Standing at the top of the wave of artificial intelligence, the combination of AI and hardware has long become a hot topic in the technology industry.
In recent times, various types of AI smart hardware have been launched and launched like mushrooms after rain, ushering in a round of intensive listing. In addition to the "AI+" upgrade of traditional devices such as mobile phones and PCs, emerging smart hardware such as AI smart glasses, AI smart pet devices, AI toys, and AI educational hardware have emerged one after another, driving a new wave of smart life.
As an emerging category of AI hardware (smart wearable devices), the market potential of smart rings is gradually emerging and starting to run hard on the technology track!
Sales of 500 million US dollars a year, with a valuation of 5.2 billion US dollars!
Oura, a smart ring company from Finland, announced that it has completed a $200 million Series D financing, with a company valuation of 5.2 billion US dollars. The round of financing was led by Fidelity Management and Dexcom, a US blood glucose equipment manufacturer, bringing its total capital to more than 550 million US dollars.
Oura was founded in 2013 and started through the crowdfunding platform Kickstarter in 2016. In October this year, Oura launched its much-anticipated new generation product, the Oura Ring 4 smart ring. It is reported that the pre-sale price of Oura Ring 4 is $349. The ring focuses more on heart rate accuracy and a more comfortable wearing experience. Its automatic exercise detection function supports more than 40 types of exercise, can identify exercise types in real time, and the battery life is increased to 8 days.
According to the latest data, Oura's sales so far this year have more than doubled compared to last year. The total sales of Oura ring smart rings have exceeded 2.5 million, with sales reaching approximately US$500 million.
Won a million dollars in crowdfunding in just 8 hours
A new brand RingConn went online on the Kickstarter platform and won US$1 million in crowdfunding in just 8 hours.
It is understood that RingConn's parent company is Shenzhen Jiuzhi Technology Co., Ltd. (hereinafter referred to as Jiuzhi Technology), which was established in 2021. In November last year, Jiuzhi Technology completed an angel round of financing of tens of millions of RMB; nine months later, Jiuzhi Technology completed an angel + round of financing of tens of millions of RMB for the second time.
In November 2022, RingConn's first new product went online on the crowdfunding platform, raising US$1.2 million in just 50 days. Recently, it has broken the record again. Its new product RingConn Gen 2 went online on the platform and raised US$1 million in funds in just 8 hours, reaching more than US$4 million in 45 days, breaking the crowdfunding record of the smart ring category.
It is understood that as of 2023, RingConn has accumulated 40,000 users worldwide. Through the independent channel alone, RingConn has achieved a cumulative sales of over 20,000 smart rings within half a year, directly driving revenue of tens of millions of yuan.
Smart Rings: The “Rising Star” of Wearable Devices
Today, smart wearable technology is becoming more and more popular. From health monitoring to augmented reality, from sports tracking to entertainment enjoyment, digital technology is seamlessly integrated into daily wear, through smart bracelets, smart watches, smart glasses, AR headsets, etc. Various smart wearable products bring people a more convenient, healthier and smarter life experience.
Among these "intelligent legions", the smart ring is like a low-key but bright new star, exuding unique charm, quietly entering people's lives and becoming a powerful assistant in health management.
Compared with health monitoring devices such as smart watches and smart bracelets, smart rings have significant advantages in portability, concealment, and long battery life. The smart ring is smaller in size and has a smaller "sense of presence". Users can hardly feel its existence when wearing it. It can truly be worn and taken anywhere, and health data can be monitored anytime and anywhere. Moreover, the smart ring does not have a display screen, so it has better concealment and better protects the user's physical data and personal privacy. In addition, due to the size and design without a display, smart rings usually have a longer battery life.
The object may be small, but its functionality remains the same. Smart rings also have powerful health monitoring functions, providing comprehensive and accurate data support for users' health management. Because the blood circulation on the finger is relatively stable and the ring is in closer contact with the skin, the smart ring can often obtain more accurate results when monitoring heart rate, blood oxygen and other data, providing more reliable information for health management. in accordance with.
