When Oura launched its first smart ring in 2015, skeptics wondered if anyone would trade their smartwatch for a piece of jewelry. Ten years later, the Finnish company has sold more than 5.5 million rings worldwide, with more than half of those sales in just the past year.
Once a niche market, smart rings are now at the forefront of wearable tech — smaller, sleeker and more intimate than wrist-worn devices.
The company’s revenue surpassed $500 million in 2024 alone, with forecasts of nearly $2 billion by 2026. Oura now commands an estimated 80% share of the global smart ring market, cementing its dominance in a category it helped define.
“Oura has sold over 2.5 million rings since June 2024, reaching in just over a year what previously took the company 11 years to achieve since its founding in 2013,” Tom Hale, chief executive officer of Oura Health, said in a news release.
The secret lies in Oura’s ability to blend style and science. Beneath the polished exterior lies powerful health tech: Advanced sensors track sleep cycles, heart rate variability, stress and even women’s health milestones such as pregnancy and perimenopause. For many, an Oura ring has become less a gadget and more a wellness companion.
The device’s success reflects a broader trend. The global wearable technology market, valued at $84.2 billion in 2024, is projected to reach $186.1 billion by 2030. Rising health awareness, chronic disease monitoring and seamless integration with the Internet of Things (a network of connected smart devices) are among the reasons for its popularity.