BEIJING, Aug. 01, 2022 (GLOBE NEWSWIRE) — The Global Smart Glove Market Size was valued at USD 2,289 Million in 2021 and is predicted to be worth USD 4,983 Million by 2030, with a CAGR of 9.3% from 2022 to 2030.
The smart glove is an upgraded advanced wearable device that enables users to interact with digital products using a more transparent and factual way. The primary factors driving the growth of global smart gloves include improvements in technology and research, as well as the introduction of potential firms into the global smart glove market. Furthermore, the worldwide market for smart gloves is being driven by the increased use of wearable electronics. The rapid growth in healthcare sectors, as well as the rising flexibility of wearable technology, present significant prospects for the worldwide smart glove market.
Smart gloves are portable electronic devices with embedded systems that are designed to be worn as an auxiliary while performing specified duties. These capabilities include reliable monitoring systems, fitness tracking, communication assistance for the visually handicapped or hearing impaired, as well as other industrial uses. Smart gloves are frequently equipped with integrated motion sensors, such as bend readers and hall impact sensors, to trace the alignment of the hands and fingers and improve task performance, accuracy, and efficiency. Moreover, it is an advanced wearable gadget that enables consumers to interact with virtual objects more intuitively and effectively. Additionally, the smart wearable accessories pretend to provide delicate inputs that consumer hands may sense, namely tactile and kinesthetic stimulation that replicates handling and touching things. Likewise, new technologies can be utilized as wearable technology, specialist health problem monitoring devices, media devices, or to connect to other electronic devices.
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|Market||Smart Glove Market|
|Market Size 2021||USD 2,289 Million|
|Market Forecast 2030||USD 4,983 Million|
|CAGR During 2022 – 2030||9.3%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Usage, By Industry Vertical, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Apple Inc., HaptX, Neofect, Workaround GmbH (ProGlove), Shenzhen Seekas Technology Co. Ltd., Dexta Robotics, Blue Infusion Technologies, Vandrico Solutions Inc. (Oxstren), Samsung Electronics Co. Ltd., saebo, inc., and Flint Rehab.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Smart Glove Market Dynamics
The rapid improvement of technology and growing comfort and interoperability of wearables are the primary factors driving the market for smart gloves. The widespread use of accelerometer sensors, Bluetooth chips, flex sensors, and microcontrollers is fueling market expansion. Furthermore, the healthcare industry’s authorization of smart gloves for monitoring body hydration, converting hand motions into talks, and real-time surveillance of heart rhythm has accelerated market expansion. The market is predicted to gather momentum over the forecast period due to an increasing preference for suitable fitness.
Furthermore, the growing popularity of smart gloves among the hearing impaired, visually impaired, as well as speech impaired around the world, owing to their capacity to recognize gestures, support market expansion. Motion-tracking technologies are used in these smart gloves to transform sign language into voice. The converted data can subsequently be transmitted wirelessly across several platforms. The widespread adoption of these technologies in industrial verticals such as automation and virtual environments is also driving market expansion. Smart glove technology improves command over simulated and autonomous hands via a feedback mechanism that provides physical stimulation to the consumer. This contributes to the increasing use of smart gloves in entertainment sectors such as augmented and virtual reality.
However, the massive prices of smart gloves, technological mistakes, and a lack of awareness of the advantages of such technologies are limiting the industry’s growth. Furthermore, in the anticipated timeframe, their innovative capabilities are anticipated to produce profitable growth chances.
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Rapid advancement in consumer electronic products drives the market growth
Consumer electronics improvements along with a variety of technological improvements in electronics industry are major driving factor for the Smart Glove Market. The introduction of digitization and the most recent advancements in sensor technology designed to enhance the performance of the system are boosting the industry even further. Additionally, due to adverse technology innovations that use an amalgamation of detecting and feedback functionality to identify better systems, the market for smart gloves is growing.
According to Acumen Research and Consulting, the worldwide smart glove market is segmented by usage and industry verticals. In terms of usage, the market has been divided into specific health monitoring gadgets, fitness trackers, media and connected devices, and others. In terms of the industry vertical, the section is categorized into healthcare, fitness, industrial, and others.
Smart Glove Market Regional Outlook
The smart glove market is divided into five geographical segments: Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. During the projected timeframe, Asia-Pacific is predicted to develop at the fastest rate in the worldwide Smart Glove Market. The Asia-Pacific area is predicted to grow at a rapid pace during the projection period as a result of rapidly advancing technology and greater expendable income. Greater spending, advancements in technology research and development, and rising internet as well as smartphone usage in Asia-Pacific nations including China, India, and Japan are likely to drive the growth of the smart gloves industry in the predicted timeframe.
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Smart Glove Market Players
Some of the prominent smart glove market companies are Apple Inc., HaptX, Neofect, Workaround GmbH (ProGlove), Shenzhen Seekas Technology Co. Ltd., Blue Infusion Technologies, Flint Rehab, Vandrico Solutions Inc. (Oxstren), Samsung Electronics Co. Ltd., saebo, inc., and Dexta Robotics.
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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
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