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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.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

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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3 Easy Ways to Save on Payroll Software in 2025

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New survey results from Halfpricesoft reveals key tricks businesses across America have been using to maximize efficiency.

REDMOND, Wash. , Jan. 7, 2025 /PRNewswire/ — With inflation, “shrinkflation,” and corporate price hikes since the pandemic, small businesses are being squeezed by big tech companies into ever-smaller margins. Large coastal tech providers continue raising prices on even the most basic payroll software features, leaving small businesses and bookkeepers to foot the bill.

 

Business experts at Halfpricesoft have spent thousands of hours talking with small businesses from Iowa to Idaho to learn how they are surviving these unprecedented times. From cutting overhead costs to running more effective acquisition campaigns, they found that one of the biggest unnecessary expenses is overpaying for tech products—particularly payroll software. Business owners and accountants shared stories of per-employee fees exceeding $10 and steep charges for adding new companies.

Fixed Price for Employees

The fastest way to save money on payroll is to pick software with a fixed price rather than per-employee charges. Many major providers charge double digits per additional employee, which quickly drives up costs. Instead, choose solutions that offer a fixed rate, regardless of the number of employees.

ezPaycheck, an unlimited-employee payroll solution from Halfpricesoft, does exactly that. With unlimited employees and unlimited checks, bookkeepers, CPAs, and business owners have saved as much as 90% by switching from larger competitors. By focusing on fewer (but essential) features and streamlining development, ezPaycheck has been sold and supported continuously since 2005.

https://www.halfpricesoft.com/index.asp

Accurate, Updated Tax Withholding

One of the most common (and costly) mistakes businesses make is using payroll software that overestimates withholding. When employers send excess funds to the IRS and state governments on behalf of employees, it ties up capital that could otherwise be reinvested into the business.

The key to scaling a  small business or CPA firm is efficient capital allocation, making any significant overpayment of taxes a major liability. Some payroll software, to avoid underpayment, will drastically overcalculate withholdings or fail to handle state tax rates correctly.

Halfpricesoft takes pride in ezPaycheck’s accuracy and rapid updates. Whenever new tax laws or rate changes are announced, ezPaycheck and ezAccounting are updated promptly—often faster than many other solutions on the market. This commitment to accuracy and ease of use explains why ezPaycheck boasts one of the highest customer retention rates in the industry.

Quick Technical Support

Small businesses are often overlooked by larger companies, even when paying thousands of dollars in annual fees. When payroll errors or calculation issues arise, major providers tend to prioritize their biggest clients, leaving smaller businesses with delayed or inadequate support. This oversight can lead to tax penalties and costly mistakes.

ezPaycheck stands out in the payroll market for its fast, attentive support—especially when W-2 and 1099-MISC forms are due at the end of January. During these peak periods, support hours extend to over 12 hours a day, ensuring quick response times. From remote desktop troubleshooting to detailed phone consultations, Halfpricesoft focuses on customer success as one of its guiding principles. Only when small-business partners succeed can a payroll company truly grow.

Conclusion

With a 30 day free trial  and only $169 for an annual license, businesses owners and CPAs are encouraged to try ezPaycheck. With after the fact checks, 941 e-filing, check printing, and misc checks, ezPaycheck is the best payroll software for small businesses who want to scale affordably.

https://www.halfpricesoft.com/index.asp

Halfpricesoft.com is a leading provider of small to mid-size business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software,1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by customers for over 20 years and will allow US business owners to simplify payroll processing and streamline business management.

 

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SOURCE Halfpricesoft.com

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Siemens launches new program to empower startups with cutting-edge technology

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Siemens for Startups program to streamline the collaboration process and facilitate partnerships with new innovative companiesSiemens to collaborate with Amazon Web Services (AWS) to deliver access to Siemens Xcelerator ecosystem and accelerate innovation at startups

MUNICH, Jan. 7, 2025 /PRNewswire/ — Siemens today launched Siemens for Startups, a new program to empower early-stage engineering and manufacturing startups. Announced at CES 2025 in Las Vegas, the program will enable new innovative companies to accelerate innovation, streamline development processes and scale faster by providing venture-related services, while reducing the cost of access to Siemens software and hardware.

“Startups are essential to making our customers more competitive, sustainable and resilient. By collaborating with startups, Siemens helps bring breakthrough ideas to industries faster, empowering customers to address global challenges more effectively with cutting-edge technologies, tools and solutions,” said Peter Koerte, Member of the Managing Board of Siemens AG, Chief Technology Officer and Chief Strategy Officer. 

The Siemens for Startups program has three pillars:

Connect 
The new program will help onboard startup companies to the Siemens Xcelerator marketplace, thus providing access to a global go-to-market channel and the Siemens Xcelerator ecosystem.Collaborate 
As an early customer and co-developer, Siemens will collaborate with leading startups through venture clienting. This approach will give Siemens access to cutting-edge capabilities and services and provide startups with the early revenue needed for growth.Empower
Solutions from the “Siemens for Startups” program will provide startups – whether focused on product development or on software development – with packaged access to essential software tools from Siemens Xcelerator.

Partnership with AWS

As part of its ongoing strategic collaboration with AWS, Siemens will link the “Siemens for Startups” program with AWS’s Startup program to accelerate innovation, streamline development processes and enable startups to scale faster. The collaboration underscores both companies’ commitment to fostering entrepreneurship and driving digital transformation in the industrial sector.

