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Smart Rings Market size is set to grow by USD 34.40 billion from 2023-2027, Growing digitization of global economy to boost the market growth, Technavio

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NEW YORK, July 17, 2024 /PRNewswire/ — The global smart rings market size is estimated to grow by USD 34.40 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 21.39% during the forecast period. Growing digitization of global economy is driving market growth, with a trend towards popularity of wearable devices as payment methods. However, presence of alternatives for smart rings poses a challenge. Key market players include Circular, E SENSES, FEMOMETER INC., Guangdong Jiu Zhi Technology Co.Ltd, iQibla LLC, Jakcom Technology Co. Ltd., MTG Co. Ltd., Nuanic Oy, Origami Group Ltd., Oura Health Oy, Rajmall Inventives Pvt. Ltd., Ringly Inc., SLEEPON, Smart Siren Technology Inc., TheTouch X s.r.o., Tokenize Inc., Ultrahuman Healthcare Pvt Ltd, Wellnesys Inc., McLear Ltd., and Pi Ring.

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Forecast period

2023-2027

Base Year

2022

Historic Data

2017 – 2021

Segment Covered

Technology (Bluetooth-enabled smart rings and NFC-enabled smart rings), Application (Notifications, Security, Payment, Health and wellness, and Data transfer), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

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

Key companies profiled

Circular, E SENSES, FEMOMETER INC., Guangdong Jiu Zhi Technology Co.Ltd, iQibla LLC, Jakcom Technology Co. Ltd., MTG Co. Ltd., Nuanic Oy, Origami Group Ltd., Oura Health Oy, Rajmall Inventives Pvt. Ltd., Ringly Inc., SLEEPON, Smart Siren Technology Inc., TheTouch X s.r.o., Tokenize Inc., Ultrahuman Healthcare Pvt Ltd, Wellnesys Inc., McLear Ltd., and Pi Ring

Key Market Trends Fueling Growth

The market for smart rings is experiencing growth due to the rising adoption of contactless payment technology. NFC chips, integrated into wearable devices like smart rings, enable contactless payments through a direct tap and pay system at POS terminals. This method offers several advantages, including reduced transaction time and eliminating the need to carry cash or cards. The use of wearable devices for contactless payment is still in its early stages, but several industries have begun accepting payments in this manner. For instance, McLEAR’s Ringpay Payment Ring allows users to make contactless payments of up to USD52 and offers member benefits and donation capabilities. The popularity of contactless payment is increasing, leading to partnerships between vendors and payment service providers to facilitate wearable device payments. Retail and clothing sectors are among those partnering to accept contactless payments through smartphones or wearables. The growing preference for contactless payments and the widespread adoption of contactless payment terminals worldwide are expected to fuel the growth of the global smart rings market. 

The Smart Ring Industry is experiencing significant growth as wearable technology advances. Cutting-edge technology like Bluetooth, accelerometers, gyroscopes, and heart rate monitors are integrated into these rings. Smart functions include health metrics tracking, such as heart rate and sleep patterns. Offline channels and online platforms sell these rings, with Kerv Wearables and Nod Ring being popular brands. Contactless payments are also a feature, allowing users to make transactions without a smartphone. AI and chatbots like ChatGPT enhance user experience. Smart Rings work with smart home appliances and IoT devices. Fashionable and unisex, these rings offer accurate fitness tracking, making them a reliable choice for athletic performance-focused audiences. The Bluetooth segment dominates, with Bluetooth-enabled smart rings outselling Wi-Fi models. Smartphone shipments and smart accessories sales indicate a growing market for these innovative rings. 

