Smart Glove Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: ESR 65470 Report Format: PDF + Excel

Smart Glove Market Overview

The Smart Glove Market size is analyzed to grow at a CAGR of 9.6% during the forecast 2021-2026 to reach $4.67 billion by 2026. Smart Glove is considered as a wide range of Sensor technology gloves for advanced and customized solutions, such as hand protection, high-tech rehab device and other assistive device services. The Smart Gloves are designed electronic devices with microcontrollers to offer avant-garde opportunities for various kinds of application suitable to the business requirements, including industrial grade gloves and medical grade gloves, and thus, contribute to the Smart Glove market growth. The rapid prominence of the Internet of Things (IoT), artificial intelligence and connected devices, along with the increasing innovations in wearable health devices, smart personal protective equipment, integrated with GPS, wireless communication features and in-built voice assistance have supported the Smart Glove Industry development successfully. In fact, the growth of the market is also observed due to the growing advancement of the Bluetooth chip, flex sensors, microcontroller, and accelerometer. Furthermore, the progression of microencapsulation and nanotechnology pave the way for sensor technology which offers lucrative growth possibilities. The influx of brands like Samsung, Apple, and Fossil are broadening the functionalities, which further promotes Smart Glove Market. 

Smart Glove Market Report Coverage

The report: Smart Glove Industry Outlook – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Smart Glove Industry.

By Offerings: Software and Service
By Application: Fitness & Wellness, Specific Health Monitor, Infotainment, Ergonomic wearable and others
By Industry Verticals: Pharmaceuticals & Healthcare, Food & Beverages, Enterprise and Industrial, Consumer Electronics and others
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan, India, South Korea, Australia and Others), South America(Brazil, Argentina and others)and RoW (Middle east and Africa). 

Key Takeaways

  • The growing demand of wearable medical devices owing to the increasing awareness on fitness and a healthy lifestyle along with prominence of connected devices in Healthcare, contribute to the growth.
  • Asia Pacific is estimated to hold the highest share of 40% in 2020, followed by North America, owing to the significant adoption of IoT, large scale implementation of a wide range of ubiquitous systems, such as wearable computing and sensor technology across the several business verticals.
  • The advancements in consumer electronics with a wide range of technical advantages, including touch sensitive features and miniature designs, resulted into the market growth.

Smart Glove Market, By Region 2020

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Smart Glove Market Segment Analysis – By Industry Verticals

By Industry Verticals, the Smart Glove Market is segmented into Pharmaceuticals & Healthcare, Food & Beverages, Enterprise and Industrial, Consumer Electronics and others. The Enterprise and Industrial segment held the major share of 37% in 2020, owing to the propensity for cutting-edge products and significant investment to pursue radical evolutions in commercial applications. In order to address the growing requirement of several end users across automotive, oil & gas, manufacturing and logistics, customizable smart gloves with built-in scanners are introduced for more effective operations. In April 2019, the manufacturer of a smart, wearable technology, ProGlove, unveiled its MARK 2 to a U.S. audience ProMat in Chicago. The new MARK 2 enables the user to scan up to 5 feet away from a device and can connect to a corporate network via Bluetooth Low Energy (BLE), with up to 15-hour charge battery. ProGlove provides hands-free scanning solutions across a number of industries, and thus, in September 2020, Panasonic announced a partnership with ProGlove, to combine the mobile computing solutions of the two companies in order to offer rugged, innovative and user-friendly wireless barcode scanners. The strategic collaboration is also formulated to deliver seamless as-a-stand-alone scanning solution with an embedded Panasonic’s voice picking solutions for the warehouse operations, supply chain, and inventory checking. Therefore, the growing demand of integrated gesture sensor solutions for dynamic workstations, and a more efficient working environment accelerated the demand of Smart Glove Market. 

Smart Glove Market Segment Analysis – By Geography

Asia Pacific is estimated to hold the highest share of 40% in 2020, followed by North America in Smart Glove Market. The early adoption of IoT, large scale implementation of a wide range of ubiquitous systems, such as wearable computing and sensor technology across the several business verticals, along with the growing interest of consumers towards ‘sensorized’ fitness wearable devices are estimated to drive the market in these regions. Furthermore, numerous research investments propel the innovations of soft and stretchable electronics design that propel a competitive edge to smart wearable solutions. In January 2021, HaptX Inc. announced the release of HaptX Gloves DK2. The HaptX Gloves DK2 is an upgraded design and the world's most advanced haptic feedback gloves, which deliver unprecedented realism, with more than 130 points of tactile feedback per hand. These gloves have astoundingly real-life superpowers with VR, XR, and robotics technologies to meet the demand of various enterprises for quality requirements. Hence, the promising demand of industrial wearable and other smart personal protective equipment in these regions are estimated to drive the Smart Glove Market. 

Smart Glove Market Drivers

Growing prominence of healthcare wearable

The growing demand of wearable medical devices owing to the increasing awareness on fitness and a healthy lifestyle along with prominence of connected devices in Healthcare, contribute to the growth of Smart Glove Market. Moreover, the rise of high-tech devices to usher clinical-grade wearable with 3G and 4G connection led to various viable solutions. In July 2020, UCLA bioengineers designed a glove-like device that can translate American Sign Language (ASL) into English speech in real time through a smartphone app. The entire system is integrated upon a pair of gloves with thin, stretchable sensors to translate hand gestures into spoken words. Hence, the sizable demand of personalized care, specific health issue monitoring devices and user-friendly, compact medical wearable propelled the growth of the Smart Glove Market. 

Advancements in consumer electronics

The advancements in consumer electronics with a wide range of technical advantages, including touch sensitive features and miniature designs, resulted into the growth of Smart Glove Market. The advent of digitalization and latest development in sensor technology to enhance user performances is further driving the market. In April 2019, British music tech company Mi.Mu, founded by Grammy award-winning artist Imogen Heap announced the release of newly designed Mi.Mu gloves, allowing artists to map hand gestures to music software. The new gloves of Mi.Mu are durable with a removable battery system that offers artists complete control over their musical performances. Moreover, the breakthrough innovation in microfibre sensor technology offers strain sensing capabilities that provides gesture-based control. In August 2020, A team of researchers from the National University of Singapore (NUS), led by Professor Lim Chwee Teck, developed a smart glove, known as 'InfinityGloveTM', which enables users to mimic numerable in-game controls using simple hand gestures. Therefore, the launch of sophisticated wearable electronics products, extensive glove's capabilities and rising usage of convenient-to-use devices are some of the factors that are estimated to drive the Smart Glove Market. 

Smart Glove Market Challenge

High price of Smart Glove solution

The market of Smart Glove is expanding due to the significant technologies development, using the amalgamation of sensing and feedback operation to denote smarter systems. Thus, the commercially available devices, pertaining to smart glove features are prominently expensive, which is a major constraint that demotivated the rapid adoption. Thus, factors such as less sensible investment and unobtainability of some of the latest smart gloves technology around some regions  due to high cost are likely to restrict the Smart Glove Market. 

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Smart Glove Market. The Smart Glove Market top 10 companies include Apple Inc, Flint Rehab, Haptx, Lab Brother Llc, Maze Exclusive, Neofect, Samsung Electronics Co Ltd, Seekas Technology Co., Ltd, Vandrico Solution Inc, ProGlove, Workaround Gmbh and among others 

Acquisitions/Technology Launches/Partnerships

  • In December 2019, HaptX, the leading provider of realistic haptic technology announced the partnership with Advanced Input Systems along with a Series A financing round of $12 million. This acquisition provides a great opportunity for HaptX as they can finance the production of the next generation of HaptX Gloves, which represents the world’s most realistic gloves for virtual reality and robotics, coupled with product development, manufacturing, and go-to-market collaboration.
  • In November 2019, Ansell Limited, a leading provider of safety solutions, announced a partnership with ProGlove, a renowned industrial wearable manufacturer.  The acquisition is formed to deliver advanced hand protection solutions to ensure the personal protective equipment (PPE) compliance in the workplace.

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1. Smart Glove Market Overview
    1.1 Definitions and Scope
2. Smart Glove Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Smart Glove Market Type
    2.3 Key trends segmented by Geography
3. Smart Glove Market
    3.1 Comparative Analysis
        3.1.1 Product/Service Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis
4. Smart Glove Market – By Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital Funding
5. Smart Glove Market – By Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Framework
    5.2 Customer Analysis
    5.3 Case Studies
    5.4 Ease of Doing Business Index
6. Smart Glove Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Network of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Network of substitutes
7. Smart Glove Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
    7.4 Vendors & Partners 
8. Smart Glove Market – By Offerings
    8.1 Software
    8.2 Service
9. Smart Glove Market – By Application
    9.1 2K Fitness & Wellness
    9.2 Specific Health Monitor
    9.3 Infotainment
    9.4 Ergonomic Solution
    9.5 Others
10 Smart Glove Market – By Industry Verticals
    10.1 Pharmaceuticals & Healthcare
    10.2 Food & Beverages
    10.3 Enterprise and Industrial
    10.4 Consumer Electronics
11 Smart Glove Market – By Region
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Others
    11.3 APAC
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia
        11.3.6 Others
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Others
    11.5 Rest of World (RoW)
        11.5.1 Middle East
        11.5.2 Africa
12. Smart Glove Market - Industry Landscape Analysis (Premium)
    12.1 Market Share by Region
    12.2 Market Share by Industry
    12.3 Market Share by Type
13 Smart Glove Market - Key Companies by Country (Premium)
14 Smart Glove Market Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15 Smart Glove Market - Company Analysis
    15.1 Apple Inc
    15.2 Flint Rehab
    15.3 Haptx
    15.4 Lab Brother Llc
    15.5 Maze Exclusive
    15.6 Company- 6
    15.7 Company- 7
    15.8 Company- 8
    15.9 Company-9
    15.11 Company- 11
16 Smart Glove Market – Appendix
    16.1 Abbreviations
    16.2 Sources
17 Smart Glove Market – Methodology
    17.1 Research Methodology
    17.2 Company Expert Interviews
    17.3 Industry Databases
    17.4 Associations
    17.5 Company News
    17.6 Company Annual Reports
    17.7 Project Trends
    17.8 New Products and Product Database
    17.9 Company Transcripts
    17.11 R&D Trends
    17.11 Key Opinion Leaders Interviews
    17.12 Supply and Demand Trends

