Global Smart Glove Market Size, Share & Industry Trends Analysis Report By Usage (Specific Health Monitoring Device, Fitness Tracker, & Others), By Industry Vertical, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Smart Glove Market
Market Report Description
The Global Smart Glove Market size is expected to reach $3.9 billion by 2028, rising at a Market growth of 10.0% CAGR during the forecast period.
The smart glove is an improved wearable gadget that allows users to interact with virtual items in a more intuitive and direct manner. Furthermore, the smart wearable gloves imitate sensitive inputs that may be felt by the user's hands, such as kinesthetic and tactile feedback, which simulates touching and handling goods. Smart gadgets can also be used as a fashion statement, a fitness tracker, a specific health problem monitoring device, a media device, or to connect to other digital devices.
Smart Gloves are a type of sensor technology glove that can be used for advanced and personalized solutions such as hand protection, high-tech rehab devices, and other assistive device services. Smart Gloves are microcontroller-based electronic devices that provide cutting-edge opportunities for a variety of commercial applications, including medical grade gloves and industrial grade gloves. The rise of the Internet of Things (IoT), artificial intelligence, and connected devices, as well as advancements in wearable health devices, smart personal protective equipment with GPS, wireless communication features, and in-built voice assistance, have all aided the Smart Glove Industry's growth.
Smart wearable gloves are interactive gloves that can act as a translator for those who are deaf or hard of hearing. When these gloves are connected to MATLAB, they provide a high level of gesture detection accuracy. The integration of gesture recognition will be one of the primary elements that will have a beneficial impact on the industry's growth. To map the orientation of the hand and fingers, bend sensors, Hall Effect sensors, and accelerometers are incorporated inside smart wearable gloves. As a result, the healthcare industry is widely adopting and recommending gesture-recognition smart wearing gloves for people with disabilities. These gloves assist them in translating sign language into a more human-readable text message.
COVID-19 Impact Analysis
Due to a major impact on core companies functioning in the supply chain, the COVID-19 outbreak has had a significant impact on the growth of the smart glove Market in 2020. However, one of the significant factors driving Market expansion during the COVID-19 pandemic is the rise in demand for VR and AR-based smart solutions across key industries. During the COVID-19 pandemic, however, the Market was primarily hampered by a dearth of trained workers and project delays or cancellations due to partial or complete lockdown around the world. Furthermore, post-COVID-19, the spike in the adoption of smart infrastructure solutions across the consumer electronics, residential, and commercial sectors is likely to boost the smart glove Market opportunity.
Market Growth Factors
Rising Prominence of Healthcare Wearables
The growing demand for wearable medical devices is fueling the growth of the Smart Glove Market , due to strong awareness of healthy and a fitness lifestyle, as well as the popularity of linked gadgets in healthcare. Additionally, the advent of high-tech devices has ushered in a variety of potential solutions for clinical-grade wearables with 3G and 4G connections. UCLA bioengineers developed a glove-like device that uses a smartphone app to convert American Sign Language (ASL) into English speech in real-time in July 2020. Hand movements are translated into spoken words using a set of gloves with thin, stretchy sensors. As a result, the Smart Glove Market grew due to the high demand for tailored treatment, particular health issue monitoring devices, and user-friendly, small medical wearables.
Developments in Consumer Electronics
There are various developments take place in consumer technology with a variety of technological advantages, such as touch-sensitive features and tiny designs. The Market is being driven even further by the arrival of digitalization and the latest developments in sensor technology to improve user performance. For example, Mi.Mu, a British music technology firm founded by Grammy Award-winning composer Imogen Heap, announced the debut of the new Mi.Mu gloves in April 2019, allowing artists to map hand motions to music software. In addition, Mi.new Mu's gloves are tough and have a replaceable battery system, giving musicians total control over their musical performances.
Market Restraining Factors
High Prices and Risk of Failure of Smart Gloves
The Market for Smart Gloves is growing as a result of substantial technological advancements that combine sensing and feedback operations to create smarter systems. As a result, commercially available devices with smart glove features are prohibitively expensive, which is a major impediment to quick adoption. Due to this, factors such as less logical investment and unavailability of some of the most advanced smart glove technology in some countries due to high cost are anticipated to limit the Smart Glove Market .
Based on Usage, the Market is segmented into Specific Health Monitoring Device, Fitness Tracker, Media & Connected Device, and Others. The fitness tracker segment registered a promising revenue share in the smart glove Market in 2021. The rise in popularity of wearable technologies among the youth is propelling the fitness tracker Market forward. In addition, due to the rise in the healthy retirement trend, the elderly population's preference for these devices has increased. These gadgets also have high-end activity tracking tools and interactive operating systems, which increases demand for them.
