall market.

Key vendors