Top Rivals Threaten Oura’s Dominance as it Goes Public

Exploring the Competitive Market of Smart Rings

The smart ring market is becoming increasingly competitive. Oura, one of the leading players, has officially filed to go public on September 3.

Oura’s Dominance in the Smart Ring Industry

Oura is currently thriving in the smart ring industry. The Finnish company’s revenue nearly doubled to $1.21 billion for the nine months ended on June 30. Oura revealed that it sold 3.6 million rings over the past year and boasts around 5 million paid members. The decision to go public follows the recent launch of the Oura Ring 5, their slimmest and lightest ring to date.

Emerging Competitors in the Smart Ring Market

Although Oura has been a dominant player in the smart ring market for years, various rivals are emerging with unique features. For instance, French company Circular announced that its upcoming ring will enable users to make payments with their ring, while Chinese company RingConn introduced a ring that includes haptic vibrations.

In a separate announcement, Indian company Ultrahuman raised $70 million with support from Qualcomm’s venture arm. Their aim is to build a ring capable of running software directly on the device, capable of enabling AI interactions to gaming.

The Future of Smart Rings

The race to surpass Oura involves more than just enhanced health and sleep tracking. Other companies are cramming smartphone-like features into a two-gram titanium band. For instance, the Pebble Halo and Dreame Ring already feature screens and promise touchpads. This might mean we end up slipping mini smartphones onto our fingers.

With the smart ring market becoming increasingly complex, it can be challenging to keep track of the notable contenders. Here are some companies vying for Oura’s crown.

Ultrahuman

Ultrahuman launched its third-generation smart ring, the $479 Ring Pro, earlier this year. After a patent dispute with Oura, Ultrahuman redesigned the Ring Pro to bypass the patent issue. The Ring Pro features a redesigned heart-rate sensing system for better signal quality during sleep and a new dual-core processor for more accurate data collection and on-device processing.

Circular

Circular’s upcoming Ring 3 series will launch next year. Both smart rings in the series will feature an integrated NFC chip for contactless payments and on-finger vibrations for silent wake-up alarms, reminders, health alerts, and more.

RingConn

RingConn launched the Gen 3 model in May, starting at $349. This model features vascular health insights, heart rate tracking, blood oxygen saturation tracking, sleep, activity, and stress monitoring, among other features.

Samsung

Samsung launched its first smart ring, the Galaxy Ring, in 2024. Priced at $399, it offers basic health and sleep tracking compared to other smart rings on the market.

Dreame

Dreame, a relatively new player in the smart ring market, introduced a ring earlier this year with haptic alerts for alarms, calls, messages, and more along with a touchpad that allows users to control their phone.