The smart ring market is heating up as Oura files for its initial public offering. The Finnish company’s revenue nearly doubled to $1.21 billion for the nine months ended June 30, and it sold 3.6 million rings over the past year. With approximately 5 million paid members, Oura has largely dominated the smart ring market for years. However, rivals are emerging from all corners to challenge its position, each betting on different angles to carve out their share of the smart ring market.
The Evolution of the Smart Ring Market
The smart ring market is no longer just about enhanced health and sleep tracking. Companies are racing to cram the most smartphone-like features into lightweight titanium bands. French company Circular announced that its upcoming ring will allow users to tap to pay with their ring. Chinese company RingConn debuted a ring that added haptic vibrations for alerts. Indian company Ultrahuman separately raised $70 million with backing from Qualcomm’s venture arm as it builds a ring that can run software directly on the device.
We’re already seeing smart rings with screens, like the Pebble Halo (currently available only in India), as well as rings that promise touchpads, like the Dreame Ring. The irony is that the initial appeal of smart rings was that they made technology and health tracking feel less intrusive than devices like smartwatches and smartphones. With the way things are headed in the smart ring market, though, we may just end up slipping mini smartphones on our fingers.
Major Players in the Smart Ring Market
Ultrahuman’s Comeback Strategy
Ultrahuman is making a significant return to the U.S. smart ring market with its third-generation device, the Ring Pro, priced at $479. The company’s U.S. business was disrupted in October 2025 after the U.S. International Trade Commission ruled in Oura’s favor in a patent dispute. The ruling prevented Ultrahuman from importing new ring inventory into the country, so the company developed the Ring Pro with a redesigned form factor to circumvent Oura’s patent.
The Ring Pro features a redesigned heart-rate sensing system aimed at improving signal quality during sleep, along with a new dual-core processor that enables more accurate data collection and greater on-device processing. Ultrahuman looks to be more ambitious with future rings as it aims to go beyond sleep and health tracking. The device is set to begin shipping in the U.S. in mid-September.
Circular’s Feature-Rich Approach
Circular’s upcoming Ring 3 series, which consists of a Pro model and a Slim option, is expected to launch early next year. Both smart rings will feature an integrated NFC chip for contactless payments and on-finger vibrations that can be used for silent wake-up alarms, reminders, vital health alerts, and more.
The Ring 3 Pro features a slimmer design than its predecessor and comes with FDA-cleared ECG for AFib detection, blood pressure trend tracking, glucose tracking, advanced sleep analysis, and comprehensive biometric monitoring. This positions Circular as a serious contender in the smart ring market, though pricing for the upcoming rings is not yet available.
RingConn’s Health-Focused Innovation
The RingConn Gen 3, which launched in May and starts at $349, features vascular health insights that use sensor data from the ring to assess changes in vascular strain over time after calibration with externally measured blood pressure values. It also tracks heart rate, blood oxygen saturation, sleep, activity, and stress.
Unlike Circular, which leans on haptics to make its ring more communicative, RingConn mostly sticks to vibration as a health-alert mechanism. The ring features vibration alerts for health changes, sedentary reminders, and low battery, maintaining a health-focused approach within the smart ring market.
Samsung’s Ecosystem Play
Samsung became the first major tech giant to launch a smart ring in 2024. The Galaxy Ring, which costs $399, is arguably the strongest contender for anyone already invested in Samsung’s ecosystem of devices. Compared with other smart rings on the market, the Galaxy Ring is relatively basic when it comes to advanced health and sleep tracking.
It lacks features such as sleep apnea detection, which are offered by RingConn, Oura, and Ultrahuman, as well as AFib detection, which is available on Circular and RingConn smart rings. Samsung’s strategy appears focused on ecosystem integration rather than competing on advanced health features alone.
Dreame’s Touchpad-Equipped Ring
Dreame, a relatively new entrant to the smart ring market, unveiled a ring earlier this year with haptic alerts for alarms, calls, messages, and more, along with a small touchpad that lets you do things like skip a song or snap a photo on your phone. It’s also said to offer heart rate tracking, blood oxygen monitoring, heart rate variability insights, sleep analysis, and more. Pricing and availability have yet to be announced.
What This Means for the Smart Ring Market
The smart ring market is becoming increasingly crowded and confusing for consumers. While Oura has long been the dominant player with its successful IPO filing and strong financial performance, competitors are emerging with distinct strategies. Some are focusing on health features, others are emphasizing convenience features like payments, and some are pushing toward more smartphone-like functionality.
Oura’s decision to go public signals confidence in its position within the smart ring market. However, the company faces significant competition from established tech giants like Samsung and innovative startups like Ultrahuman, Circular, and RingConn. The next few years will likely determine which approach wins out in the smart ring market—whether consumers prefer dedicated health trackers or feature-packed devices that minimize smartphone reliance.
As the smart ring market continues to evolve, one thing is certain: the race to beat Oura is driving rapid innovation. Whether you’re a fitness enthusiast, a tech lover, or someone simply looking to reduce smartphone dependency, the growing options in the smart ring market offer something for everyone. Keep an eye on these contenders as they challenge Oura’s crown in the years ahead.
