The introduction of the Galaxy Ring by Samsung has sent ripples through the tech world as people eagerly wait for its release later this year as announced by Samsung’s Global Head of B2B Wearable/ IoT/ Accessory, Daniel Seung Lee.

Now, it seems like Apple is about to enter the wearable tech market with its own smart ring earlier than expected.

It is rumored that Apple is working on a ring-like wearable device which is supported by previously submitted patent filings. According to the insider information from ETNews, Apple is almost ready with this new product, implying a quick response to Samsung’s news. The company’s significance regarding the concept is clearly seen through its frequent patent applications.

Now, the smart ring market is niche but experts forecast exponential growth, and evaluate the value to rise from $20 million in 2023 to $200 million in 2031. Smart rings provide exclusive benefits over smartwatches, thanks to their compact, unobtrusive design that is suitable for continuous use.

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Their quietness makes them appropriate for nighttime health monitoring and sleep following without the watch’s bulkiness.

Furthermore, their particular sensors offers more precise readings that are closer to the skin which allows for more attentive functionalities such as fitness tracking, notices, and contactless costs.

Despite the uncertainty about the announced date for the Apple smart ring, the company’s constant interest in the concept discloses their dedication to invention. As the smart ring market is likely to expand, Apple’s entry will bring more life to the wearable technology environment.