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Rings Market to Expand by USD 45.2 Billion (2024-2028) Driven by Rising Wedding Ring Demand, How AI is Transforming the Market Landscape- According to Technavio

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NEW YORK, Aug. 26, 2024 /PRNewswire/ — The global rings market size is estimated to grow by USD 45.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.53%  during the forecast period. Increasing demand for wedding rings is driving market growth, with a trend towards growing focus of vendors on brand endorsement. However, availability of counterfeit rings in market  poses a challenge. Key market players include Brilliant Earth LLC, Charles and Colvard Ltd., Chow Tai Fook Jewellery Group Limited, Compagnie Financiere Richemont SA, David Yurman Enterprises LLC, GIVA Jewellery, Malabar Gold and Diamonds, Pandora Jewelry LLC, PC Jeweller Ltd., ROBBINS BROS, Signet Jewelers Ltd., Swarovski AG, Tata Sons Pvt. Ltd., The LVMH group, The Swatch Group Ltd., and Tiffany and Co.

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Rings Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.53%

Market growth 2024-2028

USD 45.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.72

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 51%

Key countries

China, US, India, UK, and France

Key companies profiled

Brilliant Earth LLC, Charles and Colvard Ltd., Chow Tai Fook Jewellery Group Limited, Compagnie Financiere Richemont SA, David Yurman Enterprises LLC, GIVA Jewellery, Malabar Gold and Diamonds, Pandora Jewelry LLC, PC Jeweller Ltd., ROBBINS BROS, Signet Jewelers Ltd., Swarovski AG, Tata Sons Pvt. Ltd., The LVMH group, The Swatch Group Ltd., and Tiffany and Co

Market Driver

Vendors in the rings market employ celebrity endorsements as an effective marketing strategy to captivate consumer interest and establish a favorable brand image. This approach offers several advantages, such as increased brand recognition through association with familiar faces, enhanced customer trust in product quality, and extended reach through continuous advertisement exposure. Notable brands like Malabar Gold and Diamonds, Titan, and Pandora have utilized this strategy for decades. Recent endorsements include Tiffany’s campaign featuring Hailey Bieber for their T Collection and Swarovski’s partnership with Bella Hadid. These collaborations not only boost sales but also fortify customer relationships, contributing to the growth of the global rings market. 

The jewelry industry is seeing a trend towards ethical materials in ring production. Wedding rings, traditionally made of gold or platinum, are now being crafted from alternative metals. Blending machines and powerful machinery are used to create unique metal alloys, resulting in contemporary wedding bands. Gemstones like sapphires, rubies, and diamonds add color and value to these designs. Smart Rings are the new trend, integrating sensors for activity tracking, heart rate monitoring, and even contactless payments. With the rise of wearable devices and IoT, these smart rings offer features like GPS tracking, sleep and stress monitoring, and even blood oxygen and ECG monitoring. The future of the rings market lies in the fusion of jewelry sales and technology, offering functional beauty for modern consumers. 

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Market Challenges

The global rings market faces a significant challenge from the prevalence of counterfeit rings. This issue negatively impacts sales of branded rings, creating an unbalanced competitive landscape. Counterfeit rings are often sold at lower prices than authentic ones, making it difficult for consumers to distinguish between the two. The Asia Pacific region, particularly developing countries like China, is a major source of counterfeit jewelry, including rings. These fake rings are then exported to developed markets, such as the US, leading to substantial financial losses. The poor quality and non-compliance with manufacturing standards of counterfeit rings can damage consumer trust in international brands, hindering their growth in emerging markets. Several e-commerce platforms in China sell counterfeit rings, exacerbating the problem. As a result, the presence of counterfeit rings is expected to impede the growth of the global rings market during the forecast period.In the dynamic world of jewelry sales, Rings Market faces unique challenges with the rise of contemporary wedding rings made from alternative metals and colorful gemstones like sapphires and rubies. Traditional rings made of diamonds continue to dominate, but wearable technology integration is transforming the industry. Smart Rings, equipped with sensors for activity tracking, heart rate monitors, and even GPS tracking, offer health and wellness benefits. Bluetooth and NFC technology enable contactless payments and smart home control. Fitness enthusiasts and health-conscious consumers seek rings with advanced features like blood oxygen monitoring, ECG monitoring, and sleep tracking. Jewelry sales must adapt to this tech-driven landscape, integrating IoT devices and wearable technology seamlessly. Accelerometers, gyroscopes, and other sensors ensure accurate tracking, while Wi-Fi connectivity and data transfer facilitate seamless interaction with smartphones and smart homes. Fashion and personalization remain essential, but wearable technology’s functional benefits are increasingly important to consumers.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This rings market report extensively covers market segmentation by  