“Collaborating with Siemens allows us to extend the capabilities of our AWS Startup program to a new generation of innovators in the engineering and manufacturing space,” said Jon Jones, Vice President and Global Head Startups at AWS. “By providing startups with advanced software, generative AI and cloud services, AWS and Siemens are enabling them to bring their ideas to life more quickly and boost entire industries with cutting-edge solutions.”

Integrating Siemens’ comprehensive suite of industrial software – including design, simulation and manufacturing solutions from the Siemens Xcelerator portfolio – into AWS’s scalable cloud infrastructure and startup program will enable startups to access the tools and resources they need to seize market opportunities. For technical and go-to-market support, qualifying startups will receive AWS credits, business development resources and access to the AWS Activate program.

Showcasing startups

At CES 2025, Siemens highlighted the following startup companies that are collaborating with Siemens’ teams and technology to scale operations.

Arkisys is building one of the first business platforms in space for new technology hosting, satellite integration, assembly and resupply. The Arkisys Port supports scalable rapid prototyping, new payload and technology testing, the assembly and integration of new free-flying space platforms and destinations for orbital transfer vehicles, and on-orbit assembly and manufacturing.Dirac, a Siemens Technology Partner, is a leader in automated manufacturing workflow software, revolutionizing American manufacturing with innovative solutions that bridge the gap between design and production. Its flagship product, BuildOS, is the first automated work instruction platform, using physics-based simulations and manufacturing best practices to automatically generate animated, interactive, 3D assembly-ready work instructions directly from CAD models. BuildOS enables companies to seamlessly transition from design to production while retaining critical tacit knowledge, aggregating and contextualizing it within the design process. As a Technology Partner working alongside Siemens, Dirac has been able to drive enormous value across the Automotive and Aerospace & Defense industries.EthonAI is developing the EthonAI Manufacturing Analytics System (MAS), a powerful software suite designed to achieve operational excellence at scale. The MAS creates a common context across disparate factory data sources, analyzes data using the latest AI techniques, and makes the results accessible through a suite of interoperating applications. The applications within the MAS are specifically tailored to improve operational KPIs such as quality, throughput, uptime, costs and sustainability. Customers using EthonAI have achieved waste reductions of over 50 percent.Haddy is revolutionizing furniture manufacturing with advanced 3D printing and robotics, producing high-quality, sustainable products at a low cost and on a commercial scale. Haddy is building a global network of local micro-factories equipped with hybrid Flexbot systems from CEAD and recycling units that shorten the supply chain and help the environment by reducing waste.Instrumental technology automates failure discovery and root cause analysis in electronics manufacturing — accelerating new product development and improving yield in production. Easy-to-use workflows enable engineers to do failure analysis 100x faster.Tended uses geospatial data and wearable technology to transform the safety of high-risk work environments. The solution provides organizations with enhanced visibility over onsite operations to quickly identify and correct unsafe actions. A high degree of accuracy helps to ensure people, plant and equipment are in the right place at the right time, helping to prevent near misses and accidents.

More information about Siemens for Startups is available at www.siemens.com/startups

This press release is available at:
https://sie.ag/2vXqqh

Follow us at www.x.com/siemens_press

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. 

In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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SOURCE Siemens

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Tech Mahindra Tops India and Achieves Second Place Globally in the S&P Dow Jones Sustainability Indices 2024 for TSV IT Services Segment

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PUNE, India and NEW YORK, Jan. 7, 2025 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, has announced its recognition as a global sustainability leader by S&P Dow Jones Sustainability Indices (DJSI) 2024, one of the world’s most renowned indices for ESG (Environmental, Social & Governance). DJSI has ranked Tech Mahindra as 1st in India and 2nd globally, with an impressive score of 88 and 100 percentile in the ‘TSV IT services’ segment, highlighting the organization’s unwavering commitment to advancing sustainability across its businesses globally.

The TSV IT services segment comprises three divisions: data processing and outsourced services, internet services and infrastructure, and IT consulting & other services. The announcement follows the recent results of the annual Dow Jones Sustainability Indices rebalancing and reconstitution, marking Tech Mahindra’s inclusion in the DJSI World Index and DJSI Emerging Markets for the tenth consecutive year. The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental, and social criteria.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “In a rapidly changing world, organizations must commit to sustainability and resilience, ensuring our actions today pave the way for a better tomorrow. Tech Mahindra is proud to celebrate its inclusion in the prestigious Dow Jones Sustainability Indices for the 10th consecutive year. This sustainability milestone is a testament to our commitment to a greener future and reflects our unwavering commitment to environmental responsibility, social impact, and ethical practices.”

Tech Mahindra’s sustainability initiatives are committed to creating a positive environmental impact and achieving ambitious targets, including Net Zero by 2035, Carbon Neutrality by 2030, and attaining 90% renewable energy sourcing by 2030. The organization also aims to become water-positive by 2030 and ensure 100% Zero Waste to Landfill certification across all owned facilities.

Through the implementation of an internal carbon pricing mechanism, Tech Mahindra drives strategic investments in renewable energy, green buildings, and energy-efficient technologies. This reinforces Tech Mahindra’s position as a global leader in sustainability, committed to creating lasting value for its stakeholders and the planet.

For more information on the Dow Jones Sustainability World Indices components, click here.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

Tech Mahindra’s Social Media Channels: Facebook, X, LinkedIn and YouTube

Logo: https://mma.prnewswire.com/media/2539364/Tech_Mahindra_Logo.jpg

 

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