In 2023, smart rings emerged as a significant player in the wearables market, with a notable increase in sales and interest. The global market for smart rings was estimated to have sold 880,000 units, and it is expected to reach 1.7 million units in 2024, with projections rising to 3.2 million units by 2025. These wearable devices, known for their sleek and compact designs, are quickly gaining traction as an alternative to fitness trackers, bands, and smartwatches, especially among consumers focused on health and well-being. The rise in smart ring offerings at events like CES 2024 indicates the growing mainstream appeal of these devices.
A key factor in the validation of the smart ring category is the arrival of major tech vendors, such as Samsung with its Galaxy Ring, and new players like Ultrahuman and Movano. However, the Oura Ring 4 has emerged as the standout model, praised for its seamless integration of health tracking technology with everyday wellness. Its combination of hardware, software, and actionable insights has earned it recognition as one of the top smart rings for 2024, making it a leading option for consumers seeking meaningful data on their health and lifestyle.
The success of the Oura Ring 4 can be attributed to several key factors, including its timely release in October 2023. While competitors rushed to market, Oura maintained its relevance through frequent software updates and improvements to critical features, including stress monitoring, heart rate variability, and women’s health. These updates culminated in the launch of the Ring 4, which featured a new design and superior performance, all while maintaining the same retail price as its predecessor, the Ring 3.
Priced at $349, the Oura Ring 4 introduced several hardware upgrades, such as improved internal sensors for a more comfortable fit, a wider range of available sizes, and 18 signal pathways for more accurate health data collection. The device also boasts a larger battery, offering up to eight days of battery life. Paired with an intuitive companion app, the Oura Ring 4 provides users with personalized health insights, including tailored activity tracking, stress data with mindfulness prompts, and sleep scores with actionable recommendations to improve well-being.
Despite its many strengths, the Oura Ring 4 faces some criticism due to its subscription model, which requires users to pay a $6 monthly fee for access to certain features. While this has led some competitors to adopt subscription-free models, Oura justifies the fee by continually enhancing the device’s functionality and offering cross-device compatibility. For many users, the subscription is seen as a fair trade-off for the ring’s ongoing updates and the ability to track and predict wellness metrics. However, for others, this model may encourage them to explore alternative smart rings without additional subscription costs.
