Oura is a health technology company founded in Finland by Petteri Lahtela, Kari Kivelä, and Marrku Koskela in 2013. The company is best known for its smart ring product that tracks sleep and physical activity using biometric data.
According to an American College of Sports Medicine survey of 4,500 health and fitness professionals, wearable technology is the top fitness trend for 2022. The industry itself is predicted to be worth over $265 billion by 2026, with Google’s acquisition of Fitbit in 2021 further validation of the growth and emergence of wearable technology.
The Apple Watch line of smartwatches is perhaps the most notable threat to Oura. More than 100 million people around the world own an Apple Watch, which is mainly used in conjunction with the iPhone.
Apple Watch owners use the Workout and Activity apps to track their workout sessions and send the data back to their iPhones for analysis. There, it can be incorporated into the Health app and other software with HealthKit informatics.
The Sleep app can also be used to collect sleep data, but some consumers will prefer the Oura ring because it is more comfortable to wear overnight.
Fitbit is an American fitness and consumer electronics company that, as we noted earlier, was acquired by Google in January 2021.
Fitbit sells a range of products, including watches, trackers, smart scales, and accessories such as custom wrist brands. It also offers a premium membership option where users can access customized fitness and health programs, insights, sleep tools, and dynamic workouts.
WHOOP is another wearable tech company headquartered in Boston, Massachusetts, and founded by Will Ahmed in 2012.
The company promotes its wearables as the latest and most advanced on the market, with the user able to monitor their sleep, recovery, training, and overall health with personalized feedback and recommendations. As a result, WHOOP products are more targeted toward high-performance athletes and come in styles that match the company’s line of sports apparel.
Movano is a more direct Oura competitor in the sense that it also sells a wearable ring that provides accurate sleep, heart rate, bloody oxygen concentration, and body temperature data.
Circular also sells a wearable ring that offers “a unique combination enabling blood oxygenation monitoring and clinical-grade heart rate accuracies.” It also features a non-obtrusive design that enables it to be worn underwater, during climbing, and at high altitudes.
Like the Movano Ring, the Circular is not yet available to the public and is expected to be delivered no later than July 2022.
- Oura is a health technology company founded in Finland by Petteri Lahtela, Kari Kivelä, and Marrku Koskela in 2013.
- With backing from its powerful parent company, the Apple Watch and its over 100 million users represent the most significant competitive threat to Oura. Google-owned Fitbit is another company with similar influence.
- Circular and Movano are two companies that have developed wearable rings similar to those offered by Oura. Both companies’ products are in the pre-release stage and are not expected to be available until the second half of 2022.