Global Smart Glove Market is valued approximately at USD 2.4 billion in 2022 and is anticipated to grow with a growth rate of more than 9.6 % over the forecast period 2023-2030. A smart glove is a type of wearable technology that is designed to mimic human hand movements and detect force and pressure. It is typically equipped with sensors that are linked to a computer and can be used to control virtual objects, or to interact with physical objects in a virtual environment. Furthermore, Smart gloves can also be used in medical applications, such as to monitor hand movements and detect changes in physical conditions. The Smart Glove market is expanding because of factors such as development in consumer electronics and healthcare. However, its importance has progressively increased during the last few decades.
According to the Statista the worldwide consumer electronics market was expected to generate 125.5 billion US dollars more in revenue between 2023 and 2028 (+12.21%). In 2028, the income is anticipated to reach 1.2 trillion USD. According to the Statista, in 2022 the global market for artificial intelligence (AI) in healthcare was estimated to be valued about 11 billion dollars. According to predictions, the worldwide healthcare AI industry would be worth almost 188 billion US dollars by 2030, growing at a rate of 37% CAGR between 2022 and 2030. In addition, rising flexibility in wearable technology and a high growth rate in smaller market segments are expected to provide lucrative opportunities for the market growth during the forecast period. However, the high cost of smart gloves and Lack of technological awareness stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Smart Glove Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market with largest market share in the Smart Glove Market during the forecast period due to rising demand for health monitoring applications and integration of technologies such as IoT and artificial intelligence in the fitness, industrial, and healthcare sectors, According to Statista, Health expenditure in the U.S. have been increasing over time and are projected to keep increasing. As of 2021, the U.S. spent a total of USD 4.2 trillion on healthcare. Asia-Pacific is expected to be the fastest region in the Smart Glove Market due to rapid technological advancements and increased disposable income.
Major market player included in this report are:
HaptX, Flint Rehab
Vandrico Solutions Inc. (Oxstren)
Workaround GmbH (ProGlove)
Samsung Electronics Co. Ltd.
Shenzhen Seekas Technology Co. Ltd.
Blue Infusion Technologies
Recent Developments in the Market:
In Jan 2021: HaptX launched HaptX Gloves DK2, improved haptic feedback gloves featuring “true-contact” haptic technology. These gloves offered its users the sensation of touch when they interacted with something in a VR game or app. The technology allowed them to feel the texture, size, weight, and impact of objects in a virtual environment.
In June 2021: Dexta Robotics lauched Dexmo Enterprise Edition, the world’s premier wireless force feedback gloves. These smart gloves empower its users to perform real-life actions with their full-hand dexterity in the virtual world. The advanced sensors equipped in the gloves enable users to feel the shape, texture, size, and stiffness of virtual objects.
In Jan-2020: Samsung Electronics America collaborates with ProGlove, a leading company involved in developing wearables. The collaboration announced a combined product solution to meet the rising need for wearable scanners in industries ranging from transportation, retail, manufacturing, and logistics. The combined solution is composed of ProGlove’s MARK product family of wearable barcode scanners and Samsung’s most advanced ruggedized smartphone for business – the Galaxy XCover Pro – offering enterprise users a smooth, secure flow of information.
Global Smart Glove Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Usage, Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Specific Health Monitoring Device
Media and Connected Device
Middle East & Africa
Rest of Middle East & Africa