Smart Jewelry Market Size, Share, Analysis, Trends, Growth, 2032

Smart Jewelry Industry Prospective:

The global smart jewelry market size was worth around USD 345 million in 2023 and is predicted to grow to around USD 1364 million by 2032 with a compound annual growth rate (CAGR) of roughly 16.5% between 2024 and 2032.

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Smart Jewelry Market: Overview

Smart jewelry is a wearable technology specially designed for fashion with function. Unlike traditional jewelry, they integrated advanced technology to perform tasks like health tracking, phone notification, and others. Smart jewelry consists of smart rings, smart bracelets, and smart necklaces.

The market for smart jewelry is propelled by several variables such as growing health awareness, increasing adoption of wearable technology, technological advancements, increasing female working population, and many others. However, the high cost of smart jewelry and technical limitations are expected to hamper the market expansion.

Key Insights

• As per the analysis shared by our research analyst, the global smart jewelry market is estimated to grow annually at a CAGR of around 16.5% over the forecast period (2024-2032).
• In terms of revenue, the global smart jewelry market size was valued at around USD 345 million in 2023 and is projected to reach USD 1364 million by 2032.
• The increasing health awareness among the world population is expected to drive the smart jewelry industry over the forecast period.
• Based on the product, the smart bracelets segment is expected to dominate the market.
• Based on the application, the activity tracking segment held the largest market share in 2023.
• Based on region, North America is expected to dominate the market during the forecast period.

Smart Jewelry Market: Growth Drivers

Increasing health awareness drives market growth

Devices that let users track health indicators like heart rate, sleep quality, exercise levels, and more are becoming more and more popular. This functionality is provided by smart jewelry while preserving the appearance of conventional jewelry. Real-time health tracking for people with chronic diseases like diabetes or hypertension can be facilitated by smart jewelry's capacity to track vital signs such as blood oxygen levels and heart rates. This encourages preventive care and facilitates effective health issue management.

Additionally, a lot of smart jewelry gadgets have sensors that assess stress levels by monitoring electrodermal activity (EDA). Customers are searching more and more for wearables that support their mental wellness and stress management as mental health awareness grows. Also, they frequently include mindfulness and sleep tracking, which aids users in getting better sleep. Thus, this functionality and people’s awareness regarding health drives the smart jewelry industry growth.

Smart Jewelry Market: Restraints

Competition from other wearables hinders market growth

Numerous capabilities, such as fitness tracking, GPS, mobile payments, health monitoring, notifications, and more, are available on smartwatches like those made by Apple, Samsung, and Fitbit. In contrast, smart jewelry frequently offers fewer features, like stress management, notifications, and simple fitness tracking, which deters tech-savvy buyers who value practicality over style

 Additionally, these trackers and entry-level smartwatches are frequently more affordable than smart jewelry, particularly for buyers who prioritize utility. As a result, consumers on a tight budget might choose fitness trackers that are more feature-rich yet cost less. Thus, this competition poses a major restraint for the smart jewelry market.

Smart Jewelry Market: Opportunities

Increasing product launches offers a lucrative opportunity for market growth

The increasing product launch is expected to offer a lucrative opportunity for the Smart Jewelry market growth over the forecast period. For instance, in September 2023, wearable smart rings were introduced by Bonatra, a longevity-focused health technology firm that promotes healthier, longer lives through doctor-led and IOMT-enabled lifestyle regimens. Together with the Continuous Glucose Monitors, the Smart Rings are the second wearable gadget that integrates with the Bonatra App.

Heart rate, HRV, SpO2, sleep and sleep quality, body temperature, movement, and steps taken during the day are just a few of the health metrics that the Ring tracks, enabling users to live longer and in better health. By producing a Sleep Score, Readiness Score, and Movement Index in addition to the Metabolic Score that the CGMs had previously produced, Bonatra's Smart Ring X1 offers accurate and useful insights into several health-related topics.

