Smart Wearable Gloves Market size is anticipated to witness healthy growth during 2023 to 2032, on account of surging focus of industry players on product innovations. A strong demand from the healthcare, sports, and entertainment among others is creating a notable impetus for this growth. In fact, many medical researchers across the world are also investing in launching smart gloves for monitoring various diseases, creating a notable impetus for industry growth.
Recent advancements in smart wearable glove technology through the integration of augmented reality (AR), machine learning, virtual reality (VR), and others have also bolstered product adoption across different sectors.
On the basis of usage, smart wearable gloves market from specific health issue monitoring devices segment is expected to accrue substantial revenue gains by 2032. Smart sensor gloves can help remotely monitor morning stiffness and hand functions, which propels their adoption in healthcare for monitoring health issues. Moreover, expanding healthcare industry is likely to proliferate the demand for smart wearable gloves for monitoring various diseases.
Based on industry vertical, smart wearable gloves market from healthcare segment is slated to grow at a considerable CAGR between 2023 and 2032, fostered by surging industry player focus towards product innovations for improving quality of patient care. In fact, recent advances in smart wearable medical gloves have shown efficacy in monitoring patient conditions, which favors their adoption. It has been found that upper extremity rehabilitation with a smart glove may reduce upper-extremity impairment in patients suffering from a subacute stroke.
North America smart wearable gloves market is predicted to accrue a lucrative revenue by 2032, owing to strong presence of industry players, specifically in the U.S. such as Apple Inc., Symbol Technologies LLC, and others who are constantly indulged in new product innovations. Moreover, growing efforts by government towards accelerating the medical device industry are also creating a strong impetus for regional expansion.
Some of the leading companies involved in the market include NEOFECT, Samsung Electronics Co., Blue Infusion Technology, Vandrico Solutions, Inc., Apple Inc., Lab Brothers LLC and Maze Exclusive . Many firms are emphasizing product innovations to outperform the competition. To illustrate, in May 2021, Apple Inc., the American multinational technology company secured a patent for the segmented force sensors for smart wearable gloves. The tech giant aims to utilize force-sensing gloves which can convert a user’s movement into input.
In fact, in March 2023, the company also unveiled that it is going to make an additional investment in German engineering in the coming six years to expand its Silicon Design Centre in Central Munich. It will help accelerate its longstanding presence in Germany while expanding its R&D.
The Russia-Ukraine war had a negative impact on smart wearable gloves market due to supply chain challenges. It has severely disrupted operations across the region’s healthcare sector, which is a major end-user of smart wearable gloves. Both the affected nations have significant reserves of raw materials used for manufacturing smart gloves, and the conflict has created a raw material shortage due to disrupted trade and production. However, rising geopolitical efforts towards bringing the conflict to an end is likely to help restore industry demand.