Smart Rings Market to Emerge from Shadows with Rise of Cloud Computing and Internet of Things

The global smart rings market is prophesied to reach new heights of success in the near future with the need for sharing and storing information using technologically developed wearable electronic gadgets. Such advanced devices enable secure transfer of digital information and reception of calls, videos, pictures, and other data. Users could also benefit from protected storage of contact data. One would say smart rings had made debut in one of the James Bond movies back in the 1900s when Roger Moore played the role. Well, the Bond gadget has become a reality now in common people’s lives and been raking in much demand in the recent time.

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Transparency Market Research (TMR), a leading market intelligence company, foresees the global smart rings market to earn around US$11.44 mn by 2025. This could be a remarkable progress from just US$1.67 mn in 2016 at a 24.0% CAGR between 2017 and 2025. The upsurge of cloud computing and Internet of things (IoT) is projected to bode well for the development of the global smart rings market.

Which Operating System could Consumers Favor Most?

Despite the utter dominance of Microsoft and Apple in the operating system market, industry players are expected to fix their hopes on Google’s Android operating system for attracting a tangible growth. Leading analysts anticipate Android to secure a colossal share of approximately 57.0% in the world smart rings market by 2025 in respect of both volume and revenue. Some of the key factors that could be responsible for the popularity of Android are the mounting attractiveness toward Android smartphones and their affordability and convenience. However, the iOS operating system market is predicted to catch up speedily during the course of the forecast period.

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Which Region could Reign over Market with Higher Growth?

Of all the major regions deemed significant for the growth of the international smart rings market, Asia Pacific could register a commanding share on the basis of volume as well as value. During the forecast period, Asia Pacific is prognosticated to exhibit a whopping CAGR of 23.2% to sustain its lead in the international smart rings market. In the foreseeable future, Asia Pacific could draw a telling demand owing to desperate efforts taken by the governments of developing nations to promote digitalization. Since the past few years, the regional smart rings market has attained a striking demand on the back of an impressive increment in the adoption of consumer electronics such as smartphones, tablets, and wearable devices.

Any company looking to advance in the worldwide smart rings market is recommended to have a close view of the competitive landscape. Top players such as Ringly Inc., Shanxi Jakcom Technology Co., Ltd., Moodmetric, Logbar Inc., and McLear Ltd. could be few of the toughest competitors to compete with in the long run.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.