Oura is going public, but these smart ring companies are coming for its crown
While Oura has largely dominated the smart ring market for years, a growing number of rivals are now racing to dethrone it by trying all sorts of approaches to get an edge over it.
The smart ring market is experiencing rapid growth, with Oura Corporation filing to go public on September 3, 2025. The company's revenue nearly doubled to $1.21 billion for the nine months ending June 30, 2025, and it has sold 3.6 million rings and 5 million paid members over the past year. Oura's latest offering, the Oura Ring 5, is the slimmest and lightest ring in the market so far.
However, Oura faces stiff competition as other companies launch their own smart rings. French company Circular has announced its upcoming Ring 3 series, which will include an NFC chip for contactless payments and vibration alerts for various notifications. Meanwhile, Chinese firm RingConn introduced its Gen 3 model, which focuses on vascular health insights and vibration-based health alerts.
Indian startup Ultrahuman raised $70 million to develop the Ring Pro, a highly ambitious ring with on-device processing capabilities and a redesigned form factor to bypass Oura's patent.
Other contenders like Samsung's Galaxy Ring, priced at $399, cater to users already invested in Samsung's ecosystem, although it lacks some advanced health tracking features. The newest entrant, Dreame, has unveiled a ring with haptic alerts for alarms, calls, and messages, along with a touchpad for interacting with your phone. With the race to incorporate more smartphone-like features into smart rings heating up, the market is becoming increasingly confusing, potentially blurring the line between wearable technology and mini smartphones.
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