Over the past five years, the Smart Ring market has grown steadily – primarily driven by tech startups. Haltian, the global product development and IoT firm, and developer of several signature Smart Ring products predicts that Amazon’s Echo Loop Smart Ring product launch recently, marks the beginning of a new era for Smart Rings. Smart Rings have entered the mainstream, and market growth will accelerate accordingly. Haltian has published a white paper to analyze the market and help companies define their go-to-market strategy!
The global product design, development and IoT company, Haltian Oy, who is the development and design service provider behind the Wave by Genki Instruments Smart Ring product has released a Smart Ring white paper to help device makers understand this emerging wearable market, and the technology, and gives guidance to create a successful Smart Ring strategy.
Contents of the Smart Ring White Paper
The white paper lists and describes the eleven top Smart Ring product segments on the market today. This product list includes the health and fitness items, and contactless payments among the other segments. The white paper provides a Smart Ring market outlook and explains the growth drivers these include the advantages compared to other segments of wearables, and global megatrends. It also describes the Smart Ring technology evolution and details how the hardware, materials, sensors, and manufacturing processes are evolving in future.
There are three primary areas needed for a successful Smart Ring go-to-market strategy. These are described indetail and include:
1. The Product/MarketStrategy – The Smart Ring form-factor is a flexible product innovation platform.It can be designed, developed, and applied for a multitude of use-cases andmarkets. Every company must define its own strategy. The whitepaper outlinesfour alternative strategic directions.
2. The Value Model- As with any other consumer electronicsmarket, the Smart Ring is highly price sensitive. How can companies maximizethe economic benefits in the Smart Ring market? This will depend on the chosenproduct and pricing strategy. Three alternative value model examples arepresented in the whitepaper.
3. The ProductDevelopment Strategy – The Smart Ring is a demanding form-factor and is packedwith high-end hardware and electronics. The whitepaper describes the threeprimary Smart Ring product development strategies, and their pros and cons.
The Smart Ring is more than just a product. We see the Smart Ring as an innovation platform that can help brands, service providers and manufacturers in many sectors to create new, unforeseen user-experiences, or, to re-define existing products in a new way. However, the Smart Ring is an ultimate product development challenge, which requires experience and know-how. We are confident that this white paper will give the public a concise picture of the Smart Ring space, and encourage companies to take the bull by the horns, and develop epic Smart Ring products! - Ville Ylläsjärvi, Product Innovator and Co-founder of Haltian
The Smart Ring white paper can be downloaded on Haltian’s website.
Haltian has been providing device manufacturers with world-class product design and engineering services since 2012. Thingsee, the proven IoT technology platform developed by Haltian, enables faster IoT launches for mass-scale deployments.In 2018, Haltian was heralded by research leader Gartner to be a Cool Vendor for its IoT services and in 2019, Haltian became an AWS Advanced TechnologyPartner. Haltian is behind many of the global signature products, such as the Oura health ring. Its design for the Specim IQ hyper spectral imaging device won the coveted Red Dot Design Award in 2018. For more information, visit: https://www.haltian.com and https://www.thingsee.com