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Market Challenges

The smart rings market faces challenges due to the dominance of smartwatches in the wearable technology sector. Smartwatches, such as those from Apple, Samsung, Garmin, and Fitbit, offer various functionalities including making calls, messaging, and health monitoring. These devices provide quick access to multiple apps and have a large market share. However, the acceptance of smart rings is slower due to their limited features and compact size, which restricts the integration of multiple applications. Notifications, health and wellness, security, payment, and data transfer are the primary applications for smart rings. While there are technological advancements, the compact nature of smart rings makes it difficult to integrate all these applications into one device. End-users increasingly prefer wearable devices with the highest number of features and applications, making smartwatches and smart bands more attractive. This trend poses a significant threat to the growth of the smart rings market during the forecast period.The Smart Ring Industry is experiencing significant growth as these wearable devices gain popularity among consumers. However, the market faces challenges in both offline and online channels. In offline stores, limited consumer awareness and lack of physical try-on options hinder sales. In contrast, online sales face competition from smart home appliances and IoT devices. Smart Rings offer features like contactless transactions, monitoring of heart rate, sleep patterns, and fitness tracking. However, to succeed, they must appeal to fashion-conscious audiences and provide accurate data. Bluetooth-enabled smart rings, such as the Luna Ring with a titanium body, offer 70 health metrics including temperature and SpO2 levels. With a long battery life of up to 7 days, these rings can compete with smartwatches and fitness trackers. To expand the customer base, smart rings must integrate with Android and iOS devices, support Bluetooth and Wi-Fi, and cater to unisex audiences. The future of smart rings lies in IoMT devices, helping manage chronic health conditions.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This smart rings market report extensively covers market segmentation by

Technology 1.1 Bluetooth-enabled smart rings1.2 NFC-enabled smart ringsApplication 2.1 Notifications2.2 Security2.3 Payment2.4 Health and wellness2.5 Data transferGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Bluetooth-enabled smart rings- The Bluetooth segment is currently leading the global smart rings market due to the availability of features like notifications and alerts in Bluetooth-enabled rings. These rings require integration with a smartphone to function and have an average battery life of 2-7 days from a single charge. The compact size of these rings limits the battery capacity, leading to bulkiness. Oura Health and Motiv are notable vendors offering Bluetooth-enabled smart rings. Oura’s sleep-tracking ring monitors circadian rhythm, daily activities, pulse, and body temperature, while Motiv’s fitness tracker ring focuses on daily activities, heart rate, and sleep habits. Both companies offer aesthetically appealing designs with various color options. Vendors are also expanding the functionality of smart rings, enabling them to act as online security tools. These factors are expected to boost the growth of the Bluetooth-enabled smart rings market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017 – 2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global rings market is experiencing robust growth driven by fashion trends and cultural significance worldwide. Key players are innovating with sustainable materials and personalized designs, catering to diverse consumer preferences. Growth is fueled by increasing disposable incomes and online retail expansion.

Global Slip Rings Market:

The global slip rings market is expanding with advancements in robotics, automation, and renewable energy sectors. Key trends include miniaturization, high-speed data transfer capabilities, and enhanced reliability for critical applications. Growth is propelled by industrial automation and the adoption of slip rings in wind turbines and medical equipment.

Research Analysis

The Smart Rings market is a burgeoning segment of the wearable technology industry, featuring cutting-edge rings infused with advanced features. Equipped with Bluetooth technology, these rings connect seamlessly with smartphones and tablets, offering smart functions such as contactless payments, heart rate monitoring, and sleep pattern tracking. Powered by sensors including accelerometers and gyroscopes, these rings provide real-time health metrics, enabling users to monitor their fitness levels and overall wellbeing. The Smart Ring Industry is poised for significant growth, with offline and online channels driving sales. Integration with smart home appliances and IoT devices expands their functionality, making them an essential part of a connected lifestyle. Fashion-forward designs ensure these rings are not just functional but also stylish additions to any wardrobe. Reliable sources predict robust smartphone shipments and increasing demand for smart accessories will fuel the market’s expansion, making contactless transactions and advanced monitoring capabilities more accessible than ever.

Market Research Overview

The Smart Rings Market is a burgeoning sector of wearable technology, featuring cutting-edge Bluetooth-enabled rings that offer smart functions and health metrics. These rings integrate sensors such as accelerometers, gyroscopes, and heart rate monitors to provide accurate fitness tracking, sleep patterns, and calorie counting. They can be synced with smartphones, tablets, and even smart home appliances via IoT devices. Offline channels and contactless payments are also becoming integral parts of the Smart Ring Industry. Rings like Kerv Wearables and Nod Ring offer contactless transactions, making everyday purchases more convenient. AI and chatbots like ChatGPT are being integrated to provide personalized coaching and insights. Smart Rings cater to unisex audiences and come in various materials like titanium. They offer reliable sources of health data, monitoring heart rate, sleep patterns, temperature, SpO2 levels, and more. With up to 7-day battery life and compatibility with Android and iOS devices, these rings are becoming essential smart accessories for fitness enthusiasts and those with chronic health conditions. The Bluetooth segment of the smart rings market is expected to grow significantly, with the market value projected to reach new heights in the coming years.

