Authored By: Sarah
11 Jul 2024

 Rings Market Size to grow by USD 45.2 billion between 2024-2028

According to a research report “ Rings Market” by Distribution Channel (Offline, Online) End-user (Women, Men) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 45.2 billion, at a CAGR of almost 8.53% during the forecast period. The global rings market primarily experiences significant growth during occasions such as weddings, with engagement rings holding a prominent position in consumer demand. India serves as a significant market for wedding rings, driven by the expanding middle-class population and their increasing disposable income. This demographic is allocating more budget towards bridal collections, fueling market expansion throughout the forecast period.

Browse market data tables, figures, and in-depth TOC on “Rings Market” by Distribution Channel (Offline, Online) End-user (Women, Men) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

The women's rings market exhibits a significant end-user dominance in 2023, with this trend anticipated to persist throughout the forecast period. The increasing preference for premium rings among women is driving the growth of this segment. With an extensive range of offerings, the women's rings market caters to diverse design and pattern preferences. Moreover, women consumers demonstrate a higher propensity towards luxury, making them more receptive to the latest trends in the luxury rings industry. Consequently, manufacturers are continually introducing innovative designs and patterns to cater to this discerning segment.

By End-user, Women  segment is expected to hold the largest market size for the year 2024

In the global rings market, the organized retailing channel, which includes specialty stores, department stores, exclusive brand outlets, multi-brand stores, and premium fashion retailers, dominates revenue generation. Vendors strategically operate these offline stores based on customer demographics, geographical markets, cultural nuances, production facilities, and inventory logistics. However, the offline distribution channel's market share has been gradually eroding due to the increasing trend towards online shopping. Despite this challenge, offline retailers continue to cater to customers who prefer a tactile shopping experience and immediate gratification.

APAC is forecasted to hold the largest market size by region in 2024

In the dynamic business landscape of the Rings Market, growth is driven by innovative product design, competitive pricing, and strategic distribution channels. Market leaders prioritize consumer preferences, leveraging data analytics to inform marketing strategies and optimize inventory management. Collaborative partnerships and mergers & acquisitions also play a pivotal role in expanding market share and enhancing brand reputation.

The Rings Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Brilliant Earth LLC
  • Charles and Colvard Ltd.
  • Chow Tai Fook Jewellery Group Limited
  • Compagnie Financiere Richemont SA
  • David Yurman Enterprises LLC
  • GIVA Jewellery
  • Malabar Gold and Diamonds
  • Pandora Jewelry LLC
  • PC Jeweller Ltd.
  • ROBBINS BROS
  • Signet Jewelers Ltd.
  • Swarovski AG
  • Tata Sons Pvt. Ltd.
  • The LVMH group
  • The Swatch Group Ltd.
  • Tiffany and Co
.

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Research Analysis Overview

Title: The Evolving Rings Market: Wearable Technology Meets Fashion and Personalization The rings market is witnessing a significant transformation as wearable technology merges with fashion and personalization. Smart rings, the latest addition to the wearable devices family, offer more than just a symbol of love and commitment. These rings come equipped with features like timekeeping, navigation, health and wellness tracking, and smart home control. Smart rings, often made of valuable metals like gold, are designed to blend seamlessly with traditional jewelry. They boast sensors such as gyroscopes, accelerometers, heart rate monitors, ECG monitoring, blood oxygen monitoring, and stress monitoring. These sensors connect to smartphones via Bluetooth, enabling real-time data tracking and analysis. Moreover, some smart rings even offer GPS tracking, making them an ideal choice for adventure enthusiasts. The rings are not just accessories but powerful machinery that sits on your ring finger. Ethical material sourcing is a priority in the jewelry industry, ensuring these rings are not just tech-savvy but also socially responsible. The future of the rings market lies in the perfect blend of fashion, personalization, and advanced technology.

Market Research Overview

Title: The Rings Market: Data Transfer, Wi-Fi Connectivity, and More in Smart Rings The rings market is evolving beyond traditional jewelry, with the integration of advanced technologies such as Data Transfer, Wi-Fi Connectivity, NFC Technology, and Bluetooth Technology. Smart Rings, a new category of wearable devices, offer more than just fashion and personalization. They serve as IoT devices, enabling smart home control, navigation, timekeeping, health and wellness monitoring, and contactless payments. These rings come with sensors like heart rate monitors, gyroscopes, accelerometers, ECG monitors, blood oxygen monitors, and stress monitoring. They can be made from various materials, including metals like platinum, gold, and alternative metals, and feature gemstones such as diamonds, rubies, sapphires, and colorful gemstones in contemporary ring designs. The smart ring industry is a powerful machinery, blending machine precision with the artistry of jewelry. From wedding bands to fashion rings, these rings cater to various styles and preferences. Ethical materials are increasingly being used in the jewelry industry to meet the changing consumer demands. Smart rings connect to smartphones via Bluetooth for seamless data transfer and offer features like GPS tracking and activity tracking. They are not just accessories but tools for enhancing everyday life. The future of the rings market lies in continuous innovation and integration of advanced technologies.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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