Parks Associates: 12% of Internet Households Plan To Buy A Smart Ring, The Newest Type Of Wearables For Digital Health

2024 Connected Health Summit addresses emergence of new form factors and accompanying health-tracking services

DALLAS, Aug. 15, 2024 /PRNewswire/ -- Parks Associates' research finds 12% of US internet households say they are likely to purchase a smart ring in the next six months. Smart rings are a new wearable form factor that offers traditional tracking capabilities without the screen, allowing for a more unobtrusive experience. These new devices, along with hybrid watches, are helping drive new growth in the wearables market, which has reached nearly 50% adoption among US internet households. Smart rings are poised for strong future growth, especially during the upcoming holiday season.

Parks Associates will bring together industry leaders to discuss this new trend and more digital health-related topics during the virtual session "Health and Home: Modern Lifestyles" on August 15 at 11:00 a.m. CT as part of the firm's Connected Health Summit conference series.

"Demand for smart rings is roughly on par with GPS sports watches, a promising sign for this new device type and for the health-based wearables market overall," said Kristen Hanich, Director of Research, Parks Associates. "Smart rings are in a strong position to be a hot holiday gift this season, so device makers must discover the best means of transforming willingness to buy into actual purchases, by demonstrating the value of these products."

The Health and Home session for Connected Health Summit addresses new strategies for appliance manufacturers, builders, and other home solution providers to design and deploy successful solutions by focusing on the consumer desire to track their health markers and improve their well-being. Speakers address how the integration of health-conscious design, innovative appliances, lighting solutions, and safety features into modern homes can improve air quality, increase residents' health, and deliver predictive and proactive safety measures.

"ŌURA is the current market leader for smart rings, based on consumer-reported adoption, and we are pleased to have this company as keynote for Connected Health Summit, to discuss strategies to create differentiation in an early and crowded connected health device category," Hanich said.

Keynote Visionary Speaker

• Jason Oberfest, Vice President of Healthcare, ŌURA

Speakers

• Dan Josebachvili, Founder & CEO, Silvertree
• Abby Katz, Lifecycle Marketing Manager, Eight Sleep
• Antoine Robiliard, VP of Health Solutions, Withings
• Farman Syed, Vice President of Product, Tonal

The eleventh annual Connected Health Summit, sponsored by Alarm.com, Becklar, Calix, and FPT Software, focuses on health tech and innovations to enhance health lifestyles.

To schedule an interview with an analyst or to request specific data, please contact Mindi Sue Sternblitz-Rubenstein at [email protected] or 972-490-1113.

About Connected Health Summit 
Connected Health Summit: Consumer Engagement and Innovation is a virtual executive conference focused on the impact of connected devices and IoT healthcare solutions on consumers at home.

Connected Health Summit provides insights on new business models, IoT technologies, consumer behaviors, and deployments relevant to consumer healthcare solutions. The conference addresses opportunities for new solutions, including smart home platforms, on-demand services, voice assistants, and wearables, to empower consumers, caregivers, and providers and to meet the growing demand for services in independent living, chronic care management, remote access to care, and wellness and fitness. www.connectedhealthsummit.com

SOURCE Parks Associates