Table of Contents:

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

TechnologyBluetooth-enabled Smart RingsNFC-enabled Smart RingsApplicationNotificationsSecurityPaymentHealth And WellnessData TransferGeographyNorth AmericaEuropeAPACMiddle 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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A-LIGN Issues First ISO 42001 Certification to Synthesia

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TAMPA, Fla., Sept. 25, 2024 /PRNewswire/ — A-LIGN, the leading provider in cybersecurity compliance, has issued its first unaccredited ISO/IEC 42001 certification to Synthesia, marking a groundbreaking achievement in artificial intelligence (AI) compliance.

The issuance of Synthesia’s ISO 42001 certificate highlights A-LIGN’s unwavering commitment to excellence and its role in empowering clients to achieve and maintain the highest levels of compliance in the ever-evolving AI landscape.

“AI is revolutionizing our world, driving change in both business operations and regulatory frameworks,” said Patrick Sullivan, VP of Strategy & Innovation at A-LIGN. “At A-LIGN, we are dedicated to innovation through services like ISO 42001, ensuring our clients receive the trusted quality they expect as the AI landscape evolves. This commitment enables industry leaders like Synthesia to leverage compliance as a strategic advantage.”

London-based Synthesia is the first AI video company to achieve ISO 42001 compliance. This certification sets a new benchmark in the industry, showcasing Synthesia and A-LIGN’s joint dedication to compliance innovation and high-quality security.

“Synthesia is committed to the responsible, transparent, and secure development of AI technologies, and achieving ISO 42001 certification through A-LIGN’s audit process demonstrates our dedication to these principles,” said Martin Tschammer, Head of Security at Synthesia. “A-LIGN’s expertise and attention to detail helped us identify and remediate any gaps in our rigorous processes. Together, we have led the way for the rest of the industry in the adoption of this standard, fostering trust and ensuring the long-term success of AI development and use.”

For more information about A-LIGN and ISO 42001 certification services, visit https://www.a-lign.com.

About A-LIGN
A-LIGN is the leading provider of high-quality, efficient cybersecurity compliance programs. Combining experienced auditors and audit management technology, A-LIGN provides the widest breadth and depth of services including SOC 2, ISO 27001, HITRUST, FedRAMP, and PCI. A-LIGN is the number one issuer of SOC 2 and a leading HITRUST and FedRAMP assessor. To learn more, visit a-lign.com.

About Synthesia
Synthesia is the world’s leading enterprise AI video communications platform. More than 55,000 businesses, including half of the Fortune 100, use it to communicate efficiently and share knowledge at scale using AI avatars. Founded in 2017, Synthesia is headquartered in London and makes video creation, collaboration and sharing easy for everyone. Learn more at https://synthesia.io/.

Media Contact: Abigail Rodrigues, abigail.rodrigues@a-lign.com

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Vanderbilt University School of Medicine Basic Sciences Adds Carterra’s LSAXT Instrument to Speed Drug and Vaccine Research and Advance Patient Care

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The Center for Structural Biology in the School of Medicine Basic Sciences will be a hub of research innovation using Carterra’s platform in traditional and AI-driven workflows for characterizing both antibodies and other biomolecules

SALT LAKE CITY and NASHVILLE, Tenn. , Sept. 25, 2024 /PRNewswire/ — Carterra® Inc., the world leader in innovative technologies enabling high-throughput biology, and the Vanderbilt University School of Medicine Basic Sciences announced today the addition of the Carterra LSAXT label-free interaction analysis platform to the Center for Structural Biology (CSB). Vanderbilt and Vanderbilt University Medical Center researchers will be able to discover and characterize large molecules including antibodies.

“Many of our researchers are trying to identify antibodies that bind to a protein involved in health or disease,” said Borden Lacy, director of the CSB and Edward and Nancy Fody Chair in Pathology and professor of biochemistry and pathology, microbiology and immunology. “The ability to rapidly screen and quantify binding for large libraries of antibodies will shape the way molecular discovery moves forward at Vanderbilt. The work we spend months on will now be completed in a matter of days. It is incredibly exciting.” 

Carterra’s LSA platform was used by pharmaceutical giant Eli Lilly during the COVID-19 pandemic to find antibodies effective against SARS-CoV-2. Within 90 days of isolating antibodies from an early COVID-19 survivor, Lilly was in clinical trials with the world’s first COVID-19 therapeutic, the antibody Bamlanivimab.

