Summary
Market Overview:
The global smart gloves market size reached US$ 2.61 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 4.55 Billion by 2028, exhibiting a growth rate (CAGR) of 9.12% during 2023-2028. The accelerating demand for wearable technology, the rising popularity of virtual reality (VR) and augmented reality (AR) applications, and continual technological advancements represent some of the key factors driving the market.
Smart gloves, also known as electronic gloves or e-gloves, refer to an innovative and versatile wearable technology that combines traditional gloves with sensors and electronics. These gloves are equipped with several sensors, including accelerometers, gyroscopes, and pressure sensors, for intuitive and direct manipulation of virtual objects using kinesthetic and tactile feedback that simulates touching and handling items. The gloves are worn for an extended period and are equipped with circuitry, wireless connectivity, and independent processing capability, providing an enriched user experience. Additionally, these gloves integrate tiny electronic parts including microcontrollers, Bluetooth modules, and batteries and can also connect to other electronic devices via wireless protocols, such as Bluetooth or Wi-Fi, to collect and transmit data. Additionally, these gloves utilize vibration or other feedback techniques to provide individuals with disabilities tactile assistance. As a result, they find extensive applications in tracking hand movements for virtual reality or gaming applications, controlling electronic devices, and capturing data for sports or fitness training purpose.
Smart Gloves Market Trends:
The global market is primarily driven by the accelerating demand for wearable technology among the masses. This can be attributed to the rising popularity of virtual reality (VR) and augmented reality (AR) applications and the augmenting need for a more immersive experience. In line with this, the rising demand for gesture control technology, particularly in the gaming industry, is providing an impetus to the market. Also, a considerable rise in industrial automation is resulting in rapid product utilization to improve worker safety and productivity in industrial settings. Moreover, continual technological advancements, such as improved sensor technology, conductive fabrics and flexible electronics, are fueling the market. Additionally, the growing usage of smart gloves in medical sector to monitor vital signs and track patient health as well as accurately track hand movements in surgical applications is creating a positive outlook for the market. The market is further driven by the growing demand for fitness and sports performance tracking purposes. Apart from this, the rising military expenditure by multiple countries resulting in a higher uptake of smart gloves for communication, navigation, and data collection is also acting as a significant growth-inducing factor. Some of the other factors contributing to the market include rapid urbanization, the advent of Industry 4.0, rising healthcare expenditure, inflating disposable income levels and extensive research and development (R&D) activities.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each segment of the global smart gloves market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on usage and industry vertical.
Usage Insights:
Specific Health Monitoring Device
Fitness Tracker
Media and Connected Device
Others
The report has provided a detailed breakup and analysis of the smart gloves market based on the usage. This includes specific health monitoring device, fitness tracker, media and connected device, others.
According to the report, specific health monitoring device represented the largest segment.
Industry Vertical Insights:
Healthcare
Industrial
Fitness
Others
A detailed breakup and analysis of the smart gloves market based on the industry vertical has also been provided in the report. This includes healthcare, industrial, fitness, and others.
According to the report, healthcare accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
According to the report, North America was the largest market for smart gloves. Some of the factors driving the North America smart gloves market included continual technological advancements, high military expenditure, considerable rise in the gaming industry, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global smart gloves market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Dexta Robotics, Flint Rehabilitation Devices LLC, HaptX Inc., NEOFECT Co. Ltd., ProGlove, Saebo Inc, Vandrico Solutions Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global smart gloves market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global smart gloves market?
What is the impact of each driver, restraint, and opportunity on the global smart gloves market?
What are the key regional markets?
Which countries represent the most attractive smart gloves market?
What is the breakup of the market based on the usage?
Which is the most attractive usage in the smart gloves market?
What is the breakup of the market based on the industry vertical?
Which is the most attractive industry vertical in the smart gloves market?
What is the competitive structure of the global smart gloves market?
Who are the key players/companies in the global smart gloves market?
