An industry insider has revealed that Apple is on the cusp of launching their long-rumored wearable, the "Apple Ring." The revelation follows Samsung's recent tease of the Galaxy Ring during its Unpacked event in January, promising to significantly expand the smart ring market. Apple, encouraged by Samsung's move, has reportedly been actively advancing their smart ring development, evident from their consistent release of smart ring-related patents over the years.

Although a launch date for the Apple Ring is under consideration, Apple's interest in the wearable accessory aligns with the anticipated exponential growth of the global smart ring market. Business Research Insight projects the market to surge from $20 million in 2023 to nearly $200 million by 2031, indicating a tenfold increase in just eight years.

With a focus on advanced healthcare technologies, Apple's foray into smart rings is poised to revitalize the ecosystem for necessary components like biosensors for monitoring health, making them a valuable tool in wellness management. Reports suggest that Apple's smart ring could feature capabilities such as short-range wireless communication to control smartphones and other devices, a touch-enabled display, gesture input via accelerometers and a gyroscope, as well as heart-rate monitoring.

While skepticism lingers over the purported imminent launch of the Apple Ring, Apple's extensive history of exploring the potential functionalities of a smart ring dating back to 2015, 2007, and even earlier, underscores the tech giant's prolonged contemplation and innovation in this sector.

Although the timing of the Apple Ring's release remains uncertain, Apple's relentless pursuit of patents and cutting-edge technologies hints at the company's commitment to diversifying its product offerings and venturing into the expanding market of wearable smart accessories.