Take heart rate monitoring as an example. Whether during daily activities, exercise or sleep, the smart ring can track the user's heart rate changes in real time. Once the heart rate fluctuates abnormally, a subtle vibration reminder will be issued immediately. In addition, blood oxygen saturation monitoring is also one of the important functions of smart rings. The smart ring can quickly and accurately measure blood oxygen levels. When the blood oxygen level is lower than the normal range, the ring will issue an alarm in time to remind the user to take appropriate measures to ensure the body's normal oxygen supply. In addition, the smart ring also has a series of functions such as sleep monitoring and exercise monitoring, providing a more reliable basis for users' health management.
In addition to powerful health monitoring and management functions, smart rings also have a variety of practical functions, further expanding their application scenarios and bringing more convenience to people's daily lives. For example, in terms of payment functions, some smart rings integrate NFC technology. After being bound to a bank card or electronic payment account, users only need to bring the ring close to the payment terminal to easily complete the payment process. Moreover, the smart ring can also serve as an access control card, a universal remote control, and is associated with smart home appliances to provide users with an intelligent and convenient life experience.
Explosive growth, giants rushing to enter the market
In recent years, with the development and progress of technologies such as artificial intelligence and biointegration, as well as people's continued rise in demand for health management, convenient life and personalization, there has been a strong desire for innovative smart products. However, the current homogeneity phenomenon of some smart wearable devices in the market is rampant, and price competition is fierce, causing profit margins to be continuously compressed. Manufacturers urgently need to find new growth points to break through the current predicament.
Against this background, smart rings have high hopes as a new type of wearable device that combines advanced technology and fashion elements. They have gradually emerged amid the continuous iteration and innovation of technology, and have quickly become a popular choice in the market. Market research company IDC pointed out that in 2024, against the background that global wearable devices are expected to grow by 6.1% year-on-year, smart glasses and smart rings have suddenly emerged in the wearable market, with year-on-year growth of 73.1% and 88.4% expected respectively.
In addition, according to the Gnitive report, the global smart ring market will reach US$210 million in 2023 and is expected to grow to US$1 billion by 2032, with an average annual compound growth rate of approximately 24.1%.
Faced with this continuous growth trend, more and more manufacturers, especially technology giants, are eager to join the ranks to seize the high ground of this emerging track.
Samsung: In July 2024, Samsung officially launched its first smart ring "Galaxy Ring", which has health monitoring functions as its core. And after the Galaxy Ring was officially launched, Samsung increased its original planned production of 1 million units to 1.6 million units.
Apple: According to the U.S. Trademark and Patent Office, Apple has obtained a smart ring patent, which covers the tracking of health physiological data and the ability of the smart ring to link with other products in the Apple ecosystem.
Huami: During CES 2024, Huami launched its first smart ring, the Amazfit Helio Ring, which features titanium alloy material, ultra-light design and accurate health monitoring functions.
Honor: Honor CEO Zhao Ming revealed that Honor is developing a smart ring. It is understood that this smart ring can not only monitor and track the wearer's physical health information, but also features AI functions to provide users with more health information.
In addition, domestic smart device manufacturers, mobile phone manufacturers, medical device manufacturers, etc. are actively laying out the smart ring track, and the smart ring industry is ushering in a period of rapid development.
Write at the end
In fact, smart rings are not new, but due to technical limitations and lack of public awareness, they have not been widely recognized. Nowadays, as technology continues to mature, smart rings are increasingly integrated into people's daily lives. They have gradually sublimated from simple functions in the early days to the ultimate pursuit of exquisite portability and personalized needs, satisfying people's needs for health, convenience and personalization. pursuit of life. At present, whether it is the large amount of financing obtained in the field of smart rings or the active entry of giants, it may indicate that the golden age of smart rings has begun, and its rise is unstoppable. In the future, there will be a wave of products, technologies, and markets. A new climax came.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
