DUBLIN–(BUSINESS WIRE)–The “Smart Jewelry Market Size, Share & Trends Analysis Report by Application (Activity Tracking, Heart Rate Monitoring, Sleep Tracking), by Operation System (Android, IOS), by Product Type, by Age Group, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global smart jewelry market size is expected to reach USD 0.89 billion by 2030. The market is expected to expand at a lucrative CAGR of 16.9% from 2022 to 2030. The key factors driving the growth include the rising health monitoring device demand and public awareness of the value of leading a healthy and stylish lifestyle. It’s well-liked by users due to the availability of sophisticated tracking methods. Data privacy risk is a significant concern, though.
The COVID-19 pandemic resulted in several challenges such as logistical bottlenecks, low demand, decreased sales & marketing activities, and reduced sales. The key impact, however, market has been severely impacted by the halt in these products’ manufacturing, production, shipment, and sales. However, the demand for fitness amid the coronavirus epidemic will be met by OEMs’ ongoing development of technologically sophisticated products. For instance, Fitbit recently unveiled the Fitbit Charge 4, a cutting-edge tracker. Customers at home will receive assistance and support from the new device during this time.
Similarly, the rising demand for fitness items during COVID-19 will increase the sales of fitness trackers via online channels, hence fueling the growth of the market. Additionally, the extensive research and development efforts of big brands to include technologies in tools that can detect and track infectious diseases like COVID-19 will further expand industry potential.
The increased awareness of a person’s health and well-being will open up profitable market prospects. Fitness tracker jewelry supports a healthy lifestyle by monitoring sleep patterns, heart rate, sports activity, and other activities. The expansion of the smart jewelry industry will be impacted by the spike in the fitness industry brought on by the expanding young populations in nations like China and India. The market will be significantly impacted by millennials’ inclination for fitness clubs and gyms. Hectic lifestyles can contribute to sadness, anxiety, and stress, which can worsen health. The industry will have chances in the near future due to the growing need for physical activities and healthy diet plans brought on by sedentary lifestyles.
On the other hand, the development of smart jewelry is facing difficulty in the face of the expanding demand for wearable computing. For instance, Ringly, a smart jewelry company with headquarters in New York and funding of $5.1 million in the Series A round, sent a notice on its official website in January 2018 announcing the suspension of manufacturing. Ringly initially garnered a lot of attention when it was launched because of its strong fashion aesthetic and emphasis on notification features, but it ultimately failed. The market’s acceptance of smart jewelry products at the moment is not very high.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Smart Jewelry Market Variables, Trends & Scope
Chapter 4 Smart Jewelry Market: Segment Analysis, By Application, 2017 – 2030 (USD Million)
Chapter 5 Smart Jewelry Market: Segment Analysis, By Product Type, 2017 – 2030 (USD Million)
Chapter 6 Smart Jewelry Market: Segment Analysis, By Operating System, 2017 – 2030 (USD Million)
Chapter 7 Smart Jewelry Market: Segment Analysis, By Age Group, 2017 – 2030 (USD Million)
Chapter 8 Smart Jewelry Market: Regional Market Analysis 2017 – 2030 (USD Million)
Chapter 9 Smart Jewelry Market – Competitive Analysis
Chapter 10 Smart Jewelry Market – Company Profiles
- Misfit (Fossil Group)
- Fitbit (Google LLC)
- Oura Health Oy
- Totwoo Smart Jewelry
- Capri Holdings
For more information about this report visit https://www.researchandmarkets.com/r/2gs65e