PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300909
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300909
Global Smart Glove Market is valued approximately at USD 2.4 billion in 2022 and is anticipated to grow with a growth rate of more than 9.6 % over the forecast period 2023-2030. A smart glove is a type of wearable technology that is designed to mimic human hand movements and detect force and pressure. It is typically equipped with sensors that are linked to a computer and can be used to control virtual objects, or to interact with physical objects in a virtual environment. Furthermore, Smart gloves can also be used in medical applications, such as to monitor hand movements and detect changes in physical conditions. The Smart Glove market is expanding because of factors such as development in consumer electronics and healthcare. However, its importance has progressively increased during the last few decades.
According to the Statista the worldwide consumer electronics market was expected to generate 125.5 billion US dollars more in revenue between 2023 and 2028 (+12.21%). In 2028, the income is anticipated to reach 1.2 trillion USD. According to the Statista, in 2022 the global market for artificial intelligence (AI) in healthcare was estimated to be valued about 11 billion dollars. According to predictions, the worldwide healthcare AI industry would be worth almost 188 billion US dollars by 2030, growing at a rate of 37% CAGR between 2022 and 2030. In addition, rising flexibility in wearable technology and a high growth rate in smaller market segments are expected to provide lucrative opportunities for the market growth during the forecast period. However, the high cost of smart gloves and Lack of technological awareness stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Smart Glove Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market with largest market share in the Smart Glove Market during the forecast period due to rising demand for health monitoring applications and integration of technologies such as IoT and artificial intelligence in the fitness, industrial, and healthcare sectors, According to Statista, Health expenditure in the U.S. have been increasing over time and are projected to keep increasing. As of 2021, the U.S. spent a total of USD 4.2 trillion on healthcare. Asia-Pacific is expected to be the fastest region in the Smart Glove Market due to rapid technological advancements and increased disposable income.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable