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Smart Wearables Rings Can Foster Better Relations With Doctors
Wellness and fitness trackers have been around for years and have reached promising levels of market penetration. The global fitness tracker market is projected to grow from $36.34 billion in 2020 to $114.36 billion in 2028 at a CAGR of 15.4% in forecast period 2021–2028. These devices are used to track and monitor wellness and fitness level through the tracking of sleep quality, calories intakes, sleep quality, steps taken and breathing. These devices connect to a smart phone and through their sensors systematize data collection to provide wellness and lifestyle analytics and coaching. In the US, 2 in 5 American used a fitness smart device regularly in 2021.
One segment of the smart wearable that is receiving significant investors interest is the smart rings, and we are starting to see good momentum around their adoption. This is happening because the technology is becoming more mature, their analytics more reliable and rings are perceived as more fashionable options that their competitors. The segment of wearable we cover today is the merger of wearable meet jewelry, which in our view is going to become the leading segment of wellness wearables over the next five years. Having been an early adopter of the Oura Ring 3, I must say that this wearable is very good particularly if this is the first time you are exposed to a fitness and…
