The smart ring industry is becoming increasingly competitive, with Oura taking significant steps to secure its position. The Finnish company has made headlines by filing for an IPO on September 3, after reporting a substantial revenue increase to $1.21 billion for the first nine months of the year.
Currently, Oura is performing exceptionally well. The company reported selling 3.6 million rings in the past year and boasts a membership count of approximately 5 million. This move toward going public coincides with the recent release of the Oura Ring 5, the slimmest and lightest model to date.
Despite Oura’s stronghold on the smart ring market for several years, competition is intensifying, with various brands looking to capture market share with distinctive features. For instance, the French firm Circular recently announced a ring that will include tap-to-pay functionality, while China’s RingConn unveiled a model this year that incorporates haptic feedback.
Meanwhile, Indian company Ultrahuman has secured $70 million in funding from Qualcomm’s investment branch to create a smart ring capable of running software directly on the device, paving the way for future applications ranging from artificial intelligence to gaming.
The competition has shifted from merely improving health and sleep tracking to integrating a plethora of smartphone features into a lightweight titanium band. Some new models even come with screens like the Pebble Halo, currently only available in India, and others that promote touchpad capabilities, such as the Dreame Ring.
Interestingly, the original appeal of smart rings resided in their ability to provide health tracking without the intrusive nature of larger devices like smartwatches and smartphones. However, as the industry evolves, it seems we might soon be wearing mini smartphones that serve a multitude of functions.
As the smart ring market diversifies, we’ve compiled a look at some of the most significant competitors challenging Oura’s dominance.
Ultrahuman
Ultrahuman recently showcased its third-generation smart ring, the Ring Pro, which is set for U.S. releases this mid-September at a price of $479. Following a patent ruling in favor of Oura, which disrupted Ultrahuman’s U.S. operations last October, the company has redesigned its ring to avoid patent infringements.
The Ring Pro incorporates a new heart-rate sensing system for improved sleep signal quality and utilizes a dual-core processor for enhanced data accuracy and processing capabilities. Ultrahuman aims to extend beyond health and sleep metrics with its future offerings.
Circular
Circular is preparing to launch its Ring 3 series next year, which includes both a Pro and a Slim model. These rings will feature NFC for contactless payments and will vibrate to provide silent alerts for wake-up alarms, reminders, and health indicators.
The Ring 3 Pro boasts a slimmer profile than its predecessor, along with FDA-cleared ECG capabilities for AFib detection, blood pressure monitoring, glucose tracking, and advanced sleep analysis.
Pricing details for the upcoming models have yet to be released.
RingConn
Launched in May, the RingConn Gen 3 starts at $349 and offers vascular health monitoring that analyzes changes over time by calibrating against measured blood pressure values.
In addition to heart rate and sleep tracking, the device tracks blood oxygen levels, activity, and stress. It uses vibration alerts to indicate health changes and provide reminders, though, unlike Circular, it primarily relies on vibration for notifications.
Samsung
In 2024, Samsung became the first major tech company to release a smart ring, known as the Galaxy Ring, priced at $399. This device is particularly appealing to those already invested in Samsung’s ecosystem.
However, in terms of advanced health features, the Galaxy Ring is relatively basic and lacks functionalities like sleep apnea detection and AFib detection found in competing models from RingConn, Oura, and Ultrahuman.
Dreame
Dreame is a newer player in the smart ring space, having recently introduced a product capable of providing haptic alerts for notifications and alarms while featuring a touchpad for functions like skipping songs or taking photos. It is said to offer heart rate and blood oxygen tracking, along with insights into heart rate variability and sleep analysis.
Specific pricing and availability information remains unannounced.
