Huatai Securities says smart‑ring shipments are shifting from a niche market toward a standalone wearable category. IDC data: global shipments rose from 880k in 2023 to 4.34m in 2025; FDM CCS Insight forecasts ~6.0m in 2026 and ~15.0m by 2030. By contrast, smartwatches are forecast at ~162m units in 2026, implying smart rings would be roughly 4% of smartwatch volumes. Huatai notes smart rings have passed initial consumer‑need validation—Oura has a scaled user base and Samsung provides major‑play

Huatai Securities says smart‑ring shipments are shifting from a niche market toward a standalone wearable category. IDC data: global shipments rose from 880k in 2023 to 4.34m in 2025; FDM CCS Insight forecasts ~6.0m in 2026 and ~15.0m by 2030. By contrast, smartwatches are forecast at ~162m units in 2026, implying smart rings would be roughly 4% of smartwatch volumes. Huatai notes smart rings have passed initial consumer‑need validation—Oura has a scaled user base and Samsung provides major‑player validation—but Apple, Huawei and Xiaomi have not yet fully entered. The sector remains in brand and scenario verification and has not reached a full supply‑chain volume ramp.