BAM, as it became known, is the fastest drug ever discovered and saved countless lives.  The publication in Science describing the feat concluded, “The resulting speed at which this drug discovery and development effort progressed…is a testament to the advanced discovery and characterization platforms.”

Vanderbilt investigators will now be able to leverage the Carterra platform for a variety of research aims. 

Two projects that are getting early traction include:

Stephanie Wankwicz, assistant professor of molecular physiology and biophysics and a faculty affiliate of the Center for Applied AI in Protein Dynamics, is elucidating the role of entropy in substrate specificity and catalysis.  Wankowicz is planning to use Carterra’s platform to more quickly and efficiently analyze a large panel of peptide sequence variants against a kinase. Older methods are very low throughput and would require high concentrations of the protein/peptide solution.

Brian Wadzinski, associate professor of pharmacology, recently submitted a grant application to characterize pan- and phosphor-specific nanobodies for investigating MAPK and PP2A signalling. Affinity measurements for these large panels of nanobodies and high-resolution epitope binning can only be performed on Carterra’s platform.

The LSAXT instrument includes hardware and software features that build upon the capabilities of Carterra’s original and highly successful LSA instrument while maintaining its impressive throughput and sample efficiency. The LSA platform delivers 100 times the data in 10 percent of the time-to-answer and uses only 1 percent of the sample required by other label-free platforms.

Just last year, Vanderbilt launched the Center for Applied AI in Protein Dynamics which will also benefit from the addition of Carterra’s platform.  The LSA® is the only label-free biosensor that can generate enough data, quickly and efficiently, to train algorithms and learning models used to predict the affinity and epitope coverage of drug candidates. Pharmaceutical and biotech companies who have now moved to AI-driven drug discovery workflows have standardized on the LSA.

Vanderbilt has always led its peers in research innovation,” commented Tim Germann, Chief Commercial Officer at Carterra. “To enable the use of AI in antibody discovery and characterization by adding the LSAXT to its stable of technologies cements Vanderbilt’s position as the academic leader in this rapidly evolving research landscape.”

Since its launch in 2018, Carterra’s interaction analysis platform has penetrated 19 of the largest 20 pharmaceutical companies, major universities and vaccine makers, contract research organizations (CROs), and biotechs on four continents. Characterizing binding kinetics and epitope coverage of large numbers of antibodies in early research has been transformative. The LSA platform has been profiled in multiple Science, Nature, and Cell peer-reviewed papers.

Media Contact:
Cheri Salazar, Sr. Marketing Manager
Carterra, Inc.
(408) 594-9400
Csalazar@carterra-bio.com 

About Carterra, Inc.
Carterra® is privately held and is the leading provider of high-throughput technologies designed to accelerate and improve the discovery of novel therapeutic candidates. Carterra’s LSA® instrument, software, and consumables for biotherapeutic discovery and characterization deliver up to 100 times the throughput of existing platforms in 10% of the time while using only 1% of the sample required by other systems. The LSA combines patented microfluidics technology with real-time high-throughput Surface Plasmon Resonance (HT-SPR) and industry-leading data analysis and visualization software to revolutionize mAb screening. The new LSAXT provides enhanced optics to enable additional applications in biotherapeutic discovery and characterization. Carterra, Inc. is based in Salt Lake City, Utah, and has Customer Experience Centers in San Francisco, Salt Lake City, Boston, Manchester, England, and Munich, Germany. Carterra products are available in Asia-Pacific and Oceania through our exclusive distributor, Revvity. For additional information, please visit www.carterra-bio.com.

About the Vanderbilt Center for Structural Biology
The Vanderbilt Center for Structural Biology promotes the broad use of structural biology approaches in all life science research and provides resources for education and training in state-of-the-art technologies. Uniquely, the CSB merges applications of high resolution structural biology disciplines, X-ray crystallography, NMR spectroscopy, cryo-electron microscopy and computational biology, with the biophysical instrumentation needed to characterize biomolecular interactions. This strategy allows researchers to solve fundamental structural problems in medicine and biology. The CSB facilitates collaborations with investigators across a range of Departments in both the College of Arts and Science, the School of Medicine Basic Sciences, and the School of Medicine in Vanderbilt University Medical Center. The CSB is directed by Borden Lacy, Edward and Nancy Fody Chair in Pathology and professor of biochemistry and pathology, microbiology and immunology.

