Connect with us

Technology

Rings Market to Expand by USD 45.2 Billion (2024-2028) Driven by Rising Wedding Ring Demand, How AI is Transforming the Market Landscape- According to Technavio

Published

on

NEW YORK, Aug. 26, 2024 /PRNewswire/ — The global rings market size is estimated to grow by USD 45.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 8.53%  during the forecast period. Increasing demand for wedding rings is driving market growth, with a trend towards growing focus of vendors on brand endorsement. However, availability of counterfeit rings in market  poses a challenge. Key market players include 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., and Tiffany and Co.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Rings Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.53%

Market growth 2024-2028

USD 45.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.72

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 51%

Key countries

China, US, India, UK, and France

Key companies profiled

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., and Tiffany and Co

Market Driver

Vendors in the rings market employ celebrity endorsements as an effective marketing strategy to captivate consumer interest and establish a favorable brand image. This approach offers several advantages, such as increased brand recognition through association with familiar faces, enhanced customer trust in product quality, and extended reach through continuous advertisement exposure. Notable brands like Malabar Gold and Diamonds, Titan, and Pandora have utilized this strategy for decades. Recent endorsements include Tiffany’s campaign featuring Hailey Bieber for their T Collection and Swarovski’s partnership with Bella Hadid. These collaborations not only boost sales but also fortify customer relationships, contributing to the growth of the global rings market. 

The jewelry industry is seeing a trend towards ethical materials in ring production. Wedding rings, traditionally made of gold or platinum, are now being crafted from alternative metals. Blending machines and powerful machinery are used to create unique metal alloys, resulting in contemporary wedding bands. Gemstones like sapphires, rubies, and diamonds add color and value to these designs. Smart Rings are the new trend, integrating sensors for activity tracking, heart rate monitoring, and even contactless payments. With the rise of wearable devices and IoT, these smart rings offer features like GPS tracking, sleep and stress monitoring, and even blood oxygen and ECG monitoring. The future of the rings market lies in the fusion of jewelry sales and technology, offering functional beauty for modern consumers. 

Explore a 360° Analysis of the Market: Unveil the Impact of AI. For complete insights- Request Sample!

Market Challenges

The global rings market faces a significant challenge from the prevalence of counterfeit rings. This issue negatively impacts sales of branded rings, creating an unbalanced competitive landscape. Counterfeit rings are often sold at lower prices than authentic ones, making it difficult for consumers to distinguish between the two. The Asia Pacific region, particularly developing countries like China, is a major source of counterfeit jewelry, including rings. These fake rings are then exported to developed markets, such as the US, leading to substantial financial losses. The poor quality and non-compliance with manufacturing standards of counterfeit rings can damage consumer trust in international brands, hindering their growth in emerging markets. Several e-commerce platforms in China sell counterfeit rings, exacerbating the problem. As a result, the presence of counterfeit rings is expected to impede the growth of the global rings market during the forecast period.In the dynamic world of jewelry sales, Rings Market faces unique challenges with the rise of contemporary wedding rings made from alternative metals and colorful gemstones like sapphires and rubies. Traditional rings made of diamonds continue to dominate, but wearable technology integration is transforming the industry. Smart Rings, equipped with sensors for activity tracking, heart rate monitors, and even GPS tracking, offer health and wellness benefits. Bluetooth and NFC technology enable contactless payments and smart home control. Fitness enthusiasts and health-conscious consumers seek rings with advanced features like blood oxygen monitoring, ECG monitoring, and sleep tracking. Jewelry sales must adapt to this tech-driven landscape, integrating IoT devices and wearable technology seamlessly. Accelerometers, gyroscopes, and other sensors ensure accurate tracking, while Wi-Fi connectivity and data transfer facilitate seamless interaction with smartphones and smart homes. Fashion and personalization remain essential, but wearable technology’s functional benefits are increasingly important to consumers.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This rings market report extensively covers market segmentation by  

Distribution Channel1.1 Offline1.2 OnlineEnd-user 2.1 Women2.2 MenGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Offline-  The offline distribution channel, which includes specialty stores, department stores, exclusive brand stores, multi-brand stores, and premium fashion stores, accounts for the majority of revenue in the global rings market. Vendors invest in brand-owned organized retail stores to expand their market reach and customer base. For instance, Chow Tai Fook Jewellery Group aims to increase its POS facilities from 4,850 stores to over 7,000 by 2025. Technology adoption, such as cloud kiosks, enhances the shopping experience and transaction efficiency. Vendors also invest in jewelry crafting to produce innovative designs at affordable prices, increasing the visibility of branded rings and driving market growth. Chow Tai Fook’s innovation center and jewelry crafting facility in Bangkok optimize high-volume production, supplying new jewelry designs to its stores. Organized retailing growth increases customer familiarity with various ring types, driving value sales in the global rings market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Rings Market is experiencing a significant transformation as traditional jewelry pieces evolve into high-tech accessories. Ethical materials, such as recycled gold, are increasingly popular in the creation of wedding rings and other bands. The ring finger is no longer just a symbol of love, but also a platform for advanced technology. Blending machinery and powerful machinery are used to combine metal, often gold, to create valuable wedding bands. Smart Rings are the new trend, integrating sensors for activity tracking, heart rate monitors, gyroscopes, accelerometers, GPS tracking, sleep tracking, stress monitoring, and even blood oxygen and ECG monitoring. These rings connect to smartphones via Bluetooth, offering features like timekeeping, navigation, smart home control, and fashion and personalization options. Wearable technology has taken the jewelry industry to new heights, merging health and wellness with fashion.

Market Research Overview

The Rings Market is a significant segment of the Jewelry industry, focusing on the production and sales of various ring designs, primarily for weddings. Ethical materials, such as recycled metals, are increasingly popular, with gold and platinum being the most valued. Blending machines and powerful machinery are used to create unique alloys and blend different metals. Gemstones, including sapphires, rubies, and diamonds, add color and value to these rings. Smart Rings are the latest trend, integrating technology such as accelerometers, gyroscopes, heart rate monitors, GPS tracking, and sleep tracking. Alternative metals and metal wedding bands are also gaining popularity. The market is expanding with the integration of IoT devices, contactless payments, smart homes, and wearable technology, offering features like fitness tracking, health monitoring, timekeeping, navigation, smart home control, and fashion and personalization. NFC Technology, Wi-Fi connectivity, and data transfer are essential for seamless integration with smartphones.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineEnd-userWomenMenGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/rings-market-to-expand-by-usd-45-2-billion-2024-2028-driven-by-rising-wedding-ring-demand-how-ai-is-transforming-the-market-landscape–according-to-technavio-302230535.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Ningbo’s “Eco+” Integration Practice showcased at SCO forum

Published

on

By

NINGBO, China, April 28, 2026 /PRNewswire/ — The Shanghai Cooperation Organization’s (SCO) Green and Sustainable Development Forum was held in Ningbo, Zhejiang province, April 28–30. At this international event focused on green, low–carbon transition, Ningbo showcased concrete examples of harmonious coexistence between people and nature.

An abandoned quarry has been converted into an international racetrack, whose engine roars have stimulated a growing cultural and tourism sector. A once–barren “firewood trail” has been upgraded into a national mountaineering route, spawning distinctive local industries now known as the “Hometown of China’s Sports Walking Sticks” and the “Capital of China’s Flashlights.” Ningbo continues to advance its “Eco+” integration model, turning ecological assets into industrial momentum, development potential and measurable gains in shared prosperity. The city has developed a practical path for realizing the value of lucid waters and lush mountains, offering a replicable “Ningbo model” for green, low–carbon urban transformation worldwide.

In Beilun, more than 500 species have been recorded, and the district has been designated a UN “Biodiversity Charming City.” From the revitalized Meishan Bay in Beilun to the misty expanse of Dongqian Lake in Yinzhou and the historic allure of Moon Lake in Haishu, local authorities are using the “golden key” of ecological governance to revive dormant green mountains and clear waters. Notably, Ningbo’s ecological governance goes beyond mountain repair and water treatment: it integrates “Eco+” development from the source through unified planning and coordinated implementation—protecting ecological foundations while preserving space for industry. This forward–looking approach has produced a win–win outcome for ecology and development; along Meishan Bay’s shore, cultural tourism and leisure industries have rapidly clustered, receiving more than 2 million visitors annually.

In Fenghua, the “Common Prosperity Studio” initiative has built a full–chain platform integrating “5G + IoT + Agriculture,” and introduced a model that combines village–collective fixed–rent leasing, professional enterprise operation and flexible farmer participation. In Yuyao, Hemudu pioneered China’s first ecological integrated farming of breeding soft–shelled turtles in water oat fields, balancing ecological protection, food security and farmers’ income growth. Zhenhai Refining & Chemical has established China’s first “Zero–Waste Petrochemical Base,” recognized as a national model case of a “Zero–Waste Industrial Park.”

Leveraging its mountain and sea resources, Ningbo has deepened chain–based integration of “Ecology + Cultural Tourism + Sports + Manufacturing,” continuously converting ecological value into tangible benefits for residents. Ninghai has transformed abandoned ancient paths into a 500–km national mountaineering trail and established a national sports–industry demonstration base. Xiangshan has used the Asian Games to invigorate coastal tourism and open channels for converting marine ecological value. Yinzhou and Haishu have developed biodiversity–friendly districts and townships, fostering new sectors such as educational tourism and cultural–creative industries.

To ensure green development proceeds steadily and sustainably, Ningbo is building a multi–stakeholder governance system that includes government, enterprises and the public. Ninghai has pioneered a “Soil and Forestland Bank,” using financial instruments to unlock the value of forestry resources. Yinzhou, Cixi and other areas have mobilized broad public participation in ecological protection, creating a co–construction and shared–benefits model that supports ongoing ecological value realization.

Photo – https://mma.prnewswire.com/media/2968174/Ningbo_Meishan_Port.jpg
Logo – https://mma.prnewswire.com/media/2968173/Ningbo_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ningbos-eco-integration-practice-showcased-at-sco-forum-302756146.html

SOURCE Ningbo International Communication Center

Continue Reading

Technology

Hyde Park Capital Advises DevRefactory on its Sale to Capacity

Published

on

By

TAMPA, Fla., April 28, 2026 /PRNewswire/ — Hyde Park Capital announced today that its client, DevRefactory, a leading customer experience software platform specializing in omnichannel journey orchestration, embedded middleware, and integrated managed services, has been acquired by Capacity. Hyde Park Capital served as the exclusive investment banker to DevRefactory for this transaction. Shumaker, Loop & Kendrick served as legal counsel to DevRefactory.

DevRefactory’s platform orchestrates customer interactions across voice, chat, web, and social channels, enabling seamless transitions while preserving context. It centralizes knowledge, powers self-service and chatbot experiences, and streamlines engagement across the customer lifecycle. These capabilities are complemented by a specialized managed services team supporting implementation, optimization, and ongoing performance improvement.

Marcus Alexander, CFO and Head of Corporate Development at Capacity, stated, “The DevRefactory team have built an incredible business in the telecom space and this acquisition allows us to scale that innovation across the entire Capacity platform. Together, we’re accelerating a future where contact centers can unify their customer interactions, reduce costs and deliver consistently better experiences, without the complexity of fragmented tools.”

James Ramey, Co-Founder and Managing Partner of DevRefactory, commented, “After rapidly establishing Refactory as a leader in AI enablement—delivering enterprise-grade solutions to Fortune 50 organizations—we are excited to announce that Refactory has been acquired by Capacity AI. This partnership will expand our ability to deliver true omnichannel AI experiences at scale, leveraging Capacity AI’s platform and reach across more than 20,000 customers worldwide.”

Ramey continued, “Following strong inbound acquisition interest, we partnered with Hyde Park Capital as our exclusive financial advisor to evaluate strategic opportunities. Their team brought exceptional focus, deep alignment with our vision, and a disciplined process that prioritized both enterprise impact and employee value. Hyde Park Capital curated a highly complementary group of potential partners and guided us through a transaction that positions our team and technology for long-term success. Together, we selected Capacity AI as the ideal partner to accelerate our mission and extend the reach of Refactory’s platform globally. We are incredibly grateful to the Hyde Park Capital team and the Capacity AI team for their partnership throughout this process, and we are excited for the next chapter as part of Capacity AI.”

Michael Johnson, Managing Director at Hyde Park Capital, reflected on the transaction, “It has been a privilege to advise JC, Brian, and Dustin, the founders of DevRefactory, throughout this process. From day one, it was clear that they built something truly differentiated, a platform rooted in deep technical expertise and a genuine passion for reimagining how enterprises engage with their customers. DevRefactory’s capabilities are a natural fit within Capacity’s platform, and we are excited to see the impact this combination will have for their clients and the broader customer experience market.”

Trevor Mumford, Vice President at Hyde Park Capital, added, “It was genuinely refreshing to work with a founding team that has been close friends since high school and has spent years building technology together. Working alongside entrepreneurs who combine that kind of personal conviction with serious technical innovation makes for a truly rewarding engagement. We’re proud of the outcome and confident Capacity is the right home to take DevRefactory’s mission to the next level.”

About DevRefactory

Founded in 2020, DevRefactory is a customer experience software platform that enables enterprises to deliver seamlessly connected, omnichannel customer journeys at scale. Through its OCX (Omnichannel Customer Experience) suite, DevRefactory provides embedded middleware, managed services, and practical AI frameworks that orchestrate engagement across voice, web chat, SMS, mobile apps, email, and social media. The Company’s solutions empower customers to interact on their own terms while eliminating the complexity of managing disparate channel technologies independently. Partnering with leading platforms, DevRefactory serves as an innovation accelerator, helping enterprises prove value rapidly and integrate modern omnichannel capabilities into their existing ecosystems. For additional information, please visit www.refactory.dev.

About Capacity

Founded in 2017, Capacity is an AI-powered support automation platform that gives organizations the capacity to do more with less. Its unified platform combines intelligent virtual agents, conversational AI, agent assist and live support tools, campaigns and workflow automation, and advanced analytics, enabling businesses to automate customer inquiries, reduce handle times, and drive consistent, high-quality experiences across every channel, including voice, chat, email, SMS, and web. Trusted by more than 20,000 organizations and powering over 36 billion automated interactions, Capacity serves leading brands across financial services, healthcare, retail, education, insurance, and more. With over 250 pre-built integrations and enterprise-grade security, Capacity delivers seamless deployment into existing technology ecosystems. Proudly headquartered in St. Louis, Missouri, Capacity is part of the Equity.com incubator. For additional information, please visit https://capacity.com/main.

About Hyde Park Capital

Hyde Park Capital is a boutique investment banking firm specializing in mergers and acquisitions of successful founder and family-owned companies. Hyde Park Capital’s principals have extensive investment banking experience, including managing sell-side and buy-side transactions, recapitalizations, financial advisory assignments, fairness opinions, raising growth and acquisition capital for companies, including equity, mezzanine, senior debt, and project finance. Hyde Park Capital has bankers who specialize in numerous industry sectors, including healthcare, industrials, business services, technology, consumer, and cleantech/power finance particularly in connection with data centers. This transaction represents another successful engagement closed by Hyde Park Capital within the technology sector. Hyde Park Capital is headquartered in Tampa, Florida, with additional offices in Nashville, Tennessee, and San Francisco, California, and is a member of FINRA and SIPC. For additional information, please visit www.hydeparkcapital.com.

Media Contacts:

Michael Johnson

Managing Director

johnson@hydeparkcapital.com

813-769-3284

Trevor Mumford

Vice President

mumford@hydeparkcapital.com

813-209-9071

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/hyde-park-capital-advises-devrefactory-on-its-sale-to-capacity-302756148.html

SOURCE Hyde Park Capital

Continue Reading

Technology

Micro Center Launches Retail Media Offering to Reach Tech Enthusiasts and Builders

Published

on

By

Powered by Epsilon, Micro Center Retail Media combines AI, person-level identity, and closed-loop measurement to deliver provable, measurable impact for advertisers.

