ReportsnReports. com adds new research report Global Smart Rings Market 2017-2021. This report covers the present scenario and the growth prospects of the global smart rings market for 2017- 2021. To calculate the market size, the report considers wearable rings that can be technologically integrated or connected to smart devices.
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The following companies are the key players in the global smart rings market: Jakcom, Kerv Wearables, Logbar, Mota, NFC Ring, Ringly, and Vinaya.
Other Prominent Vendors in the market are: Nimb, Oura, and TheTouch X.
Global Smart Rings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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About Smart Rings The smart ring wearables were the latest addition to smart wearables technology in 2015. The smart rings are gaining popularity though they are overshadowed by smartwatches and smart bands. The application of smart rings is limited considering their compact size. The smart rings are mainly used for notifications, which are channeled from smartphones for calls, messages, and other apps. The smart rings can be used to unlock smartphones and smart door locks. Some of the near-field communication( NFC)-enabled smart rings are used for direct payment, which needs no authentication. The analysts forecast the global smart rings market to grow at a CAGR of 10.16 % during the period 2017-2021.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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One trend in market is investments by crowdfunding campaigns and venture capitalists. The prominent vendors in the global smart rings market are startups. There is high support in terms of investments through crowdfunding platforms such as Indiegogo and Kickstarter. Startups like Ringly raised over $ 100,000 in preorder sales during their launch in 2014. Soon after it secured $ 5.1 million in series A funding led by Andreessen Horowitz along with Highline Ventures, Silas Capital, First Round Capital, Social Capital, MESA +, Brooklyn Bridge Ventures and PCH International. The startup NFC Ring, founded by John Mclear in 2013, had raised funds of $ 266,367 through online crowdfunding platforms. The Kerv ring by a startup called Kerv Wearables had raised $ 121,471 in October 2015 from an online crowdfunding platform called Kickstarter.
Further, the report states that one challenge in market is bulky smart ring wearables. Consumers prefer wrist wear devices over smart rings due to their form factor and better functionalities. Wrist wear devices such as smartwatches weigh the same or even lesser than traditional watches and look