Technological Advancements to Accelerate Demand Global Smart Rings Market
Increasing dominance of few players is projected to intensify competition in the global smart rings market. Leading players are using different strategies to strengthen their position in the market and to maintain an upper edge against their competitors. Innovation, collaboration, partnership, and expansion are some of the frequently used strategies. Moreover, increasing use of next generation near-field communication technologies by these players can further increase the competition among these players. In this report, researchers have thoroughly analyzed few leading players, which include Fujitsu, Logbar Inc., McLear Ltd., and Moodmetric.
According to Transparency Market Research, the global smart rings market is projected to witness high growth by rising at 24.0% of CAGR over the forecast period between 2017 and 2025. Over this period, the market valuation is estimated to touch US$11.44 mn by 2025. In 2016, the market earned US$1.67 mn.
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Inconvenience of Charging Smart Rings Might Challenge Demand for Smart Rings
Inconvenience of charging smart rings with cables or dongles might refrain customers from buying smart rings. In addition, increasing dependency battery might deter demand in the global smart rings market. There are other challenges the market is facing, as it is currently in its primary phase of development. Therefore, players are not investing heavily in the market, which further restrict growth in this market. Despite these restraints, the global smart rings market might see in upward growth trajectory, due to the increasing demand for advanced technological wearable devices across the globe.