Distribution Channel1.1 Offline1.2 OnlineEnd-user 2.1 Women2.2 MenGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Offline-  The offline distribution channel, which includes specialty stores, department stores, exclusive brand stores, multi-brand stores, and premium fashion stores, accounts for the majority of revenue in the global rings market. Vendors invest in brand-owned organized retail stores to expand their market reach and customer base. For instance, Chow Tai Fook Jewellery Group aims to increase its POS facilities from 4,850 stores to over 7,000 by 2025. Technology adoption, such as cloud kiosks, enhances the shopping experience and transaction efficiency. Vendors also invest in jewelry crafting to produce innovative designs at affordable prices, increasing the visibility of branded rings and driving market growth. Chow Tai Fook’s innovation center and jewelry crafting facility in Bangkok optimize high-volume production, supplying new jewelry designs to its stores. Organized retailing growth increases customer familiarity with various ring types, driving value sales in the global rings market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Rings Market is experiencing a significant transformation as traditional jewelry pieces evolve into high-tech accessories. Ethical materials, such as recycled gold, are increasingly popular in the creation of wedding rings and other bands. The ring finger is no longer just a symbol of love, but also a platform for advanced technology. Blending machinery and powerful machinery are used to combine metal, often gold, to create valuable wedding bands. Smart Rings are the new trend, integrating sensors for activity tracking, heart rate monitors, gyroscopes, accelerometers, GPS tracking, sleep tracking, stress monitoring, and even blood oxygen and ECG monitoring. These rings connect to smartphones via Bluetooth, offering features like timekeeping, navigation, smart home control, and fashion and personalization options. Wearable technology has taken the jewelry industry to new heights, merging health and wellness with fashion.

Market Research Overview

The Rings Market is a significant segment of the Jewelry industry, focusing on the production and sales of various ring designs, primarily for weddings. Ethical materials, such as recycled metals, are increasingly popular, with gold and platinum being the most valued. Blending machines and powerful machinery are used to create unique alloys and blend different metals. Gemstones, including sapphires, rubies, and diamonds, add color and value to these rings. Smart Rings are the latest trend, integrating technology such as accelerometers, gyroscopes, heart rate monitors, GPS tracking, and sleep tracking. Alternative metals and metal wedding bands are also gaining popularity. The market is expanding with the integration of IoT devices, contactless payments, smart homes, and wearable technology, offering features like fitness tracking, health monitoring, timekeeping, navigation, smart home control, and fashion and personalization. NFC Technology, Wi-Fi connectivity, and data transfer are essential for seamless integration with smartphones.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineEnd-userWomenMenGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24

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The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.

TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.

“I am very humbled and proud to be a part of the book, “Daanis the Judge.” My hope is that this book will inspire youth to dream big and know that anything is possible. I am evidence of that!” – Justice Michelle O’Bonsawin

Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.

“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.

The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.

About Chapter One

Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.

Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.

In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.

Event details

The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.

Media Contact

Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca

View original content to download multimedia:https://www.prweb.com/releases/supreme-court-justice-michelle-obonsawin-joins-elementary-students-for-live-virtual-qa-and-chapter-one-storybook-reading-on-sep-24-302254639.html

SOURCE Chapter One Canada

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PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

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24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

View original content to download multimedia:https://www.prweb.com/releases/peac-institute-launches-24-hour-pause-for-peace-a-global-concert-302254527.html

SOURCE Pause for Peace

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Global Times: China opens 12 nuclear research facilities to global scientists

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The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

View original content:https://www.prnewswire.com/news-releases/global-times-china-opens-12-nuclear-research-facilities-to-global-scientists-302254830.html

SOURCE Global Times

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