Oura Reigns Supreme in the Smart Ring Market, But Competitors Are Rising

2025-01-08

The smart ring market is heating up, with Oura continuing to dominate as the undisputed leader. However, two new competitors, Circular and Ultrahuman, are stepping into the ring with bold and innovative approaches. While Oura’s fourth-generation ring and its exceptional app have set a high standard, these newcomers are challenging the status quo with unique features and designs.

Oura: The Undisputed Leader

Oura remains the king of smart rings, holding an impressive 49% market share. Its latest fourth-generation model has not only improved in hardware but also boasts a highly refined app that has won over even the most subscription-wary users. Oura’s dominance is a testament to its ability to balance functionality, design, and user experience.

Circular’s Reboot: AFib Detection and Premium Design

Circular, a French competitor, is making waves with its latest model, the Circular Ring 2. After facing criticism for its plastic construction and lack of wireless charging, the company has addressed these issues head-on. The new ring features a titanium shell available in four finishes: black, silver, gold, and rose gold. It also introduces wireless charging and an impressive eight-day battery life, surpassing Oura’s seven-day benchmark.

The standout feature, however, is the addition of an FDA-cleared atrial fibrillation (AFib) sensor. This innovation allows the ring to detect irregular heart rhythms, a feature previously limited to high-end smartwatches like the Apple Watch. Circular’s focus on health monitoring could position it as a serious contender in the smart ring market. The Circular Ring 2 is set to launch via crowdfunding later this month, with shipping expected in March and a starting price of $380.

Ultrahuman’s Luxurious Approach: Gold and Platinum Rings

Ultrahuman is taking a radically different approach with its Rare models, targeting the luxury market. The desert rose and dune rings are crafted from 18-karat gold sourced from the London Bullion Market Association, priced at $1,900. Meanwhile, the desert snow ring is made from pt950 platinum, a metal known for its purity and prestige, and costs a staggering $2,200.

This strategy mirrors Apple’s initial attempt with the gold Apple Watch Edition, which ultimately failed due to the short lifespan of tech products. Ultrahuman’s gamble on luxury materials raises questions about the practicality of such a high-priced device in a rapidly evolving market.

What Undercode Say:

The smart ring market is at an interesting crossroads. Oura’s dominance is undeniable, but Circular and Ultrahuman are pushing boundaries with their unique approaches. Circular’s focus on health monitoring, particularly AFib detection, is a game-changer. By integrating FDA-cleared sensors, Circular is bridging the gap between smart rings and advanced health-tracking devices like the Apple Watch. This could appeal to health-conscious consumers who prefer the discreet form factor of a ring over a bulky smartwatch.

On the other hand, Ultrahuman’s luxury strategy is a bold move that may struggle to find a broad audience. While the allure of gold and platinum rings is undeniable, the practicality of such devices is questionable. Tech products, especially wearables, have a relatively short lifespan due to rapid advancements. Paying a premium for materials that don’t enhance functionality may not resonate with most consumers.

The success of these competitors will depend on their ability to balance innovation, functionality, and price. Circular’s focus on health features and affordability gives it a fighting chance, while Ultrahuman’s luxury approach may appeal to a niche market. However, Oura’s strong brand reputation, superior app ecosystem, and continuous innovation make it a tough competitor to beat.

As the market evolves, the entry of Apple into the smart ring arena could further disrupt the landscape. Apple’s expertise in health tracking and its seamless ecosystem integration could pose a significant threat to existing players. For now, Oura remains the king, but the competition is certainly heating up.

In conclusion, the smart ring market is no longer a one-horse race. Circular and Ultrahuman are bringing fresh ideas and innovations, challenging Oura’s dominance. Whether these newcomers can carve out a significant share of the market remains to be seen, but one thing is clear: the future of smart rings is brighter and more competitive than ever.