According to rumors, Apple’s smart ring may launch sooner than expected

Recently, the South Korean tech giant Samsung announced its Galaxy Ring at the Galaxy Unpacked 2024 event. According to Daniel Seung Lee, the Global Head of B2B Wearable/ IoT/ Accessory at Samsung, the new product will launch in the second half of 2024. It appears that Apple is determined not to fall behind. Apple is rumored to be developing a smart ring of its own, and it may launch sooner than we anticipate.

In the past, Apple filed patents for a ring-like wearable device

According to a report form ETNews, Apple might soon unveil the new product. It seems like Apple is eager to join the new product category after Samsung. Reportedly, Apple is working on this concept for quite some time now. The company had filed several patents in the past for a ring-like wearable device.
Currently, the market for smart rings is quite small. However, it can grow in future. According to experts, the market could observe a shift from $20 million in 2023 to $200 million by 2031. As compared to smartphones, smart rings have several benefits like compact form factor, less intrusive design, lightweight, discreet design, and comfort level.

Given this fact, smart rings can measure several health parameters like heart rate monitoring and sleep tracking without interruption since they can be worn continuously. A focus on certain features like fitness tracking, notifications, and contactless payments is made possible by the simplicity of smart rings, which can also offer more specialized sensors closer to the skin for reliable readings.

Although the release date of Apple’s smart ring is unknown, it is obvious that the company has been considering this for a while. It will be interesting to see what Apple develops, as the smart ring market is poised to expand.