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, /PRNewswire/ -- The global smart rings market size is estimated to grow by from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 21.39% during the forecast period.

Growing digitization of global economy is driving market growth, with a trend towards popularity of wearable devices as payment methods. However, presence of alternatives for smart rings poses a challenge. Key market players include Circular, E SENSES, FEMOMETER INC.



, Guangdong Jiu Zhi Technology Co.Ltd, iQibla LLC, Jakcom Technology Co. Ltd.

, MTG Co. Ltd., Nuanic Oy, Origami Group Ltd.

, Oura Health Oy, Rajmall Inventives Pvt. Ltd., Ringly Inc.

, SLEEPON, Smart Siren Technology Inc., TheTouch X s.r.

o., Tokenize Inc., Ultrahuman Healthcare Pvt Ltd, Wellnesys Inc.

, McLear Ltd., and Pi Ring. Get a detailed analysis on regions, market segments, customer landscape, and companies - The market for smart rings is experiencing growth due to the rising adoption of contactless payment technology.

NFC chips, integrated into wearable devices like smart rings, enable contactless payments through a direct tap and pay system at POS terminals. This method offers several advantages, including reduced transaction time and eliminating the need to carry cash or cards. The use of wearable devices for contactless payment is still in its early stages, but several industries have begun accepting payments in this manner.

For instance, McLEAR's Ringpay Payment Ring allows users to make contactless payments of .

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