Industry Vertical Outlook
Based on Industry Vertical, the Market is segmented into Healthcare, Industrial, Fitness, and Others. The healthcare segment acquired the largest revenue share in the smart glove Market in 2021. The widespread adoption of next-generation virtual reality and Internet of Things solutions has resulted in the expansion of smart glove solutions in the healthcare and fitness sectors, boosting the smart glove industry's growth. The data which these devices collect through tracking helps doctors and healthcare individuals better care for the patient.
|Market size value in 2021||USD 2.1 Billion|
|Market size forecast in 2028||USD 3.9 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 10% from 2022 to 2028|
|Number of Pages||158|
|Number of Tables||279|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Usage, Industry Vertical, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the Market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the smart glove Market in 2021. The Market in this regions is expected to be driven by the early acceptance of IoT, large-scale deployment of a broad range of ubiquitous systems, such as wearable computing and sensor technologies across multiple business sectors, and growing consumer interest in'sensorized' fitness wearable gadgets.
Free Valuable Insights: Global Smart Glove Market size to reach USD 3.9 Billion by 2028
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include Flint Rehabilitation Devices, LLC, Neofect, HaptX, Inc., Samsung Electronics Co. Ltd., Workaround GmbH (ProGlove), Shenzhen Seekas Technology Co., Ltd., Saebo, Inc., Dexta Robotics, and Vandrico Solutions, Inc.
Recent Strategies Deployed in Smart Glove Market
- Oct-2021: HaptX entered into a partnership with Haption, a France-based producer of top-spec force feedback devices. The partnership aimed at designing unmatched levels of full-body immersion for workers in robotics, training, and industrial design. This partnership permitted Haption to put an end to the production of its HGlove haptic gloves to work solely on Market ing HaptX gloves to their client base
- Jun-2021: Dexta Robotics released 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.
- Jun-2021: ProGlove extended its partnership with Panasonic System Solutions Company, a major Japanese multinational conglomerate company. This partnership aimed to address the industry’s requirement to improve logistics, warehousing and supply chain operations.
- Jan-2021: HaptX unveiled 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.
- Jul-2020: ProGlove entered into a partnership with Vuzix Corporation, a key player supplying smart glasses and augmented reality (AR) technology and products. The partnership aimed at bringing together a combined product solution to meet the growing need for greater optimization and safety in industries spanning transportation, retail, logistics, and manufacturing.
- Jan-2020: Samsung Electronics America joined hands 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,.
- Nov-2019: ProGlove formed a partnership with Ansell Limited, a key global player in providing safety solutions. The partnership aimed at designing hand protection solutions utilizing technology to establish the right personal protective equipment (PPE) compliance in the workplace.
- Jun-2019: Dexta Robotics unveiled Dexmo glove, a smart glove. These gloves are the world's first Dexo gloves, which integrate motion capture and force feedback across more than 50 generations of iterations.
- May-2019: ProGlove unveiled MARK 2, a part of the company's second generation of smart gloves. The new wearable is unique due to its Bluetooth Low Energy (BLE) connection, increased scans per second, larger scan range, and extended battery life.
- Oct-2018: Neofect unveiled NeoMano wearable robotic glove, an innovative solution that enhanced hand mobility and allows people to regain independence. The NeoMano wearable robotic glove empowered people recovering from stroke or living with multiple sclerosis, spinal cord injuries (SCI), cerebral palsy, or ALS to do everyday tasks they could not otherwise.
Scope of the Study
Market Segments Covered in the Report:
- Specific Health Monitoring Device
- Fitness Tracker
- Media & Connected Device
By Industry Vertical
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Flint Rehabilitation Devices, LLC
- HaptX, Inc.
- Samsung Electronics Co. Ltd.
- Workaround GmbH (ProGlove)
- Shenzhen Seekas Technology Co., Ltd.
- Saebo, Inc.
- Dexta Robotics
- Vandrico Solutions, Inc.
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How valuable will the smart glove market be in the future?
The smart glove market size is projected to reach USD 3.9 billion by 2028.
What are the key driving factors and challenges in the smart glove market?
Developments in consumer electronics are increasing are driving the market in coming years, however, high prices and risk of failure of smart gloves growth of the market.
What are the major top companies in the competitive landscape?
Flint Rehabilitation Devices, LLC, Neofect, HaptX, Inc., Samsung Electronics Co. Ltd., Workaround GmbH (ProGlove), Shenzhen Seekas Technology Co., Ltd., Saebo, Inc., Dexta Robotics, and Vandrico Solutions, Inc.
Has COVID-19 impacted the smart glove market?
Yes, During the COVID-19 pandemic, however, the Market was primarily hampered by a dearth of trained workers and project delays or cancellations due to partial or complete lockdown around the world.
Which segment shows a high revenue share of the smart glove market in 2021?
The Specific Health Monitoring Device segment acquired maximum revenue share in the Global Smart Glove Market by Usage in 2021, thereby, achieving a Market value of $1.6 billion by 2028.
Which region dominated the smart glove market in 2021?
The North America Market dominated the Global Smart Glove Market by Region in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $1.4 billion by 2028.