The battle for health wearables has entered a new category-and form factor-in India: smart rings.
Over the last few weeks, consumer electronics brand boAt has released a teaser for its forthcoming smart ring, while personal technology brand Noise has introduced the Luna Ring-an ultra-lightweight smart ring that promises to track your health vitals, just like a smartwatch. Health-tech company Ultrahuman, known for its continuous glucose monitoring device, and Dhyana, a Hyderabad-based startup, also launched finger-worn sensors recently.
Globally, brands such as Oura and Movano have been shaking up the wearables market with smart rings. In 2022, Oura, known for iterations of the Oura Ring, sold its millionth ring.
At the CES 2023 tech show in Las Vegas, US, in January, Movano debuted the Movano Evie, the first medical-grade smart ring designed for women. Set to be released in September, it will track a user's resting heart rate, heart rate variability, SpO2 levels, respiration rate, skin temperature variability, period and ovulation, menstrual symptoms, activity profile, including steps and calories burnt, sleep stages and duration, and mood.
In India, the overall wearables market has been growing. In 2022, according to the International Data Corporation's (IDC's) India Monthly Wearable Device Tracker, the wearables market shipped 100 million units, with smartwatches accounting for 30.7 million, a growth of 151.3% year on year. Smart rings are now catching on.
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