LAS VEGAS — Smart rings are one of the hottest consumer electronics categories today, as evidenced by the number of companies showing such gadgets at CES 2025 this week.
More than a dozen companies were pitching smart rings at the tech trade show, including category creator and leader Oura of Finland. These devices track health metrics such as sleep, activity, stress, and heart health.
"We were the first smart ring and we're very proud of that," George Abbott, Oura's head of Europe, Middle East and Africa (EMEA) region, told Investor's Business Daily. "We carry the burden of not only the brand growth but also the category growth."
He added, "We're still the category leader and we intend to stay there."
Oura has sold more than 2.5 million smart rings since its first-generation product came out in 2015.
The company introduced its fourth-generation product, Oura Ring 4, in October. The latest version comes in a wider range of ring sizes, is 27% thinner and includes more accurate health tracking.
The Oura Ring 4 has sensors to measure heart rate, heart rate variability, blood oxygen levels, respiration rate, body temperature, movement and activity. The latest smart ring starts at $349.
The Finnish company also has nearly 1.5 million members of its subscription program, which offers more detailed data and actionable insights for $5.99 a month.
Smart Rings Post Heady Sales Growth
The Consumer Technology Association, which produces CES 2025, predicts that wholesale revenue from smart ring sales in the U.S. will rise 53% to $190 million in 2025. That's after an estimated increase of 118% to $124 million in 2024.
Elsewhere, research firm IDC estimated that worldwide shipments of smart rings would rise 88% to 1.7 million units in 2024. It expects the category to increase at a compound annual growth rate of 17% from 2024 through 2028. IDC is forecasting shipments of 3.1 million units of smart rings in 2028.
"When people see a smart ring, they assume it's an Oura ring," Abbott said. "We're the Kleenex of the category in that sense."
At CES 2025, Samsung said its Galaxy Ring smart ring can wirelessly link to a home's thermostat to adjust the temperature in the room automatically if the ring detects that the sleeping wearer is too hot or too cold.
Samsung said its ring can even detect signs of sleep apnea.
Possible Apple Smart Ring Coming?
Smart rings are taking over some of the health tracking functions of smartwatches, Brian Comiskey, senior director of innovation and trends at the Consumer Technology Association, told IBD.
"It's a recognition that people want devices that can make more of a fashion statement but still have the health tracking functions," he said.
In its tech predictions for 2025 and beyond, research firm CCS Insight predicted that Apple will launch a smart ring by 2026.
"Following the success of the Oura Ring and Samsung's debut of the Galaxy Ring, Apple launches a ring device," CCS Insight forecast in its October report. "Given the company's long-held interest in personal health and well-being, the ring is a natural extension of its product line."
Oura Is Possible IPO Candidate
On Dec. 19, Oura announced the completion of a $200 million Series D funding round. Fidelity Management and Research Company and Dexcom, the global leader in glucose biosensing, participated in the round. The investment raised Oura's valuation to $5.2 billion.
Oura is rumored to be considering an initial public offering in the near future.
Oura's market opportunity has increased as the company expands beyond its stronghold in the U.S. and Europe and into new markets, Abbott said. It will start selling its wares in Australia, Japan and the Middle East in the next three months, he said.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