Smart Jewelry Market: Challenges

The high cost of smart jewelry poses a major challenge to market expansion

One important obstacle that may prevent smart jewelry from becoming widely used and from expanding in the market is its high price. As smart jewelry combines advanced technology with opulent materials like gemstones and precious metals, it is frequently positioned as a luxury product. Customers pay more as a result of the increased production expenses brought on by this blend of style and utility.

Additionally, materials like gold, silver, diamonds, and other precious stones are frequently used in smart jewelry, which raises the price of the item considerably. Although luxury markets find these materials appealing, typical customers cannot purchase the products. The cost is further increased by the craftsmanship required to create visually appealing pieces.

Smart Jewelry Market: Segmentation

The global smart jewelry industry is segmented based on the product, operating system, age group, application, and region.

Based on the product, the global smart jewelry market is segmented into pendants, smart bracelets, rings, and others. The smart bracelets segment is expected to dominate the market. Segmental growth is being aided by an increase in research and development efforts to improve the functionality of smart bracelets.

For instance, Corsano Health, a well-known MedTech business that develops, produces, and markets medical-grade continuous health monitoring, stated in August 2023 that it has integrated Cuffless Blood Pressure readings into its cutting-edge smart wristband. Designed to continuously collect physiological data in both home and healthcare settings, the CardioWatch 287-2 is a wireless remote monitoring device certified under EU-MDR. This includes monitoring blood pressure, body temperature, heart rate, respiration rate, heart rate variability (R-R interval), activity, SpO2, ECG, and sleep.

Based on the operating system, the global smart jewelry industry is bifurcated into Android and iOS.

Based on the age group, the global smart jewelry market is bifurcated into pediatric, adult, and geriatric.

Based on the application, the global smart jewelry industry is bifurcated into activity tracking, heart rate monitoring, and sleep tracking. The activity tracking segment held the largest market share in 2023. The industry is expanding due to several factors, including rising internet and smartphone penetration, rising consumer disposable income, and rising fitness and health consciousness

Fitness trackers are marketed to people of the working class and younger adults. These groups' knowledge of health and fitness is rising, causing an increase in fitness-related activities. Research & development activities are being fueled by this trend to produce more sophisticated goods.

Smart Jewelry Market: Report Scope

Smart Jewelry Market: Regional Analysis

North America dominates the market over the projected period

North America is expected to lead the global smart jewelry market growth. Regional growth is propelled by high disposable incomes and a tech-savvy populace ready to embrace wearable technology. A culture of creativity and the existence of significant tech hubs encourage research & development even more, which supports industry expansion.

Furthermore, the demand for smart jewelry is driven increased research and development activities in the United States. A wireless wearable gadget that could revolutionize personal health monitoring was unveiled by the University of Washington in March 2024, the Thermal Earring. In addition to tracking the user's earlobe temperature continuously, this innovative device may be used to measure ovulation, stress levels, eating patterns, and physical activity.

Besides, the Asia Pacific is projected to grow at the fastest rate over the forecast period. Regional expansion is driven by the rising use of fitness trackers and the working class's increased awareness of fitness and general health. Furthermore, the region's market will be driven in the years to come by rising consumer disposable income, easy access to cutting-edge products from several companies, and the expansion of e-commerce in the Asia Pacific.

Smart Jewelry Market: Competitive Analysis

The global smart jewelry market is dominated by players like:

• Jakcom Technology
• Bellabeat
• InvisaWear Technologies
• K Wearables Ltd.
• McLear Ltd.
• Moodmetric
• Motiv
• MOTA
• Mycestro
• Ringly
• Oura
• Ring Theory
• Sirenring
• Ultrahuman
• Sky Labs

The global smart jewelry market is segmented as follows:

By Product

• Pendants
• Smart Bracelets
• Ring
• Others

By Operating System

• Android
• iOS

By Age Group

• Pediatric
• Adult
• Geriatric

By Application

• Activity tracking
• Heart Rate Monitoring
• Sleep Tracking

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa