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How COVID-19 Impact Uplifting the Smart Glove Market | Major players are Apple, HaptX, Flint Rehab, Maze Exclusive, NEOFECT, Vandrico Solutions, Workaround, Samsung Electronics
Smart Glove Market
Smart wearable gloves are electronic devices with microcontrollers worn on hands as an accessory. This design incorporates practical functions as well as features. These smart devices are used as a fashion statement, fitness tracker, specific health issue monitoring device, media device, or connected to other smart devices. Furthermore, camera control, built-in speakers, network connectivity and sensors makes it a next generation technology with huge growth prospects.
The features of smart gloves such as integration of gesture recognition, hall effect sensors, conversion of gestures into vocalized speeches, and real-time data input amongst others have a positive impact on the growth of the market.
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Know How COVID-19 Impacts this Industry?
According to a new report by Allied Market Research, titled, Smart Glove Market by Usage and by Industrial Vertical: Global Opportunities Analysis and Industry Forecast, 2017-2023, the global smart glove market was valued at $ 1,740 million in 2016, and is projected to reach at $3,373 million by 2023, growing at a CAGR of 9.5% from 2017 to 2023.
In 2019, specific health monitoring device segment dominated the market, in terms of revenue, due to increase in investment in technological advancement.
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North America was the highest revenue contributor to the smart glove market in 2016, accounting for around 40% share, owing to surge in demand for advanced circuitry, wireless connectivity, and independent processing capability.
The report features a competitive scenario of the smart glove market and provides a comprehensive analysis of key growth strategies adopted by major players.
The key players profiled in the study are Apple Inc., HaptX, Flint Rehab, Maze Exclusive, NEOFECT, Vandrico Solutions Inc. (Oxstren), Workaround GmbH (ProGlove), Samsung Electronics Co. Ltd., Seekas Technology Co. Ltd., and Lab Brothers LLC. These players have adopted competitive strategies, such as innovation, new product development, and market expansion, to drive the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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