HILLIARD, Ohio, April 28, 2026 /PRNewswire-PRWeb/ — Micro Center, a leading national retailer of computers and electronic devices, today announced the launch of its retail media offering, Micro Center Retail Media. The offering gives brands access to more than 20 million highly engaged Micro Center customers—tech enthusiasts including PC builders, small businesses, IT professionals and creators—audiences that are difficult to reach at scale through mass-market retail media networks. Using first party data and deep category insights, advertisers can influence purchase decisions where technical guidance, compatibility, and performance matter most.

“For more than 40 years, Micro Center has earned the trust of tech enthusiasts and builders by pairing deep expertise with an unmatched in-store experience,” said Steve Rado, Chief Marketing Officer of Micro Center. “Our retail media offering builds on that foundation, giving advertisers a powerful way to engage our customers with relevance, credibility and clear measurement.”

Developed in partnership with global technology, data, and services company Epsilon, Micro Center Retail Media couples AI with person level identity in the ad server to help advertisers engage high intent shoppers with greater precision. The offering intelligently determines when, where, and how often to engage customers, optimizing media investment to maximize performance.

Brands can activate campaigns across Micro Center’s digital and physical touchpoints to influence both online and in-store purchases. Available channels include onsite display and sponsored product placements as well as offsite display, video and CTV—all supported by closed-loop measurement that quantifies incremental sales across digital and physical environments.

“Micro Center Retail Media connects advertisers with some of the most knowledgeable, high-intent tech buyers in retail,” said Rado. “It’s a best-in-class offering designed to help advertisers engage serious tech buyers with confidence.”

Named PCMag’s Best Tech Retailer for three consecutive years, Micro Center is widely recognized for its expert-led customer experience and technical credibility. Instore offerings such as the Knowledge Bar, Insider credit card benefits, and exclusive instore only “loss leader” bundles create high-impact moments for brands at the point of decision. Customers rely on Micro Center associates to identify compatibility issues and recommend better builds—trust that translates directly to advertiser performance.

“Micro Center boasts one of the most informed and intentional audiences in retail,” said Chris Wissing, Chief Product Officer at Epsilon. “Our data and technology help identify more of these niche shoppers, follow their journey from online to in-store, and connect media directly to purchase outcomes for Micro Center and its brand partners.”

About Micro Center

Micro Center operates thirty large computer and electronics stores in major markets nationwide. Founded in 1979 in Columbus, Micro Center is designed to satisfy the dedicated computer and electronics user. Uniquely focused on computers and related products, Micro Center offers more computers and related items (more than 20,000 items in stock) than any other retailer. Micro Center is passionate about offering a high level of customer service, with a knowledgeable and tenured sales team. Customers can visit Micro Center’s 30 stores (with more locations coming soon) from coast-to-coast or microcenter.com for thousands of computer-related items, electronics, and other technology products.

Micro Center stores are located in:

Atlanta (2), Baltimore, Boston, Chicago (2), Charlotte, Cincinnati, Cleveland, Columbus, Dallas, Denver, Detroit, Houston, Indianapolis, Kansas City, Los Angeles, Miami, Minneapolis, New York (5), Philadelphia, Phoenix, St. Louis, Washington, D.C. (2), Santa Clara, and coming soon, Austin.

About Epsilon

Epsilon is a global technology, data, and services company that the world’s leading brands use to harmonize consumer engagement across their paid, owned, and earned channels.

The Epsilon PeopleCloud platform includes capabilities such as data, identity resolution, customer data platforms, clean rooms, digital media, retail media, site personalization, direct mail, loyalty, email marketing, and measurement. By applying artificial intelligence against privacy-centric identity resolution—embedded in data-enriched analytic, marketing, and media solutions and services—Epsilon allows marketers to bridge the divide between marketing and advertising technology, engaging consumers with 1 View, 1 Vision, and 1 Voice. For more information, visit www.epsilon.com.

Media Contact

Meg Adrion, Micro Center, 1 614-850-3000, madrion@microcenter.com, microcenter.com
Dan Ackerman, Micro Center, dackerman@microcenter.com, microcenter.com

View original content:https://www.prweb.com/releases/micro-center-launches-retail-media-offering-to-reach-tech-enthusiasts-and-builders-302755943.html

SOURCE Micro Center

Continue Reading

Trending