Global Smart Jewelry Market Size to exhibit 21% CAGR through 2028

By Sachin Pashte  | Date: January 03, 2023

Global Smart Jewelry Market Size to exhibit 21% CAGR through 2028

Credible research analysts suggest that global Smart Jewelry Market accounted for USD 190 million in 2021 and is anticipated to expand at a CAGR of 21% over the forecast period of 2022-2028.

Increasing innovative tactics employed by prominent manufacturers and rising customer acceptability of smart jewelry, especially among women, are some of the chief factors driving the growth of global smart jewelry market.

For the uninitiated, smart jewelry is a subset of wearable technology which refers to a variety of rings, bracelets, necklaces, and earrings. The goal of this category is to improve a person's health, productivity, and communication. Interestingly, the idea of packing the capability of a smartphone onto the wrists evolved with the debut of smartwatches and fitness trackers.

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It is important to note that the second wave of COVID-19 wave appeared shortly after the coronavirus started to spread rapidly in 2020. Big businesses adapted different strategies depending on the unprecedented challenges, which had a profound effect on the markets. The already high level of global instability was further increased by the 2022 Russo-Ukrainian War and the UK's hurried exit from the European Union.

However, given the effectiveness of immunization measures, it is predicted that the global economy will pick up steam & the market will likely recover in the following years. By product type, worldwide smart jewelry market is divided into rings, smart bracelets, and pendants. Moving on to the operating system, the industry is segregated into IOS and android. On the basis of age group, the marketplace is segmented into geriatric, adult, and pediatric. Concerning the application spectrum, the market is split into sleep tracking, heart rate monitoring, and activity tracking.

Regionally, North America market is anticipated to account for a substantial revenue share of the market in the ensuing years, owing to the growing consumer awareness and adoption of the product, increasing number of health problems associated with sedentary lifestyles, the introduction of novel products by major market players, and the expanding use of smartphones & the internet.

Ring Theory, Capri Holdings Limited, Motiv Ring, Wellue, Totwoo Smart Jewelry, Oura Health Oy, Ringly, InvisaWear, Bellabeat, and Misfit (Fossil Group) are the leading powerhouses of global smart jewelry industry.

Question & Answer: Global Smart Jewelry Market

Question 1: Which factors are promoting global smart jewelry market growth?

Answer: Increasing innovative tactics employed by prominent manufacturers and rising customer acceptability of smart jewelry, especially among women, are some of the chief factors driving the growth of global smart jewelry market.

Question 2: How is the North America region contributing to global smart jewelry industry growth?

Answer: The growing consumer awareness and adoption of the product, the increasing number of health problems associated with sedentary lifestyles, the introduction of novel products by major market players, and the expanding use of smartphones and the internet are impelling the demand for smart jewelry in North America, thus contributing to overall industry growth.

Question 3: What firms does the competitive landscape of global smart jewelry market include?

Answer: Ring Theory, Capri Holdings Limited, Motiv Ring, Wellue, Totwoo Smart Jewelry, Oura Health Oy, Ringly, InvisaWear, Bellabeat, and Misfit (Fossil Group) are the leading powerhouses in global smart jewelry market.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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