LIST OF TABLES

1.Global Smart Glove Market, By Usage Market 2019-2024 ($M)
1.1 Fitness Tracker Market 2019-2024 ($M) - Global Industry Research
1.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Global Industry Research
1.3 Medium Connected Device Market 2019-2024 ($M) - Global Industry Research
2.Global Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
2.1 Healthcare Market 2019-2024 ($M) - Global Industry Research
2.2 Industrial Market 2019-2024 ($M) - Global Industry Research
2.3 Fitness Market 2019-2024 ($M) - Global Industry Research
3.Global Smart Glove Market, By Usage Market 2019-2024 (Volume/Units)
3.1 Fitness Tracker Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Specific Health Monitoring Device Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Medium Connected Device Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Smart Glove Market, By Industry Vertical Market 2019-2024 (Volume/Units)
4.1 Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Fitness Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Smart Glove Market, By Usage Market 2019-2024 ($M)
5.1 Fitness Tracker Market 2019-2024 ($M) - Regional Industry Research
5.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Regional Industry Research
5.3 Medium Connected Device Market 2019-2024 ($M) - Regional Industry Research
6.North America Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
6.1 Healthcare Market 2019-2024 ($M) - Regional Industry Research
6.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
6.3 Fitness Market 2019-2024 ($M) - Regional Industry Research
7.South America Smart Glove Market, By Usage Market 2019-2024 ($M)
7.1 Fitness Tracker Market 2019-2024 ($M) - Regional Industry Research
7.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Regional Industry Research
7.3 Medium Connected Device Market 2019-2024 ($M) - Regional Industry Research
8.South America Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
8.1 Healthcare Market 2019-2024 ($M) - Regional Industry Research
8.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
8.3 Fitness Market 2019-2024 ($M) - Regional Industry Research
9.Europe Smart Glove Market, By Usage Market 2019-2024 ($M)
9.1 Fitness Tracker Market 2019-2024 ($M) - Regional Industry Research
9.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Regional Industry Research
9.3 Medium Connected Device Market 2019-2024 ($M) - Regional Industry Research
10.Europe Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
10.1 Healthcare Market 2019-2024 ($M) - Regional Industry Research
10.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
10.3 Fitness Market 2019-2024 ($M) - Regional Industry Research
11.APAC Smart Glove Market, By Usage Market 2019-2024 ($M)
11.1 Fitness Tracker Market 2019-2024 ($M) - Regional Industry Research
11.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Regional Industry Research
11.3 Medium Connected Device Market 2019-2024 ($M) - Regional Industry Research
12.APAC Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
12.1 Healthcare Market 2019-2024 ($M) - Regional Industry Research
12.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
12.3 Fitness Market 2019-2024 ($M) - Regional Industry Research
13.MENA Smart Glove Market, By Usage Market 2019-2024 ($M)
13.1 Fitness Tracker Market 2019-2024 ($M) - Regional Industry Research
13.2 Specific Health Monitoring Device Market 2019-2024 ($M) - Regional Industry Research
13.3 Medium Connected Device Market 2019-2024 ($M) - Regional Industry Research
14.MENA Smart Glove Market, By Industry Vertical Market 2019-2024 ($M)
14.1 Healthcare Market 2019-2024 ($M) - Regional Industry Research
14.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
14.3 Fitness Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Smart Glove Market Revenue, 2019-2024 ($M)
2.Canada Smart Glove Market Revenue, 2019-2024 ($M)
3.Mexico Smart Glove Market Revenue, 2019-2024 ($M)
4.Brazil Smart Glove Market Revenue, 2019-2024 ($M)
5.Argentina Smart Glove Market Revenue, 2019-2024 ($M)
6.Peru Smart Glove Market Revenue, 2019-2024 ($M)
7.Colombia Smart Glove Market Revenue, 2019-2024 ($M)
8.Chile Smart Glove Market Revenue, 2019-2024 ($M)
9.Rest of South America Smart Glove Market Revenue, 2019-2024 ($M)
10.UK Smart Glove Market Revenue, 2019-2024 ($M)
11.Germany Smart Glove Market Revenue, 2019-2024 ($M)
12.France Smart Glove Market Revenue, 2019-2024 ($M)
13.Italy Smart Glove Market Revenue, 2019-2024 ($M)
14.Spain Smart Glove Market Revenue, 2019-2024 ($M)
15.Rest of Europe Smart Glove Market Revenue, 2019-2024 ($M)
16.China Smart Glove Market Revenue, 2019-2024 ($M)
17.India Smart Glove Market Revenue, 2019-2024 ($M)
18.Japan Smart Glove Market Revenue, 2019-2024 ($M)
19.South Korea Smart Glove Market Revenue, 2019-2024 ($M)
20.South Africa Smart Glove Market Revenue, 2019-2024 ($M)
21.North America Smart Glove By Application
22.South America Smart Glove By Application
23.Europe Smart Glove By Application
24.APAC Smart Glove By Application
25.MENA Smart Glove By Application
26.Apple Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Haptx, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Flint Rehab, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Maze Exclusive, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Neofect, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Vandrico Solution Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Workaround Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Samsung Electronics Co Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Seekas Technology Co., Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)