According to a Research and Markets report published in November 2024, the global luxury smart jewellery market is likely to register a CAGR (compound annual growth rate) of 18.7% from 2024 to 2030. In 2023, the ‘fitness tracking’ feature dominated the smart-jewellery market with smart rings as the most popular product. In addition to fitness tracking, an increase in chronic diseases around the world has also necessitated health monitoring thus increasing the demand for smart jewellery, the report states.
Factors such as the increasing demand for multifunctional and aesthetically appealing jewelry and the growing adoption of wearable technology fuel the market growth. Smart jewelry, equipped with advanced features such as personalized communication, notifications, and fitness tracking, is gaining popularity among consumers. In addition, the integration of Internet of Things (IoT) technology and the rising focus on wellness and health are expected further to propel the market's growth over the forecast period.
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