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High-Tech Gloves Market Outlook – 2030
The global high-tech gloves market is experiencing a significant growth and will grow considerably in the next few years. These high–tech gloves include stretchable sensors, which run to the lengths of five fingers capturing the hand motions and finger placements, sending those signals directly to smartphone for communication. These gloves further consist of many tiny electronics circuits ranging from dollar-coin-size circuit board to adhesive sensors. Glove systems that were developed earlier too offered biometric reports and could translate American sign language, but were not in much use due to their scarcity and they were uncomfortable due to bulky heavy designs.
The global high-tech gloves market is segmented on the basis of material type, application, end use, and region. Based on material type, the high-tech gloves market is segregated into natural rubber, nitrile, vinyl, neoprene, and others. In terms of application, the market is categorized into media and connected device, fitness tracker, specific health monitoring device, and others. On the basis of end user, the market is divided into healthcare, industrial, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global high-tech gloves industry include Apple Inc., Maze Exclusive, HaptX, NEOFECT, Vandrico Solutions Inc., Seekas Technology Co. Ltd., Lab Brothers LLC, Samsung Electronics Co. Ltd., Workaround GmbH, and Flint Rehab. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global high-tech gloves market.
Top Impacting Factors
The demand for more high-tech gloves in sign language translation, media and connected devices, fitness trackers, specific health monitoring devices is driving the growth of the market. Recently, there has been many developments in the field of fitness industry and language translators along with development of inexpensive high-tech gloves, which can translate sign language into written and spoken words with the use of a smartphone.
In addition, the market's growth is expected to be aided by the adoption of these high-tech gloves in American sign language translator. The market growth is expected to see a rise due to its benefits in the society, giving a voice to those who can speak and making deaf people to understand and communicate properly. The high-cost associated with high-tech gloves restrains the market during the forecast period.
Increase in Demand For Sign Language Translators
Researchers around the globe have been working on developing smart high-tech gloves, which can be used to translate sign language completely for the deaf community. The modern world science and an era of AI has also been a great push force for demand in the development of such high-tech gloves. The need to do something big for the deaf community for a great social cause to lessen the gap of communication among people is driving the researchers to work more on these innovative things.
Earlier, there were also such high-tech gloves but they were uncomfortable as they were bulky and had heavy designs, but with increase in technology and an era of AI, there has been changes in the high-tech gloves market. Innovations and demands are increasing for developing high-tech gloves, which were comfortable to wear, carry less or light electronics boards, and can translate sign language with high accuracy.
Increase in Demand For Connected Wearable
Recent decade has witnessed a tremendous growth in devices and wearable, which can be connected fully to smart electronic devices from smart phones to laptop and anything beyond. There has been an increase in demand for high-tech gloves, which are connected gloves with a Bluetooth or Wi-Fi module, which can control music and phone calls on smartphone and further start and stop recording on a smart cameras.
They have such small sensors, which neither make the gloves bulky nor heavy to wear and help activate different commands by simple use of finger movements, which carry sensors. These connected wearable further can keep a track of health and fitness by counting daily steps and calories burned to giving a health report from heart rate to oxygen level all displayed in the smartphones.
Key Benefits of the Report
COVID-19 Scenario Analysis
The COVID-19 pandemic has impacted the society and many economies worldwide. Growing day-by-day, this pandemic has the demand and supply chain. It is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among customers. Major shutdowns of manufacturing units in many regions across European countries have resulted in high loss of business and revenue. The lockdown was the result of the new coronavirus's short-term influence on the manufacturing industry around the world, which resulted in a drop in high-tech gloves demand.
Furthermore, the supply of electronic components has been harmed as a result of the global shutdown. With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go under survival mode through response, recovery, and renewal phases. The only way out of the COVID-19 crisis and toward the next normal is by building business resilience and enabling agility, which will aid organizations to move forward in their journey.
Significant growth in the high-tech gloves market trends can be witnessed during the forecast period once the lockdown will be over and the production rate will come to its previous pace.
Questions Answered in the Market Research Report
Key Market Segments
Key Market Players