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BMC Helping Customers Improve Lives and Customer Experiences in Healthcare, Financial Services and Energy Sectors

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NHS Northumbria patients, Nationwide Building Society members, and EDP customers benefit from the time- and cost-savings BMC delivers using data-driven insights and automation

HOUSTON, Sept. 25, 2024 /PRNewswire/ — BMC, a global leader in software solutions enabling business faster than humanly possible, has collaborated with European leaders in the healthcare, finance, and energy industries to optimize their IT and operational technology (OT) investments and realize the benefits of DataOps and ServiceOps for millions of their patients and customers.

NHS Northumbria, Nationwide Building Society, and Energias de Portugal (EDP) use the Control-M solution from BMC and the BMC Helix platform to gain data-driven insights instantly across complex hybrid IT environments, saving costs while drastically improving the speed and reliability at which they deliver value.

NHS Northumbria accelerates patient care with BMC Helix

Northumbria NHS Foundation Trust is among the largest healthcare organizations geographically in the U.K., with around 12,000 employees serving around 500,000 people in northeast England. Delivering a full range of health services across 10 main sites, including an emergency care hospital, general and community hospitals, and other facilities, the Trust seeks to improve patient outcomes and relieve pressure on its people and processes.

Using BMC Helix to digitize its end-user experience, NHS Northumbria has achieved:

90% paperless SLA improvement400% increase in Digital Workplace platform adoptionSignificant ROI within the first three yearsImproved patient processing times, real-time decisions, and secure authorizations from any device

“To achieve big things, you must develop the ability to get small things right, too. In our team, we ensure that excellence in everything is not an exception. It’s more of an attitude, and BMC shares those values,” said Glen Foster, Deputy Director for Service Delivery, Performance and Governance, Northumbria Healthcare NHS Foundation Trust. “We’ve already improved care levels—now we aim to build out trust rating beyond outstanding and see what digital transformation can deliver.”

Nationwide Building Society meets high financial standards with BMC Helix Capacity Optimization

Based in the U.K., Nationwide is the world’s largest building society, with 16 million members. Nationwide decided to upgrade from its custom on-premises system to a cloud solution that could handle the organization’s complex IT estate, and selected the BMC Helix Capacity Optimization solution, which delivers robust forecasting, modeling, and extrapolation functionalities that made it stand out.

With the BMC Helix Capacity Optimization solution, Nationwide has:

Met regulatory requirements 6 months ahead of scheduleEnabled three months advanced notice for potential capacity issuesReduced requests forwarded to ITOps by 94%

“If we want to stand by the decisions we’re making, we’ve got to trust the data. Now, the data is in BMC Helix Capacity Optimization, so the system can consolidate and highlight what’s pertinent. Getting to this point was critical,” said Peter Norris, Process Owner for IT Service Demand and Capacity Management at Nationwide.

EDP powers the energy market with Control-M

As a global company, EDP relies on a wide range of business services to drive innovation and provide support to customers worldwide, including energy production, distribution, and management. To simplify, automate, and standardize the production of millions of invoices per day and ensure that accurate invoices were created, printed, and shipped on time, every time, EDP chose Control-M, the market-leading application and data workflow orchestration platform from BMC.

With this solution, EDP has:

Serviced nine million customersExperienced a 46% reduction in application workflow execution incidentsReduced requests forwarded to ITOps by 36%

“Control-M runs hundreds of applications and covers nearly all of our business in EDP. If anyone from the Application Teams or Process Architecture Teams comes to us with an integration request or other challenge, Control-M can always offer a solution,” said Carlos Miguel Pereira, Head of Scheduling Platform and Operations Management at EDP.

Additional resources

Learn more about BMC customers here

About BMC

BMC empowers 86% of the Forbes Global 50 to accelerate business value faster than humanly possible. Our industry-leading portfolio unlocks human and machine potential to drive business growth, innovation, and sustainable success. BMC does this in a simple and optimized way by connecting people, systems, and data that power the world’s largest organizations so they can seize a competitive advantage.

BMC, BMC Software, the BMC logo, and other BMC marks are the exclusive properties of BMC Software, Inc. and are registered or may be registered with the U.S. Patent and Trademark Office or in other countries. 

©Copyright 2024 BMC Software, Inc.
www.bmc.com

Editorial Contact
Madeline Bien
BMC
ExtComms@bmc.com

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